Panic sentiment has peaked and subsided, with Bitcoin showing signs of a strong bounce around $80,000.

BlockBeats News, March 19th, On-chain data analyst Murphy released a chart analysis stating, "Looking at the scale of realized losses brought by the two downturns on February 28th and March 10th (including on-chain losses and losses to exchanges), the second wave was significantly smaller than the first wave. However, the second wave's downturn was deeper, yet did not result in more loss-making positions despite the lower price, indicating that after reaching a panic peak, the panic sentiment declined. At the same time, we also observed that during the retracement of the second wave, from March 7th to March 13th, there was an increase in active buy orders for BTC spot on Coinbase, indicating that U.S. investors are still interested in BTC around $80,000, showing a concentrated willingness to buy the dip. From these two aspects, the current panic sentiment has slowly eased, with data leading the price and reflecting some expectation for the short-term market. However, the price has not yet clearly reflected this change in sentiment, perhaps the market is waiting for a catalyst."

"From a macro perspective, the data released at 2 a.m. on the 20th by the Fed's interest rate meeting and Powell's subsequent speech may be this key point. As long as the situation is not unexpectedly bad, based on the current data, it is believed that the conditions for a short-term rebound are in place; as to whether it will be a weak rebound or a strong rebound, it depends on how the market interprets it. This information is for learning and communication purposes only and should not be considered investment advice."