On March 23rd, Cardano (ADA) faced selling pressure, with prices retreating to $0.25, affected by the US-Iran conflict as market risk assets were liquidated. Futures contracts show shorts dominating, with technical indicators suggesting a breakdown below $0.22 could accelerate the downtrend. However, analysts identified buy signals, with ADA potentially maintaining above $0.23 potentially driving price increases. Meanwhile, the development team released Node 10.7.0, laying the groundwork for future upgrades, and Midnight privacy sidechain launching this week could bring growth potential.

On March 23rd, the Korean won fell to 1,511 won per US dollar against the dollar, marking its lowest level since 2009, driving investors to seek safe-haven assets. In South Korea's crypto market, however, USDT experienced a rare discount, trading at approximately 0.5% below the US dollar spot rate. Geopolitical tensions and stock market sell-offs have suppressed stablecoin demand, with USDT's discount reflecting intensifying risk-off sentiment in the market.

Y Combinator co-founder Paul Graham shared a conversation with OpenAI employees on the X platform, mentioning that purchasing rare items can hedge against AI risk, and pointing out that items from before 2028 will be more valuable, suggesting that AI will be able to replicate most items created by humans in the future.

U.S. spot Bitcoin ETF sees strong capital inflows again, with a net inflow of approximately $458 million in a single day, with BlackRock's Bitcoin ETF accounting for the majority. Despite retail investors' extreme panic, institutional investors continue to increase their allocations, indicating market divergence and potential confidence in Bitcoin among institutions. Various crypto asset ETFs also experienced capital inflows, reflecting rising market interest in institutional demand.

Bitcoin has recently experienced intense volatility, with the price dropping from $66,600 to $62,500 and then rebounding to $70,000, but it has currently fallen back to $66,000. Analysis indicates that selling pressure is not accidental but a continuation of cyclical adjustments, with bears holding the advantage. Although the MVRV Z-Score shows Bitcoin is undervalued, sentiment indicators have not bottomed out, and long-term holder data also indicate risks, potentially facing passive selling pressure.