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The Hong Kong Stock Exchange today published a consultation document regarding the shortening of the settlement cycle for the Hong Kong stock cash market (the "Consultation Document"), proposing to shorten the settlement cycle from the current T+2 to T+1, and seeking market opinions on the proposal.

According to CoinDesk, the current Bitcoin halving cycle has surpassed halfway, with block rewards reduced to 3.125 BTC, an inflation rate below 1%, and total supply continuously approaching the fixed cap of 21 million coins.Since the 2024 halving, the price of Bitcoin has increased by about 15%, a rise lower than in previous halving cycles, reflecting a gradual decrease in price volatility as Bitcoin adoption increases and the market matures. This cycle is expected to end in 2028, with halving events occurring every 210,000 blocks, approximately every four years.Data shows that Bitcoin reached an all-time high of about $126,000 in 2025, then fell back to $60,000, with recent prices recovering to nearly $75,000. The current market is focused on whether a price breakthrough above $75,500 could lead to about $200 million in short positions being liquidated, further driving price movements.

In the 13th anniversary open letter, Gate founder and CEO Dr. Han pointed out that the crypto industry is undergoing a structural reshaping driven by multiple variables. Technological evolution, improvements in regulatory systems, changes in the macro environment, and a broader user base are all working together to influence the industry's development path, continuously raising the overall threshold.Dr. Han stated that this change is reflected not only in compliance and technical requirements but also in the higher demands for platform system capabilities and long-term investment; as the threshold rises, resources and space are accelerating towards participants who possess long-term judgment and sustained investment capabilities, and long-termists will gain more certain growth opportunities in the new cycle.As a global leading crypto asset trading platform, Gate always regards security and transparency as the cornerstone of development, being the first to introduce a 100% reserve proof scheme and continuously expanding its global compliance footprint. Currently, multiple entities under Gate have obtained or completed relevant regulatory registrations, license applications, authorizations, or approvals in jurisdictions such as Malta, Cyprus, the Bahamas, Japan, Australia, and Dubai. At the same time, the platform deeply integrates AI innovative technology, building an ecosystem that covers multi-asset allocation and full-scenario services, driving the industry towards a smarter and more sustainable future.

JP Richardson, CEO of Exodus, stated that this year institutions are accelerating their entry into the cryptocurrency market, while retail participation has declined, indicating that the market may be entering a new phase dominated by institutions.He pointed out that the current market capitalization of stablecoins has reached an all-time high, and traditional financial institutions are continuing to make moves, including launching Bitcoin ETFs and establishing crypto-related business departments. Michaël van de Poppe, founder of MN Fund, also mentioned that under inflation and cost-of-living pressures, retail funding is constrained, and this cycle may exhibit characteristics of being institution-led and lasting longer. Additionally, CryptoQuant data shows that the inflow of funds into small accounts holding less than 1 BTC on Binance has dropped to a nearly nine-year low, indicating a decline in retail participation.

Liquid Capital founder Jack Yi stated during a live broadcast at Binance Square on April 8 that since entering the cryptocurrency industry at the end of 2015 and experiencing two to three cycles of bull and bear markets, he still tends to be "long-term bullish," but the premise is not to be overly optimistic and to face the market's cyclicality and "huge volatility." In his view, the pullbacks and rebounds of crypto assets far exceed those of traditional markets, and investors need to maintain clarity and risk awareness amid the volatility.Regarding the market pressure this year, Yi attributed it to multiple external factors: the unfulfilled expectations of interest rate cuts at the macro level, geopolitical disturbances, slower-than-expected policy advancements, and the cooling of certain narratives (such as "national strategy"); combined with the impact of the four-year cycle, he believes the correction may exceed the original plan. However, he emphasized that this is more about the external financial environment and cycles amplifying short-term volatility, and his core judgment on ETH from a long-term perspective has not changed.On the strategic level, he believes that the difficulty of primary investments has significantly increased after 2022-2023: early-stage primary project cycles are shorter, and liquidity is released faster, but as market structures and unlocking/circulation arrangements change, the window of opportunity for investors has clearly narrowed, making primary investments "not as easy as before." Therefore, he is gradually reducing his involvement in primary investments and focusing more on research and opportunity capture in the secondary market.In addition, he emphasized that AI is accelerating the reshaping of the competitive landscape: over the past two to three months, he has invested more effort into learning about AI and promoting the transformation of invested companies towards AI, believing that individuals and teams that do not understand or cannot use AI in the future may be quickly eliminated. In response to external controversies such as "pumping and dumping," he stated that investment ultimately depends on asset value and trends, and large markets are difficult to be driven by a single participant.

