March 10th Bitfinex Alpha | Market loss increases as the bulls are hesitant.
Bitfinex alpha
After briefly recovering $ 90,000 last week, Bitcoin now has begun a new volatility range between $ 85,000 and $ 92,000 as uncertainty continues to darken the market. As the price surged early last week, the US strategic Bitcoin Protection Zone and the White House encryption summit were accompanied by the summit, but as the news was confirmed, merchants took a “new sales” approach and the market quickly gained profits. The options market was added to volatility last week, and last Friday, the Bitcoin and Etherrium agreement amounted to $ 3 billion, and the price was added.
The options have soared to more than 80 % of volatility, and signaling has increased instability as signaling reacts to changes in macroeconomic conditions. Implied volatility increased 35.7 % from the summit as the merchants hedge their positions. Nevertheless, according to all chain data, many traders showed significant losses last week, the loss of market participants was $ 818 million a day, and is one of the largest daily losses in this weekly. Designed and macroeconomic problems remain considerable, but these extensive surrender often prioritize market stabilization.
Bitcoin’s consumed profit ratio (SOPR) has fallen to the loss area for the first time since October 2024, showing significant pain. The short -term holder SOP records the second largest negative printing of this period to 0.95 and indicates that the new market participant is brewing. Historically, the SOP measures signals above 1.0 signals and measures optimistic continuous continuation, while weaknesses below this level can propose a greater drop. If the bull market structure remains the same, the buyer must start dialing the foot at this level and make it a key indicator to monitor SOP in the next few weeks.
However, the current macroeconomic indicators do not point to the clear direction. The US vocational market, productivity and manufacturing sector data are crisally mixed as efficient increase due to steady employment growth, wage increase and inflation pressure, trade interruption and prudent business expansion. The US job market maintains elasticity by adding 151,000 jobs in February, but the unemployment rate has increased to 4.1 %due to the government’s reduction of jobs. Wage growth is still strong, but if labor and inflation pressure rises, you can challenge expectations for cutting multiple fuel rates this year.
On the other hand, workers’ productivity increases by 1.5 % in the fourth quarter of 2024, helping companies to offset the cost of costs without expanding their manpower, but long -term risks remain when employment is stagnant. On the other hand, the manufacturing sector raises concerns about the capacity of the sector that maintains growth in trade uncertainty as new tariffs increase production costs and slow new spells.
US President Donald Trump’s strategic Bitcoin protection zone has a historical change in Bitcoin, which has been seized by more than 187,000 BTC integration of $ 13 billion. His executive also finds the Stablecoin law by August and strengthens the US position as an American encryption leader by ending restriction policies such as the Operation Choke Point 2.0. Trump’s strategic bitcoin preliminary plan allows the United States to maintain long -term financial assets instead of selling BTCs to affect global encryption policies.
Meanwhile, the SEC’s encryption task force will hold a roundtable meeting to clarify the security status of digital assets on March 21, informing the shift to a more systematic regulatory guideline, and the Liberal Democratic Party has reduced capital gains to 20 %and classified cryptocurrency as separate assets. This reform also encourages digital asset investment by proposing tax postponement on equal tax processing for encryption-crypto swaps and derivatives.