The current price trend of Bitcoin is highly similar to the mid-cycle heights of the 2015-2018 market cycle.
Author: Deep Tide TechFlow
Yesterday's Market Dynamics
U.S. SEC officially withdraws SAB 121, which hindered banks from custodying cryptocurrencies
The U.S. Securities and Exchange Commission (SEC) released SAB 122, officially withdrawing SAB 121, which previously obstructed banks from custodying cryptocurrencies.
Cynthia Lummis, chair of the Senate Banking Committee's Digital Assets Subcommittee and proposer of the "Bitcoin Strategic Reserve Act," welcomed this move, stating that SAB 121 had a catastrophic impact on the banking industry and hindered innovation.
SAB 121 was a guidance issued by the SEC in 2022, requiring SEC-regulated entities to record cryptocurrency assets on their balance sheets and disclose risks.
Cynthia Lummis: Looking forward to advancing digital asset legislation to strengthen the dollar's position through strategic Bitcoin reserves
U.S. Senator Cynthia Lummis announced her role as chair of the Senate Banking Committee's Digital Assets Subcommittee.
She stated, "Digital assets are the future. If the U.S. wants to maintain its global leadership in financial innovation, Congress urgently needs to pass bipartisan legislation to establish a comprehensive legal framework for digital assets and strengthen the dollar through strategic Bitcoin reserves. I am honored that many colleagues trust me to chair the Senate Banking Committee's Digital Assets Subcommittee, and I look forward to pushing bipartisan legislation to President Trump’s desk this year to ensure our financial future."
Truth Terminal announces the establishment of a foundation, recently completed an OTC transaction of FARTCOIN
Truth Terminal founder Andy Ayrey announced the establishment of the Truth Terminal Foundation, responsible for managing the project's intellectual property and wallet assets. The foundation completed an OTC transaction of FARTCOIN tokens on January 21, with the counterparty committing to responsibly hold these tokens without exerting selling pressure on the market. A portion of the transaction proceeds will be used to increase holdings of GOAT tokens to thank the community for promoting decentralized AI development. The foundation currently holds about 0.5% of the GOAT supply and plans to hold it long-term.
Ayrey stated that the foundation was established to ensure the independence of Truth Terminal, and this structure is seen as a temporary solution, with the ultimate goal of becoming a fully autonomous entity. The foundation currently has sufficient funds to support team recruitment, grant distribution, and the purchase of GPUs and other equipment, with a focus on building a sustainable council structure to support project self-improvement in the future.
Pump.fun founder: Not the creator of the alon token, only took over the TG group six months ago and paid Dexscreener fees
Pump.fun founder alon clarified in a post regarding community concerns about his relationship with the similarly named alon token.
Alon stated that in the environment of decentralized asset creation, personal tokens will become a common phenomenon. He is not the creator of the alon token and does not recommend investors purchase it; he only took over the Telegram group for the token six months ago and paid the related Dexscreener fees.
He added that it was surprising that the token had not attracted much attention in recent months.
Trump signs cryptocurrency executive order, establishes digital asset working group, and explores the creation of a national digital asset reserve
According to Fortune, U.S. President Trump signed an executive order on cryptocurrency, establishing a position to support the development of digital assets and blockchain technology. The order includes several important initiatives:
Establishment of the "Presidential Digital Asset Market Working Group":
Chaired by AI and cryptocurrency special advisor David Sacks, with members including senior officials such as the chairs of the SEC and CFTC, the main responsibility is to assess existing cryptocurrency regulations and develop a regulatory framework to support industry development;
Exploration of the establishment of a national digital asset reserve:
Researching and formulating standards for reserve establishment, considering the use of cryptocurrencies legally seized during government enforcement actions;
Trump had previously publicly supported the establishment of a federal Bitcoin reserve to combat inflation;
Clear prohibition of CBDCs:
Prohibiting any government agency from issuing central bank digital currencies, believing that CBDCs could lead to "absolute control" of personal funds by the government;
Support for stablecoins as a cross-border payment solution;
Abolition of Biden-era policies:
Abolishing the cryptocurrency regulatory order signed by Biden in 2022.
