Recently, the cryptocurrency circle of friends has been flooded with a new regulation, which is the "Interpretation of the Supreme People's Court and the Supreme People's Procuratorate on Several Issues Concerning the Application of Law in Handling Criminal Cases of Money Laundering"

In short, this is a new regulation jointly issued by the Supreme People's Court and the Procuratorate to combat money laundering crimes. This new regulation has 13 articles, with the focus on comprehensively combating money laundering crimes.

In particular, Article 5 explicitly includes "virtual asset transactions" as a catch-all clause for money laundering crimes.

According to Article 13 of the Interpretation, the new regulations will come into effect on August 20, 2024.

After the "Interpretation" was officially implemented, it attracted widespread attention, especially the provisions on virtual currency.

After the promulgation of the two high courts and one law, the criteria for determining "serious circumstances" of money laundering crimes were clarified, and we need to pay special attention to the issue of withdrawals.

Previously, the biggest risk of withdrawing cryptocurrencies was freezing your card or confiscating your funds.
But now, not only will your bank card be frozen, you may also be convicted of money laundering.
After the new regulations are introduced, the following two aspects need special attention regarding the issue of deposits and withdrawals: the first is the obligation to guard against funds during the withdrawal process, and the second is the importance of the transaction contract.

1. How do we identify black money? How do we prevent receiving black money?

In the past two days, market sentiment and liquidity have slightly warmed up, with Bitcoin reaching a high of $106,450 yesterday.

From the perspective of capital inflow, there is new capital entering the cryptocurrency market.

USDC has been increasing its issuance recently, and these funds have been transferred to exchanges like Coinbase.

Yesterday, Bitcoin spot ETF also saw a net inflow of $580 million, and Ethereum spot ETF had a net inflow of $68 million, indicating that U.S. investors are continuously entering the market to buy the dip.

It's worth noting that the SEC has officially approved the Bitwise Bitcoin and Ethereum combination ETF.

This fund now allows simultaneous holding of both spot Bitcoin and Ethereum.

During the Spring Festival, the crypto market as a whole remained relatively calm, with Bitcoin fluctuating around $100,000 and Ethereum around $3,155.
Although the emergence of Deepseek previously impacted traditional AI, it has little effect on the crypto market.
Currently, the market trend hasn't changed much; it still remains in a general upward oscillation.
Wall Street used to think that the crypto market was just an enlarged version of the U.S. stock market.
But now they are slowly starting to accept that crypto has developed its own market, especially since the U.S. has begun to legislate specifically for cryptocurrencies.
There is actually a pattern to refer to: historically, the United States has focused on supporting some key industries, such as railroads, highways, energy, aerospace, and the internet, which have now become the pillars of their economy.

Some people ask, what major events have happened in the past two days? Why did Bitcoin pull back again?
This pullback in Bitcoin is primarily influenced by the US stock market.
Yesterday, there was a risk aversion sentiment in the US stock market, which led to a pullback in the cryptocurrency market as well.
US CNBC did something quite rare yesterday; they extensively reported on a domestic AI project, DeepSeek.

They also publicly questioned on the program whether the emergence of free and open-source AI models like DeepSeek, which reduces costs to 1/30 of the original, could cause a seismic shift in the entire AI industry.
So what exactly is DeepSeek?

Today, the market is still in a trend of sideways fluctuation.
Bitcoin is fluctuating around $104,000, and Ethereum is fluctuating around $3,300.
During the weekend, institutions are not working, and market liquidity may further decrease.
Some are asking why there were so many positive news yesterday, yet Bitcoin did not rise?
Many people wonder if there aren't enough favorable factors, which is why there hasn't been a significant rise; but that's not the case.
Although many favorable bills for cryptocurrencies were passed yesterday, it will still take time for them to take effect.
Take the case of the U.S. wanting to list Bitcoin as a strategic reserve; it's unrealistic to expect the new Congress to pass this in three months.

Yesterday, there were many significant positive news in the crypto market.
First of all, Trump issued an executive order on cryptocurrencies, proposing a federal regulatory framework, and will assess the establishment of a national strategic Bitcoin reserve.
In simple terms, it is about researching how to establish and maintain a national-level Bitcoin reserve.
He even plans to keep all the Bitcoins previously confiscated by the government through law enforcement actions without selling any.
At the time, Trump suggested at the 2024 Bitcoin Consensus Conference that the U.S. government should not sell any confiscated Bitcoins but use them as strategic reserves.

