Market Overview: A V-shaped rebound reoccurs, Bitcoin returns to $87,000.
Today, the market experienced significant volatility, with Bitcoin briefly dropping to $81,000 but quickly rebounding to $87,000. Altcoins showed mixed performance, with some tokens stabilizing and rebounding while others are still adjusting.
DeFi Sector: AAVE rebounds to $200, ENA and DEXE lead the gains.
In the decentralized finance (DeFi) sector, AAVE has rebounded to $200 amid a market uptrend, while ENA and DEXE recorded nearly 10% gains, indicating that market sentiment is gradually warming.
The Meme & AI sector is under pressure, with some tokens falling over 20%.
The Meme and AI sectors continue to be under pressure, with WIF and SPX declining over 10%, and ZEREBRO and SWARMS plummeting over 20%. Market funds seem to be shifting towards more stable assets.
New developments in the Solana ecosystem: The Sonic layer-2 network goes live.
The Solana ecosystem welcomes new developments, with the Sonic layer-2 network officially launching on the mainnet. Sonic aims to enhance Solana's scalability and transaction efficiency, providing better infrastructure support for DeFi and NFT applications.
Three key events are about to occur.
Trump will deliver a speech at the joint session of Congress, which is expected to involve economic policies and election-related content.
The Ethereum testnet Sepolia welcomes the Pectra upgrade, paving the way for the mainnet upgrade.
ENA welcomes the unlocking of 2.07 billion tokens, and the market may face certain selling pressure.
The White House cryptocurrency summit is about to be held, and Trump may release significant positive news.
The White House cryptocurrency summit is scheduled to take place on Saturday, March 8, at 2:30 AM. It is rumored that Trump may announce the cancellation of capital gains tax on cryptocurrency sales at the summit. If this policy is implemented, it will greatly enhance the attractiveness of the U.S. to the cryptocurrency industry and may even drive a new influx of capital.
Opinion Analysis
The V-shaped movement of this market indicates strong support for Bitcoin around $81,000, and the strength of the rebound also reflects that there is still a strong bullish sentiment in the market. However, the continued decline of the Meme and AI sectors suggests that the market is shifting towards more stable mainstream sectors, and there may still be fluctuations in the short term.
On the other hand, the tax incentives that Trump may bring will be a key variable affecting the market. If the U.S. government adopts a more favorable attitude toward the cryptocurrency industry, it may attract institutional funds back, driving a new round of bull market. However, policy uncertainty still exists, and market sentiment may further adjust as news materializes.
In the coming days, whether Bitcoin can stabilize at $87,000, the market reaction after ENA unlocking, and the final results of the White House summit are all key points that investors need to pay attention to.