CZ transforms Binance Labs into family office YZi Labs, managing approximately $10 billion
According to Bloomberg, former Binance CEO Changpeng Zhao (CZ), with a net worth of about $70 billion, announced the renaming of Binance Labs to YZi Labs and its transformation into a family office.
It is reported that YZi Labs currently manages approximately $10 billion in crypto-related assets. Former Binance Labs founding head Ella Zhang will return to manage the institution. Additionally, YZi Labs will also manage the assets of Binance co-founder Yi He.
Glassnode: Bitcoin's trend is similar to the mid-cycle of the 2015-2018 period, suggesting a sustained growth trend
According to The Block, Glassnode data shows that Bitcoin's current price trend is highly similar to the mid-cycle of the 2015-2018 market cycle. The data indicates that Bitcoin has risen about 630% from the cycle low of $15,000 in 2022, which is close to the 562% increase during the same period of the 2015-2018 cycle.
Bitget analysts speculate that if the 2015-2018 cycle's increase is repeated, Bitcoin could theoretically reach $1.7 million. However, Bitget Wallet COO Alvin Kan emphasized that the current market environment has fundamentally changed, with factors such as increased institutional adoption, clearer regulations, and advancements in blockchain technology all influencing Bitcoin's trend. RedStone Oracles COO Marcin Mazmierczak also pointed out that today's market environment is vastly different from the past, with ETFs, a mature DeFi ecosystem, and more developed market infrastructure being significant distinctions.
Crypto czar David Sacks: TRUMP coin falls under collectibles, not worried about potential conflicts of interest
Newly appointed cryptocurrency special advisor David Sacks detailed the three main focuses of the digital asset working group in an interview with Fox Business News: establishing market structure and clarifying digital asset classifications, expanding the dollar's dominance through stablecoins, and assessing the national digital asset reserve plan.
Regarding concerns about potential conflicts of interest arising from the TRUMP coin, Sacks stated that the token is similar to collectibles like baseball cards, and there is no cause for concern. He emphasized his opposition to CBDCs, support for the development of stablecoins, and noted that expanding the digital dominance of the dollar could create trillions of dollars in demand for U.S. Treasury bonds, helping to support debt and lower long-term interest rates. Regarding the digital asset reserve plan, Sacks stated that it is still in the evaluation stage and no final decision has been made.
Trump: I will demand an immediate reduction in interest rates
While attending the Davos Forum online, U.S. President Trump stated that he would push for several domestic and foreign policies, including demanding that Saudi Arabia increase its investment in the U.S. to $1 trillion and asking Saudi Arabia and OPEC to lower oil prices. Additionally, he promised to ensure the security of U.S. energy supplies, ensure the supply of liquefied natural gas to Europe, and expressed concerns about recent lawsuits against American companies like Apple and Google, calling these lawsuits a form of hidden taxation.
On international affairs, Trump emphasized that the EU's tariffs and trade policies are unfavorable to the U.S., demanding that the EU quickly address the trade deficit issue and calling on NATO member countries to increase defense spending to 5% of GDP. At the same time, he announced that he would promote a peace agreement between Russia and Ukraine and work towards stability and security in the Middle East.
Trump also proposed a series of domestic policies, including demanding an immediate reduction in interest rates, defining U.S. policy to recognize only two genders, and promising that the government would no longer label citizens' speech as false or misleading information. He stated that U.S. border actions have already begun, with the military deployed to assist in "repelling invasions," and firmly stated that he would not allow U.S. territory to be violated.
Binance Alpha adds VINE, BUZZ, and BID
The app page shows that Binance Alpha has added VINE, BUZZ, and BID.
Market Dynamics
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