Affected by macro risks and the strengthening US dollar, ROOT has experienced a significant short-term decline. The combination of a sluggish market and speculative capital shifting to on-chain prediction markets intensifies liquidity pressure. Currently, the price is approaching the 0.00011 USDT support level, and RSI has entered the oversold zone, indicating a potential technical rebound in the short term. Focus on the resistance area between 0.00013 and 0.00014 USDT. In the medium term, it is recommended to monitor the progress of ecological application implementation and ecosystem cooperation. If incremental capital continues to be diverted, the rebound will be limited, and portfolio allocation should be accompanied by strict risk controls.

Recently, rising global macro risks have driven the US dollar to continue strengthening, fueling risk-off sentiment and causing sharp pullbacks in Bitcoin and major crypto assets. As a small-cap token, ROOT has mirrored the downward pressure of mainstream assets, with its price dropping by over 20% since early February. The daily chart shows multiple days with long upper wicks, suggesting bullish attempts at reversal faced heavy selling. With overall market sentiment biased toward the bearish side, short-term selling pressure may persist.

In early February, global assets sharply declined due to concerns over Kevin Warsh's potential Fed chairmanship and escalating geopolitical risks, including tensions with Iran. The US dollar strengthened, causing precious metals and commodities to plunge, with gold and silver dropping significantly. Bitcoin fell below $75,000, nearing key support levels, while analysts warned of further declines but also potential short-term rebounds. Ethereum and altcoins also faced steep losses amid market uncertainty.

Trading Moment: Precious metals continue to plummet, BTC bulls hope to fill the $84,000 CME gap.

On February 2, market sentiment showed strong bearishness with negative funding rates across major cryptocurrencies. Meme coin MOLT surged 120% in 6 hours, reaching a $50 million market cap. The Federal Reserve's stance remains debated among institutions. CrossCurve's exploit was contained, freezing stolen EYWA tokens. Binance's $1 billion Bitcoin fund has yet to make purchases. US stock futures and indices face pressure, signaling potential larger downtrends.

Key Market Intelligence for February 2nd: How Much Did You Miss?

From the daily candlestick chart, ROOT started a one-sided decline after pulling back from the mid-January high, reaching as low as around 0.00011 USDT. Trading volume surged significantly at the start of the downtrend, then shrank as the price bottomed out. The Relative Strength Index (RSI) has fallen into the oversold zone, indicating that downward momentum may be exhausting. If market sentiment stabilizes, a short-term rebound is possible. Focus on the 0.00013-0.00014 USDT region as the first resistance, and watch the effectiveness of 0.00011 USDT as support.

Analyst Axel Adler Jr. highlights that the Bitcoin futures funding flow index has plummeted from around 50 to a critical low of 7.1%, indicating the market is in a "capitulation" phase and confirming a sustained bear market since January 28. The Bitcoin local stress index also peaked at 92.5 during recent sell-offs, signaling extreme market pressure. Together, these indicators suggest the market faces further downside risk before any potential stabilization.

Analyst: The index shows the market has entered a "capitulation" phase and still faces further downside risk.

Amid pressure on crypto assets, prediction market activity has risen against the trend, with users and funds flowing heavily into on-chain event betting, leading to the migration of some speculative capital. This diversion effect weakens liquidity support for small-cap tokens, making it harder for ROOT to attract incremental capital before market sentiment improves. In the medium to long term, if prediction markets continue to attract funds, it is important to monitor ROOT ecosystem projects' actual applications and partnership progress to assess whether it can regain market attention.

Despite extreme fear in the crypto market with limited Bitcoin rebound and weak altcoins, prediction markets are thriving, showing stable high activity driven by real-world events rather than crypto price fluctuations. Platforms like Polymarket and Opinion are gaining users and preparing token launches, with major sports events like the Super Bowl and upcoming World Cup fueling significant trading volumes, suggesting prediction markets may outperform traditional crypto trading during downturns.

The underestimated advantages of prediction markets: counter-trend, anti-volatility, always something to play with.

The Root Network

Crypto Market Remains Range-Bound; US Jobs Report Exceeds Expectations

Institutions: The stronger-than-expected rebound in March non-farm payrolls demonstrates the resilience of the US labor market, with inflation currently being the core variable in the Federal Reserve's monetary policy.

Huatai Securities: March Nonfarm Payroll Data Reflects Resilience of the US Job Market, Inflation Becomes the Core Variable in Fed Policy

Crypto traders fade 2026 Fed cuts as U.S. unemployment dips, but risk assets hold bid

The IMF calls on the Bank of Japan to continue raising interest rates.

The Federal Reserve expects to cut interest rates twice this year to support the labor market.

CICC: Investment demand and prices for gold may both have room for upward correction.

Stronger, broader hiring could ease Fed job market worries

Fed's Daly: The Federal Reserve should focus on the employment rate rather than employment data.

US military activity in Iran drives prediction market surge for troop presence

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