Market Analysis:

On March 25, the market is experiencing a typical "technical rebound under macroeconomic headwinds." Gold has stabilized and rebounded after consecutive sharp declines, while the crypto market is seeing intense back-and-forth action around the $70,000 level.

Macro News:

1. Market trading logic has shifted from inflation driven by crude oil supply disruptions to "global economic recession." High oil prices expose central banks worldwide to dual shocks from inflation and reduced import payment capacity, potentially leading to partial liquidation of gold reserves.

2. Trump's "ceasefire" rhetoric has improved market sentiment. Despite Iran's denial, market expectations for short-term conflict de-escalation have boosted risk appetite and temporarily eased gold selling pressure. This round of gains is not a fundamental shift to bullish positioning, but rather a technical rebound following consecutive sharp declines plus short covering. Brent crude has also retreated below $100 from its highs, temporarily cooling market concerns about the vicious cycle of "oil prices → inflation → rate hikes."

3. Market expectations for short-term conflict de-escalation have relieved selling pressure in the crypto market. Strategy (formerly MicroStrategy) announced purchases of over 1,000 BTC, Bitmine purchased 65,341 ETH, and on-chain signals show large ETH whale activity becoming more active with sustained institutional capital deployment.

Special Reminder: The gold rebound is technical in nature while macroeconomic tightening headwinds persist. Crypto market resilience remains, but volatility is still intense. Strictly control position sizes and wait for the market to fully stabilize before increasing positioning.