ZEROBASE (@zerobasezk): ZEROBASE Weekly 3/23~3/29

ZEROBASE Weekly 3/23~3/29 ZBT traded between $0.0661 and $0.0746 during the week. ZBT experienced positive volatility, opening the week near $0.0688 and closing around $0.0739 with good performance. Crypto derivatives market experienced notable volatility and deleveraging last week. Total Open Interest stabilized around $105–106B (slight weekly decline of ~0.4–0.6%), while 24h liquidations frequently spiked above $300M during the pullback, with longs bearing the brunt (long liquidations often 70%+ of daily totals). Funding rates turned mildly negative on major pairs like BTC/USDT, reflecting bearish sentiment. The crypto market surrendered the previous week’s advances as hawkish macro signals and lingering geopolitical risks weighed heavily: total market capitalization pulled back from roughly $2.51T peak to around $2.3T, while Bitcoin climbed briefly above $71K early in the week before retreating to the $66,000–66,800 zone by Sunday — an approximately 6–8% drop from its weekly high. ETH mirrored the move, declining roughly 5–7% to hover near $1,970–2,010. Economic releases continued to underscore sticky inflation and policy caution: fresh PCE and consumer sentiment data reinforced stagflation concerns, with the FOMC’s prior hawkish tilt (fewer rate cuts expected in 2026) still casting a shadow. Geopolitical uncertainty around Iran added further risk-off pressure. On the brighter side, crypto-specific tailwinds persisted — including the landmark SEC/CFTC joint statement classifying major assets (BTC, ETH, SOL, XRP etc.) as digital commodities and ongoing progress on stablecoin yield legislation. ETF flows flipped more negative: Bitcoin spot ETFs recorded net outflows of roughly -$268M for Mar 23–27 (early small inflows wiped out by heavy redemptions mid-to-late week), while Ether ETFs showed relatively resilient but still mixed performance. Overall, the week highlighted continued deleveraging in derivatives, with the market entering Extreme Fear territory. Classic risk-off rotation, but regulatory foundations remain solid for the medium term.