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 could reach $250,000 by the end of 2025, while Dogecoin may reach $1. He also advised those experiencing a bull market for the first time to stay rational and cash out at appropriate times, as always holding the mindset of 'I can earn more' could ultimately lead to losing the wealth already possessed.
▌Market leverage surges, Ethereum shorts hit all-time high
The open interest for Ethereum futures has exceeded $20 billion, setting a new record and 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 reached its peak, reflecting a higher degree of reliance on borrowed funds—this approach amplifies the potential for rapid liquidations.
Market Trends
As of press time, according to Coingecko data:
BTC recent transaction price is $98,349.15, daily price change -0.3%;
ETH recent transaction price is $3,426.4, daily price change +2.4%;
BNB recent transaction price is $661.64, daily price change +3.8%;
SOL recent transaction price is $259.17, daily price change +1.1%;
DOGE recent transaction price is 0.4457 yuan, daily price change +9.2%;
XPR recent transaction price is $0.48, daily price change -0.8%.
Policy
▌The China Securities Regulatory Commission has released 8 financial industry standards including the (Communication Guidelines for General Blockchain Infrastructure in Regional Equity Markets)
According to the official website of the China Securities Regulatory Commission, the CSRC has released 8 financial industry standards including the (Communication Guidelines for General Blockchain Infrastructure in Regional Equity Markets). The financial industry standard (Communication Guidelines for General Blockchain Infrastructure in Regional Equity Markets) specifies the communication guidelines between the general financial infrastructure based on the dual-layer architecture of 'regulatory chain-local business chain' and existing systems of regional equity markets, clarifying the systems, main data objects, business scenarios, and operational instructions involved in 6 types of communication agreements including user registration agreements, asset registration agreements, fund mapping agreements, asset mapping agreements, transfer management agreements, and settlement management agreements. The implementation of the standards is conducive to fully leveraging the supporting role of the 'regulatory chain-local business chain' dual-layer blockchain architecture for existing business systems and promoting the transformation and connection of existing business systems.
▌Trump has appointed Scott Basset as the U.S. Secretary of the Treasury
Donald Trump has appointed Scott Basset as the U.S. Secretary of the Treasury. Trump stated in a press release on his Truth Social platform, '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 that it has signed a memorandum of understanding with Singapore's licensed securities exchange AsiaNext to list ETP products on the exchange. AsiaNext 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 ETPs.
▌Web3 venture capital firm Theory Venture launches a new fund of $450 million
Venture capital firm Theory Venture, focused on early-stage investments in data, artificial intelligence, and Web3, announced that after launching its first $238 million fund in April 2023, its second fund has successfully raised $450 million, further expanding its 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-level blockchain data platform Allium, with its founder Tomasz Tunguz noting that the rise of artificial intelligence and the mainstream adoption of crypto and blockchain will bring transformative opportunities for startups.
Cryptocurrency
▌VanEck: Reiterates the Bitcoin price target of $180,000 remains unchanged
Asset management giant VanEck's latest report reaffirms the Bitcoin price target for this cycle at $180,000, stating that the current rebound seems to have only just begun according to key indicators. VanEck analyzed three key indicators: funding rates, relative unrealized profits (RUP), and retail interest trends, noting: 1. Since November 12, perpetual futures funding rates have remained above 10%, indicating strengthened bullish momentum; 2. Additionally, the current 30-day moving average of relative unrealized profit levels 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 peak in May 2021, indicating that speculative frenzy has not spread, and the re-engagement of retail investors will allow Bitcoin to have further room to rise.
▌Vaneck: Regulatory environment remains a decisive factor for Bitcoin's future
Vaneck believes that the regulatory environment will remain a decisive factor for Bitcoin's future. The company expects the Trump administration to repeal restrictive measures such as the SEC's accounting bulletins and to support broader adoption by encouraging banks to provide cryptocurrency custody solutions. Moreover, legislation allowing state banks to issue stablecoins may enhance the U.S.'s dominance in the digital asset ecosystem.
▌SEC chair candidate Mark Uyeda calls for the establishment of a cryptocurrency 'regulatory sandbox'
Mark Uyeda, a commissioner of the U.S. Securities and Exchange Commission (SEC), advocated for the establishment of a 'regulatory sandbox' and 'safe harbor' to promote innovation in the cryptocurrency industry during an interview. He emphasized the need to end the so-called 'war on cryptocurrency' and provide clearer regulatory guidance for the market. Uyeda is one of the potential SEC chair nominees for 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, still rated as extreme greed
Golden Finance reports that data shows today's Fear and Greed Index is 93, still rated as extreme greed. It is reported that the fear 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 overall market (10%) + Google Trends 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 rather 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 playful nature.
Disclaimer: Golden Finance, as a blockchain information platform, publishes articles for informational reference only and does not constitute actual investment advice. Please establish the correct investment philosophy and be sure to enhance risk awareness.
