BTC fluctuations anticipate US February PCE data

Mainstream data observations

1. BTC core liquidation levels: Long positions: $85,235, liquidation amount: $735M; Short Positions: $86,351, liquidation amount: $219M. 

The liquidation price for long positions is $85,235, with a liquidation amount of $735M, indicating a large number of positions at this level. If the price drops and reaches this area, it could trigger a chain reaction of liquidations, intensifying downward pressure.

2. ETH core liquidation levels: Long positions: $1,912.1, liquidation amount: $49.13M; Short positions: $1,951.1, liquidation amount: $122M

The liquidation price for short positions is $1,951.1, with a liquidation amount of approximately $122M, indicating that short positions are concentrated at this level. A break above this price could trigger a massive short liquidation, leading to a short squeeze and pushing prices higher in the short term. If the price rises above $1,951.1, traders should monitor for the possibility of forced short covering. Conversely, if the price falls towards $1,912.1, be cautious of further downward pressure from long liquidations.

3. BTC market dominance: 60.81% (24h change: +0.46%)
4. TOTAL 3 market cap: $2.75 Trillion (24h change: -2.08%)

This indicates high market confidence in BTC, while altcoins are underperforming due to lower market recognition.

5. Current miner breakeven price: $53,734.7

As of now, 56% of miners have a shutdown price above Bitcoin's current price, so there is no immediate risk of a cascading sell-off. However, if the price continues to decline, the likelihood of such a risk increases.

6. Bitcoin MVRV-Z score: 1.93

MVRV is the ratio of the minimum market value (current market cap) to the realized value (the total value of all BTC at their last movement). The current score is at a relative low over the past four months, indicating that the market is in a normal fluctuation period with an upward trend. It has not reached extreme levels, showing that the market remains confident in BTC. It is recommended to pay attention to the market's fundamental conditions.

Market overview

Market: 

BTC's trend is weak, with the highs on the 4-hour chart gradually decreasing and the lows continuously moving lower, indicating a lack of upward momentum. For BTC to show strength, it needs to quickly break through $88,000 and rise to $91,000-$92,000 to meet expectations. We will observe if today's PCE data can drive BTC to break through. The support for BTC is at $84,000.

Macro: 

At 8:30 PM (UTC+8) on March 28, the US PCE index will be released. The PCE data is one of the core indicators the Federal Reserve uses to measure inflation. Core PCE (which excludes the volatility of food and energy prices) is considered more stable and reflects the underlying inflation trend. If inflation is significantly above the 2% target and shows a continuous upward trend, it indicates increasing inflation pressure. The Federal Reserve may delay interest rate cuts or even consider raising rates. When the PCE data approaches or falls below 2%, particularly with an economic slowdown, interest rate cuts may stimulate economic growth. The current forecast is 2.7%.

Key events

• According to FOX Business, the US SEC has concluded its investigation into Crypto.com and will not take any enforcement action against the trading platform.
• Commission-free brokerage firm Robinhood has announced three new products: Robinhood Strategies (investment strategies), Robinhood Cortex (an AI assistant), and Robinhood Private Banking (private banking services).
• The BTCFi network’s Corn token has launched an airdrop query and announced its tokenomics model.
• Financial services company Intercontinental Exchange is planning to explore using stablecoin issuer Circle's USDC and USYC to develop new products.
• Sonic Labs, an EVM-compatible layer 1 blockchain platform, has announced that its total value locked (TVL) has surpassed $1 billion.
• On-chain storage protocol Walrus has launched its mainnet and is opening the airdrop to Walrus Airdrop NFT holders.
• Decentralized perpetual contract trading platform KiloEx has released its KILO tokenomics model, with 10% allocated for airdrops.
• Blockchain payments company Ripple has partnered with Chipper Cash, a payments provider, to promote cryptocurrency payment services in Africa.
• Stablecoin issuer Avalon Labs has announced its support for the BUIDL fund launched by BlackRock.
• Crypto intelligence platform Kaito AI has announced the launch of seven new Pre-TGE projects, including Mira, Theoriq, Axiom, Hana, Mercle, Turtle Club, and SatLayer, on Yapper Launchpad, with voting set to begin in two days.

