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Report: Bitcoin Institutional Buyers Yet to Stage Comeback, Market Still in Consolidation Phase

12 hours ago

On March 17th, Bitfinex put forth a new report indicating that Bitcoin has been in a continuous decline ever since reaching a historical high of $109,590 on January 20th. The lowest point last week was $77,041, representing a 29.7% pullback, which marks the second deepest correction within this bull market cycle. While in history, bull markets usually witness a 30% retracement before resuming the upward trend, in this cycle, there had been shallower declines previously due to institutional adoption and ETF-driven demand. Short-term holders continue to endure unrealized losses, which intensifies the selling pressure. These investors, especially those who purchased in the past 7 to 30 days, are typically the most prone to giving up. Historically, when fresh capital inflows slow down and the cost basis trend changes, it suggests a weakening demand environment. With Bitcoin struggling to maintain key levels, this trend is becoming more evident. In the absence of new buyers entering the market, Bitcoin may experience a prolonged consolidation period or even further declines as weak hands continue to exit. A crucial factor to keep an eye on is whether long-term holders or institutional demand will reemerge at these lower levels. If deep-pocketed investors begin to absorb the supply, it could signify a shift towards an accumulation phase, stabilizing price movements and reversing market sentiment.
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The SEC Cryptocurrency Working Group will hold its inaugural roundtable meeting this week.

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「Hyperliquid's 50x Whale」 closes all long positions and opens additional short positions on BTC

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Arbitrum Developers Launch Onchain Labs to Support Early-Stage Projects

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Aptos Launches LFM Program to Assist Ecosystem Projects in Preparing for TGE

March 18th. According to official channels, Aptos has declared the commencement of the LFM program with the aim of aiding ecosystem projects in making preparations for Token Generation Events (TGEs). They will offer customized and in-depth support according to the project's readiness for TGE. The expert network encompasses aspects such as community building, exchange listings, fundraising, legal matters, security, and more.

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