TradingView data shows that the price of Ethereum plummeted by nearly 20% in the seven days ending on March 9, marking the largest weekly percentage drop since November 2022. This sell-off broke the bullish trend line that started from the low point after the collapse of the Terra algorithm stablecoin UST in June 2022, which led to losses of billions of dollars for investors.

Victor Ji, co-founder of Manta Network, criticized market makers in the cryptocurrency market on social media, calling them "blood-sucking parasites." He said that the team receives daily invitations to buy coins and acquisitions from so-called active market makers and OTC, but he believes that market makers "completely ignore the fundamentals of the project" and only profit from the project community.

Decentralized finance and digital asset company DeFi Technologies announced an increase in its stake in the Swiss licensed asset management company Neuronomics AG. It has now acquired a majority stake in the company, reaching 52.5% ownership. This transaction is also a capital increase for DeFi Technologies' acquisition of Neuronomics shares, the latter of which already holds an asset management license issued by the Swiss Financial Market Supervisory Authority (FINMA).

Avalon Labs announced that it has successfully obtained a minimum of $2 billion credit line, which is provided by a well-known Asian financial consortium. This marks an important milestone for institutional borrowing in the crypto industry. This historic breakthrough is not only an important milestone for the institutional development of DeFi, but also highlights the strategic position of Bitcoin in the global financial system.

Crypto scammers are taking advantage of trade war fears by using fake news articles and impersonating government figures, as reported by securities regulators in Alberta and New Brunswick, Canada. The Alberta Securities Commission issued an alert on March 7 regarding a scam called CanCap, which falsely claimed an endorsement from former Prime Minister Justin Trudeau through a fabricated news article from CBC. Similarly, the Financial and Consumer Services Commission of New Brunswick warned on March 5 about CanCap using a fake news article with a forged endorsement from Premier Susan Holt. These scammers are exploiting current events to prey on individuals' vulnerabilities and are using artificial intelligence to create fake endorsements and content to appear legitimate. The regulators highlighted the scammers' ability to quickly change the name and appearance of the scheme, with losses from crypto scams, hacks, and exploits reaching nearly $1.53 billion in February.

According to Santiment analysis, wallets holding more than 10 bitcoins have experienced several key turning points in the past 6 months. The slight selling from mid-February to early March intensified the recent decline in the crypto market. However, since March 3rd, these large wallets have re-accumulated nearly 5000 bitcoins, while retail investors are in a state of panic.

According to Cloverpool data, the Bitcoin mining difficulty adjustment occurred at block height 887,040 (Beijing time 03-09 23:58:46), with a difficulty increase of 1.43% to 112.15T, nearing the historical high point (114.17). Currently, the average network hash rate in the past seven days is 794.85EH/s, predicting the next difficulty adjustment to be at 114.16T.

According to Cointelegraph, European Central Bank President Lagarde stated that the EU plans to launch a digital euro in October. Earlier reports stated that the European Central Bank President said that without completing legislation, the digital euro cannot be advanced.

RealVision crypto analyst Jamie Coutts said that a weak dollar could push Bitcoin higher, but there are two key indicators that may cause concerns in the short term. Despite the sharp drop in the dollar, my framework is becoming bullish, but two indicators are still causing alarm: the US Treasury bond volatility (MOVE index) and corporate bond spreads. Coutts describes Bitcoin as a game between central banks around the world, and despite these worrying indicators, the overall outlook remains cautiously bullish. The MOVE index is an indicator of expected volatility in the US Treasury bond market. Coutts noted that while the MOVE index is currently stable, it is trending upwards. An increase in bond volatility could lead to further liquidity tightening, and at the same time, corporate bond spreads have widened for three consecutive weeks. Reversals in significant corporate bond spreads typically coincide with Bitcoin price peaks. Coutts concludes that overall, these indicators present a negative signal for Bitcoin. However, the depreciation of the dollar - one of the largest monthly depreciations in the past 12 years - remains a key driver in my framework.

JPMorgan Securities raised its year-end forecast for the yield on Japan's benchmark 10-year government bonds from 1.55% at the end of January to 1.7%, believing that US policies may bring various risks. It is predicted that the Bank of Japan will raise interest rates in June and December, but actions that the US may take could complicate the situation; if tariffs put pressure on global economic growth, it may hinder the Bank of Japan from raising rates, but if Japan is accused of letting the yen depreciate, it may hastily raise rates, fixed income research director Takashi Yamawaki and strategist Hiroki Yamamoto wrote in a report on March 10.