On March 9th, CryptoQuant research director Julio Moreno posted on X platform, saying that the reason for the decline in Bitcoin price is simply that the current growth in spot demand for Bitcoin is shrinking, while Bitcoin's short positions dominate the futures market.

US President Trump refuses to rule out the possibility that the US economy will shrink and enter a recession this year. He said his comprehensive economic agenda may cause short-term turbulence, but he believes it will drive future prosperity.

Jacob King, the founder of WhaleWire, posted on social media that the bear market for Bitcoin has arrived. The failure of Bitcoin's strategic reserve launch clearly indicates that, apart from confiscated bitcoins, there was never any intention to purchase any other assets. At the same time, the claim of institutional demand has collapsed, with record outflows of ETF funds as proof. All narratives have been shattered - every single one.

According to @ai_9684xtpa monitoring, the whale suspected of opening a position with 3223 US dollars in ETH two months ago is now selling off 2048 ETH (4.39 million US dollars), facing a potential loss of 2.21 million US dollars if sold. The ETH position from two months ago also ended with a loss of 35,000 US dollars.

The yield on the 10-year U.S. Treasury bond fell 6 basis points to 4.257%, and the 2-year Treasury bond yield fell 4 basis points to 3.9624%. 

The owner of the DOGE prototype Shiba Inu KABOSU posted on the X platform, "After being attacked by hackers, this may look suspicious, but it's true. Today, our family has added a new member, I named her "Kokoro", she is a girl. Like Neiro-chan, she is a 10-year-old rescue dog. From the first meeting, Neiro-chan and Kokoro-chan greeted each other, as intimate as old friends. It's surprising to see Iro-chan like this, as he took quite a long time to get used to other dogs. I believe that from now on these two cats will get along well, and of course the other three cats will happily spend their days together."

On March 8th, AB DAO announced that AB has been listed on Hotcoin exchange at 18:00 on March 8th (UTC+8), further expanding global trading channels and promoting the widespread application of AB in the Web3 field. AB will soon be listed on four other mainstream exchanges: Gate, BitMart, Lbank, and Biconomy, significantly enhancing AB's global liquidity and ecological influence.

The White House in the United States held a cryptocurrency summit for the first time on the 7th local time. Trump stated at the summit that the federal government of the United States will support the development of cryptocurrencies represented by Bitcoin and the digital asset market. U.S. media reported that Trump's policy shift may be due to the significant political donations provided by cryptocurrency investors during last year's U.S. election campaign, hoping that he would end the Biden administration's restrictive policies on cryptocurrencies after taking office. According to the Wall Street Journal, during last year's U.S. election campaign, the cryptocurrency industry provided over $130 million in political donations to candidates for both parties in the House and Senate who support cryptocurrencies through a super political action committee.

On March 8th, Zhu Su posted on X platform that the establishment of a strategic Bitcoin reserve in the United States sent an important signal, because for many years the biggest risk facing Bitcoin has been seen as a challenger to the US dollar, or seen as a protocol that facilitates "illegal" transfer of funds. The strategic Bitcoin reserve positions Bitcoin as a digital anonymous asset equivalent to gold, which will be recognized in the West and around the world. The US government does not need to accumulate millions of Bitcoins, it just needs to make Bitcoin the single coordination point for digital value storage.

XRP (XRP) is currently facing increasing technical and fundamental pressures that could potentially lead to a 20% price decline in the near future. Based on recent market analyses and historical patterns, investors should pay attention to three key signals. The XRP/USD price chart is showing a symmetrical triangle formation on the weekly chart, indicating a struggle between buyers and sellers. Contrary to popular belief, symmetrical triangles do not always result in bullish continuation patterns and can lead to significant declines. The recent White House Crypto Summit on March 7 caused XRP's price to drop as optimism faded about its inclusion in a US strategic crypto reserve, leading to a 10% decline in the XRP market. Additionally, Bitcoin is gaining favor from the Trump administration, with the US holding approximately $17.7 billion in BTC, while XRP remains in a historical distribution zone against BTC. XRP's trading volumes have surged to record levels, indicating a distribution phase where large holders are offloading positions to retail buyers after a major rally, similar to patterns seen in 2021. The decline in XRP whale holdings further reflects distribution, with whale balances dropping from 94.21 billion to 90.21 billion XRP in a year.