ETH perpetual opening of 11.01 million pending orders, or guiding price direction, please pay close attention

Foresight News reported that Christine Kim, Vice President of Galaxy Research, summarized the 152nd Ethereum Core Developer Consensus (ACDC) conference call. This week, the developers have agreed on a new strategy for testing Pectra based on the progress of the Holesky and Sepolia upgrades; Developers will continue to work hard to restore Holesky to a stable state, which is expected to take approximately three weeks; In addition, developers will initiate a Holesky shadow fork, inheriting the exact same state and on chain environment as the original public test network.

According to Onchain Lens monitoring, a giant whale gained a floating profit of approximately $26 million through multiple short positions on Hyperliquid. The whale holds a total of 48 perpetual contract positions on HyperLiquid: 47 are short and 1 is long. Among these positions, only 3 are in a loss making state, while the remaining 45 positions are highly profitable. In addition, the whale also holds 23947 HYPE tokens (worth $386000) and 361250 other tokens (worth $31800) in the spot market.

Odaily Planet Daily reported that Alex Thorn, the research director of Galaxy Digital, stated in an article on X: "We believe that the current maximum balance of Bitcoin available for the US government to use as a strategic reserve is 88000 BTC, which only accounts for 43% of the current government holdings. This is because of the approximately 198000 BTC currently held by the US government, 112000 BTC will be returned to Bitfinex Odaily note: The large amount of BTC held by the US government comes from the investigation of the Bitfinex theft case, which occurred in August 2016 and resulted in a loss of approximately 120000 BTC. Bitfinex is currently attempting to recover this portion of BTC, and it is expected that lengthy legal procedures will be required in the future.

According to Cointelegraph, blockchain data platform Santiment stated in an X post released on March 5th that its social sentiment tracker found that traders were more pessimistic about Ethereum compared to other major cryptocurrencies on social media channels such as X, Reddit, and Telegram, and the community's sentiment towards Ethereum hit a new low for the year. Santiment said, "For those who patiently hold Ethereum, the generally bearish sentiment on social media is a good sign of a potential turning point, and once the cryptocurrency market stabilizes, Ethereum may rebound Mike Cahill, CEO of Douro Labs, stated in an interview that while Ethereum's poor performance may lead to a decline in social sentiment, it is important to "separate short-term narratives from long-term fundamentals. He said, "Historically, extreme bearish sentiment often coincides with market bottoms because price movements often lead social sentiment rather than the opposite. If the cryptocurrency market stabilizes, Ethereum will be in a favorable position to benefit from new liquidity and sustained institutional interest

Odaily Planet Daily News: Data analysis company Santiment reports that Ethereum's social sentiment has hit a new low for the year, and its price performance lags behind other cryptocurrencies. Santiment stated in its analysis released on March 5th that this may actually be a positive signal of potential reversal. Douro Labs CEO Mike Cahill stated that if the cryptocurrency market stabilizes, Ethereum will be in a favorable position to benefit from the restored liquidity and continued institutional attention. Kronos Research analysts believe that extreme negative sentiment typically indicates a bottoming out of the market cycle, and Ethereum may be prepared for a significant rebound. （Cointelegraph）