News

BlockBeats News, March 8th, according to Onchain Lens monitoring, after previously longing Crude Oil futures CL (WTI Crude) and Brent Oil, Sky Alliance Rune has opened a 7x leveraged short position on ETH and the Nasdaq 100. At the same time, their account still holds TWAP (Time-Weighted Average Price) orders, with plans to continue accumulating four trading positions.

BlockBeats News, March 8th, last night this morning, the Islamic Revolutionary Guard Corps of Iran announced that it has launched the 27th round of the "Sincere Promise 4" military operation. In this round of operations, Iran used drones and missiles to strike at key Israeli homeland targets and some US military bases in the Middle East. Additionally, Iran also used Katyusha rockets to attack the US Embassy in Baghdad. Iran's Secretary of the Supreme National Security Council, Larry Janni, stated, "Iran will punish Trump for the assassination of the Supreme Leader Khamenei, and will never let him escape. Iranian officials have no differences on how to respond to US and Israeli aggression." According to Iran's state television, Iran is prepared for at least another six months of war. Possibly affected by this, the crypto market has entered a downturn. Bitcoin briefly fell below $67,000 this morning, now trading at $67,321.42, with a 24-hour decrease of 0.81%. The total cryptocurrency market capitalization has fallen below $2.4 trillion, now standing at $2.382 trillion, nearly halving from its peak of $4.37 trillion.

On-chain analyst Willy Woo posted on X that bitcoin is facing local resistance around $75,000, but investor capital inflows have been steadily recovering since mid-February. The stock market's expected volatility indicator, VIX, suggests that market sentiment may shift towards "risk-on" in the coming weeks. He stated that the early stage of the bitcoin bear market saw a decline that was too rapid, and the current market environment is creating conditions for a price rebound to test around $85,000, although the market has not yet bottomed out. From a long-term liquidity perspective, bitcoin is still in the mid-stage of a bear market. Historically, after similar rapid declines, the market usually experiences a period of sideways consolidation and multiple tests of key resistance levels.