Gate News 消息，3 月 25 日，穩定幣初創公司 Payy 於去年 12 月完成 600 萬美元種子輪融資，由 FirstMark Capital 領投，Robot Ventures 和 DBA Crypto 參投。本輪融資採用附帶代幣認股權證的 SAFE 協議形式。至此，Payy 累計融資總額達到 800 萬美元。

Recent geopolitical tensions have led investors to sell gold and turn to Bitcoin, which offers price stability and attracts significant capital inflows. Data shows gold ETFs experienced outflows of $3.8 billion, while Bitcoin ETFs absorbed $2 billion. Analysts point out that despite short-term capital flow shifts changing market dynamics, Bitcoin and gold's characteristics as stores of value remain intact, and their performance requires long-term evaluation.

Gate News reports that on March 25, driven by a significant decline in oil prices and expectations of easing tensions in the Middle East, gold prices rebounded. Spot gold rose approximately 2.56% to $4,588 per ounce, while April delivery gold futures surged over 4% to $4,597.7.

Market sentiment is influenced by policy factors, with energy price volatility and Middle East risks coexisting, driving capital flows toward safe-haven assets. BTC exhibits liquidity-driven oscillatory movement, lacking conditions for trend continuation in the short term. We need to await unilateral breakthroughs in either energy or liquidity.

The text is already in Traditional Chinese. Returning unchanged: 美國散戶投資者在股票市場的參與熱度明顯下降，散戶交易量降到8.1%。他們正從高波動資產撤出，轉向避險資產如黃金ETF，顯示出防禦型配置需求上升。宏觀不確定性加劇使得散戶降低槓桿，轉向中長期策略，未來趨勢受市場波動影響。

伊朗警告援助美国軍方的機構可能成為攻擊目標，引發全球投資者擔憂，影響美國國債等安全資產的市場情緒。地緣政治風險可能導致債券收益率波動、利率變化及商品市場動盪，投資者需關注其長期影響。

On March 23rd, gold prices fell 2%, approaching $4,400, marking a new low since the end of 2025, with selling wiping out nearly all gains from early 2026. The Iran war and oil crisis are impacting gold price movements, with rising crude oil prices exacerbating inflation, central banks maintaining interest rates or even hiking them, and rising bond yields weakening gold's appeal, while a stronger dollar suppresses demand. Insufficient speculative momentum is accelerating the selloff, with the market showing clear disagreement on the outlook. $4,300 serves as a key support level; a break below could trigger accelerated selling. Analysts predict gold could potentially return above $5,000, but market risks and external impacts warrant caution.

On March 23, the Korean won depreciated against the US dollar to 1,511 won, reaching its lowest level since 2009, prompting investors to seek safe haven assets. In South Korea's crypto market, however, USDT experienced a rare discount, trading at approximately 0.5% below the US dollar spot rate. Geopolitical tensions and stock market selloffs have suppressed stablecoin demand, with the USDT discount reflecting heightened market risk-aversion sentiment.

On March 23, the gold market experienced a sharp selloff, marking the worst weekly performance since 1983, prompting investors to reassess safe-haven assets. Analysis indicates that the gold price decline stemmed from concentrated liquidations, with market drivers shifting toward liquidity prioritization. Rising bond yields also triggered cross-asset selloffs, as institutional investors began rotating toward private markets and digital assets. The gold decline reflects changing asset pricing mechanisms in a liquidity-dominated environment.

Bitcoin rebounded above $70,000 on March 20th, with a market cap of approximately $1.41 trillion, but gains were limited by declines in tech stocks and increased demand for safe-haven assets. Institutional capital outflows indicate slowing bitcoin demand, and investors need to monitor market dynamics to assess potential risks.