Global Markets

El Salvador continues to implement its Bitcoin reserve strategy, currently holding about 7,606 Bitcoins, with a total value exceeding $500 million. The country adopts a strategy of purchasing in batches to mitigate the risks of price volatility, and despite warnings from international institutions, it actively engages in long-term investments. El Salvador's approach provides a new model for other countries, and the future price of Bitcoin will influence the success or failure of the experiment.

Goldman Sachs analysts believe that after approximately a 46% pullback, crypto-related stocks are showing structural opportunities, and they have given “buy” ratings to Robinhood, Figure Technologies, and COIN. Despite valuations being near historical lows, trading volume has not recovered in the near term, which could affect revenue and profit. Market sentiment is cautious, and the outlook will depend on liquidity and Bitcoin performance.

Due to escalating geopolitical conflicts and macroeconomic uncertainties, approximately $296 million net flowed out of the U.S. spot Bitcoin ETF last week, reflecting a decline in market risk appetite. Although the Bitcoin price rebounded to $67,500, market sentiment remains cautious, with investors anticipating a higher likelihood of Bitcoin dropping to $55,000.

Recently, the US Bitcoin spot ETF experienced significant outflows after seven consecutive trading days of net inflows, with a net outflow of $163.5 million on the 18th and another outflow of $51.9 million on the 19th, indicating a simultaneous weakening of market capital and prices. The price of Bitcoin briefly fell below $70,000, highlighting that the capital flows of the ETF can no longer support its rebound, and the deteriorating macro environment is putting pressure on risk assets, leading to a noticeable contraction in investor preferences. The testing of the $70,000 threshold has become a barometer for short-term market sentiment.

The worsening situation in the Middle East has led to significant volatility in Bitcoin prices. On Monday, Bitcoin briefly fell to $65,112 but quickly rebounded to $67,400, indicating active buying at support levels. The market's sensitive response to the escalation of war and increasing macroeconomic pressures has resulted in a divergence in the performance of mainstream assets. The future trend of Bitcoin will be influenced by geopolitical conflicts and macro variables, and it may continue to maintain high volatility.

The U.S.-Iran conflict escalates again; Iran prepares for possible incursions. The U.S. is considering taking over Halk Island, and oil prices surge rapidly. Israeli airstrikes on Iran trigger a retaliatory response, with the Houthis making their first move. Market reaction is intense: Taiwan stocks plunge, inflation expectations change the path of monetary policy, and the global economy faces recession risk.

JPMorgan pointed out that in the Middle East conflict, Bitcoin has shown strong resilience against declines, with significant capital inflows and active trading, while gold and silver are facing capital outflows. Under high interest rates and strong dollar pressure, gold prices have dropped by about 15%. With its borderless characteristics, Bitcoin has become a safe-haven choice, and institutional investors are also adjusting their positions, indicating a decrease in gold liquidity while Bitcoin liquidity is increasing.

BNP Paribas will launch six exchange-traded notes (ETNs) linked to Bitcoin and Ethereum for retail customers in France on March 30, marking the latest step of traditional financial institutions entering the regulated crypto space. These ETN products comply with MiFID II regulations, allowing investors to participate without holding cryptocurrencies, thereby increasing market accessibility and compliance. The bank is also advancing its blockchain infrastructure development and digital asset strategy.

Ethereum has currently broken below a key support level, presenting a bearish flag pattern, indicating a potential continuation of the downward trend. Trading volume is sluggish, market participation is insufficient, and there is a continued net outflow from ETFs. The minting of USDC has slowed, liquidity recovery is unstable, and time is needed to repair demand.

BlackRock is recruiting a Managing Director for Digital Assets, with an annual salary of up to $350,000, focusing on cryptocurrency, stablecoins, and tokenization strategies. Recent ETF fund outflows show a divergence in performance between IBIT and ETHA, with market confidence in Bitcoin stronger than in Ethereum. Additionally, Morgan Stanley plans to launch a low-fee Bitcoin ETF, which may pose competitive pressure on BlackRock.

Former U.S. President Trump stated in an exclusive interview that the war goal against Iran is to seize oil and is considering deploying troops to occupy Hark Island. U.S. stocks plummeted due to the deteriorating situation in the Middle East, with Taiwan's stock market opening below 33,000 points, and TSMC also falling below 1,800 NT dollars. The rise in oil prices has sparked inflation concerns, affecting market confidence. The cryptocurrency market reacted mildly, with short-term trends unclear.

Grayscale signals digital asset treasuries are stabilizing after a crypto equity reset, as firms deploy structural reforms, yield strategies, and diversification to rebuild confidence and strengthen long-term positioning across institutional crypto markets. Crypto Treasury Firms Regain

Speaker MB Ghalibaf of the Iranian Parliament warned investors of market manipulation tied to the US-Iran war, advising them to trade against misleading narratives. His comments sparked mixed reactions online, highlighting the broader impact of geopolitical tensions on markets.

Ethereum (ETH) is currently facing structural challenges from the Tether stablecoin USDT, which has seen its market cap grow by 622.50% over five years, greatly surpassing ETH's 11.75%. The stablecoin market size has increased from $5 billion to $310 billion, indicating a rise in safe-haven demand. ETH is also affected by geopolitical and monetary policy factors, with institutional funds withdrawing, leading to a stagnant market cap growth. Technical analysis suggests that ETH could drop to $1,250, further widening the market cap gap with USDT.

Robert Kiyosaki points out that national debt and currency issuance will exacerbate inflation, while geopolitical conflicts may drive up oil prices. He emphasizes that personal financial awareness and asset allocation are crucial in the current economic environment, holding a positive view on gold, silver, oil, and cryptocurrency.

The conflict between the U.S. and Iran is escalating, with the U.S. intending to seize Iranian oil. The blockade of the Strait of Hormuz has caused oil prices to surge to $115, impacting the global economy. Taiwan's stock market plummeted by over 600 points, and inflation concerns are reshaping market monetary policy expectations, with experts warning of an increased risk of economic recession. The energy market is volatile, and the performance of safe-haven assets is mixed, with gold experiencing a sharp decline, while Bitcoin remains relatively stable, though it still lags behind other assets in the long term.

El Salvador's Bitcoin reserves have increased to 7,605.37 coins, worth approximately $506 million. Analysts point out that losses for short-term Bitcoin holders are widening, with the MVRV indicator in bear market territory. Brother Ma's losses have reached $31.3 million. Walmart's payment platform OnePay has added support for various cryptocurrencies. Gnosis and Zisk have launched an Ethereum economic zone Rollup framework.

Iranian Parliament Speaker Ghalibaf questioned Trump's trading strategy TACO and suggested taking a reverse approach. The article analyzes the reasons for TACO's failure in the Iranian crisis, including the different nature of the opponents, the absence of the Supreme Leader, and the rising geopolitical risks, which have led to a decline in market confidence. Additionally, Ghalibaf also threatened that institutions purchasing U.S. Treasury bonds are "legitimate military targets," posing a new threat to the bond market.

On March 30, the prices of gold and silver fell to $4,448.19/ounce and $68.664/ounce, respectively. The volatility index for Bitcoin and Ethereum saw a slight increase. The US dollar remained steady against the Chinese yuan and fell against the Japanese yen. Global stock indices generally declined, while international crude oil prices rose.

Bitcoin prices remain weak, around $66,380 on March 30. The U.S. Kalshi prediction market is facing lawsuits, and Canada plans to ban cryptocurrency political donations entirely to reduce election risks. U.S. stocks have plummeted, with significant declines in tech stocks. Concerns over war and inflation have led to investor pessimism, and future attention must be paid to U.S. stock trends.