1. Market Observation
Keywords: DeepSeek, ETH, BTC
Recently, the cryptocurrency market has been dynamic, with the Ethereum Foundation launching its first DeFi project, transferring $165 million worth of ETH to a multi-signature wallet. Institutional participation continues to rise, with publicly listed companies like Tesla, MicroStrategy, and Coinbase becoming major buyers of Bitcoin. Notably, Grayscale and CoinShares have submitted regulatory filings to launch ETFs tracking XRP, Litecoin, and Solana, while Nasdaq has also applied to the SEC for permission to allow physical transfers of the iShares Bitcoin Trust. Despite the Trump administration investigating the possibility of establishing a national digital asset reserve, Bitcoin's price remains around $105,264. Robert Kiyosaki, author of "Rich Dad Poor Dad," reiterated that Bitcoin is superior to the dollar, labeling the former as "good money" and the latter as "bad money."
Market data shows that whale accounts have accumulated 200,000 BTC over the past month, which may signal a new round of price increases. This is particularly significant considering that $7.8 billion worth of Bitcoin options will expire at the end of this month, potentially increasing market volatility. Meanwhile, as large investors acquire $3.7 billion worth of ETH, the market widely believes that Ethereum breaking through $7,000 is "inevitable." MicroStrategy continues to execute its Bitcoin accumulation strategy, with co-founder Michael Saylor releasing the 12th Bitcoin tracking report. It is worth mentioning that Binance's former CEO, Zhao Changpeng (CZ), revealed that he first purchased Bitcoin in early 2014 when the price was around $600.
Attention is drawn to new breakthroughs in the tech sector, as AI company DeepSeek has sparked discussions online with its outstanding performance, successfully topping the Apple US free app download chart. However, US tech stocks have shown weak performance, with the semiconductor sector generally declining in after-hours trading, where industry leader Nvidia fell over 5%, TSMC dropped nearly 5%, Broadcom fell over 3%, and AMD declined nearly 2%, which may have a ripple effect on the cryptocurrency market.
In terms of market expectations, analysts predict that Ethereum against Bitcoin could rise by 378%. Surveys show that 47.8% of respondents expect BTC to continue rising this week, while 49.3% anticipate that the XRP ETF will be approved first. Meanwhile, crypto investment firm Paradigm calls for Ethereum to accelerate its update cycle to remain competitive. As Bitcoin stabilizes above $100,000, the application scope of cryptocurrencies is also expanding, with Russia's largest energy supplier Rosseti and Brazil's state oil company announcing plans to launch Bitcoin mining operations. Despite short-term pullbacks, the overall market outlook remains optimistic.
2. Key Data (as of January 24, 09:34 HKT)
S&P 500: 6101.24 points (year-to-date +3.73%)
Nasdaq: 19,954.30 points (year-to-date +3.33%)
10-Year US Treasury Yield: 4.591% (year-to-date +1.0 basis points)
US Dollar Index: 107.645 (year-to-date -0.77%)
Bitcoin: $101,692 (year-to-date +8.69%), daily spot trading volume of $27.033 billion
Ethereum: $3,193.44 (year-to-date -4.42%), daily spot trading volume of $19.219 billion
3. ETF Flows (January 24 EST)
Bitcoin ETF: +$518 million
Ethereum ETF: +$9.18 million
4. Important Dates (HKT)
A-shares and Hong Kong stocks will be closed from January 28 to February 4.
Federal Reserve FOMC to announce interest rate decision (January 30, 3:00).
Federal Reserve Chairman Powell to hold a monetary policy press conference (January 30, 3:30).
European Central Bank to announce interest rate decision (January 30, 21:15).
US GDP annualized quarter-on-quarter preliminary value (January 30, 21:30).
- Actual: To be announced / Previous: 3.10% / Expected: 2.70%
US Personal Consumption Expenditures (PCE) annualized quarter-on-quarter preliminary value (January 30, 21:30).
- Actual: To be announced / Previous: 3.70% / Expected: 3.10%
US December Core PCE Price Index year-on-year (January 31, 21:30).
- Actual: To be announced / Previous: 2.80% / Expected: Not displayed
5. Hot News
This Week's Preview | Abstract Mainnet Launch; Sui (SUI) to Unlock Tokens Worth Over $260 Million
Russia's Largest Energy Supplier Rosseti to Launch Cryptocurrency Mining Operations
DeepSeek Surpasses ChatGPT, Tops Apple US Free App Download Chart
CZ Reveals First Bitcoin Purchase Was in Early 2014 at Around $600
Jupiter Announces 3 Billion JUP Tokens Have Been Burned
Jupiter: 50% of Protocol Fees Will Be Used to Buy Back JUP
THORChain: Launching a 90-Day Restructuring Plan, Suspending THORFi Lending and Savings Redemptions
Pudgy Penguins CEO: Abstract Mainnet Will Launch on Monday
"Breaking Bad" Actor Dean Norris's X Account Hacked Again to Promote Fake Tokens
Survey: 47.8% of Respondents Expect BTC to Rise This Week, 49.3% Expect XRP ETF to Be Approved First
xAI's GROK Now Supports Real-Time Display of Stock and Cryptocurrency Prices
CZ: 40% of Respondents Have Never Purchased BNB, Only 21% Have Never Purchased Meme Coins
OKX to Launch VINE (Vine Coin) Spot Trading
Dennis Porter Calls for Tax-Free Policy for $200 Small Crypto Transactions
Eric Trump Confirms US Domestic Crypto Projects Will Enjoy Zero Capital Gains Tax
$7.8 Billion Worth of Bitcoin Options Set to Expire at the End of This Month
Musk Exploring Use of Blockchain Technology to Improve US Government Efficiency
JupiterDAO: Jupiter Launches Omnichain Network "Jupnet"
Nasdaq Applies to SEC for Permission to Allow Physical Transfers of iShares Bitcoin Trust
Coinbase International to Launch TOSHI, GIGA, and GRT Perpetual Contract Trading
Supported by OSL - Hong Kong's largest over-the-counter trading platform, continuously providing regulated digital asset services to the market since 2018.
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