Crypto Assets Market Weekly Report: Bitcoin Shows Resilience Amid Global Economic Turmoil

This week, the price of Bitcoin showed an upward trend, rising from $78,370 at the beginning of the week to $84,733 by the weekend, an increase of 6.84%. The weekly volatility was 14.89%, with a significant increase in trading volume. It is worth noting that the price of Bitcoin has effectively broken through the upper edge of the descending channel for the first time since late January, approaching the 200-day moving average.

The global economic situation remains a major factor influencing the crypto assets market. A new round of trade friction has triggered severe fluctuations in the global financial markets, leading to a rare "triple kill" phenomenon in the US stock, bond, and foreign exchange markets. In the face of a potential financial crisis, the US government has chosen to make some concessions, postponing or reducing the intensity of the implementation of certain tariff measures, and releasing signals of easing on the public opinion front.

This change has led to a rebound in the global risk asset market. However, the impact of trade frictions will continue to dominate various markets. Market participants will closely monitor key factors such as the direction of subsequent trade policies, the Federal Reserve's interest rate decisions, and whether the U.S. economy will fall into recession.

In terms of policy and macroeconomics, multiple countries have taken varying degrees of countermeasures against the United States' trade policies. After several rounds of negotiations, the tariff levels between China and the United States have reached a point that could severely impact normal trade relations. Subsequently, the United States announced a suspension of additional tariffs on most countries and began negotiations. This move resulted in a significant rebound in the US stock market, with the Nasdaq index recording the second-largest single-day increase in history.

However, the U.S. financial markets are still under significant pressure. Earlier this week, the three major U.S. stock indexes hit adjustment lows, and the VIX index briefly reached a high of 52.33, marking the third peak in recent years. At the same time, there were unusual changes in the U.S. Treasury yield curve, with short-term Treasury yields dropping significantly while long-term Treasury yields rebounded. The U.S. dollar index also fell sharply due to capital outflows.

This situation of "triple kill in stocks, bonds, and foreign exchange" has forced the U.S. government to release soothing signals and announce a list of tariff exemptions for certain goods. At the same time, the Federal Reserve has also sent out "dovish" signals, indicating its readiness to take necessary measures to stabilize the financial markets.

In the Crypto Assets market, on-chain selling pressure has weakened this week, slightly alleviating the fear-driven sell-off that had persisted for three consecutive weeks. The total on-chain selling volume for the week was 188,816 Bitcoins, with short-term holders accounting for the majority. Long-term holders continue to play a stabilizing role, increasing their holdings by nearly 60,000 Bitcoins this week, indicating that market liquidity remains relatively scarce. By the weekend, short-term holders were still at an overall floating loss level of 10%, indicating that the market is still under significant pressure.

According to the cyclical indicators from a certain data analysis platform, Bitcoin is currently in a rising continuation phase. Despite the turbulent global economic environment, Bitcoin still demonstrates a certain level of resilience. However, considering the current complex macroeconomic situation, market participants need to remain cautious and closely monitor the direction of global economic policies and their potential impact on the Crypto Assets market.