ChainCatcher news, Binance CEO Richard Teng stated that the recent market volatility should be viewed as a "tactical pullback," rather than a structural decline in the crypto market. He emphasized that the crypto market has historically experienced macroeconomic shocks and rebounded strongly, such as when Bitcoin briefly fell below $20,000 in 2022 due to the Federal Reserve's interest rate hikes, but quickly recovered as the market stabilized.Teng pointed out that institutional investor interest is still on the rise, with continued inflows into ETFs, and Binance is also steadily growing. He believes that the Federal Reserve's pause on interest rate cuts is a key factor in the recent market adjustment, and although the likelihood of a rate cut in March has decreased, future policies will still depend on inflation and employment data.He stated that market pullbacks often present opportunities for seasoned investors to position themselves for the next upward cycle, and the crypto market has become part of the global financial system, proving its resilience in the face of macroeconomic fluctuations.

ChainCatcher news, according to Coindesk, Citibank released a research report on Thursday, where analysts led by Alex Saunders wrote that digital asset-friendly Paul Atkins has been nominated to serve as SEC chairman, providing the final push needed for Bitcoin to break through 100,000.As adoption increases, Bitcoin continues to be supported by ETF funds and other purchasing power. However, altcoins may benefit more from a looser regulatory environment, as Bitcoin's dominance has recently declined.Analysts also noted that there has not yet been a significant increase in on-chain activity. In the long run, the network's utility or value will be tied to its usage, macro correlation, and production costs.

ChainCatcher news, according to the Hong Kong stock market, as of 16:00 UTC+8, the total trading amount of the first batch of 6 Bitcoin and Ethereum spot ETFs launched in Hong Kong exceeded 87.61 million HKD.Among them, the Bosera HashKey Bitcoin ETF (3008.HK) had a trading amount of 12.45 million HKD, the Bosera HashKey Ethereum ETF (3009.HK) reached 2.49 million HKD, the Huaxia Bitcoin ETF (3042.HK) amounted to 37.17 million HKD, the Huaxia Ethereum ETF (3046.HK) reached 12.66 million HKD, the Harvest Bitcoin Spot ETF (3439.HK) had a trading amount of 17.89 million HKD, and the Harvest Ethereum Spot ETF (3179.HK) reached 4.95 million HKD.

According to ChainCatcher news, as shown on the Hong Kong Stock Exchange official website, as of 10:30 UTC+8 (one hour after opening), the total trading amount of the first batch of 6 Bitcoin and Ethereum spot ETFs launched in Hong Kong exceeded 37 million HKD.Among them, the Bosera HashKey Bitcoin ETF (3008.HK) had a trading amount of 1.74 million HKD, the Bosera HashKey Ethereum ETF (3009.HK) reached 1.13 million HKD, the Huaxia Bitcoin ETF (3042.HK) amounted to 18.06 million HKD, the Huaxia Ethereum ETF (3046.HK) reached 9.73 million HKD, the Harvest Bitcoin Spot ETF (3439.HK) had a trading amount of 4.78 million HKD, and the Harvest Ethereum Spot ETF (3179.HK) reached 1.63 million HKD.

ChainCatcher news, according to Bloomberg, Bitcoin investors in the Asian market are facing significant volatility, possibly due to automated trading protocols reacting to the fund flow data of U.S. ETFs holding cryptocurrencies.It is reported that the demand levels for these Bitcoin spot ETFs are disseminated throughout the cryptocurrency market during the Asian session after the U.S. stock market closes. On Tuesday, as fund flow data indicated that investors were pulling out, digital assets experienced their largest drop in a month."From an algorithmic trading perspective, robots can automatically crawl and trade based on this data," said Shiliang Tang, president of Arbelos Markets. "It seems that this is what is happening."