10X Research's latest research report: Key factors that crypto traders must consider and after-market views

The crypto market has been weak since mid-March, partly due to the end of the yen carry trade and the continued high US interest rates.

 

In the past 24 hours, the market trading volume reached $244 billion, the highest value since March 6th. In mid-March, Bitcoin ETF purchases slowed down due to concerns about interest rate hikes caused by high CPI data, and the market was mainly dominated by arbitrage funds. Hedge funds may have sold their positioning to retail investors. After the halving, the stablecoin and fiat-to- cryptocurrency channel stopped, and market interest decreased. The recent sell-off led to more liquidation and reduced market leverage.

 

Last night, the ISM Services Index showed improvement, but the price increase indicates that the Federal Reserve is facing a dilemma: supporting the job market or continuing to fight inflation. Institutional investors carefully evaluate risks and returns, while retail investors tend to chase every opportunity. Although "buying on dips" is sometimes effective, the current risks are still too high.

 

For more information, see the latest research report from 10x Research: https://www.bitget.com/zh-CN/news/detail/12560604138471