ChainCatcher news, according to CoinDesk, as a key indicator of economic sentiment and corporate credit health, the ICE/BofA US High Yield Index Option-Adjusted Spread (OAS) has retreated from recent highs, supporting a rebound in risk appetite for cryptocurrencies and the stock market, but analysts believe this relief may be short-lived.The OAS metric measures the average yield spread between dollar-denominated high-yield corporate bonds and U.S. Treasuries, adjusted for embedded options in the bonds. This metric is widely regarded as a barometer of credit risk, with widening spreads typically indicating increased investor concerns about corporate defaults or economic weakness.Currently, the OAS has decreased from a six-month high of 3.4% earlier this month to 3.2%, a decline that supports the resurgence of Bitcoin (BTC) and the Nasdaq. Previously, the spread had surged by 100 basis points over four weeks to mid-March, as concerns over economic recession triggered by Trump's tariff policies caused Bitcoin to drop below $80,000 and the Nasdaq to suffer significant losses.However, analysts expect that as the negative effects of Trump's tariff policies gradually become apparent, the OAS spread will widen further in the coming weeks. Hans Mikkelsen, Managing Director of Credit Strategy at TD Securities, stated in a recent client report, "We believe this is just the beginning, and things will get worse before they get better."From a technical analysis perspective, the OAS has broken through a three-year downtrend line, which is a highly cautionary signal for investors in risk assets.

ChainCatcher news reports that, according to 4E monitoring, after the Federal Reserve's interest rate meeting, the upward trend of U.S. stocks could not be sustained. Economic uncertainty and Trump's tariff plans cast a shadow, leading to a volatile decline in major U.S. stock indices on Thursday. The S&P 500 fell by 0.2%, the Dow Jones dropped by 0.1%, and the Nasdaq decreased by 0.3%. Large tech stocks saw more declines than gains, with Tesla slightly up by 0.1%.The cryptocurrency market showed volatility but overall presented a mild upward trend. Last night, influenced by the U.S. stock market, coupled with Trump's reiteration of old themes in his speech at the DAS summit without any substantial positive news, Bitcoin experienced a rapid decline. As of the time of writing, it has rebounded to $84,650, down 1.33% in the last 24 hours. Most other mainstream tokens have seen some pullback. BNB's on-chain performance has recovered, continuing to be a focus for investors.In the forex and commodities sector, risk aversion dominated the market, with the U.S. dollar index rising by 0.40%, extending Wednesday's gains; investors are paying attention to the Trump administration's sanctions on Iran, with international oil prices closing up over 1.6%; spot gold slightly retreated after reaching a historical high, with a cumulative increase of nearly 16% this year.The market is digesting the Federal Reserve's decision, but investors are concerned that Trump may impose more tariffs in April, questioning whether the potential inflation caused by tariffs will limit the Fed's expected significant rate cuts, leading to a clear risk-averse sentiment in the U.S. stock market.

ChainCatcher news, according to CoinDesk, a research report released by JPMorgan Chase (JPM) on Monday shows that in the two weeks leading up to March 2025, the Bitcoin network's hash rate increased by 2 EH/s, averaging 811 EH/s.The report noted that U.S. publicly listed mining companies maintained about 30% of the network's hash rate share. Meanwhile, the average price of Bitcoin fell by about 10% during the period, putting pressure on mining economics. The hash rate price (an indicator of daily mining profitability) remained largely unchanged compared to the end of last month. In the two weeks leading up to March, miners earned approximately $48,300 in daily block rewards per EH/s, an 11% decrease from February and a 52% drop since the halving event in April last year.The total market capitalization of the 14 U.S. publicly listed mining companies tracked by JPMorgan fell by 13% compared to last month, approximately $3 billion. Among them, Argo Blockchain (ARGO) performed the best, rising by 1%, while Cipher Mining performed the worst, falling by 25%. The report added that during the same period, only one of the mining companies covered by the bank outperformed Bitcoin.

ChainCatcher message, the rapid rise in Bitcoin prices last November created a supply gap in the range of $70,000 to $80,000. According to Glassnode data, currently about 20% of the Bitcoin supply is in a state of loss.If Bitcoin currently retraces and falls below $80,000, it may accelerate the decline. Glassnode's UTXO Realized Price Distribution (URPD) chart shows the so-called "supply gap." This indicator tracks the price point at which existing Bitcoin UTXOs last moved. Each bar represents the amount of Bitcoin that was last traded within a specific price range. The data is entity-adjusted, meaning an average purchase price is assigned to each entity, and their entire balance is categorized accordingly.In simple terms, the number of traders who bought Bitcoin in the $70,000 to $80,000 range may be far lower than in other price ranges. Therefore, if the price falls below $80,000, there may be few holders willing to buy the dip at their purchase cost, resulting in almost no support above the historical high of $73,000 set in March 2024.

