Bitcoin hit a new high, breaking through $97,000, and its market share also climbed to a three-year peak. Under Trump's leadership, the pro-crypto team sees Bitcoin as the core of the crypto strategy. As the compliance environment of the crypto industry becomes clearer, a variety of compliant investment channels are attracting more and more investors' attention.
Crypto stocks lead gains, while altcoins lag
Bitcoin continues to attract liquidity on and off the market, with its market share climbing to 61.6%, a new high in recent years. In contrast, the overall performance of altcoins was weak, with only BTC, SOL and XRP among the top ten crypto assets recording gains. This phenomenon is mainly attributed to the fact that the liquidity of existing compliance investment channels is concentrated in Bitcoin and related assets, resulting in a significant diversion of liquidity in the altcoin market.
At the same time, the exchange rate of Ethereum, the second largest asset in the crypto market, against Bitcoin fell to 0.03217, a three-year low. Its sluggish performance has also triggered doubts in the Chinese community about Ethereum and its operating model. As of press time, the price of Ethereum is $3,125, and has been hovering around the $3,000 mark recently, showing a long-term sideways trend.
The market's polarization trend is particularly evident in MEME-related fields. Taking the head MEME token of the Solana ecosystem as an example, its average daily decline is between 5% and 10%, reflecting the obvious tendency of funds to flow back to mainstream assets.
Off-market, the massive influx of funds is driving the price of Bitcoin to climb steadily. Eric Balchunas, senior ETF analyst at Bloomberg, pointed out that the trading volume of stocks in the Bitcoin ecosystem has reached $50 billion, close to the average daily trading volume of the entire UK stock market. Among them, MicroStrategy (MSTR) contributed $32 billion, while MSTU and MSTX (MSTR's two leveraged ETFs) totaled $6 billion, surpassing the total trading volume of all spot Bitcoin ETFs. Compared with spot ETFs, investors seem to prefer trading stocks of companies related to Bitcoin, and MSTR's stock price also hit a record high of $504.83, with a market value of over $100 billion, and a single-day trading volume that surpassed Tesla, second only to Nvidia.
As a representative of crypto assets in the U.S. stock market, MSTR has made frequent moves recently, including plans to sell $2.6 billion worth of notes and use the proceeds to buy Bitcoin. Currently, MicroStrategy's holdings have achieved floating profits of more than $15.5 billion.
In the ETF space, net inflows have exceeded $9 billion in the past two months, showing traders’ strong confidence in Bitcoin prices, especially after Trump’s election, which further solidified confidence in the crypto market.
Can the bull market continue?
Ki Young Ju, founder of CryptoQuant, believes that there is still a lot of room for Bitcoin's subsequent bull market. For example, the bull-bear index has recently turned positive. At the same time, the accumulation of whales on the chain is also increasing, similar to the situation in 2020. He pointed out that with the arrival of the halving cycle and the entry of institutional funds, liquidity will provide support for future trends.
Crypto compliance sentiment still needs to be implemented
This week, traders are closely watching Trump's appointments of Treasury Secretary and Chairman of the U.S. Securities and Exchange Commission (SEC). According to sources, the Trump team is considering establishing the first crypto-related position within the government, which has injected new impetus for institutions to enter the crypto field.
Currently, the hot candidates for the SEC chairman include Goody Guillén, who has worked in blockchain law at a law firm. The Trump team hopes to find a leader who understands the industry and is cautious about the application of securities laws to digital assets until Congress passes clear legislation. In addition, Trump nominated Howard Lutnick, CEO of Cantor Fitzgerald, as the new Secretary of Commerce. The company recently announced the launch of a $2 billion Bitcoin leveraged financing business, reflecting that the Trump team's position in the encryption field is shifting towards integration.
In terms of legislation, despite the growing calls for digital asset regulation within the U.S. Congress, progress in actually promoting a specific policy framework remains limited. In May of this year, the U.S. House of Representatives passed the 21st Century Financial Innovation and Technology Act (FIT21), which aims to provide federal guidelines for the digital asset industry. However, the bill still faces further coordination and cooperation between the Senate and the executive branch. With the Trump administration taking office, we expect crypto compliance to be truly implemented and provide a clearer direction for the industry.
Club Target Review
TOP.1
Last Saturday, the club discovered the DeSci concept and selected three iconic targets, among which RIF soared 10 times after the recommendation, URO also increased 9 times, while WORM's performance was relatively flat.
However, the founder of BitMEX just tweeted a direct order for WORM, pushing it to an instant high of 0.08659, which is twice the price recommended by the club at 0.0244.
What’s even more exciting is that WORM also announced that it will distribute 2.4% of the project wallet to $WORM holders, which means they can really make money while eating.
Join the club and don't miss out on this meme craze!
TOP.2
EYE is the currency that the club has been developing.
At the very beginning, after BAN came out of the circle, the club discovered the EYE target, which is also a collectible concept, on the chain, and regarded it as the second dragon of the collectible concept and has been holding it firmly.
Just after Binance announced the launch of BAN contracts, EYE's short-term linkage increase was 400%, quadrupled, and directly went to zero.
Join the club and ambush more doubling memes!
TOP.3
Driven by PNUT, the entire meme sector has seen an increase. Since the raccoon coin FRED was first deployed at a price of 0.04, it has now risen to 0.26, a nearly 6-fold increase; similarly, the eye coin EYE, which was 0.0004, has soared to 0.0062, an 18-fold increase; BAN has risen from the prompt position of 0.041 to 0.21, also a nearly 6-fold return. Hot projects are performing steadily, and the opportunity for continued profitability should not be missed!
TOP.4
The most eye-catching one today is the squirrel coin PNUT mentioned by Lao Ma, which has nearly doubled in price. At the same time, Fred, another pet of the squirrel owner, also entered the market at around 0.04 after research, and its current market value is close to 1 billion US dollars.
TOP.5
TOP.6
TOP.7
WLFI
The results of the US election have been announced, and Trump has successfully won the election. He may be the most supportive president of cryptocurrencies at present. In the foreseeable future, the crypto market will reach a new height.
After Trump takes office, projects in the crypto and DeFi ecosystem will receive more strategic and policy support. In the market, we have seen that UNI, AAVE, LDO, etc. have taken the lead in starting an upward trend after Trump announced his victory.
In the DeFi ecosystem, the one that is closest to Trump's concept is the DeFi project supported by Trump himself - WLFI. The project has unique resources and has also raised funds for Trump during his campaign. After Trump officially takes office next year, Trump's promises to the crypto industry will begin to be fulfilled one by one, and WLFI will be the first project to benefit.
Currently, a whitelist is required for the subscription of WLFI. The club will come up with a batch of project whitelists and give them to club members as benefits.
Here, everyone is welcome to join the club (homepage introduction) and obtain the WLFI whitelist on a first-come, first-served basis.
