ChainCatcher news, according to Coindesk, TradingView data shows that the price of Ethereum plummeted nearly 20% in the seven days ending March 9, marking the largest weekly percentage drop since November 2022.This sell-off broke the bullish trend line that started from the low point after the collapse of the Terra algorithmic stablecoin UST in June 2022, which resulted in billions of dollars in losses for investors.This decisive drop suggests that the bullish trend for Ethereum over the past three years may have ended, with focus shifting to deeper losses, potentially falling to support levels near the lows of September-October 2023, around $1,500.Trend lines help visualize the direction of capital flow among traders and where price changes may occur. An upward or bullish trend line represents a level where demand is expected to be sufficient to prevent further price declines. When a long-term bullish trend line is broken, as in the case of ETH, it indicates weakening demand and suggests a potential bearish shift in market trends. Breaking below a trend line often prompts other traders to sell, leading to larger losses.

ChainCatcher news, Matrixport released a weekly report stating that with the upcoming White House cryptocurrency summit on Friday, any positive headlines could drive short-term momentum, but the structural weaknesses in the market and macroeconomic headwinds remain key risks.If Trump conveys a strong message of support for cryptocurrencies, it could inject new vitality into the market, but its sustainability will depend on the broader economic and policy environment. This summit marks the first time in history that the White House is holding a summit specifically focused on cryptocurrencies. The market is currently closely watching the outcomes of the summit and anticipates further price volatility in the future.The U.S. government may utilize its gold reserves to fund the purchase of Bitcoin, especially if the strategic Bitcoin reserve plan is advanced. The Bitcoin bill proposed by Senator Cynthia Lummis suggests using the market value of gold—currently around $688 billion, far exceeding its book value of $11 billion—to acquire 1 million Bitcoins over five years. This could mean that gold would need to be sold at market prices, and the proceeds would be reallocated.

ChainCatcher message, trader Eugene posted in his personal channel: "In short, you don't need me to say it, in hindsight this was undoubtedly a clear bearish pullback, followed by a strong rejection. Looking ahead, I still believe the market trend is over, and going long only applies to 'optimal setups' (referring to the best entry opportunities with high risk-reward ratios, high win rates, and in line with trading strategies). The next key focus is expected at $75,000. Maintain low risk and return to asset protection mode."

ChainCatcher news, according to CoinDesk, analyst Van Strate stated that data shows the actual volatility of Bitcoin and the implied volatility are both near multi-year lows, and the "volatility chaos index" has reached one of its highest levels in recent years, which may trigger short-term trends.Since the end of November, the price of Bitcoin has been oscillating within a narrow range of $91,000 to $109,000, with volatility significantly contracting. Glassnode data shows that the 2-week actual volatility (annualized) measuring the price fluctuations over the past two weeks has dropped to 32%, marking one of the lowest levels in years. Meanwhile, the 1-month options implied volatility, reflecting the market's expectations for volatility over the next four weeks, has also fallen below 50% annualized, similarly at a historical low.

ChainCatcher news, according to Cointelegraph, the activity of several mainstream public chains has significantly declined compared to the peak in 2021, indicating that the current altcoin market is still in a speculative phase. The total market capitalization of altcoins, excluding the top ten cryptocurrencies, is currently $277 billion, down 77% from the peak of $492 billion in November 2021.Nansen analyst Nicolai Sondergaard pointed out that the altcoin market may be delayed due to meme coins attracting a lot of investor attention and funds. "The altcoin season will still come, but it may take a different form than before. There are currently more tokens and greater decentralization; while most are rising, specific sectors and tokens will see much larger increases than the rest."Redstone co-founder Marcin Kazmierczak added that some altcoin prices are rising, but the number of active addresses has not increased, indicating that we are still in a speculative phase and have not yet entered a phase of widespread adoption.

ChainCatcher news, Greeks.live analyst Adam posted on social media that the market has maintained a weak consolidation this week. Despite several positive messages from the U.S. government, the market is not convinced, and the implied volatility (IV) has dropped to its lowest level in nearly a year.Since BTC effectively broke below the $100,000 mark, options whales have been continuously selling short- to medium-term call options. The volume of large call option trades has significantly increased, while the volume of large put trades has decreased, indicating that although the market is not optimistic about an upward trend, the panic regarding a downturn has also weakened.Institutions generally believe that February will be a garbage time with no market activity, and indeed, the market seems to lack hotspots and capital.

ChainCatcher news, according to RootData market data, EOS has risen above $1.15, with a 24-hour increase of 23.99%, reaching a new high since April 2024, with a market capitalization currently reported at $1.73 billion.

ChainCatcher message, BitMEX co-founder Arthur Hayes posted on the X platform: "Some people do not believe that Trump will abandon the dollar and print money in large quantities, while Bitcoin holds a different view. Below is a comparison of Bitcoin's performance with my new money supply indicator, U.S. bank credit, and the market performance speaks for itself."