Web3 Investment Research Weekly|This week, the market continued to fluctuate slightly; The US Bitcoin ETF has reduced its Bitcoin holdings by 4.76%.

Weekly Overview

The cryptocurrency market has largely continued the overall trend from last week since the opening this week. After the Federal Reserve announced to maintain interest rates, both the US stock market and the cryptocurrency market experienced a rebound, leading to a relatively high level in the overall market. Overall, the market is still greatly influenced by macroeconomic and policy factors, with mainstream cryptocurrencies in a state of correction and adjustment. Additionally, the adjustments to cryptocurrency-related policies in the US are undergoing a rapid change cycle following Trump's administration. In the short term, there is still a significant expectation of volatility in the cryptocurrency market, and the overall trend may resemble the changes from the same period last year, driven by external news factors prompting large-scale market fluctuations.

Overall, the market index this week has basically maintained a slight oscillation of ups and downs after opening. In the middle of the week, influenced by external news factors, there was a round of overall warming, but the extent was relatively limited, and the market sentiment has currently reached 31. As we approach the end of the week, the prices of leading mainstream cryptocurrencies have mainly experienced continuous slight fluctuations. It is expected that during the weekend, influenced by Trump's attendance at the New York Digital Assets Summit and the SEC roundtable meeting, a new short-term rise will occur again.

This week, the BTC price has shown relative strength, not falling below the key price level of $80,000 again. Influenced by external news factors, it has currently returned to fluctuate above $83,000.

The price movement of ETH is similar to that of BTC, with a slightly larger increase. The weekly high was around $2061, while the low was about $1872, and it is currently fluctuating around $2000. This week, the price movements of major cryptocurrencies were largely influenced by news factors, showing a certain degree of recovery. The overall market capitalization of the crypto market has increased compared to the same period last week, reaching around $2.75 trillion, with a decrease of 1.38% within 24 hours.

Compared to last week, the overall cryptocurrency market has warmed up this week, entering a new adjustment cycle influenced by news. The current price of BTC is around 84,000 USD. The current price of ETH is maintained at around 2,000 USD.

This week, the overall cryptocurrency market is experiencing rapid changes, with mainstream coins seeing some gains. The coin with the highest increase this week is FORM, which reached about 117% over the week, mainly due to the buying pressure triggered by its listing on major mainstream exchanges.

A new round of rallies is expected in the cryptocurrency market at the end of the week, depending on the market sentiment triggered by external news factors.

Crypto Market

🔥According to Cointelegraph, the CME Bitcoin futures gap from last weekend remains unfilled between $85,000 and $86,000. The likelihood of Bitcoin turning towards liquidity upside is increasing, and a liquidation triggered above $85,000 could further drive bullish momentum, forming new highs for Bitcoin and turning $85,000 into a new support level.

🔥According to Theblock, a major polling company that investigates left-wing support rates, Data For Progress conducted a new survey of 1,169 potential voters in the United States, and the results found that the majority of voters oppose using government spending to purchase and hold cryptocurrencies like Bitcoin and Ethereum as a strategic reserve.

🔥According to a report by Theblock, in February, the US spot Bitcoin ETF had net inflows for only 5 days, and so far in March, there has only been 1 day of net inflow. Since the beginning of 2025, the cumulative net inflows of the ETF have basically been wiped out.

🔥According to Cointelegraph, Markus Thielen, chief cryptocurrency researcher at 10xResearch, stated that Bitcoin is "very likely" to repeat its trend in 2024, entering a long period of consolidation after reaching a historical high.

🔥According to Bitcoin.com, the latest data shows that the US spot Bitcoin ETF has reduced its Bitcoin holdings by 4.76% since February 6, 2025.

🔥According to a memorandum released by the White House dated March 5, David Sacks, the AI and cryptocurrency czar of the United States, sold over $200 million in digital assets through personal channels and his company Craft Ventures before taking office to reduce potential conflicts of interest.

