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Analysis: Despite the positive news from Wall Street, BTC still falls below $70,000, as macro factors suppress the rebound in the crypto market
Despite several positive developments for the cryptocurrency industry this week, such as Morgan Stanley choosing BNY Mellon as the custodian for its spot Bitcoin ETF exposure, Kraken being approved for access to the Federal Reserve's payment system, and OKX receiving a $25 billion valuation from ICE, Bitcoin briefly approached $74,000 before falling back below $69,000, with the total market capitalization evaporating by approximately $110 billion.
Market analysis suggests that macro factors such as a stronger dollar, rising oil prices, and changes in interest rate expectations are suppressing the performance of risk assets, preventing the crypto market from maintaining its upward momentum. On-chain data shows that short-term holders transferred over 27,000 BTC (approximately $1.8 billion) to exchanges to take profits when the price was close to $74,000, exacerbating short-term selling pressure. Despite the short-term bearish trend, there are some positive signals in the funding landscape, as the U.S. spot Bitcoin ETF recorded a net inflow of approximately $787 million last week, marking the first positive inflow since mid-January of this year, indicating that some institutional funds are refocusing on the crypto market.
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WEEX P2P update: Country/region restrictions for ad posting
To improve ad security and matching accuracy, WEEX P2P now allows advertisers to restrict who can trade with their ads based on country or region. Advertisers can select preferred counterparty locations for a safer, smoother trading experience.
I. Overview
When publishing P2P ads, advertisers can now set the following:
Allow only counterparties from selected countries or regions to trade with your ads.
With this feature, you can:
Target specific user groups more precisely.Reduce cross-region trading risks.Improve order matching quality.
II. Applicable scenarios
The following are some common scenarios:
Restrict payment methods: Limit orders to users in your country using supported local banks or wallets.Risk control: Avoid trading with users from high-risk regions.Operational strategy: Tailor ads to specific markets.
III. How to get started
On the ad posting page, find "Trading requirements":
Select "Trade with users from selected countries or regions only".Then select the countries or regions to add to the allowlist.Use the search box to quickly find a country or region.Once your settings are complete, submit the ad to apply the restrictions.
When an advertiser enables the "Country/Region Restriction" feature, users who do not meet the criteria will be blocked when placing an order and will see the following prompt:
If you encounter this issue when placing an order as a regular user, try the following solutions.
Choose another ad: Select ads that do not restrict your country/region, or ads that allow users from your location.Show local ads only: Prioritize ads available in the same country as your identity verification.
IV. Benefits
Compared with ads without country/region restrictions, this feature provides the following improvements.
Aspect
Improvement
Trading security
Reduces abnormal orders and fraud risk
Conversion efficiency
Matches ads with more relevant users
Order completion rate
Reduces failures caused by incompatible payment methods
V. FAQ
Q1: Why are some users not able to place orders on my ad?
A1: Their country or region may not be included in your allowlist.
Q2: Can I select multiple countries or regions when setting the restriction?
A2: Yes, multiple selections are supported.
Q3: Can I edit my published ads?
A3: Yes. You can edit your ad in the "My Ads" list. Changes will take effect immediately after saving.
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