Crypto.news caught the current crypto market climate, a potential trajectory of bitcoin, ongoing macro tension, and beating altcoin landscape along with coinw’s chief strategy officer Nasar Achkar.
Bitcoin (BTC) again broke down from $ 81,000 on March 10, falling 5% in the last 24 hours to fall between a broad market, while the total crypto market capitalization slipped to $ 2.7 trillion as digital asset investors liquid the virtual currencies to protect capital.
Nasar Achkar, representing the Dubai -based Crypto Exchange Coinav, discussed several topics with Crypto.News in an interview, including how $ 100,000 remains a psychological barrier for bitcoins and there is no possibility of needle below $ 70,000. Below is a transcript of interview.
Based on the Q – Exchange Activity (Volume, Inflow, withdrawal), are Crypto investors buying this dip?
A , The current Crypto Bazaar is showing a new criteria – Investor is buying BTC instead of Altcoin. The innings has clearly separated between bitcoin and broad ultachoine markets.
First, after the Baibit incident, Benance saw an influx of approximately $ 4 billion in a single week, which surpassed other major exchanges. Instead of a classic by-dype scenario, it appears to be powered by a boom risk-to-sense, with large amounts of capital consolidation within the same exchange for safety.
Meanwhile, Etreum (Eth) has been on a bottom trend, and SOL faces a significant token unlock, inspired investors to wait for low entry points. Even BTC sees minor recovery, the spirit of the overall market is cautious, investors opted to hold property instead of investing aggressively,
Trump’s recent pro-crypto trend has further strengthened the dominance of bitcoin, which depicts more attention and liquidity towards BTC rather than altcoin, while traders wait for clear signs before doing significant moves. In fact, in the last three months, there has been a steady decline in the overall CEX trading volume, which shows the feeling of uncertainty and fear in the market.,
Q – Bitcoin is 23% below its ath. Fundstrate’s Tom Lee said that we could fall from another 24% to $ 62,000, perhaps this week or March. Does Coinw’s BTC order book paint a similar picture? What are strong dialects and buy orders around those levels?
A , Propheming price movements is always a risky attempt, but the order book of Coinw shows that the actual tipping point between buyers and sellers focuses around $ 100,000 instead of a drop below $ 70,000.
While the BTC was temporarily immersed in the $ 70K range, it has since rebounded above $ 90,000, confirming the belief that $ 100,000 is both a psychological milestone and a strong support level in this cycle. Depending on the current market performance, we do not guess BTC below $ 70K in the near period.
Q – Is there any indicator for a potential market? Have traders placed bets for further price action or tokening at these levels?
A , The coinw is closely looking at Trump’s potential impact on the market. Historical trends indicate that BTC is priced highly correlated with US stock market movements and M1 money supply. Given that American equities have shed $ 3 trillion into value, it is not surprising to see BTC experienceing ups and downs.
Additionally, Binance has recently liquid its self-proclaimed assets, while Eth and SOL are facing continuous sale pressure. Even trump-conferred wealth like WFLI, which earlier invested in Altcoin portfolio, are currently in a loss.
At this stage, the market remains in the period of uncertainty, waiting on major macroeconomic factors such as interest rate adjustment, digital asset reserves and possible revival of atherium. Given these circumstances, it is appropriate to be cautious and move forward in the short term.
Q – Some are saying that we are in a cyclic bottom channel, others argue that macro factors have made the Crypto market prices depressed. Why is Crypto going down?
A , As mentioned earlier, BTC is separating from the wider crypto market, proving to be ineffective traditional four -year cycle theory. Instead, BTC’s price action is now more closely connected to the US dollar, equity markets and ETF flows.
If we still classify BTC as a crypto property, the weakness of the broad crypto market can be attributed to the macro policy uncertainty. However, when BTC is analyzed separately from Altcoins, there will be a different picture:
- ATH led by ATH lacks a strong story in the market or buy speed.
- ZK, Layer -2, and VC -supported tokens are no longer in favor of the market.
- Solana (Sol) and other alternative chains have been highly speculative, which are mainly powered by Meme coins.
- After the launch of Trump’s token, the liquidity dried completely, leaving Altcoins without a strong support base.
A combination of external macroeconomic pressures, BTC’s separation from Altcoin, high ETH costs, and liquidity of meme’s liquidity can be the real reason behind the current recession of the crypto market.
