Headlines
▌Arthur Hayes: Bitcoin will reach $250,000 by the end of 2025
Arthur Hayes, co-founder of BitMEX, predicted in a recent podcast that Bitcoin will reach $100,000 by the end of this year, and by the end of 2025, it may reach $250,000, while Dogecoin could reach $1. Additionally, he advises those experiencing a bull market for the first time to remain rational and cash out at appropriate times; if they always hold the mindset of 'I can earn more', it may ultimately lead to losing the wealth they already have.
▌Market leverage soars, Ethereum shorts hit an all-time high
The open interest for Ethereum futures has exceeded $20 billion, hitting a new high, highlighting the intensification of speculative activity. The rise in short positions indicates that more and more traders are betting on a decline in Ethereum's price. Meanwhile, the estimated leverage ratio (ELR) has peaked, reflecting a higher reliance on borrowed funds, which amplifies the likelihood of rapid liquidations.
Market trends
As of the time of writing, according to Coingecko data:
The recent trading price of BTC is $98,349.15, with an intraday fluctuation of -0.3%;
The recent trading price of ETH is $3,426.4, with an intraday fluctuation of +2.4%;
The recent trading price of BNB is $661.64, with an intraday fluctuation of +3.8%;
The recent trading price of SOL is $259.17, with an intraday fluctuation of +1.1%;
The recent trading price of DOGE is 0.4457 yuan, with an intraday fluctuation of +9.2%;
The recent trading price of XPR is $0.48, with an intraday fluctuation of -0.8%.
Policies
▌The China Securities Regulatory Commission has issued 8 financial industry standards, including the (Guidelines for Communication of General Infrastructure for Regional Equity Markets based on Blockchain)
According to the official website of the China Securities Regulatory Commission, the CSRC has issued 8 financial industry standards, including the (Guidelines for Communication of General Infrastructure for Regional Equity Markets based on Blockchain). The financial industry standard specifies the communication guidelines between the general financial infrastructure based on the dual-layer architecture of 'supervisory chain - local business chain' and the existing systems of regional equity markets. It clarifies the systems, main data objects, business scenarios, and operation instructions involved in six types of communication agreements, including user registration agreement, asset registration agreement, fund mapping agreement, asset mapping agreement, transfer management agreement, and settlement management agreement. The implementation of these standards is beneficial for fully leveraging the supporting role of the 'supervisory chain - local business chain' dual-layer blockchain architecture for existing business systems, promoting the transformation and integration of existing business systems.
▌Trump has appointed Scott Bessenet as the U.S. Secretary of the Treasury
Donald Trump has appointed Scott Bessenet as the U.S. Secretary of the Treasury. In a statement posted on his Truth Social platform, Trump said, 'Scott is widely respected as one of the world's leading international investors and a geopolitical and economic strategist. Scott's story is the American dream.'
Blockchain applications
▌Valour signs a memorandum of understanding with Singapore's digital asset exchange AsiaNext to list ETPs
DeFi Technologies' wholly-owned subsidiary Valour announced it has signed a memorandum of understanding with Singapore's licensed securities exchange AsiaNext to list ETP products on the exchange, which has previously received support from Japanese financial giant SBI Digital Asset Holdings and Switzerland's SIX Group. Valour plans to launch 20 new digital asset ETPs in the coming weeks, including Bitcoin staking and crypto index-based ETP products.
▌Web3 venture capital firm Theory Venture launches a new fund of $450 million
Theory Venture, a venture capital firm focused on early-stage investments in data, artificial intelligence, and Web3, announced that following the launch of its first fund of $238 million in April 2023, its second fund has completed fundraising of $450 million, further expanding support for innovators. The new fund will focus on three areas: data analytics, artificial intelligence as a new platform, and decentralized infrastructure as a database. It has already led a $16.5 million Series A financing for the enterprise-grade blockchain data platform Allium. Its founder, Tomasz Tunguz, stated that the rise of artificial intelligence and mainstream adoption of crypto and blockchain will bring transformative opportunities for startups.
Cryptocurrency
▌VanEck: Reiterates maintaining the Bitcoin target price of $180,000 unchanged
Asset management giant VanEck's latest report reiterates its price target of $180,000 for Bitcoin in this cycle, stating that, from key indicators, this rebound seems to have just begun. VanEck analyzed three key indicators: funding rates, Relative Unrealized Profit (RUP), and retail interest trends, noting: 1. Since November 12, the perpetual futures funding rate has remained above 10%, indicating a strengthening bullish momentum; 2. Additionally, the current 30-day moving average relative unrealized profit level is about 0.54, which usually indicates that the market will reach a peak over a longer period; 3. The search term popularity is only 34% of the May 2021 peak, indicating that speculative fervor has not yet spread, and the re-engagement of retail investors will leave more room for Bitcoin to rise further.
▌VanEck: The regulatory environment remains a decisive factor for Bitcoin's future
VanEck believes the regulatory environment remains a decisive factor for Bitcoin's future. The company expects the Trump administration to repeal restrictive measures such as the SEC accounting bulletins and support broader adoption by encouraging banks to provide cryptocurrency custody solutions. Additionally, legislation allowing state-chartered banks to issue stablecoins may enhance the U.S.'s dominant position in the digital asset ecosystem.
▌Mark Uyeda, the U.S. SEC chair nominee, calls for the establishment of a crypto 'regulatory sandbox'
Mark Uyeda, a commissioner of the U.S. SEC, advocated in an interview for the establishment of a 'regulatory sandbox' and 'safe harbor' to promote innovation in the crypto industry. He emphasized that the so-called 'war on cryptocurrency' should end and provide clearer regulatory guidance for the market. Uyeda is one of the potential nominees for SEC chair under the Trump administration, advocating for a comprehensive industry framework through cooperation between Congress, the White House, and regulatory agencies.
Important economic dynamics
▌Today's Fear and Greed Index is 93, remaining in the extreme greed level
Golden Finance reports that data shows today's Fear and Greed Index is 93, remaining in the extreme greed level. The panic index threshold is 0-100, including indicators: volatility (25%) + market trading volume (25%) + social media popularity (15%) + market surveys (15%) + Bitcoin's proportion in the entire market (10%) + Google trending analysis (10%).
Golden Encyclopedia
▌What is Dogwifhat (WIF)?
Dogwifhat, launched in November 2023, is a Solana-based memecoin featuring a Shiba Inu wearing a pink knitted hat. WIF does not position itself as a symbol of progress or a vision for the future but maintains simplicity, embracing its meme identity without any grand ambitions. Even the code 'WIF' is a misspelling of 'with', which is typical of meme forms, highlighting the token's playfulness.
Disclaimer: Golden Finance, as a blockchain news platform, publishes articles for informational reference only and does not constitute actual investment advice. Please establish a correct investment concept and be sure to enhance risk awareness.
