Bitcoin (BTC) briefly spiked to a nine-month high of $29,170 on Bitstamp on March 30, but quickly faced rejection and fell back to its starting point, leading traders to call it a "fakeout." Market participants remained cautious, and some traders referred to the move as a "deviation." Some traders noted that current trading volumes were at their lowest for 2023, potentially indicating a warning sign. Trading suite Decentrader noted that shorts currently had the upper hand, with short perps potentially profitable and being paid by longs to keep their positions open.

(By WILLIAM SUBERG)