pullback

Investment bank William Blair stated that after a decline of about 26% from its peak in the first quarter, Coinbase has basically completed its de-risking, and the market's expectations for its weak trading volume and revenue have been fully reflected in its stock price.Analysts pointed out that although the trading data in the first quarter was weak, it had limited impact on market sentiment, and the company is enhancing its competitiveness through a "full-service trading platform" that includes derivatives, staking, stock trading, and prediction markets. The report emphasized that the continued growth of the stablecoin USDC is a core positive, with its market share rising to about 27%, a significant increase from around 21% in 2024, and it continues to capture market share from USDT.William Blair believes that the expansion of USDC brings synergistic benefits to Coinbase and its issuer Circle, and is optimistic about the latter's long-term value in stablecoin payment and trading scenarios. At the same time, institutions believe that the probability of a long-term downturn in the cryptocurrency market is low, and Coinbase has "asymmetric upside potential" in the market recovery.

According to Jinshi reports, Goldman Sachs' pre-market stock price has retraced, with earlier gains turning into losses.

According to Gate market data, on Thursday, U.S. stocks fell sharply, with the Nasdaq Composite Index dropping more than 2%, nearly 11% down from its peak on October 29 of last year, confirming it has entered a correction zone. On that day, the Nasdaq and S&P 500 Index recorded their largest single-day decline since January 20. U.S. stock futures narrowed their losses after the close, as Trump announced a temporary halt to attacks on Iranian energy facilities until April 6. Ryan Detrick, chief market strategist at Carson Group, stated that this war has greatly impacted investor sentiment, and the fluctuations in the Nasdaq confirm that the overall weakness is still ongoing.

According to SoSoValue data, the negotiation deadlock has reignited market panic, leading to a general pullback in the crypto sector. The AI sector performed poorly, dropping 7.96% in 24 hours, with Siren (SIREN), which had previously risen continuously, falling 29.88%. Worldcoin (WLD) and Kite (KITE) dropped 8.81% and 16.6%, respectively. Meanwhile, Bitcoin (BTC) fell 3.17%, dropping below $69,000; Ethereum (ETH) decreased by 4.21%, falling below $2,100.In other sectors, the CeFi sector dropped 2.2% in 24 hours, but Aster (ASTER) rose 1.35%; the PayFi sector fell 2.88%, with XRP (XRP) down 3.16%; the Layer1 sector decreased by 3.26%, while Canton Network (CC) surged 2.53% during the day; the DeFi sector fell 3.77%, with Onyxcoin (XCN) relatively strong, rising 5.34%; the Layer2 sector dropped 4.04%, while OpenLedger (OPEN) rose against the trend by 8%; the Meme sector fell 5.14%, with BUILDon (B) surging 2.14% during the day.The crypto sector index reflecting historical market trends shows that the ssiSocialFi, ssiAI, and ssiMeme indices fell by 5.25%, 5.11%, and 4.17%, respectively.

According to Binance spot data, the market has experienced significant fluctuations. BANANAS31 has risen by 19.13% in 24 hours, while also reaching a bottom rebound state.In addition, DEGO has also shown a bottom rebound state, with an increase of 7.84%. Among the other tokens, WAXP, GUN, IDEX, and STO have all shown a "high pullback" state, with declines of 11.73%, 18.07%, 7.09%, and 7.24% respectively. Meanwhile, BERA has reached a new low for the week, with a decline of 26.2%.

According to Binance spot data, the market shows a divergence between bulls and bears. IDEX has a 24-hour decline of 9.04%, and BARD has a 24-hour decline of 8.98%, both experiencing a "high and then falling back" state.At the same time, FIO has reached a new low for the week, with a 24-hour decline of 24.54%. Other tokens such as C98, SEI, POL, PHA, AXS, and GTC have also reached new lows today, with declines ranging from 5.26% to 10.41%.

According to Binance spot data, the market shows a divergence between bulls and bears. ANIME has fallen 7.9% in the last 24 hours, entering a "high and then falling" state.At the same time, JOE, W, HEI, FRAX, ARPA, BAND, and SAGA have all reached new lows today, with declines of 5.12%, 7.39%, 5.13%, 5.18%, 5.52%, and 7.03%, respectively.

