Macro Overview
- US Prelim GDP Q/Q: Came in line with expectations, which is neutral for the market.
- US PCE Price Index: Came in line with expectations, which is neutral for the market. A small uptick followed the announcement.
Crypto Markets Overview
- Market Movement: This week, the crypto market experienced a -15.86% fall, bringing the total market capitalization to $2.62 trillion. Notably, BTC saw a fall of -17.12% and ETH saw a fall of -19.20%. Bitcoin’s dominance stands at 60.80%, while Ethereum’s holds at 9.81%.
- Bitcoin plunges amid crypto selloff as Donald Trump acts on tariff threat: President Donald Trump announced Thursday plans to impose tariffs on Canada and Mexico starting March 4, alongside doubling the 10% universal tariff on imports from China.
Bitcoin slipped below the 200-day simple moving average (SMA).Prices briefly dipped below $80,000 for the first time since Nov. 10 as renewed concerns over U.S. tariffs increased demand for the U.S. dollar. - Strategy Buys $2B in Bitcoin – Largest Purchase of 2025: Strategy (formerly MicroStrategy) acquired 20,000+ BTC for nearly $2B, reinforcing its position as a top corporate Bitcoin holder. The purchase follows a $2B stock offering, but MSTR shares have struggled, raising concerns over Bitcoin’s volatility impact.
- SEC Drops Uniswap Case as Crypto Rules Shift: The SEC has officially ended its investigation into Uniswap Labs, briefly boosting UNI’s price despite a bearish market. This decision signals a shift in regulatory enforcement, raising the urgency for a clearer legal framework in crypto.
- US Spot Bitcoin ETFs Face $3.2B Outflow Streak: Bitcoin ETFs have seen eight consecutive days of outflows, totaling $3.2 billion, marking the longest streak since August 2024. So far, only four days of net inflows have been recorded this month, with total monthly outflows reaching $3.65 billion.
Top Tokens Update
- Coinbase and NEAR Partner to Develop Open AI Services: Coinbase and NEAR have teamed up with other organizations to build open AI services, aiming to integrate AI into blockchain platforms. This collaboration could boost crypto adoption and enhance market analytics, potentially influencing trading strategies.
- Massive $3.9B Crypto Token Unlock in March: March 2025 will see $3.9 billion in token unlocks, led by Layer 1 tokens ($SOL, $BERA, $SUI) with $1.6 billion. Liquid staking follows with $1 billion, primarily from Ethena’s $ENA. AI & AI Agent sector will unlock $488.7 million, driven by $WLD, $TAO, and $QAI.
“Big Picture: Upcoming Weeks’ Key Economic Events”
| DATE | TIME | EVENT | USUAL EFFECT |
| Mar-6 | 7:15 PM | EZ ECB Press Conference | More dovish than expected is good for crypto |
| Mar-7 | 7:00 PM | US Unemployment Rate | Actual’ greater than ‘Forecast’ is good for crypto |
Bitcoin Technical Analysis
Summary:
- The current sentiment around BTC is Neutral. (Uncertain)
- Bitcoin continued its decline, breaking below the key $92K support level. The sell-off was triggered by the Bybit wallet hack, tariff news, and ongoing ETF outflows. Currently, BTC is in a no-trading zone, caught between two CME gaps. With no clear direction, next week’s sentiment remains uncertain—making it a wait-and-watch market.
- Key support levels to consider are around $73,000 and $69,000 On the upside, resistance level is at $86,500 and $95,000.
- It is advisable to evaluate potential entry points around the mentioned support levels for long entries and at resistance levels for short entries. Additionally, setting limits to manage potential losses is prudent.
- For profit-taking, strategically selling near the outlined resistance levels/support levels is a recommended approach. Always exercise caution and implement sound risk management practices in trading endeavours.
Ethereum Technical Analysis
Summary:
- The current sentiment around ETH appears Neutral. (Uncertain)
- Ethereum mirrored BTC’s movement, experiencing a significant drop. It is currently sitting at a major support level—if broken, a further 15-20% decline is possible. There are no signs of a reversal yet, keeping the direction uncertain for now.
- Significant support levels include $2150 and $1730, while resistance levels to watch are at $2385 and $2759.
- These levels play a crucial role in determining potential price movements. It is advisable to evaluate potential entry points around the mentioned support levels for long entries and at resistance levels for short entries. Additionally, setting limits to manage potential losses is prudent.
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