Daily News | February CPI Was Lower Than Expected, Altcoins Rebounded, PI And RED Tokens Rose By More Than 20%

Crypto Daily Digest: Blockchain-related terms hit a new high in SEC documents, and 99.2% of new shares of Trump’s crypto project WLFI have been sold

As of press time, according to Farside Investors data, yesterday’s U.S. Bitcoin spot ETF had a net outflow of $60.39 million, of which ARKB had a net inflow of $82.6 million, BTCO had a net outflow of $12.4 million, and GBTC had a net outflow of $11.8 million. Yesterday’s ETF net outflow ended a four-day streak of net outflows.

Yesterday, the U.S. Ethereum spot ETF had a net outflow of $10.4 million, of which FETH had a net outflow of $3.7 million and Grayscale ETH had a net outflow of $3.5 million.

Blockchain-related terms in SEC filings hit record high in February

Terms related to blockchain in the U.S. Securities and Exchange Commission (SEC) documents reached an all-time high in February, with the EDGAR database recording more than 5,000 related mentions, showing a continuous upward trend since mid-2023. The mainstream market view is that this growth is consistent with the SEC’s major shift in its regulatory attitude toward the crypto industry.

The current mainstream CEX and DEX funding rates show that the market is still bearish

According to Coinglass data, the current mainstream CEX and DEX funding rates are still less than 0.005% as of March 13, indicating that the crypto market is still in a bearish trend. The funding rate is a rate set by the crypto trading platform to maintain a balance between the contract price and the price of the underlying asset. It is usually applicable to perpetual contracts and is used as a fund exchange mechanism between long and short traders.

99.2% of new shares of Trump’s crypto project WLFI have been sold

According to the official website, 99.2% of the additional 5% of the Trump crypto project WLFI (5 billion tokens) have been sold as of March 13. Recently, the price of the additional 5% supply of the Trump crypto project WLFI has risen to $0.05, and the previous round of price was only $0.015.

Opinion: U.S. Treasury Secretary expected to clarify budget-neutral Bitcoin purchase measures by May 5

K33 analysts said that despite the general market sell-off due to concerns about a recession, President Trump’s “Strategic Bitcoin Reserve” executive order is still a “big deal.” In addition, analysts expect U.S. Treasury Secretary Scott Bessent to clarify the budget-neutral Bitcoin acquisition measures before May 5.

Market Trends: Altcoins started to rebound, PI and RED tokens rose by more than 20% in 24 hours

Market Hotspots

In the past 24 hours, the market has entered a volatile mode, with both long and short positions being liquidated. A total of 93,200 people worldwide were liquidated, with a total liquidation amount of $270 million, of which long positions were liquidated for $149 million and short positions were liquidated for $121 million.

Data shows that the total open interest of Bitcoin futures is 567,130 BTC, of ​​which CME leads with 144,770 BTC. The higher the number of open contracts, the greater the potential market volatility, but it should be noted that the current total open interest has decreased by about 50% since the beginning of the year, but the absolute value is still higher than the beginning of the market in November 24.

Mainstream Coins

Bitcoin maintained a weak recovery state. As of press time, Bitcoin was quoted at $84,108, up 1% in 24 hours. It should also be noted that around $84,500 is an obvious upward pressure point.

Ethereum is currently priced at $1,910, down 1.2% in 24 hours, and its performance is still weak. Ethereum has fallen by about 25% since its March high and is currently in a volatile range of $1,840-$1,950.

Altcoins generally rebounded, but the overall rebound was limited. Layer2 and Cefi performed best, rising 2.95% and 2.46% respectively in 24 hours, both less than 3%. However, the previous popular currencies PI and RED rebounded sharply, with a 24-hour increase of more than 20%.

Macro News: February CPI was lower than expected, Tesla rose more than 7%

Inflation in the United States in February cooled down across the board, exceeding expectations, with the core CPI growth rate falling to a four-year low. On March 12, the U.S. Bureau of Labor Statistics released data showing that the U.S. CPI rose 2.8% year-on-year in February, the lowest since November last year; the expected value was 2.9%, and the previous value was 3%. The U.S. CPI rose 0.2% month-on-month in February, the lowest since October last year. Traders increased their bets on the Federal Reserve to cut interest rates, expecting at least two rate cuts this year.

The cooling of inflation data eased economic concerns, and the three major US stock indexes rose and fell: the S&P 500 index closed up 0.49%. The Dow Jones Industrial Average closed down 0.20%. The Nasdaq closed up 1.22%. The Nasdaq 100 closed up 1.14%. Technology stocks rebounded sharply, with Tesla soaring more than 7% and Nvidia rising more than 6%.