March 7th Bitcoin and Ethereum Market Analysis

Bitcoin has recently fluctuated between $68,000 and $74,000, with $74,000 becoming a key resistance level. After multiple unsuccessful tests, a pullback occurred. The technical indicators show that the upward momentum is weakening, leaning towards high-level consolidation or a "door painting" market in the short term. On the macro level, the tensions in the Middle East have not eased, putting overall pressure on risk assets. Bitcoin's "digital gold" safe-haven attribute is temporarily ineffective, and after a rebound, it often quickly retraces. The funding situation is also cooling down, with a slowdown in spot ETF inflows, even showing a slight net outflow, contrasting with the strong inflows at the beginning of the month. In the short term, we need to wait for new catalytic factors to emerge.

As for Ethereum: the intraday volatility is high but overall weak, under pressure along with Bitcoin.

Operational suggestion: Currently, it is still not recommended to take large long positions.

Wait for a pullback to the stronger support zone of $65,000–$67,000. Gradually accumulate positions with light long trades.