🔥 The on-chain analysis platform CryptoQuant tweeted that it is witnessing the weakest demand for Bitcoin this year.

🔥According to a report by The Block, Goldman Sachs mentioned cryptocurrency in its annual shareholder letter, acknowledging its increasingly important role in financial markets and competition.

🔥According to Cryptoslate, Francois Villeroy de Galhau, the Governor of the French Central Bank and a member of the European Central Bank's Governing Council, stated in an interview with the French newspaper La Tribune Dimanche that U.S. President Trump is making a huge mistake by supporting cryptocurrencies, and that the U.S. might be paving the way for the next financial crisis by embracing cryptocurrencies and non-bank finance.

🔥According to Cointelegraph, Bitcoin has dropped 30% after peaking in mid-January, but network economist Timothy Peterson believes a bull market may return.

🔥According to Cointelegraph, Anastasija Plotnikova, co-founder and CEO of blockchain regulatory company Fideum, stated that Meme coins are undermining the fundamental spirit of cryptocurrency decentralization and are increasingly being used to exploit retail investors amid a growing number of Rug Pulls.

🔥 According to Cointelegraph, while investors are generally concerned about the current correction, Bitcoin's historical bull cycle remains intact and may only be a temporary "shock" before the next rally, according to Cointelegraph. Bitfinex analysts pointed out that several key technical indicators have turned bearish, leading to speculation that the bull cycle may end prematurely, but despite this, Bitcoin's 4-year cycle is still an important factor, historically shaping price movements, past trends suggest that it is not the beginning of a long-term bear market, $72,000-73,000 is still a key support range, and global Treasury yields and stock trends may determine Bitcoin's next major move.

🔥According to Cointelegraph, Jason Calacanis, an early investor in Uber and Robinhood and a well-known angel investor, posted on the X platform that Bitcoin has been monopolized by some giants in the market, and now is the best time to create a better Bitcoin, "the game needs to be reset."

🔥According to Crypto.news, data from CryptoSlam shows that NFT trading volume decreased by 7.84% this week compared to the previous week, dropping from $121.5 million to $109.2 million.

🔥According to Solid Intel reports, Standard Chartered Bank's analysis suggests that if U.S. President Trump's proposed "crypto reserve" plan is successfully implemented, it could drive Bitcoin prices up to $500,000.

🔥According to Glassnode data, there is a significant supply gap for Bitcoin in the range of $70,000 to $80,000. If it falls below $80K, the market may experience a rapid correction.

🔥According to CoinDesk, Standard Chartered has significantly lowered its price target for ETH at the end of 2025 from $10,000 to $4,000 in its latest research report, believing that Ethereum is facing a structural decline.

🔥According to the latest report from JPMorgan, the Bitcoin network's hash rate increased by 2 EH/s in the first two weeks of March, reaching an average of 811 EH/s. However, due to a 10% drop in Bitcoin prices, miners' earnings are under pressure.

🔥According to a survey by Data for Progress, only 10% of American voters want the Trump administration to increase federal funding support for cryptocurrency and blockchain development. In contrast, many prioritize support for Social Security (65%), Medicare (64%), and infrastructure development (64%).

🔥According to Blockworks, U.S. President Trump will deliver a speech at the New York Digital Assets Summit (DAS) this Thursday, marking the first time a sitting president has spoken at a cryptocurrency industry conference.

🔥According to Decrypt, cryptocurrencies such as Bitcoin, Ethereum, and Solana rose after the Federal Reserve maintained interest rates on Wednesday and the Fed Chairman delivered reassuring remarks, with the U.S. stock market also climbing.

🔥According to The Block, the monthly number of risk trades in the crypto space has significantly contracted, with only 116 private trades tracked in February, marking one of the lowest points in recent years.

