Metrics Ventures Market Watch: Benign consolidation is coming as expected

Metrics Ventures, a secondary fund in the 암호화폐 market, has published a review of its March market observations:

1/ This months market conditions have led many peers to call for the end of the bull market, but we firmly believe that the volatility of Bitcoin here just confirms the previous view that this round of market conditions has only reached the halfway point. This is mainly based on the trend fitting relationship between Bitcoin and US dollar risk assets, the reasons for the adjustment of the US dollar system at this moment, the re-strengthening of long-term logic, and the re-confirmation of the moderate macro-regulatory environment.

2/ The weakening of a large number of altcoins represented by Ethereum is the main pessimistic support for the market at present. As always, we adhere to the view of decoupling Bitcoin and other crypto assets since April last year. The real macro-supported liquidity bull market has not yet arrived. At the same time, we should also pay attention to the huge uncertainty in the next round of capital flow path.

3/ Looking ahead, we believe that the high turnover range formed here has been broken, confirming that the market has entered a period of re-consolidation and accumulation of momentum, but looking back at the historical trends of core US dollar assets such as AAPL, we believe that the real key support for Bitcoin is around 75,000, and there is no need to worry before that.

Inventory and comments on the overall market situation and market trends:

One of our core focus indicators for Bitcoins current trend is Bitcoins positioning as a risky asset in the US dollar system. The effectiveness of this observation is due to the fact that the switching of core assets in the US dollar system has always been gradual and driven by macro, regulatory, fundamental and other factors. Specifically, the following trend indicators we have observed are still strong:

① Bitcoin still has a clear advantage in Sharpe ratio compared to the Nasdaq and other Seven Sisters assets, and Bitcoins resilience has once again been verified in a series of factors such as tariffs;

② The loosening of chips on the chain is not serious, especially in the release of negative news, it shows a stronger signal of acceptance rather than a signal of collapse, and the supply has not increased out of control;

③ From a regulatory perspective, we believe that the recent series of regulatory actions are significant long-term positive cornerstones. The market’s lack of understanding of the U.S. political and economic system is the main source of irrational fluctuations and will not change the long-term positive trend.

Combined with Bessent’s recent indication of the pace of risk release for the entire US dollar, we firmly believe that the mid-term adjustment cycle starting in February is an excellent opportunity to build positions in the next 15 months.

Finally, in our opinion, the industrys liquidation has finally entered a rapid period. If the liquidation period can resonate with emotions at a fast and strong amplitude, it may just catch up with the next macro liquidity bull market. However, we still need to remind you that the capital flow path of the next bull market may be completely different from that of 21 years. Therefore, the existing so-called crypto assets need to be extremely cautious from a long-term holding perspective.

Figure: The strength and weakness relationship between BTC and Nasdaq in the past three years

우리에 대하여

Metrics Ventures는 경험이 풍부한 암호화폐 전문가 팀이 이끄는 데이터 및 연구 중심의 암호화폐 자산 2차 시장 유동성 펀드입니다. 이 팀은 1차 시장 인큐베이션과 2차 시장 거래에 대한 전문 지식을 보유하고 있으며, 심층적인 온체인/오프체인 데이터 분석을 통해 산업 개발에 적극적으로 참여합니다. MVC는 암호화폐 커뮤니티의 선임 인플루언서와 협력하여 미디어 및 KOL 리소스, 생태 협업 리소스, 프로젝트 전략, 경제 모델 컨설팅 역량 등과 같은 프로젝트에 대한 장기적인 권한 부여 지원을 제공합니다.

누구나 DM에 참여하여 암호 자산 시장과 투자에 대한 통찰력과 아이디어를 공유하고 논의할 수 있습니다.

채용 중입니다. 암호화폐 투자에 능숙하시다면 ops@metrics.ventures로 연락해 주세요.

저희의 연구 내용은 Twitter와 Notion에 동시에 게시됩니다. 팔로우를 환영합니다.

Twitter: https://twitter.com/MetricsVentures

Notion: https://www.notion.so/metricsventures/Metrics-Ventures- 475803 b 4407946 b 1 ae 6 e 0 eeaa 8708 fa 2 ?pvs=4

This article is sourced from the internet: Metrics Ventures 시장 Watch: Benign consolidation is coming as expected

Related: MVC Market Insights | Overview of recent Trump administration appointments and legislative progress

introduction Bitcoin has fallen recently, but its status as a core asset of the US dollar has not been affected . With the trend of regulatory relaxation, US dollar assets are expected to maintain a volatile upward trend. With the implementation of the Trump administrations crypto-friendly policies, the US crypto industry has ushered in unprecedented opportunities. Core institutions such as the Treasury Department, SEC, and CFTC are led by officials who support cryptocurrencies. The White House has established a digital asset working group , and Congress has established a crypto asset committee to promote the legalization and institutionalization of the industry. This policy orientation has boosted market confidence and accelerated the entry of mainstream financial institutions. At the legislative level , the advancement of the FIT21 bill, the establishment of…