Trading Moment: $75,000 is the recent key support level for BTC, while Ethereum may repeat the trend of 2019.

Trading Moment: $75,000 is the recent key support level for BTC, Ethereum may repeat the 2019 trend

1. Market Observation

Keywords: SOL, ETH, BTC

Market volatility has become the norm, with Bitcoin falling below $80,000 again this morning. Crypto analyst Eugene stated that the overall trend still leans towards a downward direction. Although there is a possibility that BTC has formed a bottom at $76k or a double bottom in the $74-76k range, this probability is decreasing over time. He expects BTC may drop to the psychological level of $66k set by Michael Saylor and pointed out that the upward trend or range of BTC has been broken across all time frames, with $75k being the last key support level. For SOL, Eugene believes $80 is a good buying price, but if it falls below this level, the next support will drop directly to $25.

Meanwhile, Ethereum's performance appears even weaker, with the relative strength index (RSI) on the ETH/BTC two-week chart dropping to a historic low of 23.32. Although an RSI below 30 is typically seen as an oversold signal, the continued decline indicates an acceleration of the downward trend. Analyst Alessandro Ottaviani described this as a "knife falling" market, suggesting that buyers are struggling to find entry points. If ETH/BTC cannot rebound from the 0.022 level, it may continue to fall to the 0.020-0.016 BTC range, representing a further drop of about 30% from the current price. Currently, Ethereum faces strong competition from rivals like Solana, with VanEck data showing that Solana's decentralized exchange trading volume has surpassed that of Ethereum. Crypto analyst Benjamin Cowen believes that Ethereum will have to go through a "painful period" before rebounding, as its current trend is repeating the pattern of the 2019 market cycle, and a change in monetary policy is needed to reach the bottom.

2. Key Data (as of March 14, 13:00 HKT)

Bitcoin: $81,912.51 (Year-to-date -12.43%), daily spot trading volume $31.072 billion
Ethereum: $1,890.33 (Year-to-date -43.28%), daily spot trading volume $19.235 billion
Fear and Greed Index: 27 (Fear)
Average GAS: BTC 2 sat/vB, ETH 0.43 Gwei
Market Share: BTC 60.72%, ETH 8.25%
Upbit 24-hour trading volume ranking: XRP, BTC, TRUMP
24-hour BTC long-short ratio: 0.992
Sector performance: SocialFi sector up 2.49%, RWA sector down 2.22%
24-hour liquidation data: A total of 83,939 people were liquidated globally, with a total liquidation amount of $204 million, including $75.749 million in BTC and $35.895 million in ETH.