Hot projects

Token		Description	Market Cap（$)
	TUT Launched on Binance	On March 28, Binance announced the results of the first round of token voting, with TUT included as one of the initial projects. It saw a rapid surge in price. The origin of $TUT can be traced back to about 10 months ago (around May 2024), when a developer created a tutorial video on how to create a token on the BNB Chain and deployed it on the testnet. Later, due to community interest and support, this test token was migrated to the mainnet and evolved into an official token project, blending education and meme characteristics. It was listed on Binance spot and futures, demonstrating Binance’s strong support for BSC.	37.77 million
	WAL Sui Ecosystem storage	Walrus is a decentralized storage and data availability protocol focused on storing large files (referred to as “Blobs”), such as media, AI datasets, and blockchain history. It recently launched on Upbit.	600 million
	YZY Kanye West concept	Yeezy is a brand founded by the famous American rapper, music producer, and fashion designer Kanye West (now known as Ye). There had been rumors that Kanye was preparing to launch a token. The token launch, originally planned for February 20, was delayed, but in mid-March, he shared a comment with the $YZY tag, causing the token to surge in price. Market attention toward YZY has been growing ever since.	7.4 million

Exchange updates

• WOO X has launched a new "Swap Spotlight" section, allowing trading of early-stage tokens with no slippage.
• Coinbase Chief Legal Officer Paul Grewal has stated on the X that South Carolina has withdrawn its lawsuit against Coinbase’s staking services.
• According to Hyperliquid's announcement, due to an abnormal trading event in the JELLY market, it will compensate JELLY long users and strengthen the platform's risk management.
• Coinbase Advanced will launch BNB perpetual contracts.
• Binance has launched WAL/USDT perpetual contracts with up to 25x leverage, added PAXG/USDT perpetual contracts with up to 75x leverage, introduced Apple Pay and Google Pay wallet options for euro deposits, and will list GUNZ (GUN) on Binance Launchpool on March 31.
• Bitget has launched KILO/USDT perpetual contracts with up to 75x leverage, partnered with KiloEx to launch a 150,000 KILO airdrop campaign, listed Ghiblification (GHIBLI) in both the Innovation and Meme sections, and opened investment for Immortal Token (IMT) on Bitget PoolX.
• Bybit has launched WAL/USDT perpetual contracts with up to 75x leverage. 
• HTX has listed Ghiblification (GHIBLI).
• HashKey Group has formed a strategic partnership with Hong Kong Virtual Asset Rating Company (HKVAC) to launch three core services: "Virtual Asset Rating", "Exchange Rating" and "Virtual Asset Index". 
• Service-driven cryptocurrency exchange JuCoin has launched the compliance process for the Taiwan market and applied for a regulatory license.
• OKX has listed FLUID (Fluid).

Industry landscape

• According to Bitcoin Laws, the US South Carolina Bitcoin Reserve Bill will allow the state treasurer to invest 10% of state funds in Bitcoin. 
• Artificial intelligence cloud service company CoreWeave has completed its initial public offering (IPO), raising $1.5 billion.
• YZi Labs (formerly Binance Labs) will host a hackathon focused on AI and blockchain-driven fintech solutions.
• Finance app Abound has completed a $14 million seed round, led by Circle Ventures and the NEAR Foundation.
• On-chain order flow developer Warlock Labs has completed an $8 million funding round, led by Polychain Capital.
• AI agent project Capx AI has completed a $3.14 million seed round, participated in by Manifold.

