The intraday cryptocurrency price experienced a slight correction and recovery, then rebounded again in the afternoon. The low point reached around 6.74 million, and currently, the price has rebounded to near the pullback level from early morning. The short-term correction strategy shared earlier has been validated once again. The short positions established in the early session have been precisely captured for nearly a thousand points of profit. Recently, our real trading account doubling plan has been reignited. For friends looking to quickly escape the current predicament, it might be worth following the trend and giving it a try. Recently, the overall price movement has been characterized by oscillating upward trends. On the hourly chart, there have been three consecutive bullish candles, rapidly approaching previous highs. However, lacking sufficient stimulation, the upward momentum during the daytime has been weak. The ongoing tug-of-war situation is likely to continue further. After testing the 66,000 support level and bouncing back, the price entered a slow consolidation phase. Compared to earlier market conditions, the degree of bullish and bearish struggle has eased somewhat, but the current market still lacks a clear directional choice. Moving forward, we remain cautious and expect continued consolidation. Adjust your short-term strategies in line with market trends. In the afternoon, our short-term outlook remains focused on a price correction, with opportunities to short on rebounds. For Bitcoin, consider shorting near 68,800, watch around 67,800; for Ethereum, short near 2,000, and watch around 1,900.

Global financial markets are being torn by two forces. The escalation of conflicts in the Middle East and the tense situation in the Strait of Hormuz have caused international oil prices to soar, with New York crude rising over 6% to $71.23 per barrel, Brent crude up 6.68% to $77.74 per barrel, and European natural gas prices surging 50%. Meanwhile, sources say the Bank of Japan basically ruled out the possibility of a rate hike at the March 18-19 meeting, with the only exception being the yen's sharp depreciation approaching the 160 level. Bank of Japan Deputy Governor Naoki Tamura did not signal a hawkish stance, and the market quickly dialed back expectations for rate hikes. For the cryptocurrency market, this is a complex game involving global liquidity, inflation expectations, and asset safe-haven attributes. There are three transmission channels: First, the Bank of Japan's pause on rate hikes delays global liquidity tightening, temporarily easing the wave of yen carry trades, but the dollar index rebounded above 104.5, putting downward pressure on Bitcoin. Second, inflation dynamics are shifting from demand-driven to cost-push, with soaring oil prices increasing stagflation risks, and the US 5-year breakeven inflation rate rising to 2.5%. Third, the yen's role as a speculative currency anchor could trigger a sudden rate hike by the Bank of Japan if it breaks through 160, leading to a rush of arbitrage trades. On-chain data shows Bitcoin has recently been fluctuating between $60,000 and $70,000. When gold rises, Bitcoin has occasionally dipped, raising questions about its status as digital gold. Large whale addresses have reduced holdings by 12,000 BTC over the past week, while exchange reserves have increased. About 38% of altcoins are near historical lows, and the Ethereum-to-Bitcoin exchange rate has fallen to around 0.045. Stablecoin market cap has shown no growth, and the market relies on existing stock for trading. According to Coinglass, over 100,000 traders were liquidated in the past 24 hours, totaling $334 million. Future investors should pay attention to three major variables: the situation in the Strait of Hormuz, the yen exchange rate, and the Federal Reserve's response. Institutional views from QCP Capital suggest short-term market volatility but limited long-term impact, with some traders positioning for a rebound. Strategists at Academy Securities note that this is the third time Bitcoin has acted as an emotional barometer during Middle East conflicts over a weekend. Investors should adjust their strategies based on different scenarios and maintain flexible positions.

Continue with the original approach in the afternoon; overall, it remains a range-bound trading environment. As long as you keep the rhythm, bulls and bears can still easily profit. $BTC $ETH