Fire News Financial News, on March 27, QCPCapital issued an analysis pointing out that in the cryptocurrency market, despite the eye-catching catalysts, market sentiment is still sluggish. GME unexpectedly raised $1.3 billion for Bitcoin allocation, but it has yet to boost overall market sentiment. The only silver lining is a steady inflow of BTCETFs, totaling $944.9 million since expiring on March 14, 2025. In comparison, ETHETF saw outflows of $112.1 million over the same period. This presents a clear divergence, reflecting the divergent institutional beliefs of the market. On-chain developments offer some hope for ETH. With Pectra now successfully deployed on the Hoodi testnet, a mainnet upgrade is expected in Q2. Looking ahead to tomorrow's expiration date, $12.2 billion worth of BTC options will expire with a maximum price of $85,000. BTC has started to move lower from Monday's highs, with both BTC and ETH front-end volumes down 10 volumes. Spot trading was sideways, with OI continuing to move lower, indicating a general lack of short-term optimism in the market. With PCE index data due tomorrow, any upside in the near term will remain limited as markets await clarity on Trump's next move in this escalating trade war.
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Fire News Financial News, on March 27, QCPCapital issued an analysis pointing out that in the cryptocurrency market, despite the eye-catching catalysts, market sentiment is still sluggish. GME unexpectedly raised $1.3 billion for Bitcoin allocation, but it has yet to boost overall market sentiment. The only silver lining is a steady inflow of BTCETFs, totaling $944.9 million since expiring on March 14, 2025. In comparison, ETHETF saw outflows of $112.1 million over the same period. This presents a clear divergence, reflecting the divergent institutional beliefs of the market. On-chain developments offer some hope for ETH. With Pectra now successfully deployed on the Hoodi testnet, a mainnet upgrade is expected in Q2. Looking ahead to tomorrow's expiration date, $12.2 billion worth of BTC options will expire with a maximum price of $85,000. BTC has started to move lower from Monday's highs, with both BTC and ETH front-end volumes down 10 volumes. Spot trading was sideways, with OI continuing to move lower, indicating a general lack of short-term optimism in the market. With PCE index data due tomorrow, any upside in the near term will remain limited as markets await clarity on Trump's next move in this escalating trade war.