1. Market Observation
Keywords: ETF, ETH, BTC
Bitcoin (BTC) has recently been in a consolidation phase, trading between $94,000 and $100,000, with market sentiment becoming cautious. Notably, the launch of the Grail Bridge testnet by BitcoinOS marks an important step for Bitcoin's versatility beyond payments. Despite the market's volatility, Real Vision CEO Raoul Pal remains optimistic about BTC, Ethereum, Solana, and Sui.
Regarding Ethereum (ETH), large holders have actively increased their positions during the recent market pullback, adding $2.5 billion in new holdings. After several weeks of Ethereum prices staying below $3,000, bullish signals seem to be emerging, suggesting that funds may be shifting from Solana. Meanwhile, a mysterious Chinese programmer made a multi-million dollar donation of ETH tokens and subsequently burned an equivalent amount, drawing market attention.
Currently, Bitcoin's dominance in the cryptocurrency market continues to rise, while macroeconomic uncertainty has led to poor performance from other altcoins. The Texas Senate is considering establishing a strategic Bitcoin reserve to diversify the state's cash reserves. It is noteworthy that, amid increasing uncertainty and differing analyst opinions on Bitcoin's price direction, short leverage positions exceed long positions by $120 million, indicating a potentially bearish trend in the short term.
In the ETF market, institutional investors control over a quarter of the total assets in Bitcoin ETFs. While there has been an overall outflow of funds from Bitcoin and Ethereum ETFs, BlackRock's IBIT ETF has seen inflows. Additionally, JPMorgan holds over a million dollars in Bitcoin and Ethereum ETF shares. It is worth mentioning that Bitcoin supporter Michael Saylor has released a guide titled "21 Rules of Bitcoin," providing in-depth insights into the adoption, ownership, and ideology of digital currencies.
2. Key Data (as of February 19, 10:00 HKT)
S&P 500: 6,129.58 points (YTD +4.22%)
Nasdaq: 20,041.26 points (YTD +3.78%)
10-Year U.S. Treasury Yield: 4.552% (YTD -2.50 basis points)
U.S. Dollar Index: 107.07 (YTD -1.30%)
Bitcoin: $95,461 (YTD +2.17%), daily spot trading volume of $38.42 billion
Ethereum: $2,671.62 (YTD -20.12%), daily spot trading volume of $24.10 billion
3. ETF Flows (February 18 EST)
Bitcoin ETF: -$123.1 million
Ethereum ETF: +$4.6 million
4. Important Dates (HKT)
Initial Jobless Claims (February 20, 21:30)
- Actual: To be announced / Previous: 213,000 / Expected: 215,000
Federal Reserve Meeting Minutes (February 20, 03:30)
5. Hot News
Galaxy: The LIBRA "Runaway" Incident Further Diminishes Investor Demand for SOL
Charles Schwab Establishes a Digital Asset Chief Position to Expand Cryptocurrency Services
Google is Exploring Using "Google Login" to Access Bitcoin Wallets
Crypto Supporter Howard Lutnick Approved by Senate as U.S. Secretary of Commerce
Kraken Completes First Fund Distribution for FTX Estate, Compensating Over 46,000 Creditors
Bankless Ventures Announces Launch of Second Fund, Targeting $50 Million
Bubblemaps: A Trader Turns $1.09 Million into $109 Million by Trading Meme Coin TRUMP
DigitFT to Launch Tokenized Version of $6.3 Billion Invesco Fund
Bullish Obtains License for Virtual Asset Trading Platform in Hong Kong
K33 Research: Bitcoin Market in "Slump" Since U.S. Elections
U.S. SEC Confirms Receipt of Bitwise's Spot XRP ETF Application
New Project Yield Basis by Curve Founder Raises $5 Million at $50 Million Token Valuation
LIBRA Token Co-Founder Hayden Davis Claims He Bribed the Sister of the Argentine President
Strategy Announces $2 Billion Convertible Bond Issuance to Support Future Bitcoin Purchases
U.S. SEC Seeks Public Feedback on Approving Grayscale and Bitwise Ethereum ETF Options Trading
Next Round of FTX Repayment Distribution to Begin on May 30
Coinbase International to Launch EURC Perpetual Contracts
Grayscale Announces Launch of Grayscale $PYTH Trust
Robinhood Plans to Launch Cryptocurrency Products in Singapore by 2025
KernelDAO to Conduct $KERNEL Token TGE in February
Market News: LIBRA Team in Talks with Nigerian Government to Launch Meme Coin
Institutional Investors Hold 25.4% of Assets Managed by Spot Bitcoin ETFs, Totaling $26.8 Billion
Argentine President: Did Not Promote LIBRA, Just Shared Information About It
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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