PWA

Fidelity analyst: The pullback of Bitcoin is consistent with previous acceleration phases, and there is still a possibility of "initiating a second wave of major upward movement."

ChainCatcher news, according to Cointelegraph, Fidelity Digital Assets has questioned the view that "Bitcoin has reached a cycle peak" in its latest report, suggesting that Bitcoin may be on the brink of the next "acceleration phase."Fidelity analyst Zack Wainwright pointed out that a typical characteristic of Bitcoin's acceleration phase is "high volatility and high returns," similar to the market performance when BTC broke through $20,000 in December 2020. Although Bitcoin's year-to-date return is -11.44%, having retraced nearly 25% from its historical high, Wainwright believes that the recent performance aligns with the average retracement seen after acceleration phases in previous cycles.Wainwright believes that Bitcoin is currently still in the acceleration phase but is nearing the end of the cycle, having lasted 232 days as of March 3. Historical data shows that the acceleration phases in 2010-2011, 2015, and 2017 peaked on the 244th day, 261st day, and 280th day respectively, with each cycle lasting longer. However, historically, acceleration phases usually feature two major upward waves, with the first wave occurring after the election this time. If it can break through the previous high again, the starting point for the second major upward wave may be around $110,000.

4E: Weak consumer confidence reignites economic concerns, US stock market gains slow down, cryptocurrency market fluctuates upward

ChainCatcher news reports that, according to 4E monitoring, Trump may ease tariff plans, somewhat alleviating market anxiety over a full-blown trade war, supporting the continued rebound of U.S. stocks. On Tuesday, the three major U.S. stock indices rose slightly, continuing Monday's gains. The S&P 500 rose by 0.16%, the Dow Jones increased by 0.01%, and the Nasdaq gained 0.46%. Most large tech stocks were up, with Tesla rising over 3% for five consecutive days, accumulating a total increase of 28%.The cryptocurrency market is fluctuating upward, with Bitcoin retreating after reaching a high of $88,765 on Monday, and last night it broke through $88,000 again, showing strong upward momentum. As of the time of writing, it has slightly retreated, hovering above $87,000, with a 24-hour increase narrowing to 0.8%. Most sectors in the market are rising, with the Meme sector continuing to perform strongly. Current market sentiment is optimistic; historically, risk assets tend to perform best in the second quarter, especially in April each year.In the forex and commodities sector, the latest economic data showed weakness, causing the dollar index to turn down after reaching a nearly three-week high, ending a four-day winning streak; oil prices fell slightly due to the impact of the Russia-Ukraine agreement; with a poor economic outlook, spot gold rose by 0.31%, reversing a trend of three consecutive days of decline.The U.S. Consumer Confidence Index for March, released last night, fell below expectations, dropping to its lowest level in four years, reflecting consumer concerns about the economic outlook. The disappointing data significantly slowed the upward momentum of U.S. stocks, with the three major indices narrowly maintaining their gains. As the April 2 effective date for reciprocal tariffs approaches, the market is closely watching how related policies will affect economic growth and inflation.

Kaiko: The wave of liquidations in February has reduced the leverage of altcoins, potentially paving the way for a more sustained upward trend in the future

ChainCatcher news, according to a research report by Kaiko, the market slump in February triggered several waves of liquidations, significantly reducing the leverage levels of the top ten altcoins. Analysts believe that this position reset has created a healthier foundation for the cryptocurrency market, potentially paving the way for a more sustained upward trend in the coming weeks.The report notes that with the U.S. announcing the establishment of a strategic cryptocurrency reserve plan, although Bitcoin's reaction was relatively muted, overall market volatility surged, especially among altcoins. The intra-day volatility, which had been below 200% since the tariff sell-off in February, skyrocketed after the announcement, with ADA's volatility breaking 600%, marking the largest increase among major altcoins.Kaiko's analysis indicates that the inclusion of specific altcoins in the U.S. strategic reserve may accelerate the rotation of capital among altcoins, reinforcing the trend of concentrated gains in altcoins. Since last November, trading activity on U.S. exchanges has increasingly been dominated by large-cap assets. A year ago, the top ten altcoins accounted for 58% of altcoin trading volume on U.S. platforms, and 50% on offshore exchanges; as of last week, these shares have risen to 77% and 66%, respectively.

QCP Capital: The options market is positioning for the Ethereum Pectra upgrade, while factors such as the weakness of altcoins may suppress upward momentum

ChainCatcher news, QCP Capital's latest analysis points out that the term structure of the options market has shown a significant distortion around the March expiration date, particularly in Ethereum options. This may reflect the market's positioning for the Ethereum Pectra upgrade, which is currently in the testing phase and expected to go live in early April.Looking back at past upgrades, the September 2022 merge upgrade followed the typical "buy the rumor, sell the news" pattern—ETH fell back after rising over 100% from the June low post-upgrade. In contrast, the Shanghai upgrade in April 2023, which enabled staking withdrawals, faced pessimism due to market concerns about oversupply. However, once the market realized that the selling pressure did not materialize as expected, ETH rose by 30% in the following months.As expectations for the upgrade heat up, traders may be positioning for another volatility event, with options volatility skewed towards call options after March 28—this could lay the groundwork for the next thematic play in the crypto market following the Trump tariff turmoil.One dampening factor is the general weakness in the altcoin market—LIBRA's collapse, SOL and ETH retreating to pre-election levels, and Bitcoin's market cap share nearing historical highs. Beyond market catalysts, altcoins may need to achieve substantial progress in real-world applications and network development to sustain a recovery, rather than relying solely on speculative capital flows.
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