Emerging projects

Token	TTG	LENS	Digi
Description	The game token on Solana aims to not only focus on the game itself but also build an IP. The team behind it has experience from major Web 2 companies, and they have currently launched a TG mini-game.	Lens is a specialized browser that allows you to view multiple websites in an organized layout simultaneously. You can save your customized workspace to the cloud and access it anywhere. Enhanced security and privacy features protect your browsing experience.	The memecoin on Solana aims to provide a global cryptocurrency solution comparable to Bitcoin, designed to meet the huge supply-demand worldwide and enhance digital transactions.
Price	$0.004530	$0.001391	$0.0(6)1134
Market Cap（$）	4.53 million	1.39 million	2.2 million
Token Holders	7,839	1,722	31,777

Token	HENLO	ROGERS	Ghibli
Description	The memecoin on Berachain, launched by the chain's largest incubator and community, The Honey Jar, today announced the opening of airdrop claims. It was previously announced that they completed a $3 million seed round, participated in by Framework Ventures, SNZ Capital, Rubik VC, Baboon VC, Paramount Capital, Primitive Ventures, and Asylum Ventures.	The memecoin on Solana is based on the concept of Fred McFeely Rogers, the American television host who passed away in 2003.	The memecoin on BNB Chain is inspired by the recent image generation feature update of ChatGPT 4.0, with CZ also tweeting about it.
Price	$0.0005601	$0.001920	$0.005670
Market Cap（$）	19.4 million	1.92 million	5.67 million
Token Holders	10,979	1,354	34,527

Other opportunities

On-chain DeFi mining yield products:

Project Name	USDC（Blockchain：Aptos） ←→ Token： USDC/sUSDe
Participation Method	From the Thala official website, connect an Aptos-compatible wallet, go to the pools page, and deposit USDC/sUSDe into the corresponding liquidity pool to provide liquidity.
Project Information	Thala: A stablecoin protocol built on Aptos that creates yield-generating stablecoins and liquidity supply layers. It offers liquidity staking derivatives, liquidity pool tokens, and deposit receipt tokens.
Earnings Details	Staked currency: USDC/sUSDe Exit period: Instant Exit fee: 0.05% APR: 19.11% (ongoing change, with the yield consisting of Swap fee 0.03% + 15.59% thAPT + Ethena staking annual interest rate of 3.16%) thAPT: As a deposit receipt for thala, thAPT is minted and redeemed 1:1 for APT. When redeeming thAPT for APT, a 0.15% fee will be charged. This fee is redirected to the sthAPT reward pool (sthAPT is the staking yield token for thAPT). *There is a 0.05% fee when removing liquidity.
Product Data	Token: USDC/sUSDe Total market supply of token: 21.23M

Risk: Investors should proceed with caution and conduct their research.

thAPT is the proof of storing APT on Thala.

Disclaimer

The development and market cap of stablecoins mentioned in the above content are speculative and based on market analysis at the time of writing and should not be interpreted as guaranteed outcomes. Market conditions can fluctuate widely and unpredictably due to numerous factors such as regulatory changes, market demand, and global economic developments. 

The information provided in this article is for general informational purposes only and does not constitute financial, investment, legal, or professional advice of any kind. While we have made every effort to ensure that the information contained herein is accurate and up-to-date, we make no guarantees as to its completeness or accuracy. The content is based on information available during writing and may be subject to change.

Please note that this article includes references to third-party websites and data provided solely for convenience and informational purposes. We do not endorse or assume any responsibility for the content, accuracy, or reliability of any information, products, or services offered by third parties.

Cryptocurrencies involve significant risk and are NOT suitable for the majority of investors. The value of digital currencies can be extremely volatile, and you should carefully consider your investment objectives, level of experience, and risk appetite before participating in any staking or investment activities.

We strongly recommend that you seek independent advice from a qualified professional before making any investment or financial decisions related to cryptocurrencies. We shall in NO case be liable for any loss or damage arising directly or indirectly from the use of or reliance on the information contained in this article.