Data shows that as the market adjustment is approaching, Bitcoin fee income has seen a significant drop this week. According to the blockchain analysis platform IntoTheBlock, Bitcoin fee income this week was only $20.3 million, a decrease of 33.1%. Analysis suggests that this situation may be related to the decline of the BRC-20 trend and the decrease in Bitcoin Ordinals activity. In addition, since the approval of the spot Bitcoin ETF, $700 million worth of BTC has been withdrawn from CEX.

According to Coinglass data, the total liquidation in the past 24 hours was $542 million, including $454 million in long positions and $87.79 million in short positions.

According to Coinglass data, the nominal value of unclosed BTC option positions on the entire network is 28.75 billion US dollars, and the nominal value of unclosed ETH option positions is 13.51 billion US dollars.

Coinglass data shows that the current balance of BTC on major exchanges has dropped to 1.82 million coins, a decrease of 60,000 coins so far this year, including:

Vanguard Group CEO Tim Buckley has long been strongly opposed to Bitcoin ETFs, despite facing criticism from customers and continued inquiries about the company's ETF plans. In a recent video released by Vanguard, Buckley warned that due to the volatility of Bitcoin ETFs, they should not be included in retirement investment plans as they are speculative assets. Buckley also questions the status of Bitcoin as a store of value, noting that during the 2022 stock market crash, Bitcoin also experienced a significant drop. He stated, "When the stock market was hit hard in the recent crisis, Bitcoin also fell. So it is speculative and difficult to consider its place in a long-term investment portfolio." (Cointelegraph)

On March 16th, 10x Research released a new report stating that the prospects for approval of an Ethereum ETF seem less optimistic compared to Bitcoin, with analysts estimating a likelihood of approval at only 30%. This uncertainty may weigh on Bitcoin after the Dencun upgrade is implemented. In addition, recent inflation data in Europe and the United States has been released, and central bank officials' unwillingness to commit to further interest rate cuts has further dampened market sentiment, leading to Bitcoin selling during the Asian trading session.

On March 16th, according to data from Magic Eden, Runestone has completed all 112,383 airdrops, and the current floor price is temporarily reported as 0.0218 BTC. The cumulative trading volume has exceeded 206.6358 BTC, and the number of holding addresses is close to 98,000.

Salvadoran President Nayib Bukele stated on social media that one Bitcoin per day plan has just been deposited today. Data shows that El Salvador holds 5,690 Bitcoins.

Quantum Cats "cat0396" was successfully auctioned off at Sotheby's for 1.8 BTC, equivalent to approximately $127,000. Cat0396 is a rare NFT in the Bitcoin NFT series, with a chain inscription number of 53,786,256. This work was created in 2024 and is unique among the 3,333 works in the Quantum Cat series. It was engraved in 2024 and is currently the only Quantum Cats with a golden cape, which is said to be exchangeable for Golden Capes in the future.

According to official sources, Bitcoin wallet Xverse has announced that it is airdropping 112,383 Runestone tokens to its users. Additionally, Xverse has announced the launch of its first Runestone forging application on the test network, which supports one-click forging of runes, tracking of rune balances, and will later support users deploying their own runes.

In an exclusive joint AMA session held on the evening of March 15th between bitSmiley and Unisat, significant developments were unveiled. bitSmiley announced its participation in proposing a new protocol to support the minting and burning functionalities of the BRC20 standard.

Bitcoin's price has dropped nearly 3% in the last 24 hours following news that inflation in February was higher than expected. The producer price index rose 0.6% last month, indicating that inflation is not going away anytime soon. As a result, stocks, particularly tech stocks, have also dropped. Investors are hoping that the Federal Reserve will cut interest rates by May, which could cause Bitcoin's price to continue to surge.

According to SoSo Value data, on March 13th, the Bitcoin futures open interest reached a new all-time high. As of the time of writing, the Bitcoin futures open interest has reached $33.94 billion, surpassing the second-highest point in November 2021 of $23.04 billion. At the same time, the Bitcoin funding rates on mainstream exchanges including Binance and OKX have also reached a new high not seen since the beginning of 2023.

According to OKX market information, Bitcoin briefly fell below $71,000 and is currently priced at $71,468, with a 24-hour decline of 1.29%.

Bitcoin has broken to its fourth cycle all-time-high, rallying above $72k, and pushing sentiment one step closer to Euphoria. The classic wealth transfer from the HODLer cohort to speculators is now well underway, with significant upticks in spot profit taking, and demand for futures leverage.

According to Coinbase data on March 12th, Bitcoin broke through $73,000 and is now priced at $73,027, continuing to reach new historical highs.

Bloomberg reported that Erik Thedeen, Governor of the Swedish Central Bank, said: "I hope to see as little Bitcoin as possible in the Swedish financial system. It is an unvaluable tool and is actually based on pure speculation. Although Bitcoin does not pose a threat to financial stability, it is still a risk to consumers."

In the ever-evolving landscape of blockchain and cryptocurrency, ZKBase has taken a significant leap forward with the introduction of ZKSwap(Bitcoin) V0.1 Testnet on March 11, 2024.

Deribit's Asia-Pacific business director, Lin Chen, posted on X platform today that the largest BTC option bulk is a bull market price difference. A large account paid $3.618 million to buy 525 BTC call options with a strike price of $70,000 expiring at the end of April, while selling $90,000 call options. This means that they speculate that BTC can soar to nearly $90,000 before the end of April.

Trade Strategy: Call Ladder View: Moderately Bullish View on BTC