Bitfinex report: BTC enters a new fluctuation range of $85,000 to $92,000, and macroeconomic indicators do not indicate the market direction

Odaily Planet Daily News After Bitcoin briefly recovered the $90,000 mark last week, it has now entered a new range of fluctuations between $85,000 and $92,000, and uncertainty continues to hang over the market. Prices soared early last week amid speculation about the U.S. strategic bitcoin reserve and the White House cryptocurrency summit, but as the news was confirmed, traders took a "sell the news" approach and the market quickly erased the gains. The options market also exacerbated last week's volatility, with $3 billion worth of Bitcoin and Ethereum contracts expiring last Friday, further driving price fluctuations. Many traders suffered heavy losses last week, with actual losses for market participants reaching $818 million per day. February 28 and March 4 were among the largest single-day losses in this cycle, and current macroeconomic indicators do not indicate a clear direction for future market development. Meanwhile, the U.S. Securities and Exchange Commission's cryptocurrency working group will hold a roundtable on March 21 to clarify the security status of digital assets, suggesting that regulatory guidance will shift to a more structured approach. In Japan, the Liberal Democratic Party is implementing a tax reform that favors cryptocurrencies, reducing capital gains tax to 20% and classifying cryptocurrencies as a distinct asset class. The reform also proposes tax deferrals for swaps between cryptocurrencies and equal tax treatment for derivatives to encourage digital asset investment.