Viewpoint: Bitcoin's Relative Weakness to Gold Indicator Reaches Critical Level, Signaling Potential Bitcoin Price Reversal

As of March 2nd, data from Coinbob Popular Address Monitoring shows the whale wallet starting with 0x069 holds two positions: - A 10x leveraged short on Nasdaq 100 (XYZ100) with a size of $9.81 million and an average entry price of $25,020; - A 5x leveraged long on Gold (GOLD) with a $5.5 million size and $4,861 average entry, totaling $15.3 million in position value. On December 15, 2025, the whale opened a multi-million-dollar early short position on Nasdaq 100, initially betting on the end of the U.S. Federal Reserve’s rate-hike cycle and the index’s overvaluation—this position had previously been in floating loss. Two months later, on February 6th, the first round of U.S.-Iran talks kicked off in Muscat. The address bottom-fished amid expectations of peace, as gold prices dipped below $4,900 per ounce. This move came roughly 20 days before the situation escalated. On February 28th, missiles struck, and news of joint U.S.-Israel airstrikes emerged, fueling market risk a

March 2 Per Decrypt, South Korean Finance Minister Hong Nam-ki said the country will overhaul how public agencies manage digital assets. Prior incidents exposed gaps in the government’s custody and oversight of seized cryptocurrencies. The Ministry of Finance will work with entities including the Financial Services Commission and Financial Supervisory Service to review the current status and management of digital assets held by the government and public agencies (including those seized). It will take immediate steps to boost digital asset security and prevent future incidents. Earlier, police in Seoul’s Gangnam District violated custody standards, leading to the theft of 22 bitcoins (worth roughly $1.4 million at the time).

On March 2, PetroChina’s Shanghai-listed shares hit their daily limit during intraday trading, with turnover exceeding 7.8 billion yuan—possibly amid tensions in Iran. Market data shows PetroChina’s market value has surged by over 2 trillion yuan to a nearly 11-year high. Its intraday market cap topped 2 trillion yuan, outpacing the combined market values of Sinopec and CNOOC. (Source: Jinse)

**BOJ Deputy Governor Himino Gives No Clear Near-Term Rate Hike Signals** March 2 (Monday) — Bank of Japan Deputy Governor Ryozo Himino did not offer clear signals about a near-term interest rate hike in his latest speech, reinforcing market expectations that policymakers will hold steady at this month’s monetary policy meeting. Global economic uncertainty has deepened following last weekend’s Middle East conflict, including the U.S. strike on Iran. Himino’s remarks suggest the likelihood of a rate hike at the BOJ’s March 19 policy meeting is extremely slim. Source: Jinse

March 2: Iranian military says it has launched additional missiles at Israel, per Al Jazeera. (Golden 10)

March 2nd: Base co-founder Jesse today highlighted multiple Chinese KOLs who have long shared Base ecosystem-related content. Reacting to the move, Jesse stated: “Base belongs to everyone. Chinese community, here we come.”