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

17 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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Bitwise CIO: Market Will See Strong Rally If Fed Eases Up

On March 18th, Matt Hougan, the Chief Investment Officer of Bitwise, stated on social media, "In the past four weeks, the market has been turning a blind eye to a lot of positive news. If the Federal Reserve eases up a bit, the market will witness a sharp increase."

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Flow Traders received 6000 ETH from a suspected Cumberland DRW address 9 hours ago and subsequently transferred all of it to a CEX.

On March 18th, as monitored by The Data Nerd, 9 hours ago, Flow Traders received 6,000 ETH (approximately $11.65 million) from an address (which is likely to belong to Cumberland DRW). Subsequently, Flow Traders transferred all of these funds into Binance, OKX, and Bybit.

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Vitalik Sells DHN, FML, and Other Meme Coins, Receives 71.69 ETH

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Four.Meme: Investigation Underway Following Platform Breach, Affected Users to Be Compensated

March 18th. Four.Meme posted on social media and said, "The platform is facing an attack. The token issuance function has been temporarily suspended, and an emergency security investigation is in progress. We will compensate the affected users. They can submit a form to provide details of their losses. The impact of this incident is limited, and all other tokens are safe. The team is working hard to deal with the problem and ensure the security of the system."

2 minutes ago

BMT Surpasses $0.22, Hits All-Time High

On March 18th, based on GMGN market data, BMT has surpassed $0.22 and is currently trading at $0.224, reaching a new all-time high with a 24-hour increase of 96%.

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Cumberland has received in-principle approval for a Major Payment Institution License from the Monetary Authority of Singapore (MAS).

On Monday, Cumberland SG, the Asian subsidiary of the U.S.-based cryptocurrency exchange company Cumberland, announced that it has received in-principle approval for a Major Payment Institution License from the Monetary Authority of Singapore (MAS). Cumberland stated that once the MPI license is fully granted, it will be able to provide regulated digital payment token services in Singapore.

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