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Bitcoin stabilizes above $70,000, IEA may release the largest-ever crude oil reserves, global risk asset sentiment improves

Bitcoin recently broke through $70,000 again, influenced by changes in the energy market. Its price once reached $71,612 before falling back to $70,036. The market sentiment is related to discussions with the International Energy Agency about releasing strategic oil reserves, and the decline in Brent crude oil prices is seen as a signal to reduce inflation pressure. The market is focused on the Federal Reserve policy meeting, with expectations that if oil prices remain below $90, it will create room for interest rate cuts.

Bitcoin derivatives market turns bullish, traders bet on BTC surging past $80,000

Bitcoin market sentiment is improving, with more traders expecting the price to break above $80,000 in the coming months. The options market signals a bullish bias. Currently, Bitcoin is trading near $70,000, and analysts believe that if the bullish sentiment continues, a new directional move may emerge in the future.

XRP Ledger daily trading volume soars to 2.7 million transactions, RWA enthusiasm heats up, but XRP price remains trapped in the $1.34—$1.44 range

XRP price has recently been volatile, staying between $1.34 and $1.44. However, XRP Ledger transaction activity has increased, with a daily trading volume of 2.7 million transactions, mainly driven by real-world asset tokenization projects. Analysts point out that the market is in a consolidation phase, with a focus on the stability of the $1.34-$1.35 support level. If this support holds, a breakout above $1.44 could be possible.

Ethereum network activity reaches a new all-time high, but ETH price has fallen 30% over 6 months, ranking third in fee revenue.

Ethereum network activity reaches a new all-time high, with multiple indicators showing a significant increase in daily active addresses and smart contract calls. However, ETH price has fallen about 30% over the past six months, indicating a net capital outflow. Analysis suggests that capital flows have a greater impact on price. Despite Ethereum hosting a large amount of stablecoins, its value capture has not kept pace with the growth in network usage.

Ethereum active addresses surpass 2 million, reaching a new all-time high, but ETH price remains under pressure; capital flow becomes a key variable.

Ethereum network activity reaches a record high, but ETH prices have not risen accordingly, and on-chain transaction fee revenue has not significantly increased. Transaction data shows that the correlation between on-chain activity and price has weakened, with new demand not translating into higher ETH valuation, leading to net capital outflows from the market. Stablecoins still dominate the Ethereum ecosystem, but overall economic activity is dispersed across layer 2 networks, indicating a separation between network usage and asset value capture.

BTC and ETH short-term holder SOPR has rebounded since late February, indicating increased market resilience.

Gate News Report, March 11 — A research institution released a report indicating that short-term holders of BTC and ETH have been experiencing a rebound in the spent output profit ratio (SOPR) since late February. SOPR is used to measure whether recent sellers are in profit when selling assets. The rebound of this indicator suggests that spot demand has been strong enough recently to absorb reverse selling pressure, making market positioning more resilient.