March 20 Market Dynamics
I. Market Fundamentals
1. The market has plummeted sharply, and altcoins have also fallen significantly. Bitcoin ETFs saw net outflows, and the application for Ethereum ETFs was postponed. Historical experience shows that bull markets usually have 7 major pullbacks.
2. U.S stocks are indecisive, the possibility of the Federal Reserve cutting interest rates in June is small, and it is expected that the number of rate cuts will be reduced to two times. The Bank of Japan raised interest rates for the first time in 17 years.
II. Market Focus
1.The prices of public chains FTM, APT, SUI are rising. In Move series, APT and SUI mainly driven by SOL to rise; APT will unlock tokens worth $400 million on April 12th.
2.Educational project EDU's price rises; CZ stated that he would commit to public welfare education field in future.
3.Meme-type project BOME steadily climbs up; There's an increasing number of escapees on Solana chain; If Meme can't enter mainstream exchanges then it may gradually transition into a pvp cut-off mode.
4.In BTC ecosystem Merlin Chain released M-Token product which is a proof-of-stake asset mapping certificate capable of partially releasing its liquidity.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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Deutsche Bank: After the three major central banks hiked rates simultaneously, the market may once again underestimate the terminal interest rate
Deutsche Bank points out that as central banks in the US, Europe, and Japan are tightening policy simultaneously, the market may still be underpricing the eventual terminal rates. With oil prices remaining high, inflation may spill over into core inflation and wages. Moreover, financial conditions have not tightened in tandem, which could weaken the effect of rate hikes. Citing the experience of 2022, Deutsche Bank notes that the market then expected a total of around 200 basis points of Fed rate hikes in the first year, but the final figure exceeded 400 basis points, illustrating that the market often underestimates the terminal rate.
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