Crypto analyst Ali published a lengthy analysis on the X platform, pointing out that rather than debating whether Bitcoin has bottomed out, it is better to focus on whether the current volatility constitutes a "generational entry opportunity." Based on indicators such as long-term trend lines, on-chain liquidity, and cost distribution, the core "value range" of this cycle is defined.In terms of support, the UTXO Realized Price Distribution (URPD) shows that there is a significant concentration of chips in the range of approximately $63,111 to $70,685, forming the current main support zone; if it falls below $63,111, the market may enter a liquidity vacuum. From a long-term trend perspective, Bitcoin is approaching the key upward trend line of the past decade (approximately $56,000 to $60,000), which historically has often corresponded to accumulation phases before major upward movements.

According to analyst Alicharts, Bitcoin has dropped 52% since its peak in October 2025, with a 3-day SMA crossover signal appearing on February 27 (the death cross of both the 50-period and 200-period SMA), which has now lasted for 30 days. Historical patterns suggest that the final accumulation window of this cycle may occur within the next 3-6 days.Alicharts points out that historical records show that in every major cycle since 2014, the crossover of the 50 and 200 SMA marks an absolute bottom and a golden buying opportunity. Past cycles indicate that a final drop of 40-52% occurs 23-33 days after the crossover, completing the bear market washout. The potential washout target for this cycle is between $30,000 and $40,000, after which the next bull market will begin.

Market maker Wintermute's latest market weekly report indicates that the ratio of Bitcoin perpetual contract trading volume to spot trading volume has risen to 15 times, while the funding rate volatility has dropped to a low point in this cycle, showing that market leverage is high but there is insufficient directional consensus. The current structure is closer to "compression and accumulation," or brewing significant unilateral volatility.Wintermute believes that if geopolitical tensions ease and oil prices fall back to around $100, short positions will face the risk of being squeezed to between $70,000 and $74,000. If the situation continues to ease, the resistance level at $74,000 may be tested.Conversely, if the situation escalates further and oil prices rise to $120, oil prices could drop to just above $60, and if the cyclical trend is similar, it could fall to the mid-high $50,000 range. More macro-wise, the directionality here is not important; what matters is the market structure itself. The leverage on futures contracts is high, capital flows are fluctuating within the narrowest range ever recorded, and volatility is also narrowing.Regarding which direction the catalysts ultimately develop, the market structure indicates that the resulting volatility will far exceed the levels currently reflected in spot, futures, and options prices.

According to Jinshi Data, the People's Bank of China Monetary Policy Committee held its first quarter meeting of 2026 (the 112th meeting) on March 26. The meeting analyzed the domestic and international economic and financial situation, noting that the current changes in the external environment have deepened, the momentum of the world economy is weak, geopolitical conflicts and trade conflicts are frequent, the economic performance of major economies is diverging, and there is uncertainty in inflation trends and monetary policy adjustments.China's economic operation is generally stable, with progress in stability and new achievements in high-quality development, but it still faces issues and challenges such as strong supply and weak demand, and external shocks. It is necessary to continue implementing a moderately loose monetary policy, increase counter-cyclical and cross-cyclical adjustments, better leverage the dual functions of monetary policy tools in terms of both total volume and structure, and strengthen the coordination and cooperation between monetary and fiscal policies to promote stable economic growth and a reasonable rebound in prices.

The globally oriented Web3 intellectual property (IP) infrastructure project BeatSwap will launch its core product "Space" in Q2. This product is defined as the SocialFi layer in the ecosystem, aimed at directly connecting creators with users and achieving deep integration with other modules of the platform.As a result, a complete user behavior closed loop is formed within the platform: Discovery; Participation; Consumption; Rewards; Trading. The announcement states that the launch of this product marks BeatSwap's evolution towards a full-stack Web3 infrastructure. Through the integration of IP certification and on-chain registration, revenue distribution, incentive mechanisms, and other aspects, the platform constructs an end-to-end closed-loop path, allowing IP rights to complete the full cycle of "creation---usage---monetization" within the same ecosystem.

