Market Analysis:

The market on March 5th continued the framework of "oil rises, cryptocurrencies rise, gold falls" from yesterday, and after "inflation trading" replaced "safe-haven trading" as the main market logic, divergence has further intensified. From last night to this morning, cryptocurrencies experienced a violent surge after short positions were forced to cover, while gold, after a brief correction, stabilized and rebounded due to a weakening dollar.

Macro News:

1. As tensions in Iran persist and oil prices remain high, market confidence in the "digital energy" narrative has further increased. Short positions were forced to close after breaking through a key resistance level ($70,000), creating a short squeeze spiral. Bitcoin broke through to $74,064, marking its largest single-day gain since February 6;

2. In the past 24 hours, the total crypto liquidation amount across the network reached $592 million, mainly triggered by the rapid rise of BTC and ETH early this morning, which caused concentrated short liquidations, with over 128,000 traders liquidated. After the surge, a slight correction occurred, mainly due to profit-taking. In the short term, prices are still supported by crude oil, but caution is needed regarding oil pullbacks and dollar rebounds, which may suppress further sustained bullish momentum.

3. Gold briefly fell below $5,020 yesterday, plunging $233 overnight. After profit-taking was completed, oversold technical conditions triggered a rebound. As the dollar exchange rate pulled back and weakened, gold priced in dollars became cheaper for holders of other currencies, directly pushing the gold price to rebound from yesterday’s lows.

4. The decline in gold from last night to early morning is a short-term correction. The ongoing escalation of tensions in Iran continues to provide long-term safe-haven support for gold.

Trading Recommendations: Please inquire during the live session.

Special Reminder: Follow the trend in crypto trading, buy gold on dips, do not chase Bitcoin temporarily, and strictly control stop-losses.
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