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💡 Market Trends
This week, the crypto market experienced volatile fluctuations, rising initially and then falling. On March 17th, it broke upwards, reaching a weekly high of $76,000, before encountering strong selling pressure and a sharp drop to $68,790. ETH saw a strong 8% surge on March 16th, but subsequently failed to stabilize due to broader market influences. Regarding fund flows, the BTC ETF's fund momentum reversed after seven consecutive trading days. The ETH ETF, like many others, failed to maintain its upward trend after six consecutive trading days of net inflows.
On a macro level, the FOMC decided on March 19th to keep the benchmark interest rate between 3.5% and 3.75%, in line with a 95.5% market probability expectation. Powell's hawkish remarks after the meeting directly triggered a sell-off of risk assets, with US stocks, precious metals, and cryptocurrencies all suffering losses.
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