I. Fundamental Analysis

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Whale Dynamics: Among the top 100 whales, the 21st whale's actions are particularly noteworthy. When the price of Bitcoin approached $88,000, it reduced its holdings by 2,298 Bitcoins, while very few whales increased their Bitcoin holdings. Currently, this whale holds only 40,000 Bitcoins. The significant reduction in holdings by the whale suggests that Bitcoin may face greater risks in the upcoming trends.

ETF Data: In terms of macro data, we focus on ETF indicators. On March 17, we emphasized that Bitcoin ETFs began to see inflows, with a net inflow of $300 million on that day, followed by additional inflows of $200 million in the subsequent days. Overall, many investors have started to view Bitcoin's investment value positively in the relatively low range of $80,000. It is crucial to pay attention to this important macro indicator of ETFs. If Bitcoin's price continues to maintain a net inflow status, it is highly likely to reach new highs again.

II. Technical Analysis Interpretation

Bitcoin: On the weekly level, the current price of Bitcoin is $87,657. From the weekly perspective, the 30-week moving average has begun to stabilize slowly after a previous breakdown. After breaking below the 30-week moving average, Bitcoin's price has gradually rebounded upwards. This indicates that Bitcoin's price is expected to continue to stabilize above the 30-week moving average and may attempt to reach $94,000 or even $95,000.

Looking at the MACD indicator, the fast line and slow line are above the zero axis. If a golden cross forms, it will trigger a larger upward movement. Currently, the bearish momentum has gradually weakened, and Bitcoin is likely to experience a new bullish counterattack on the weekly chart, with a strong upward trend expected.

On the daily level, Bitcoin's price has successfully broken through the downward trend line and the 30-day moving average, although the 5-day and 10-day moving averages have not yet crossed above the 30-day moving average. If the 5-day and 10-day moving averages cross above the 30-day moving average, it can basically confirm that Bitcoin's price has stabilized above the 30-day moving average. The day before yesterday, Bitcoin's price showed significant volume during the breakout. Therefore, around the $87,000 mark, investors can still choose to hold, maintaining the target price outlook towards $94,000 - $95,000.

Ethereum: Observing the weekly chart of Ethereum, we find that since 2022, two channels have formed from the high to the low. During the price decline, the divergence gradually expanded, meaning the price moved further away from the 30-week moving average, and then began to build a bottom and rebound. After the rebound reached the 30-week moving average, it tested the bottom again. Notably, when Ethereum's price dropped to around $1,950 from the high, the divergence was also significant, and it stabilized at this level. This indicates that Ethereum is likely to take this opportunity for a strong counterattack.

On the daily chart, Ethereum presents two triangular patterns. One triangle is a continuation of the downward trend, which then broke downwards. They are both suppressed by the triangular pattern and the 30-day moving average. Currently, if Ethereum's price can break through $2,145 (near the 30-day moving average), it may continue to rise significantly. Here, we need to patiently wait for a clear direction in Ethereum's price movement. If it violently breaks upwards, investors can further hold or appropriately increase their positions; if it breaks downwards, we need to pay attention to the support level at $1,950.

Additionally, it is worth mentioning that Ethereum will undergo the Prague upgrade in early April, which is expected to boost Ethereum's price. If investors have previously held Ethereum at $1,950, it is recommended to continue holding.

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