Institution: Federal Reserve Expected to Hold Interest Rates Steady Through 2025

On March 18th, the Bitget team partners with Bubblemaps (BMT) to launch the first phase of the Early Hunter Airdrop Program, with the aim of rewarding early supporters of high-quality projects. Moving forward, Bitget will collaborate with high-potential blockchain projects on a periodic basis to distribute token airdrop rewards. Users only need to hold at least 10 BGB in their Bitget spot account to participate in the Early Hunter Airdrop Program. The details of the first phase of the airdrop program are as follows: Sunshine Award: The first 1000 users who complete BMT spot trades before 6:00 PM (UTC+8) on March 18th will receive an airdrop of $10 worth of BMT tokens. The price of BMT for the airdrop will be based on the previous day's closing price. Surprise Prize: Users who complete BMT spot trades and hold at least 10 BGB by 6:00 PM (UTC+8) on March 19th will automatically enter the lucky draw. Bitget will hold a live draw on the Bitget official X platform at 11:00 PM (UTC+8) on M

On March 18th, the international rating agency Fitch Ratings stated in its latest Global Economic Outlook that it anticipates global economic growth to decelerate to 2.3% this year, which is significantly below trend levels and also lower than 2.9% in 2024. Simultaneously, Fitch Ratings reduced its US economic growth forecast from 2.1% in December of last year to 1.7% and lowered its 2026 growth forecast from 1.7% to 1.5%. Fitch Ratings mentioned that tariff hikes would result in higher prices for US consumers, reduce real wages, increase business costs, and a sharp increase in policy uncertainty would have an impact on business investment. It is estimated that the tariff shock will cause US inflation to rise by 1% in the short term. We think that the Federal Reserve will postpone further policy easing until the fourth quarter of 2025. We now expect the Fed to only cut rates once this year. However, with the economic slowdown and the stabilization of tariff levels, we anticipate three

On March 18th, based on Coinglass data, if Bitcoin drops below $80,000, the cumulative intensity of long liquidation on mainstream CEXs will reach 5.09 billion. Conversely, if Bitcoin goes above $85,000, the cumulative intensity of short liquidation on mainstream CEXs will reach 16.4 billion. **BlockBeats Note**: The liquidation chart does not display the exact number of contracts to be liquidated or the exact value of the contracts being liquidated. The bars on the liquidation chart actually represent the significance of each liquidation cluster in relation to adjacent clusters, that is, intensity. Therefore, the liquidation chart shows to what degree reaching a certain price level will affect the market. Higher "liquidation bars" indicate that once the price reaches that level, a more intense reaction will occur due to a liquidity cascade.

On March 18th, based on market data, the U.S. stock market opened with the S&P 500 Index declining by 0.29% and the Nasdaq by 0.36%. Cryptocurrency stocks opened with increased losses, including: Coinbase (COIN) down by 3.2%; Tesla (TSLA) down by 5.85%; MicroStrategy (MSTR) down by 6.99%; MARA Holdings (MARA) down by 5.16%; Hut 8 Corp. (HUT) down by 5.13%.

On March 18th, according to crypto analyst Ericonomic. Based on on-chain data, Ethena has made a purchase of a token named "USDe" on Hyperliquid. Or it may integrate its stablecoin USDe into the Hyperliquid network. The analysis shows that the wallet with the code for purchasing USDe, "0x4758...d605", has funds that can be traced back to the Ethena deployer (EOA), which further confirms the Ethena team's participation. In addition, Ethena recently transferred funds to Hyperliquid and set up 4 to 8 multi-signature wallets, indicating that they may be getting ready for deployment. A relevant proposal was submitted to the Ethena governance forum in October last year, but the team has not officially announced the progress. Currently, Ethena may be waiting to deploy USDe until after the launch of HyperEVM and HyperCore interoperability features.