According to monitoring by Hyperinsight, the "Strategy Opponent's Address" (0x94d3...) continuously rolled over its short positions in BTC and ETH within about ten minutes, accumulating an increase of 214.60 BTC (approximately 14.51 million USD) and 3488.85 ETH (approximately 6.69 million USD). The total short position size has thus expanded to 130 million USD.After this round of increasing positions, its BTC short position size rose to 81.31 million USD, with an average price adjusted down to 71,159.60 USD, currently showing an unrealized profit of 1.738 million USD (+85.53%), and it has now become the largest on-chain BTC long;The ETH short position size rose to 48.08 million USD, with an average price adjusted down to 2,198.89 USD, currently showing an unrealized profit of 1.023 million USD (+53.18%).

According to SoSoValue data, the overall cryptocurrency market is in a correction trend. The RWA sector leads the market decline, dropping 3.92% in 24 hours, with Ondo Finance (ONDO) down 2.76% and Pendle (PENDLE) down 3.12%. Meanwhile, Bitcoin (BTC) fell 1.92%, dipping below $74,000 during the day; Ethereum (ETH) decreased by 1.3%, falling to just above $2,300.In other sectors, the DeFi sector dropped 0.39% in 24 hours, but River (RIVER) rose 12.22%; the Layer1 sector fell 0.53%, with Kaspa (KAS) relatively strong, increasing by 9.87%; the Meme sector declined 1.02%, while Siren (SIREN) went against the trend, rising 29.79%; the CeFi sector decreased by 1.77%, with Cronos (CRO) down 3.19%; the Layer2 sector fell 2.14%, while zkSync (ZK) surged 2.16% during the day; the PayFi sector dropped 2.63%, with XRP down 3.51%.The cryptocurrency sector indices reflecting historical market trends show that the ssiSocialFi index rose 0.77%, the ssiRWA index fell 4.04%, and the ssiPayFi index decreased by 2.64%.

According to Binance spot data, the market is polarized, with multiple tokens experiencing a rise followed by a decline. DGB has dropped 9.49% in 24 hours, ENJ has dropped 14.23% in 24 hours, and OGN has dropped 15.25% in 24 hours.In addition, RLC has dropped 9.41%, STRAX has dropped 7.94%, SUN has dropped 7.72%, BICO has dropped 5.89%, ASTR has dropped 6.23%, and POLYX has dropped 10.93%.

According to independent analyst Markus Thielen, Ethereum has accumulated a decline of about 63% in this cycle, reaching a low of $1837, and the current price is testing the technical resistance level at the upper edge of the downward channel.The recent price recovery has been primarily driven by options capital flow and the Gamma hedging mechanism, with no significant changes in the fundamentals. Although ETF demand has shown some signs of recovery, derivative positions remain the core factor affecting recent trends. Analysts point out that the financial asset attributes of Ethereum are becoming increasingly apparent, and its price movement has begun to decouple from traditional major asset classes. The traditional risk-on/risk-off framework has limited explanatory power, and the crypto market may be forming a more independent pricing logic, with the position structure and capital flow worthy of continuous tracking.

According to Binance spot data, the market has experienced significant fluctuations. CAKE has risen by 18.32% and 18.18% in 24 hours, showing a rebound after hitting a low.At the same time, PSG has shown a "high to low" state, with a 24-hour decline of 16.36%. HFT has also shown a "high to low" state, with a decline of 15.12%. Additionally, MAV, DYM, TAO, and TST have all shown a "high to low" state, with declines of 13.9%, 11.47%, 5.18%, and 5.49%, respectively.

According to Binance spot data, the market has experienced significant fluctuations. OXT has dropped by 28.93% in 24 hours.At the same time, ONG has decreased by 9.28% in 24 hours, QUICK by 5.21%, RIF by 8.8%, BICO by 6.7%, GLMR by 11.03%, API3 by 12.47%, ACE by 16.3%, and LUMIA by 7.87%, all showing a "high and then low" state.