ChainCatcher message indicates that, according to SoSoValue data, the encrypted market sector has generally declined, while the RWA and SocialFi sectors have seen slight increases. The RWA sector has risen by 0.75% in the last 24 hours, with MANTRA (OM) increasing by 3.10%. The SocialFi sector has risen by 0.56%, with Toncoin (TON) increasing by 1.40%. Meanwhile, the ssiRWA and ssiSocialFi, which reflect the historical performance of the sectors, have increased by 0.48% and 1.41% respectively in the last 24 hours.In addition, the CeFi sector has risen by 0.38% in the last 24 hours, with Binance Coin (BNB) increasing by 1.58%, OKB rising by 3.45%, Cronos (CRO) increasing by 2.18%, and MX rising by 2.27%.In other sectors, the Meme sector has decreased by 0.55% in the last 24 hours, with Shiba Inu (SHIB) rising against the trend by 5.72%; the PayFi sector has decreased by 1.07%, with Ultima (ULTIMA) rising against the trend by 14.68%; the Layer2 sector has decreased by 1.17%, with Mantle (MNT) increasing by 5.47%; the DeFi sector has decreased by 1.18%, and the Layer1 sector has decreased by 1.83%.

ChainCatcher news, Trump threatens to impose a 200% tariff on EU alcoholic products and firmly states that he will not "compromise" on tariffs against Canada, insisting on implementing the tariff plan on April 2, causing market turbulence. According to 4E monitoring, U.S. stocks collectively plummeted on Thursday, with the S&P 500 index closing down 1.39%, the Dow Jones down 1.30% marking four consecutive declines, and tech giants dragging the Nasdaq down 1.96%.After a brief recovery, the cryptocurrency market fell again last night due to the drag from U.S. stocks, with Bitcoin briefly dipping below the $80,000 mark. It only rebounded after the U.S. stock market closed, reaching $81,571 at the time of writing, a 24-hour decline of 2.6%. Altcoins crashed, on-chain activity was bleak, and amid the ongoing sluggish market, interest in contract trading has risen.In the forex commodities sector, February PPI growth was below expectations, pushing the dollar index up 0.2%; Russia agreed to a 30-day ceasefire, and a U.S.-Russia agreement may revive Russian oil and gas supplies, with U.S. crude oil closing down nearly 1.7%; driven by Trump's tariff threats and market risk aversion, spot gold surged nearly 1.8% to refresh its historical high, approaching $3,000.Wednesday's CPI and Thursday's PPI together indicate that inflationary pressures in the U.S. are easing, but the market generally believes this is insufficient to trigger a significant rebound. Trump's trade policies remain a key factor suppressing investor sentiment, casting doubt on the future interest rate path of the Federal Reserve, with the market still maintaining expectations for three rate cuts this year.

ChainCatcher news, the crypto analytics firm Santiment posted on social media that the sentiment in the crypto community towards Ethereum has been declining over time.As of the time of writing, Ethereum, the second-largest cryptocurrency by market capitalization, is priced at $1,865. With the increasing presence of FUD (fear, uncertainty, and doubt), the arguments regarding a potential unexpected breakthrough for Ethereum have also become more compelling.

ChainCatcher news, Bloomberg's senior commodity strategist Mike McGlone posted on the X platform that after ETH broke below the $2000 support level, it may continue to decline, and the ETH S&P 500 index shows a tendency to drop.Previously, in the fourth quarter of 2024, the overall cryptocurrency market rose, but ETH did not perform well.

ChainCatcher news, according to DL News, although Bitcoin has recently taken a hit, Bitwise Chief Investment Officer Matt Hougan stated that this drop is just a minor episode before Bitcoin's valuation skyrockets to between $1 trillion and $5 trillion.In a report on Monday, Hougan wrote: "If it weren't so volatile, it would be a footnote in history, fluctuating only below $150,000, supported only by a small group of libertarians, crypto-punks, and speculators."In short: "Bitcoin is either going to be significant globally or it will be worthless." As Hougan made this prediction, Bitcoin, other cryptocurrencies, and the broader world markets are being impacted by multiple factors including Donald Trump's escalating trade war, disappointing earnings, scandals, hacking attacks, and the threat of a recession in the U.S.Traders' reactions were muted, seemingly disappointed that Trump did not announce large-scale purchases of Bitcoin. The Bitcoin and cryptocurrency markets continued to decline over the weekend. But for Hougan, this reaction misses the point. To him, "strategic reserves are a significant step forward, and the market's disappointment is absurd."He pointed out that the executive order explicitly states that the U.S. Secretary of the Treasury and the Secretary of Commerce "should develop strategies" for reserve purchases of Bitcoin. Hougan wrote: "Note that the order uses 'should,' not 'may' or 'might'; the wording in the official statement is carefully chosen."

