Trading moment: The crypto market has been fully recalled, and Ethereum has almost cut its mark since the beginning of the year

Reprinted from panewslab

03/11/2025·2M

Trading moment: The crypto market has been fully recalled, and Ethereum has
almost cut its mark since the beginning of the year

1. Market Observation

Keywords: Coinbase, ETH, BTC

BTC fell below $77,000 this morning. Greeks.live briefing shows that traders are generally bearish at present, with most focusing on the $74,000-76,000 area as potential downward targets and seeing $87,000 as resistance level. BitMEX co-founder Arthur Hayes predicts that Bitcoin may bottom out around $70,000, which is equivalent to a 36% pullback from a historical high of $110,000, which is a normal adjustment in the bull market. Although Strategy did not increase its holdings of Bitcoin last week, it submitted a new prospectus, intending to issue $21 billion in preferred shares, or use it to purchase Bitcoin.

In Ethereum, the situation is even more serious. Its price fell below $1,800 this morning. An address holding 65,000 ETH is facing liquidation risks. Another giant whale has sold 25,800 ETH safe-haven, losing $31.75 million. Yuga Labs executives warned that if the market enters a bear market, ETH could fall below $1,500, or even reach the range of $200-400, which is consistent with the maximum retracement of 90% in a historical bear market.

In traditional financial markets, US stocks experienced a "Black Monday", with the Nasdaq falling 4%, Tesla falling 15%, and blockchain concept stocks generally fell, with Coinbase falling 17.58%, and MicroStrategy falling 16.68%. In this regard, Arthur Hayes believes that the next step is to pay attention to the risk of US stock market plunge and traditional financial institutions' bankruptcy, and major central banks may adopt loose policies to stimulate the economy. Cathie Wood, founder of ARK Invest, believes that the market is digesting the final stage of recession and expects to usher in a deflation boom in the second half of the year. However, Fed Chairman Powell recently said that the Fed is not in a hurry to cut interest rates due to the still strong labor market, the uneven inflation path, and the uncertainty of Trump's impact on trade, fiscal, immigration and regulatory policies. Goldman Sachs has lowered U.S. economic growth expectations to 1.7% and raised inflation expectations. It is worth noting that futures traders are increasingly betting that the Fed will cut interest rates in June, July and October.

Faced with the current market conditions, Delphi Digital researcher Minty suggested that investors should not measure investment at historical highs, but should target 50-70%. He said most altcoins may never return to their all-time highs, major opportunities only appear a few times a year and are fleeting, with excessive trading and lack of patience being the main causes of profit loss.

2. Key data (as of 13:00 HKT on March 11)

Corruption Index: 24 (extremely fearful)
24-hour BTC long-short ratio: 0.9685
Average GAS: BTC 3 sat/vB, ETH 1.11 Gwei
Market share: BTC 61.1%, ETH 8.7%
Upbit 24-hour trading volume ranking: XRP, BTC, ETH
Sector rise and fall: DeFi sector fell 8.32%, Meme sector fell 9.19%
Bitcoin: USD 80,007.13 (-14.6% during the year), daily spot trading volume is USD 58.486 billion
Ethereum: $1,865.44 (-44.05%), daily spot trading volume is $38.414 billion
24-hour liquidation data: A total of 336,581 people worldwide were liquidated, with a total liquidation amount of US$956 million, and its BTC liquidation was US$318 million and ETH liquidation was US$252 million.