#BTC (4-hour timeframe)**: Bitcoin reached a new all-time high, climbing to $69,129 on the Coinbase exchange, followed by a sell-off. A cascade of liquidations of long positions briefly drove the price down to $59,000, where buyers quickly regained control. At the time of this review, the price has rebounded above the Point of Control (POC) at $66,900 from the upward momentum starting March 3rd.
Maintaining the asset above this level confirms the strength of the buyers, potentially leading to another attempt to break through the resistance trend line. A retracement to the Exponential Moving Average EMA 50 ($64,000) is possible, from which I expect the uptrend to resume. If bulls can breach the resistance trend line, Bitcoin could update its historical high without any local retracement.
#ETH**: After a correction, the asset returned to the resistance level at the local maximum around $3,800. Securing above this mark could propel the instrument towards the next resistance level at $4,000.
▫️One of the world’s largest exchange organizations, Deutsche Börse Group, launched its new regulated platform for cryptocurrency trading.
The Deutsche Börse Digital Exchange (DBDX) aligns with the company’s global strategy to develop the digital asset market outlined in the new Horizon 2026 plan. Targeting institutional investors, trading on the platform is set to begin this week, initially operating on a Request for Quote (RfQ) basis. Deutsche Börse will manage the project, with Crypto Finance providing settlement and custody services.
The launch of Deutsche Börse’s regulated platform underscores the growing influence of the cryptocurrency market and its significance in the global economy. The focus on institutional investors reflects confidence in the prospects of digital assets among this investor category, potentially facilitating the acceptance of cryptocurrencies as an additional asset class and increasing investment in this area.
Altcoins: The listing of meme coin Myro (#MYRO) on Crypto.com led to a 68% price increase against #USDT.
News that market maker DWF Labs invested $10 million in the RWA-platform TokenFi (#TOKEN) caused a 35% rise in #TOKEN’s value against #USDT.
Following an increase in rewards for liquidity providers in the DeFi protocol Aerodrome Finance (#AERO), the value of #AERO rose by 26% against #USDT.
Wall Street’s major indexes ended Tuesday’s trading session lower amidst negative dynamics in the technology, consumer goods, and industrial sectors. By the close on the New York Stock Exchange, the Dow Jones fell by 1.04%, the S&P 500 depreciated by 1.02%, and the NASDAQ Composite dropped by 1.65%.
▫️Despite a midday drop of 12%, the total market capitalization of digital assets returned to yesterday’s level. The dominant cryptocurrency’s market share decreased by 0.1% over the past day. Yesterday’s dip resulted in the liquidation of long positions in Bitcoin and altcoins worth $798 million, relieving the market of high-leverage positions. Therefore, in the near term, I anticipate a new attempt by the leading cryptocurrency to update its historical maximum.