On March 19, 2025, the currency circle

The Bitcoin price fluctuated between $81,100 and $83,748 on the day, influenced by expectations of the Federal Reserve's interest rate decision, leading to cautious market sentiment.

The new demand for Bitcoin continues to be weak, long-term holders are increasing their selling pressure, and institutional funds have net outflows through ETFs totaling $4.58 billion.

The total net inflow of Bitcoin spot ETFs yesterday was $209 million, with BlackRock's ETF IBIT leading with a net inflow of $218 million. The total net outflow of Ethereum spot ETFs yesterday was $52.8156 million, marking a continuous net outflow for 10 days.

U.S. Treasury Secretary Besant announced the cessation of Bitcoin sales and the establishment of a strategic reserve, which is a long-term positive news, but the market reacted calmly, with some investors choosing to take profits.

The Trump administration promotes the legalization of cryptocurrencies, but tariff policies raise market concerns about stagflation risks, leading to a sell-off of risk assets. Pakistan has established its first national-level crypto committee (PCC), planning to develop a regulatory framework.

The Federal Reserve will announce its interest rate decision tonight, and the probability of a rate cut in March is only 1%.

U.S. authorities have dropped charges against the founder of the decentralized social network BitClout.

Pennsylvania, USA approves the construction of the Nova Energy natural gas cryptocurrency mining site.

The North Carolina Bitcoin Reserve Act will authorize 10% of public funds for the purchase of Bitcoin.

The mainnet migration is complete with 6.883 billion tokens transferred, but the circulating supply is only 1.707 billion tokens. The official recovery mechanism creates scarcity. The first decentralized exchange, daoSwap, has completed KYB certification and will be launching soon.

FTX bankruptcy auction triggers selling pressure risk: The unlocking of 11.2 million SOL (approximately $1.48 billion) in March from the FTX bankruptcy auction increases short-term liquidity risks, which may put pressure on SOL prices and market sentiment.

The three major U.S. stock indexes collectively closed lower: the Dow Jones, Nasdaq, and S&P 500 fell by 0.62%, 1.71%, and 1.06% respectively. Large tech stocks generally declined, with Tesla dropping 5.34% due to controversies over its autonomous driving technology, and Nvidia falling 3.43% (despite announcing plans for a new generation of AI chips). The crypto world concept sector led the decline, and market sentiment leaned towards caution.

Gold prices reach an all-time high: COMEX gold futures exceed $3040 per ounce, with a surge in safe-haven demand. Investors show heightened interest in gold ETFs, and some funds may be diverted to crypto assets as alternative safe-haven tools.

Summary: The capital market is underperforming due to the drag from tech stocks, as institutional funds withdraw from U.S. stocks and shift to other assets. Gold has reached a new high as a safe-haven asset; the cryptocurrency market faces selling pressure risks from the FTX bankruptcy auction, but in the long term, it is still supported by institutional adoption and the trend of tokenization. The uncertainty of Federal Reserve policies and geopolitical risks remain the primary causes of market volatility, and investors need to pay attention to further signals from macroeconomic data and regulatory dynamics.

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