Gate News reporting: On March 18, Coinglass data shows that the entire network liquidated $122 million in the past hour. Among them, long position liquidations amounted to $118 million, and short position liquidations amounted to $3.61 million. By coin type, ETH liquidations reached $54.45 million, BTC liquidations reached $48.87 million, with the two combined accounting for over 80% of total liquidations.

US stocks rose slightly driven by macroeconomic data and corporate earnings reports, with investors showing increased risk appetite for equity assets. Cryptocurrency-related stocks displayed divergent performance, particularly COIN and MSTR, whose trading characteristics are closely correlated with Bitcoin price fluctuations. Although US stocks showed overall strength with rapid capital inflows, crypto stocks will still exhibit high volatility if Bitcoin fails to establish a trending market movement.

Pi Network 的 Pi Coin 自 3 月 13 日上线主流 CEX 後，價格大幅回落逾 40%，當前約為 0.17 美元，主要因增量資金有限和拋售壓力增加。儘管技術升級在進行，市場關注點依然在實際應用落地上，而非短期價格波動。

3月18日，Coin Center致信美国SEC，呼吁优先制定系统性加密资产监管规则，以避免市场碎片化和不公平。信中指出，加密网络应视为公共基础设施。SEC近期发布了非证券加密资产的分类，并与CFTC签署谅解备忘录，旨在加强监管协调。Coin Center警示选择性监管可能影响市场公平性。美国国会正推进《CLARITY法案》，期望为数字资产合规提供明确路径。

A court in Zhangqiu District, Jinan, Shandong Province heard a virtual currency investment case, ruling that Liu's entrusted contract for investing in "Alpha Coin" was invalid because he participated in illegal financial activities, and losses must be borne by himself. The judge cautioned that virtual currency transactions are not protected by law.

TRUMP Coin因線下晚宴即將舉行，資金集中流入大戶，持有百萬元以上的地址增至83個，價格上漲36%。巨鯨參與推動價格，短期波動仍高企，但部分投資者選擇在高位拋售。分析師認為，價格若突破關鍵區間有望上攻，反之可能回調。

A certain crypto financial institution increased its long position in ETH by 6,000 coins when the price pulled back to around $2,300 per coin, bringing the total position value to $82.95 million with floating profits of approximately $9.4 million and a return rate of 169%. The institution is the largest ETH long on-chain, and its associated addresses also hold substantial amounts of ETH.

South Korean Police Agency Completes Virtual Asset Management Directive Draft, First Time Incorporating Privacy Coin Management and Clarifying Software Wallet Solutions. Over the Past 5 Years, Seized Virtual Assets Worth Approximately 54.5 Billion Korean Won; Police Plan to Select Private Custodian Institutions, Experts Recommend Establishing Government-Led Custodial System.

Gate News report states that on March 16, MicroStrategy purchased 22,337 bitcoins last week at an average price of $70,194 per coin, with a total value of approximately $1.5 billion.

Gate News report: On March 13, most cryptocurrency stocks in the U.S. market opened higher. Over the past 24 hours, MARA rose 8.5%, CIFR rose 7.7%, CRCL rose 5%, MSTR rose 3.9%, COIN rose 2.1%; BTGO fell 1.8%, GEMI fell 0.6%.