A lot has changed in a few days. After listening to the speeches of many central bank and Fed officials on the timing of rate cuts, and the further escalation of risks brought by geopolitical conflicts, risk markets were hit by a sudden chill. Speaking of safe investment transfers, BTC (disappointingly) failed to hold on to its "digital gold" narrative.

Arbitrum earned $2.3 billion and became the biggest winner.

Briefly unanchored, growth turned around... USDe encountered its first stress test.

随着其主网推出的全面运营，将有必要密切监视EigenLayer是否会为以太坊带来一些人期待的新DeFi Summer。

EigenLayer将于4月16日取消所有LST代币的存款限额。

在减半事件即将到来之际，BTC ETF 净流入放缓，实际波动也进一步缩减，远期 Future Yield 下行 0.4% -0.6% 左右。期权方面，隐含波动率再度下行 2-4% Vol。

This week, the popularity of MemeCoin and Base ecology will most likely continue; as the BTC halving approaches, coupled with the supply and demand interaction between ETFs and miners, and the continued profit-taking selling behavior, the market may once again be prompted to fluctuate significantly. .

In the past weeks market conditions, the prices of Bitcoin and Ethereum both fell back after rising on 4.8. The historical volatility and trading volume were both larger when the 4.8 rose and the CPI was announced, and the open interest did not change much. Implied volatility for BTC and ETH dropped from the beginning of the week. In addition, funding rates rebounded slightly from low levels, indicating that contract trading sentiment is gradually recovering. The market breadth indicator shows that the overall small currency market is still in a weak stage. In terms of events, after the release of CPI data on 4.10, the prices of mainstream currencies fell to a new short-term low and then rebounded. Bitcoin will be halved in the next week, and investors can pay close attention to the halving investment opportunities.

The market is facing unfriendly inflation data, especially Wednesdays CPI, and core prices are moving in an undesirable direction. The price of BTC has been hovering around 70,000. Since major currencies failed to break through significantly, some bulls have hedged and taken profits.

The on-chain interaction model is about to be revolutionized.

一个以太坊的集成Rollup层。

Pac Finance因突然更改LTV参数，致使2400万美元的资金遭遇清算。

In the long term, the return of liquidity in the future will steadily push up BTC prices.

BTC 回弹到 7 W 上方，长期震荡趋势仍在收缩区间之内，从期权上看，统计数据里反应出来的 IV/RV 波动敞口依然显著，前端隐含波动率在大量看涨期权的抛售下持续下行。

It is expected that liquidity re-hypothecation will be a winner-take-all market structure, and liquidity will bring more liquidity.

数字货币方面，昨日IBIT ETF买入流量恢复，与GBTC的流出量基本打平；币价上，BTC在7W下方维稳，震荡区间呈现收窄的趋势。