According to Binance spot data, the market has experienced significant fluctuations. FLOW has dropped by 16.79% in the last 24 hours, while OGN has seen a decline of 24.35%.In addition, BAND, CHR, ILV, HOOK, VANRY, BB, and RENDER have also shown a "high to low" state, with declines of 8.7%, 6.75%, 7.06%, 6.79%, 16.55%, 5.16%, and 5.63%, respectively.

According to CoinDesk, data from the on-chain analysis platform Glassnode shows that during the recent pullback of Bitcoin below $70,000, traders have been buying the dip significantly, accumulating nearly 600,000 BTC, valued at approximately $4.248 billion at current prices, with about 200,000 BTC of that amount purchased in just the past two weeks.At the beginning of this year, the last transfer of BTC in the range of $60,000 to $70,000 was about 997,000 coins, and after Bitcoin recently fell below $70,000, that number has risen to approximately 1.558 million coins. This means that currently about 8% of the circulating supply was bought in the $60,000 to $70,000 range, forming a relatively dense cost zone for holdings, which may become an important support level in the future.

According to Binance spot data, the market has experienced significant fluctuations. OPN has risen by 10.83% in 24 hours and has reached a bottom-rebound state, while PHA has also reached a bottom-rebound state with an increase of 8.2%.At the same time, ANKR, COS, KSM, and FF have all shown a "high-to-low" state, with declines of 9.9%, 5.76%, 7.24%, and 8.59% respectively. Additionally, SYS, STO, and CHZ have also reached new highs today, with increases of 5.17%, 6.46%, and 8% respectively.

According to Binance spot market data, there has been significant volatility in the market. FARM has increased by 16.38% in 24 hours and has shown a rebound after hitting a low.At the same time, CTSI has experienced a "high and then low" situation, with a 24-hour decline of 12.83% and 10.49%. Other tokens such as KAVA, KSM, LRC, MLN, and ALCX have also shown a "high and then low" situation, with declines ranging from 7% to 10%.

Retail investors have made significant purchases as Bitcoin dropped below $70,000, but the crypto sentiment platform Santiment indicates that if historical patterns repeat, whale activity suggests that prices may still decline further.In a report on Friday, Santiment stated: When Bitcoin reached $74,000, these key stakeholders began to take profits.Santiment explained that whales holding between 10 and 10,000 Bitcoins "accumulated heavily" between February 23 and March 3, when Bitcoin was trading between $62,900 and $69,600.Since Bitcoin broke through $70,000 and reached $74,000 on Wednesday, this group has sold about 66% of their recent purchases. Meanwhile, retail investors holding less than 0.01 Bitcoin have been increasing their positions."When retail buys while whales sell, it typically indicates that the pullback is not over," Santiment stated.

According to Binance spot data, the market has experienced significant fluctuations. HUMA has increased by 6.64% in 24 hours and is in a state of rebound after hitting a low.Meanwhile, tokens such as FLOW, KAVA, LA, SKY, ALICE, STRK, and EIGEN have all shown a "high and then low" or "new low for today" status, with respective declines of 5.56%, 6.1%, 8.76%, 5.51%, 6.96%, 6.38%, and 8.13%.

Bit Digital CEO Sam Tabar posted on the X platform that the recent Ethereum market resembles a "value reset," with market leverage rapidly entering and then quickly reassessing, leaving clear traces of liquidation due to a wave of forced closures, and the bid-ask squeeze amplifying volatility.Now that the market has stabilized, the price of Ethereum has returned to the structural support range of $1800 to $2100. Currently, there has been no substantial change in Ethereum's fundamentals: stablecoin settlements are active, Rollups are still anchored to the mainnet, and in programmable settlement scenarios that need to meet institutional risk assessments, Ethereum remains the preferred choice.Market bottoms are usually only confirmed in hindsight, but this event demonstrates how leverage can quickly distort the market, while Ethereum's long-term value and fundamentals remain solid.