3.27 Early Morning

The Federal Reserve continues to maintain high interest rate levels, and amid the ongoing escalation of Middle East geopolitical conflicts, international oil prices have risen further, heightening global inflation concerns. The expectation of Fed rate cuts has been significantly delayed, and market hopes for loose monetary policy are cooling down. Against this backdrop, the US dollar index has strengthened strongly, putting comprehensive pressure on global risk asset valuations. As a high-risk sector, the crypto market is the first to experience capital outflows and sentiment cooling.

Bitcoin briefly fell below the critical $70,000 level, showing a clear bearish alignment on the daily chart, with moving averages on the 4-hour chart forming a death cross, establishing a short-term bearish trend.
Support level: Key support zone at $68,000-$69,000; a break below could open further downside space.
Resistance level: Short-term rebound resistance concentrated at $70,000-$71,000; failure to break through this resistance may prolong the bearish trend.

Ethereum followed Bitcoin’s downward movement, effectively breaking below the $2,200 support level, with a weak trend in line with the broader market.
Support level: Critical support zone at $2,050-$2,080, serving as the short-term bull-bear dividing line.
Resistance level: Rebound resistance focused at $2,150-$2,200; pressure here makes it difficult for the weakness to reverse.

Currently, market selling pressure is concentrated and intensifying, with overall negative sentiment: holdings related to Bhutan continue to be sold off, with cumulative sales exceeding $150 million since 2026; miner holdings remain high-cost, and current prices are well below the miners’ break-even point, with losses prompting continued sell-offs; the total short-term liquidation amount across the network has reached $255 million. Coupled with whale chip turnover, panic spreads in the market, with low willingness for new capital to enter and existing capital continuing to exit.

Bitcoin: Rebound around $69,500-$70,300, 👀 $68,500-$67,000

Altcoins: Around $2,100-$2,140, 👀 $2,030-$1,950$BTC $ETH