🔥According to a Reuters report, Jan Kubicek, a member of the Czech National Bank (CNB) board, holds a "skeptical attitude" towards including Bitcoin in the bank's large reserve assets, mainly concerned about its legal uncertainties and the volatility of digital currencies.

🔥According to a report by Forbes, three senior executives of Trump Media & Technology Group have established a new special purpose acquisition company (SPAC) aimed at acquiring businesses in the cryptocurrency or related industries, according to a registration statement submitted to the U.S. Securities and Exchange Commission (SEC) on Friday—meanwhile, the Trump administration is trying to shape the landscape of this industry.

🔥According to on-chain analyst Yu Jin's monitoring, the "Hyperliquid 50x Whale" made frenzied trades around the Federal Reserve interest rate announcement event from 12 AM to 3 AM, simultaneously going long and short on BTC, transforming 690,000 USDC into 1,826,000 USDC, yielding a profit of 164%.

🔥10x Research stated on platform X: "According to multiple indicators, Bitcoin is currently in a small bear market. As we emphasized earlier, $90,000 is a key pivot level. The recent trend is a short-term counter-trend rebound, providing an opportunity to profit during this broader consolidation phase. As we anticipated, the FOMC meeting was slightly dovish."

Regulation & Macroeconomic Policy

🔥According to Cointelegraph, the U.S. Senate Banking Committee voted to pass the GENIUS Act, a bill regulating the issuers of stablecoins, paving the way for the adoption of stablecoins as a means of payment outside the cryptocurrency trading space. However, this bill may trigger the potential privatization of the dollar and could elevate the risks of de-dollarization.

🔥 According to Korea Economic Television, the Bank of Korea made it clear that it "has never considered including bitcoin in its foreign exchange reserves."

🔥According to Brazilian media "O Globo", Brazil plans to simplify international financial transactions for import and export contracts between BRICS member countries by utilizing blockchain technology.

🔥According to Cryptoslate, the Pakistani government has established the Pakistan Cryptocurrency Committee (PCC) to oversee the integration and use of blockchain technology and digital assets in the country's financial sector.

🔥 U.S. President Trump previously signed an executive order directing the U.S. Department of the Treasury and the Department of Commerce to establish a sovereign wealth fund within the next 12 months, to be managed by former Morgan Stanley tech investment banker Michael Grimes. The fund is expected to primarily source its capital from tariffs.

🔥According to the Electronic Times, the Financial Supervisory Service (FSS) of South Korea has required cryptocurrency exchanges to pay a total of 7.9 billion won (approximately 5.54 million USD) in annual regulatory fees.

🔥According to The Block, the U.S. Securities and Exchange Commission (SEC) is considering withdrawing a proposal aimed at tightening cryptocurrency custody requirements, marking the latest move by the acting chair under the Trump administration.

🔥 The acting chair of the U.S. Securities and Exchange Commission (SEC) stated that they are considering adjustments to the monthly reporting rules regarding the holdings of mutual funds and ETFs. They are contemplating the cancellation or modification of proposals related to investor asset protection (including cryptocurrency) that were put forward during Biden's term.

🔥According to Solid Intel, the first roundtable meeting of the U.S. Securities and Exchange Commission (SEC) cryptocurrency working group will begin on March 21, 2025, and will discuss important topics related to the regulation of cryptocurrency assets.

🔥The Dubai Land Department (DLD) announced the launch of a pilot project for real estate tokenization, becoming the first real estate registration entity in the Middle East to manage property ownership certificates using blockchain technology. This project is jointly developed by the Dubai Land Department, the Virtual Assets Regulatory Authority (VARA), and the Dubai Future Foundation (DFF).

Highlights of the Cryptocurrency Market

⭐️In the past week, the overall cryptocurrency market has returned, significantly influenced by macroeconomic factors and policies. The U.S. stock market has risen in response, and the crypto market has followed suit, leading to an upward trend this week. Over the past week, most mainstream coins have been in a new round of upward volatility, and overall, the market has a high possibility of further warming in the short term.

