On March 5, 2026, from 15:00 to 15:15 (UTC), the ETH price experienced a sharp short-term drop, with a return rate of -1.42% within 15 minutes. The price ranged from 2083.78 to 2121.84 USDT, with an amplitude of 1.80%. Market sentiment was clearly volatile during this period, with attention rapidly increasing, forming a strong contrast to the general rise of mainstream coins. The main driver of this anomaly was the concentrated liquidation of leveraged long positions in the derivatives market. The price correction triggered forced liquidations of longs worth between 600M and 900M USD, and automatic sell-off chains intensified short-term selling pressure, causing the price to drop quickly.

A strategist at TD Securities stated that if the U.S. non-farm payroll report does not show significant weakness, it will not affect the dollar. They believe the market will focus on the Middle East conflict and its impact on the Federal Reserve's rate-cutting ability, rather than employment data. If oil prices remain high, the dollar should stay strong.

Bitcoin fluctuates above $72,000, while Ethereum rises slightly. The market experiences consolidation; despite Bitcoin successfully breaking through the $70,000 mark, it has not quickly surged toward $80,000. In the context of easing tensions in the Middle East, risk assets are boosted. Derivatives data shows bullish sentiment remains strong, but gold-linked token futures contracts decline, indicating capital flowing into cryptocurrencies. In the options market, demand for high-strike call options increases, and overall volatility remains stable.

Wyoming State purchased shares in the Bitcoin reserve company Strive Inc., becoming one of the few U.S. state governments directly holding Bitcoin. The state owns approximately 7,580 shares of Strive Class A common stock, valued at about $111,000, reflecting its policy stance in support of crypto innovation. Strive currently holds about 13,132 Bitcoins, with strong market performance.

QFEX on-chain contract trading platform completes $9.5 million seed round financing, led by General Catalyst, with participation from many well-known institutions. The platform aims to provide ordinary investors with the opportunity to compete with institutions, supporting 24/7 high-leverage trading with up to 50x leverage, backed by a strong team.

Analyst Owen Lau pointed out that the cryptocurrency market is experiencing a strong rally, especially with Bitcoin breaking through $73,000, related to improved U.S. regulatory environment and active institutional investors. Increased regulatory transparency attracts institutional investment, and crypto assets are gradually integrating into the mainstream financial system. Despite high market volatility, if the trend continues, it may signal the early stages of a recovery, offering long-term investment opportunities. Investors should pay attention to policy developments and capital inflows.

As the activity of XRP futures and perpetual contracts trading increases, the open interest approaches $2.23 billion. The rise in leveraged trading has led to concentrated liquidations of short positions, especially during rapid price increases, requiring traders to add margin. Analysis indicates that increased market volatility reflects a strong battle over the future price direction.

Odaily Planet Daily News: On Tuesday Eastern Time, Bridgewater Associates founder Ray Dalio once again publicly expressed his strong optimism about gold. He stated that there is a clear winner in the competition between gold and Bitcoin — gold. He emphasized that gold's position is irreplaceable. Dalio recommends that individuals allocate 5% to 15% of their investment portfolios in gold to diversify risk during disasters. (Jin10)

Goldman Sachs is bullish amid market turbulence, viewing recent pullbacks as buying opportunities rather than the start of a bear market, due to optimistic expectations for the resumption of traffic through the Strait of Hormuz. Despite risk factors, economic resilience and strong corporate earnings will limit the depth and duration of the pullback.

ChainCatcher Message, Strategy Founder and Executive Chairman Michael Saylor posted on the X platform stating that Strategy has strong purchasing power, and its Bitcoin buying potential exceeds the amount available for sale in the market.