U.S. February S&P Global Services and Manufacturing PMI preliminary figures both below expectations

Bitcoin ETF saw nearly a $300 million outflow in a single week! Global crypto funds finally ended 4 weeks of inflows

Due to the impact of the Iran conflict and inflation expectations, investors’ risk appetite has declined, leading to nearly $300 million in net outflows from U.S. Bitcoin spot ETFs last week, and global crypto funds also saw $414 million less in fund inflows. Ether was hit the hardest, with outflows totaling $222 million; year-to-date, it still shows negative net inflows, while Bitcoin has continued to maintain positive net inflows this year.

Pan Sen Macro: The European Central Bank may raise rates by 25 basis points in both June and July, with inflation expected to hold steady at 2.5%-3.0%

Panther Macro’s Claus Vistesen report says the European Central Bank is expected to raise rates in the coming months, with inflation rising to 2.5% in March and potentially stabilizing in a range of 2.5% to 3.0%. It is expected to raise rates by 25 basis points in June and July, but weak economic conditions could make rate cuts a policy option. The central bank will seek to strike a balance between inflation and recession risks.

Wintermute: Energy is building in the crypto market, but the direction is unclear—there may be a sudden surge in trading activity.

Wintermute says the easing window for the situation is coming to an end. The cap on risk assets is lower than before, making it difficult for Bitcoin to stay above $700,000. If diplomatic progress goes smoothly and oil prices pull back, Bitcoin could rebound to $70,000–$74,000; if conditions deteriorate, it could fall to $60,000, or even to $50,000–$55,000. The extent of market volatility may exceed current pricing.

BTC drops 0.58% in 15 minutes: a pullback triggered by on-chain capital flows accelerating and a resonance with macro uncertainty

2026-03-31 09:45 to 10:00 (UTC), BTC recorded a return of -0.58% within 15 minutes, with a trading range of 65,996.1–66,509.1 USDT, a volatility of 0.77%. Short-term fluctuations intensified, drawing market attention. Total on-chain transfers reached 420,000, with the number of transactions as high as 27,986, indicating rapid capital movement and a phased increase in market participation, though overall trading remains cautious. The primary drivers behind this deviation are on-chain large-capital reallocation activity and an acceleration in fund flows. On-chain data shows that both the total transfer volume and the number of transactions have risen together

People’s Bank of China: Continue to implement a moderately loose monetary policy and increase the strength of counter-cyclical and cross-cycle adjustments

The People’s Bank of China convened a meeting of the Monetary Policy Committee to analyze the current global economic situation. The meeting emphasized the need to continue implementing a moderately accommodative monetary policy to respond to external shocks and promote steady economic growth and a reasonable rebound in prices.

Meme coins’ decline hits a historic high, with 40% of the tokens nearing their historic lows

Analyst Darkfost pointed out that more than 40% of altcoin prices are approaching historical lows, reflecting market pressure and structural issues. Despite the downturn, identifying resilient projects may deliver long-term returns. Investors should focus on fundamentals and market resilience, uncovering opportunities at lower levels to prepare for the coming phase of divergence in market conditions.