Bitcoin price continues to stay below $72,000 USD, with weakening market demand, investors beginning to sell off positions, and limited upside potential in the short term. On-chain activity and mining hash rate have declined, miners' profitability has weakened, and market concerns about miner sell-offs are intensifying.

Cipher Digital (CIFR) stock rises about 9% in pre-market trading following the signing of a 15-year data center lease agreement with a major customer and securing a revolving credit facility of up to $200 million, which will facilitate the development of its high-performance computing facilities and strengthen its position as an AI infrastructure partner.

Gate News 消息，3 月 25 日，據彭博社報道，管理 10 萬億美元資產的摩根士丹利將成為首家發行並贊助比特幣 ETF 的美國主要銀行。

Strategy is poised to become the largest corporate Bitcoin holder, but faces concentration risk, quantum computing threats, and portfolio diversification issues that could impact its ability to accumulate more. Analysts point out these are key areas of concern, yet there are no signs these will trigger large-scale risks.

On March 25th, influenced by news of a potential US ceasefire, WTI crude oil prices fell more than 4%, currently trading at $89.1 per barrel. Meanwhile, three major whales deployed approximately $3.2 million in WTIOIL long positions as oil prices declined, with an average entry price between $87.9 and $88.6 per barrel. They expect oil prices will not break below $86.

Morgan Stanley's Head of Digital Asset Strategy Amy Oldenburg stated at the New York Summit that major banks' entry into the cryptocurrency space is the result of years of infrastructure modernization. The firm plans to support tokenized equity trading by 2026 and is renovating its core systems to enable faster settlement. She emphasized that synergy among financial institutions is critical for modernization.

欧洲央行Piero Cipollone表示，欧盟代币化市场需满足三项条件：开发数字欧元以稳定交易、与企业合作确保市场需求、协调法律法规以解决跨国障碍。落实后，预计将加速市场增长，推动金融创新与资本一体化。

March 24th, the crypto market rebounded due to escalating Middle East tensions, with Bitcoin rising 3.1% to $70,352, and other major cryptocurrencies also gaining. Saudi Arabia and the UAE prepared military operations, driving oil prices higher. Overall, the market is focused on geopolitical risks and changes in capital flows, with traditional markets under pressure.