⭐️This week, the increase in the crypto market's FORM ranks first among mainstream coins. The listing of this coin on major exchanges this week has attracted a large number of users, resulting in FORM's growth reaching TOP1 this week. The current price is around 1.8 dollars, and although there has been a price adjustment, there still exists a further upward price fluctuation range.

Bitcoin & Ethereum Weekly Performance

Bitcoin (BTC)

( Data source: TradingView )

This week, the price of BTC has shown a continuous fluctuation trend after opening, primarily characterized by rapid intraday rises and falls. Following the Federal Reserve's decision to maintain interest rates, the crypto market has seen a warming trend. The price of BTC itself has been relatively strong recently, remaining above the key price level of 80,000 USD. Influenced by news factors, the price temporarily rebounded above 87,000 USD. Currently, the price of BTC has dropped again to above 84,000 USD, with the possibility of further upward movement in the short term. The future performance of BTC's price will largely depend on overall market trends, macroeconomic factors, and policy influences.

Ethereum (ETH)

( Data source: TradingView )

The price trend of ETH this week is similar to that of BTC, being largely influenced by external news factors, and the extent of its price recovery is somewhat larger compared to BTC. After the price rebounded above 2000 USD, it began to show a short-term downward trend. It is currently maintaining fluctuations around 2000 USD. The current ETH price is above 1900 USD, and the probability of breaking through the 2000 USD level again is quite high. The weekly price peak for ETH is around 2050 USD, and it is expected that there will be a new round of price fluctuations over the weekend, with a higher probability of further recovery.

Web3 Project Trends

This week, the total market value of seven categories of projects has risen across the board, mainly influenced by news factors, with the overall market warming up. However, the overall range remains relatively narrow, and some cryptocurrencies have seen significant increases, while the market as a whole is still in an adjustment period. Recently, the market has been significantly affected by news factors and macroeconomic influences, and there is a high probability of further increases during the weekend closing period.

| Project Category | Weekly Change | Top Three Tokens by Weekly Increase | Overview | | ------------ | ------------ | ------------ | ------------ | | Layer 1 | 1.6% | ACG,ZCD,MEWC | The market capitalization of the Layer 1 track has seen a slight recovery this week, with the top currencies showing a concentrated increase, and overall, the number of actively performing projects remains limited.| | Layer 2 | 2.8% |XFI,SOONX,CWEB|The market performance of the Layer 2 sector this week is quite similar to that of the Layer 1 sector, mainly characterized by a slight overall recovery. The increase in the leading cryptocurrencies is relatively limited, and the overall distribution is relatively even.| | DeFi | 5.7% | TRADE,PRIME,DEPAY | The total market value of the DeFi sector has seen a moderate recovery this week, but the increase in leading coins is relatively concentrated, focused on a few popular coins.| | NFT | 4.8% | MSTR,XED,DMPD | The total market value of NFTs this week has increased at a similar rate to other sectors, with significant gains in top-performing coins, but the overall upward trend is very uneven. | MEME | 2.4% | BUBB,CATME,KM| The MEME coin sector shows a weaker rebound trend this week, with the increase in leading coins not comparable to recent times, mainly driven by non-mainstream coins. | Liquid Staking | 5.8% | MSTR,URO,STAKELAYER | This sector has warmed up this week, with growth concentrated on a few specific coins, heavily influenced by the trends of mainstream currencies, resulting in a very uneven overall increase.| | AI | 3.5% |ERALAB,MATRIX,AUKI | The AI sector saw a slight recovery this week, with top rising coins maintaining moderate gains. The overall sector has recently followed the market's warming trend.

Author: Charles T., Gate.io Researcher *This article only represents the author's opinion and does not constitute any trading advice. Investment carries risks, and decisions should be made with caution. *The content of this article is original and copyright belongs to Gate.io. If reprinted, please indicate the author and source, otherwise legal responsibility will be pursued.