WealthEmpire

On-chain data suggests that panic sentiment in Bitcoin markets may have peaked, with increasing signs of bottom-hunting activity near the $80,000 level.Key Takeaways:Declining realized losses: The second major correction on March 10 resulted in fewer realized losses than the first drop on February 28, despite a deeper price decline.Investor accumulation at $80K: On-chain data from Coinbase shows an increase in active buy orders between March 7 and March 13, signalling strong U.S. investor interest.Market sentiment stabilizing: While Bitcoin's price has yet to reflect this shift, on-chain data suggests panic selling has subsided.Fed decision could trigger a rebound: The Federal Reserve’s interest rate announcement on March 20 and Jerome Powell’s speech may serve as a market catalyst.On-Chain Data Signals a Market ShiftAccording to Murphy, an on-chain data analyst, realized losses—including both on-chain losses and those transferred to exchanges—dropped significantly during the second sell-off wave on March 10. This indicates that despite a lower BTC price, fewer traders were selling at a loss, suggesting that panic-driven exits may have exhausted themselves.Meanwhile, buying activity on Coinbase surged during the March 7-13 correction, pointing to strong demand from U.S. investors at the $80,000 level.“The data is ahead of the price and reflects short-term market expectations, but the price has yet to clearly respond. The market may be waiting for a trigger,” Murphy explained.Federal Reserve Decision Could Spark a ReboundThe next major macroeconomic event is the Federal Reserve’s interest rate decision on March 20 at 2:00 AM UTC, followed by Chair Jerome Powell’s remarks.Market participants believe that as long as the Fed's stance is not more hawkish than expected, conditions are in place for a short-term Bitcoin rebound. However, whether this bounce will be weak or strong depends on how the market interprets the Fed's outlook.While BTC remains in a consolidation phase, on-chain accumulation suggests investors are positioning for a potential recovery.

According to BlockBeats, Nova Energy has received authorization to establish a natural gas-powered cryptocurrency mining data center in Frenchcreek, Pennsylvania. The approval includes the use of three lean-burn natural gas engines to supply electricity for cryptocurrency mining operations. A 2023 United Nations study indicates that natural gas accounts for 21% of global Bitcoin mining energy sources, ranking second to coal, which constitutes 45%.

According to PANews, Scroll announced on the X platform that it plans to upgrade to Stage 1 ZK-Rollup in April this year. This phase will support forced transactions, permissionless transaction submissions, and complete zkEVM proofs. Additionally, a security committee composed of industry experts will be established.

Previously, Ethereum co-founder Vitalik Buterin expressed his anticipation for more Layer 2 solutions to advance to Stage 1. He noted on the Fellowship of Ethereum Magicians message board that Stage 0 networks, which refer to themselves as Layer 2 or 'Rollup,' publish compressed versions of all transactions to Ethereum. In Stage 1, Ethereum's network smart contracts will include fraud-proof or validity-proof schemes to prevent developers from publishing invalid state roots. If developers attempt to fraudulently withdraw funds not belonging to them or block users from making legitimate withdrawals, such transactions would typically fail.

According to PANews, Scroll announced on the X platform that it plans to upgrade to Stage 1 ZK-Rollup in April this year. This phase will support forced transactions, permissionless transaction submissions, and complete zkEVM proofs. Additionally, a security committee composed of industry experts will be established.

Previously, Ethereum co-founder Vitalik Buterin expressed his anticipation for more Layer 2 solutions to advance to Stage 1. He noted on the Fellowship of Ethereum Magicians message board that Stage 0 networks, which refer to themselves as Layer 2 or 'Rollup,' publish compressed versions of all transactions to Ethereum. In Stage 1, Ethereum's network smart contracts will include fraud-proof or validity-proof schemes to prevent developers from publishing invalid state roots. If developers attempt to fraudulently withdraw funds not belonging to them or block users from making legitimate withdrawals, such transactions would typically fail.

According to PANews, Scroll announced on the X platform that it plans to upgrade to Stage 1 ZK-Rollup in April this year. This phase will support forced transactions, permissionless transaction submissions, and complete zkEVM proofs. Additionally, a security committee composed of industry experts will be established.

Previously, Ethereum co-founder Vitalik Buterin expressed his anticipation for more Layer 2 solutions to advance to Stage 1. He noted on the Fellowship of Ethereum Magicians message board that Stage 0 networks, which refer to themselves as Layer 2 or 'Rollup,' publish compressed versions of all transactions to Ethereum. In Stage 1, Ethereum's network smart contracts will include fraud-proof or validity-proof schemes to prevent developers from publishing invalid state roots. If developers attempt to fraudulently withdraw funds not belonging to them or block users from making legitimate withdrawals, such transactions would typically fail.