According to Forbes, Goldman Sachs analyst James Yaro stated in a research report that the decline in Bitcoin and the cryptocurrency market has roughly reached the historical average level from peak to trough in this cycle. In recent weeks, Bitcoin and cryptocurrency-related stocks have shown volatility but are trending towards stability. However, Yaro warned that trading volume may decline further, and in a low trading volume environment, Bitcoin prices are prone to significant fluctuations, making any rebound difficult to sustain.He pointed out that trading volume typically remains at a low for about three months before showing a noticeable recovery. If trading volume continues to decline, cryptocurrency companies' revenues may decrease by 2% and profits by 4% in 2026. Goldman Sachs currently rates Robinhood, Figure Technologies, and Coinbase as "buy," with the stock prices of these three companies down at least 50% from their historical highs. Yaro stated that digital asset-related targets are presenting increasingly attractive entry points.Goldman Sachs CEO David Solomon revealed last month at the World Liberty Forum held at Trump's Mar-a-Lago in Florida that he holds a small amount of Bitcoin, marking a shift in his stance for 2024. This week, Bitcoin prices fell back to around $60,000, and Trade Nation senior market analyst David Morrison noted that Bitcoin previously faced resistance and retreated around $72,000. Currently, the daily MACD indicator is flattening at a neutral level, and the short-term trend direction remains unclear.

SkyBridge founder Anthony Scaramucci stated that the current Bitcoin bear market can be explained by the four-year cycle theory and long-term holders selling at the psychological price level of $100,000. He pointed out that while the inflow of institutional investors and Bitcoin ETFs has made the four-year cycle "milder," it has not completely eliminated this traditional cycle, and the collective belief of market participants can create a self-fulfilling prophecy.He predicts that Bitcoin will exhibit a volatile trend for most of 2026, with a rise beginning in the fourth quarter as part of a new bull market cycle. Scaramucci mentioned that market participants, including himself, had generally expected Bitcoin to rise to $150,000 by 2025, driven by the pro-crypto agenda of the Trump administration and a warming regulatory environment, but the market crash in October completely shattered this consensus.He used the example of Bitcoin's performance in early 2023 following the FTX collapse in November 2022 to illustrate that the market often moves in the opposite direction of mainstream sentiment, with bull markets typically starting during periods of "extreme apathy and lack of interest." The current bear market is considered a "normal" adjustment consistent with past corrections.

According to official social media news, Huobi HTX will hold a themed live broadcast titled "HTX Comprehensive Empowerment: A New Cycle for $HTX" today at 20:00 (UTC+8). At that time, HTX DAO core builder Molly, HTX DAO governance committee members DaDa, Sister Mao, CDCClub co-founder Tingting, Ctalks co-founder Daling, CMO DI Michill, and HTX research team leader Cloud will be invited to attend. They will discuss the empowerment path of the HTX DAO ecosystem and the application expansion of $HTX in various scenarios such as trading and rights, exploring the positioning upgrade and value reassessment of $HTX in the new market cycle.

Cryptocurrency market maker GSR announced the acquisition of Autonomous and Architech for $57 million, building an integrated capital market and fund management platform that covers the entire lifecycle of projects from launch to expansion.After the acquisition is completed, Autonomous will continue to operate independently, providing support for the launch and operation of tokenized organizations; Architech will become a core component of GSR's digital asset consulting business. This acquisition marks GSR's further transformation into a "one-stop capital market service provider for crypto," strengthening its layout in the institutional-grade infrastructure and full-cycle service fields.This integration aims to address the current issues in the crypto industry regarding the decentralization of services and inconsistent incentives in areas such as token issuance, governance design, liquidity, financing, and listing strategies, by providing collaborative support through a unified framework. Additionally, clients will have access to GSR's existing institutional trading, derivatives, and asset management capabilities. GSR stated that the platform will also focus on enhancing the treasury management capabilities of crypto projects, covering liquidity planning, cash flow forecasting, risk management, and asset allocation strategies, promoting the transition of crypto funds from passive holding to sustainable returns and diversified allocation.

