Good morning. In the past 24 hours, the market has shown a clear 'strength-weakness switch': BTC has been fluctuating narrowly above $70,000, while ETH has demonstrated stronger resilience, successfully recovering most of the ground lost over the weekend, with bullish forces returning to the Ethereum ecosystem.

1. Core Facts (The Facts)

ETH Market: Currently at $2,160.30, 24h increase +0.73%. The price has stabilized at the middle band of the Bollinger Bands ($2,146), and the 1-hour MACD is in the bullish crossover phase.

BTC Market: Currently at $70,705.76. The 24h performance is relatively flat (-0.06%), currently oscillating around $70,500.

ETF Trends: * BTC: Recorded a net inflow of $102.6 million on March 24 (led by Fidelity).

ETH: [Uncertainty Reminder] Although the price rebounded on March 24, Glassnode data indicates that there is still slight outflow pressure for spot ETH ETFs, and institutional demand has not fully erupted.

2. The Logic

Exchange Rate Reversal: The ETH/BTC exchange rate shows signs of rebound at a low level. As BTC's volatility decreases, existing funds are beginning to attempt to attack ETH's resistance level of $2,200.

Policy Expectations: The SEC has just approved Nasdaq's proposal for 'tokenized securities' to be traded alongside traditional stocks, which provides direct underlying logical support for Ethereum (as the main public chain for RWA).

3. Upcoming Events

Today 10:00 PM (Beijing Time): U.S. Congress Tokenization Hearing.

Core Point: Discussion on the (2026 Market Tokenization Modernization Act). Testimony will be provided by the CEO of the Blockchain Association and others.

Impact: Directly related to the compliance costs and future scale of the RWA track.

Continuing Attention: Behind-closed-doors discussions in the Senate regarding the (CLARITY Act) stablecoin provisions. This involves the legality of stablecoin yield distribution and is the biggest policy patch of the month.

4. Action Recommendations

Position Status: It is recommended to hold ETH spot positions, which are currently in a rising channel recovery, with the first strong resistance level at $2,200.

Swing Trading: If ETH holds above $2,188 (previous high), a slight increase in positions can be considered; if it falls below $2,103 (Bollinger lower band), it indicates a failed recovery, and a second bottom should be guarded against.

Risk Warning: [Uncertainty Reminder] Pay attention to the large options expiration on Deribit this Friday. Currently, there is intense competition around the $70,000 mark, and a 'magnetic effect' targeting this price level may lead to significant volatility before Friday.

☕ Notes:

When BTC rests, ETH's performance is the market's 'thermometer'. If Ethereum can break through the resistance level with volume, this rebound can be considered truly established. Maintain rigor and only trade within logical parameters.

#ETH #行情日志 #RWA听证会 #内容挖矿 #CLARITYAct