BTC Breaks Through 69,000 USDT

Bitwise CIO: The altcoin season is over, and the future will enter a "non-traditional" cycle

Bitwise Chief Investment Officer Matt Hougan believes that the future of altcoin seasons will no longer be common, and only assets with real applications and growth momentum will profit. He pointed out that the market will become more differentiated, with investor attention focusing on Bitcoin, and mentions of altcoins dropping to a two-year low.

Data: The number of non-zero Bitcoin wallets reaches a new high, and the exchange BTC supply drops to the lowest level since 2017.

PANews March 6 News, according to Cointelegraph, Santiment data shows that the number of non-zero Bitcoin wallets has reached a record high, while the Bitcoin supply on exchanges has dropped to the lowest level since December 2017. This trend indicates that Bitcoin adoption is increasing, with more investors choosing to store assets in offline wallets.

The whale "pension-usdt.eth" short position of 1000 BTC narrows its unrealized loss to $2.2 million

ChainCatcher Message: According to HyperInsight monitoring, the large whale "pension-usdt.eth" is currently shorting 1,000 BTC with 3x leverage, with an average entry price of $68,182.7, and a current unrealized loss of $2.2 million.

Analyst says Bitcoin is still in a deep bear market zone, with BTC quickly retreating after rebounding to $74,000.

Bitcoin recently experienced a brief rebound to $74,000, but analysts believe this is only a temporary correction within the bear market. Market indicators still show that it remains in a deep bear market, and although some on-chain data suggest capital is flowing back, market momentum is unstable and may remain volatile in the short term.