ChainCatcher news, Pepperstone strategist Michael Brown stated in a report that due to concerns about the U.S. economy losing momentum under Trump's leadership and increasing policy uncertainty, the dollar has fallen alongside U.S. Treasury yields.The Trump administration is doubling down on the idea of trading short-term economic pain for long-term gains, and the persistently weak sentiment has driven yields lower, putting pressure on the dollar, "with a broader flight from dollar-denominated assets also playing a role." Meanwhile, the market will focus on the U.S. job openings data to be released tonight; if the data is weak, it will exacerbate the existing market tension regarding diminishing economic momentum.

ChainCatcher news, according to Jinshi reports, on Monday, as U.S. stocks plummeted, Cathie Wood's ARK Invest made a large purchase of shares in Tesla (TSLA.O), Palantir (PLTR.N), Coinbase (COIN.O), AMD (AMD.O), Tempus AI (TEM.O), and Robinhood (HOOD.O), totaling over $70 million.

ChainCatcher news, according to analysis by The Kobeissi Letter, the real reason for the market decline is the sudden shift in risk appetite. In just a few days, the market went from extreme greed to extreme fear. The positioning is so polarized that market sentiment has turned in the completely opposite direction. "Regardless of the fundamentals, sentiment is the ultimate driver of any market price."When sentiment shifts rapidly, outflows can reach historic highs, triggering what we have seen as a "flash crash." Data shows that institutional capital exited before the decline in tech stocks. Heading into 2025, hedge fund holdings in the seven major U.S. stocks (Magnificent 7) will drop to the lowest level in 22 months.In the last week of February, cryptocurrency funds recorded an outflow of $2.6 billion for the week. This is about $500 million higher than the record set in 2024.

ChainCatcher news, according to The Kobeissi Letter, since reaching an all-time high on December 16, 2024, the cryptocurrency market has evaporated $1.3 trillion in market value, a decline of 33%, equivalent to an average daily loss of $15.5 billion over 84 consecutive days.The Kobeissi Letter points out that this marks the largest three-month market value correction in cryptocurrency history, with the current total value of the crypto market dropping to its lowest level since November 6, 2024.

ChainCatcher news, according to Bloomberg, Strategy (formerly MicroStrategy) shares have plummeted significantly, shrinking by nearly half from their peak, due to investor concerns about economic headwinds and the withdrawal of previous cryptocurrency-related bets that benefited from Donald Trump's election.Strategy's stock price fell 17% on Monday, to $239.27. Since reaching an all-time high closing price of $473.83 last November, the stock has declined a total of 49.5%.

ChainCatcher news, according to The Block, the total transaction fees generated by the Solana network last week were only 53,800 SOL, marking the lowest weekly figure since September 2024.Data shows that the total transaction fees last week decreased by 10% compared to the previous week, an improvement over the past six weeks' average weekly decline rate of 25%. Notably, Solana's weekly transaction fees have dropped by 85% from the historical peak of 361,000 SOL in the fourth week of January (during the $TRUMP and $MELANIA meme coin launches).Since the issuance of $TRUMP, Jito validator tips have also significantly decreased, averaging only $11,300 per day last week, compared to $62,000 per day during the week of $TRUMP's issuance. Similarly, the 7-day moving average of active addresses on the Solana network also fell by 35% during this period. The decline in these fundamental indicators has affected the price of the SOL token, which has dropped by about 50% since January 20.As a major revenue and token generation platform for Solana, Pump.fun has also experienced a similar decline. Last week, an average of only 0.89% of tokens created on Pump.fun "graduated" to Raydium daily, compared to 1.6% in the third week of January. Considering the hundreds of thousands of tokens created daily on Pump.fun, this 0.71% drop is relatively significant.

ChainCatcher message, Musk stated in response to a post about Tesla's (TSLA.O) largest single-day drop that everything will be fine in the long run.

ChainCatcher news, Bitwise Asset Management Chief Investment Officer Matt Hougan stated on CNBC's "Squawk Box Asia" that the current drop in Bitcoin prices is a "short-term setback," and the market will soon find its footing and realize that this is actually a long-term bullish outlook for this asset and the entire cryptocurrency market.Matt Hougan added that White House cryptocurrency and AI director David Sacks has indicated that the U.S. will seek a "budget-neutral strategy to acquire more Bitcoin, provided that these strategies do not impose incremental costs on American taxpayers." The right question should be: Does this executive order make it more likely for Bitcoin to become a geopolitically significant currency or asset in the future? Will other governments follow the U.S. and establish their own strategic reserves? For me, the answer is yes, and the reason this question is important is that it determines whether Bitcoin is worth $80,000 or $1,000,000.