PANews reported on March 27 that QCP Capital's analysis pointed out that despite notable catalysts, market sentiment remains low in the cryptocurrency market. GME unexpectedly raised $1.3 billion for Bitcoin allocation but has not boosted overall market sentiment. The only glimmer of hope is the steady inflow of BTC ETF, totaling $944.9 million since March 14, 2025. In contrast, ETH ETF experienced an outflow of $112.1 million during the same period. This reveals a clear divergence, reflecting institutional beliefs in the market.

On-chain developments bring some hope for ETH. With Pectra successfully deployed on the Hoodi testnet and mainnet upgrade expected in the second quarter. Looking ahead to tomorrow's expiration, $12.2 billion in BTC options will expire, with the highest price at $85,000. BTC has started to decline from Monday's highs, with both BTC and ETH front-end trading volumes dropping by 10 trading volumes. Spot trading remains range-bound, with OI continuing to decline, indicating a general lack of short-term optimism. As PCE index data will be released tomorrow, any upside potential in the short term will remain limited, as the market awaits clarity on Trump's next move in this escalating trade war.