Gate Daily Report (March 23): MicroStrategy Releases Bitcoin Buy Signal; MajiDaBro's ETH Liquidation Incurs Losses of 30.35 Million

Bitcoin (BTC) continues its weekend decline, currently around $67,950 as of March 23. MicroStrategy has again released Bitcoin Tracker-related news, hinting at sticking to a dollar-cost averaging strategy. “Brother Maji” Huang Licheng has fully liquidated again and opened a new ETH long position, with losses exceeding $30.35 million.

Macro Events & Crypto Hotspots

1. MicroStrategy founder Michael Saylor has again posted about Bitcoin Tracker, writing: “The Orange March Continues.” According to previous patterns, Strategy typically discloses increased Bitcoin holdings the day after related news, indicating MicroStrategy remains committed to its buy-the-dip strategy.

2. According to Onchain Lens monitoring, “Brother Maji” Huang Licheng was fully liquidated on his ETH (25x leverage) long position again, and shortly after opened a new ETH (25x leverage) long position. His wallet now holds only $32,000, with current losses over $30.35 million.

3. Fidelity sent a letter to the U.S. Securities and Exchange Commission (SEC) on March 22, urging the agency to continue improving the regulatory framework for broker-dealers offering, custodying, and trading crypto assets on Alternative Trading Systems (ATS). The third-largest US asset manager emphasized the importance of establishing comprehensive rules for tokenized securities trading, including third-party issuance.

Fidelity pointed out in the letter that tokenized instruments vary in issuance structure, legal attributes, and valuation models, such as tokenized real-world assets including stocks, real estate, and bonds. The firm also called for bridging the regulatory gap between centralized and decentralized trading systems, considering how they can coexist and develop, including reforming existing reporting rules to reflect the reality that DeFi trading platforms lack central authorities and cannot provide detailed financial reports as required by the SEC. Additionally, Fidelity suggested the SEC issue guidelines allowing broker-dealers to use distributed ledger technology for ATS and record-keeping.

News Highlights

1. SkyBridge founder: Bitcoin’s four-year cycle still ongoing, price expected to rise in Q4

2. SkyBridge opens 20x leveraged gold long position and gradually closes its S&P 500 short

3. Fidelity urges SEC to improve crypto activity regulation on ATS

4. Huang Licheng fully liquidated again and opened a new ETH long, with losses over $30.35 million

5. Zuckerberg develops CEO proxy, with internal reports of “AI proxy social”

6. NYSE completes rule change to remove crypto ETF options trading limits

7. Michael Saylor releases Bitcoin Tracker info, with potential disclosure of increased holdings this week

8. Boya Interactive plans to spend up to $70 million on crypto purchases

9. Data: Tokens like H, XPL, JUP to undergo large unlocks this week, with H’s unlock valued at about $10.2 million

Market Trends

1. Latest Bitcoin news: BTC continues weekend decline, currently around $67,950, with $99 million in liquidation over the past 24 hours, mainly long positions.

2. The three major US stock indices fell across the board on March 20, ending four consecutive weeks in the red. Dow Jones dropped nearly 450 points; Nasdaq fell 2%, nearly 10% below recent highs; S&P 500 is down nearly 7% from its all-time high.

(Source: Gate)

3. According to Gate’s BTC/USDT liquidation map, with current price at $67,738.60 USDT, a drop to around $67,421 will trigger over $47.66 million in long liquidations; a rise to about $69,456 will trigger over $360 million in short liquidations. Short positions’ liquidation amount is significantly higher than longs, so traders should control leverage wisely to avoid large-scale liquidations during market swings.

(Source: Coinglass)

4. In the past 24 hours, spot inflow was $1.62 billion, outflow $1.64 billion, net outflow $0.2 billion.

(Source: Coinglass)

5. In the past 24 hours, net outflows in contracts for $SIREN, $RIVER, $BCH, $BR, $BANANAS31, indicating trading opportunities.

Selected Expert Opinions

Phyrex Ni (@Phyrex_Ni): “My biggest worry every weekend is Trump causing trouble. It’s Sunday, and I think nothing will happen, but then he surprises us. A few days ago, he vowed to keep the Strait of Hormuz open, and today he said if Iran doesn’t open it within 48 hours, the US will completely destroy Iran’s power plants.”

“Tonight, Iran responded, saying they will fully block the Strait of Hormuz and retaliate, targeting Middle Eastern energy infrastructure. Iran is clear: if they can’t hit the US directly, they will target US allies. Officials say Iran will shift from defense to offense, with enough supplies to last at least a year.”

“Now it depends on whether Trump will TACO, but regardless of his choice, his war with Iran has sparked strong domestic and international controversy, and the situation has reached an awkward point. Continuing the conflict could escalate from military strikes to energy and supply chain wars, impacting the Strait of Hormuz, oil prices, shipping, and global inflation. Stopping would be an admission that US hardline policies are just pressure, which could hurt deterrence.”

“For Trump, it’s no longer about whether to fight but about bearing the costs regardless. The market is the same—until this conflict escalates, trading is driven not just by short-term sentiment but by risks of high oil prices, re-inflation, and tightening liquidity.”

“Looking at Bitcoin data, Trump’s antics today already affected BTC, which held around $70,000 for a while but couldn’t sustain it, dropping to about $68,000. We’ll see how Asian investors react after CME opens in the morning and US markets open at night. Likely, another gap will form at dawn.”

“Bitcoin hit $64,000 today, but I don’t think it will hold.”

Today’s Outlook

1. US January construction spending (monthly rate), previous 0.3%

2. US December construction spending (monthly rate), previous 0.3%