ChainThink reports that, starting Monday, March 17, the crypto market began a accelerated rebound, with Bitcoin and Ethereum reaching their highest levels since February 5. Amid uncertainty surrounding Iran’s situation and macroeconomic liquidity, this crypto rebound may be primarily technical. ChainThink reviews this market movement as follows:
This weekend, technical analysts led by Peter Brandt and Ali Charts率先 switched from bearish to bullish, strongly advocating for crypto. Since March 10, Peter Brandt has repeatedly shared charts suggesting a short-term rally for Bitcoin. Yesterday, he updated his view, stating that Ethereum has formed a "small daily bottom" at a key long-term historical support level, hinting that Ethereum could surge toward $2,600.
Ali Charts also issued a warning ahead of the market rebound. At 2:00 AM Beijing time on Monday, Ali Charts unusually stated that the current probability of a Bitcoin rebound is as high as 100%. Yesterday, he added his perspective on Ethereum, noting that Ethereum’s Super Trend indicator has turned from sell to buy for the first time since September last year. This signal previously appeared twice, during which Ethereum’s price rose by 52% and 174%, respectively.
Technical analysts are calling for buys, while Saylor, Tom Lee, and others are accelerating their accumulation. According to Monday’s announcement, Strategy significantly increased its holdings by 22,337 BTC last week, while Bitmine added 60,999 ETH—both showing clear acceleration.
However, it is worth noting that Garrett Jin, formerly a high-profile bullish advocate and agent of the "BTC OG insider whale," has become one of the few bearish voices in the current market. He has repeatedly expressed concerns that the situation in Iran could trigger a market crash. When asked about his views on the crypto market, Garrett Jin stated, "I currently lack sufficient confidence to enter a position. I am more inclined to trade other clearer investment opportunities at this time."