On-chain analysis models show that the current selling pressure on the Bitcoin network has dropped to a cyclical low, indicating that the market is in a clear accumulation phase. The Sell-side Risk Ratio last triggered a "distribution signal" in December 2024, when the Bitcoin price was around $107,000, and this signal has not appeared since. Data shows that the current level of selling pressure has fallen to about one-sixth of the cyclical average, with related indicators even reflecting levels seen during the 2022-2023 bear market (when BTC prices were around $16,000 to $20,000).The model divides this cycle into two phases: the "strong distribution phase" from November to December 2024, with prices in the range of $64,000 to $107,000; and the current "accumulation phase" that has re-entered. The Sell-side Risk Ratio is used to measure the profit-taking activity of market participants relative to the overall network cost basis. When the indicator exceeds the adaptive upper threshold, it triggers a distribution signal, indicating that sellers dominate the market; when the indicator falls below the lower threshold, it triggers an accumulation signal, meaning selling pressure is extremely low. Data shows that the distribution signal in this cycle lasted a total of 37 days, covering the major range of BTC rising from $64,000 to $107,000.Since the signal closed on December 17, 2024, the market has not seen another distribution signal for about 449 consecutive days. Meanwhile, the 180-day rolling average of the Sell-side Risk Ratio has decreased from 3210 to 1913 over the past 60 days, a drop of 1297 points, and continues to decline at a rate of about 20 points per day. Historically, the range of 1500 to 2000 typically corresponds to selling pressure levels during 2019 (BTC around $3,000 to $6,000) and the mid-point of the 2022-2023 bear market (BTC around $16,000 to $20,000), but the current BTC price remains in the range of about $67,000 to $72,000, showing a clear structural divergence.Analysis indicates that this means early low-price holders have completed large-scale profit-taking in the $64,000 to $107,000 range, while those who did not sell in that range are currently choosing to hold. The model suggests that a new distribution signal may only be triggered when the Bitcoin price stabilizes above $100,000 to $110,000, accompanied by large-scale profit-taking. Overall, on-chain indicators show that the distribution phase of this cycle has ended, and the market has re-entered an accumulation state. The current overall judgment of the model on the market is "neutral to accumulation," but without new price catalysts, the market may face a prolonged period of consolidation.

CryptoQuant analyst Axel Adler Jr stated, "The last time the seller risk ratio showed active selling pressure signals was in December 2024 (around $107,000), after which the signal has remained off. Currently, the model shows accumulation signals, while the selling pressure on the network has decreased to about 6 times lower than the average level of this cycle. The indicator continues to decline and has replicated the levels seen during the 2022-2023 bear market, when Bitcoin prices were around $16,000-$20,000.The current cycle has gone through a distribution phase and has re-entered the accumulation phase, which is still ongoing. The 180-day rolling average has dropped to 1,913, a level that historically corresponds to bear market phases, but at that time, the corresponding price was only $16,000-$20,000, while the current price is in the $67,000-$72,000 range. The current market state is neutral with a slight accumulation bias. The main risk is: if there is a lack of price catalysts, the market may enter a prolonged consolidation, in which case the rolling average SRR indicator will continue to decline."

Cryptanalysis expert PlanB posted on the X platform, stating that the current Bitcoin price remains in the $67,000 range, but the S2F model still predicts a potential rise to $500,000 during the 2024-2028 cycle.If the model's judgment is accurate, it means that the current price of Bitcoin is severely undervalued and could likely be a potential long-term buying opportunity. However, the market is also discussing whether the model has become invalid. PlanB simultaneously asked the community, "Will Bitcoin's future trend be bullish or a collapse?"

Cryptocurrency market analyst Axel Adler Jr. posted on social media: "Bitcoin is currently in the mid-stage of this cycle. The NUPL--MVRV harmonic composite indicator is at 0.33, while the bottoms in previous cycles typically occur close to -0.5.This indicator also shows that the cycle lows are gradually moving up, indicating that the extreme panic selling in the market is diminishing. However, the indicator is still significantly above the historical bottom region, so the market has not yet confirmed a comprehensive capitulation sell-off."