The market has been trending sideways for the past few days.
Bitcoin is fluctuating around $103,000, while Ethereum is fluctuating around $3,250.
Most altcoins are adjusting along with the market, but the AI proxy sectors ai16z, aixbt, and buzz have shown counter-trend increases, indicating that funds and attention have returned to this sector.
The recent rise in the AI sector is likely related to Trump's announcement of significant investments in AI.
SoftBank, Oracle, and OpenAI have announced a partnership to establish a newly formed company called 'Stargate'.

Plans to invest $500 billion over the next four years to build new AI infrastructure for OpenAI in the U.S.

Yesterday, Trump did not mention cryptocurrency during his inauguration speech, which caused the market sentiment to decline a bit.
After Bitcoin's price hit a new high yesterday, it began to fluctuate at a high of $101,800, while Ethereum also fluctuated around $3,250.
Among altcoins, President Trump's MEME coin Trump has started to pull back, while the AI agent sector has begun to rebound.

This indicates that after the hype of presidential coins subsided, market funds and attention returned to the AI agent sector, which may continue to be the market focus for some time.
We can pay more attention to strong projects with good resistance and quick rebounds, because the strong will always be strong in any market condition.

The crypto market has been very busy these days.
The MEME coin Trump issued by Trump has increased by more than 400 times, causing the market's FOMO sentiment to be ignited again.
We doubled our capital in this project yesterday. We can keep the profit and continue running it, waiting patiently for the next opportunity.
This morning, Trump's wife Melania also announced the launch of her own MEME coin: MELANIA.

The market value of this project once peaked at over 14 billion U.S. dollars, but has now fallen back to around 7 billion U.S. dollars.
It can be seen that the liquidity of the market is now insufficient and altcoins are being severely drained.

Today, Bitcoin's price reached a recent high, hitting $102,148.
From the spot ETF data, yesterday the U.S. Bitcoin spot ETF had a net inflow of $620 million, while the Ethereum spot ETF had a net inflow of $166 million, indicating that U.S. investors have started buying again.

There are 3 days left until Trump takes office, and everyone is looking forward to what he will say on the 19th, 20th, and 21st.
The 19th is Trump's last major speech before the transfer of power, the 20th is his inauguration day, and on the 21st, everyone expects him to announce some executive issues.

Affected by market sentiment, Bitcoin has once again broken through 100,000 dollars, reaching a peak of 100,866 dollars.
Ethereum has also returned to 3,400 dollars.
The overall rise of altcoins is around 20%, with the AI agent sector performing the strongest.

This rise is mainly due to the market's positive expectations for the aftermath of Trump's power transition.
In 4 days, Trump will deliver his inaugural speech.
Before the power transition, if Bitcoin's price can stay high, then the possibility of Bitcoin breaking new highs after the transition will be higher.
Because the more solid the price foundation, the more pronounced the FOMO sentiment will be when good news emerges, and investors' buying power will be stronger.

Due to risk aversion, the cryptocurrency market experienced a significant pullback last night.
Bitcoin once fell to 89256 USD, but today it has returned to fluctuate above 95000 USD.
Ethereum also dipped to 2920 USD yesterday, but has now returned to fluctuate around 3170 USD.
I reminded everyone yesterday that the latest CPI data will be released this Wednesday, and the market will show some risk aversion.
There may be fluctuations with spikes up and down in the short term; those who enjoy trading contracts must be careful.
In the past 24 hours, the market has faced liquidation of 751 million USD, with long positions liquidating 538 million and short positions liquidating 213 million.

The institutions are off work during the weekend, so market liquidity is relatively low.
Bitcoin fluctuates around $94,200, while Ethereum fluctuates around $3,260.
Next, we can pay attention to the trends after the U.S. stock market opens tonight, as well as the CPI data to be released this Wednesday; these will influence short-term price trends and market sentiment.

This CPI data is the last important data point before the presidential transition, and similar to the previous employment data, Biden may also want to present a satisfactory report card to prove his success during his term.
According to this logic, the CPI data may be below expectations or in line with expectations, so I don't think this CPI data will have a significant impact on the market.

Yesterday, the United States released the latest non-farm employment data, which showed that the number of jobs exceeded market expectations significantly, and the unemployment rate was also lower than expected.
Although this is not very favorable for interest rate cuts, it is good news for the U.S. economy, indicating that the risk of economic recession has decreased.
The market had long anticipated that the employment data would be strong, so there was some risk aversion on Wednesday and Thursday, and Bitcoin also fell for several days in a row.

So after the release of this data, the crypto market did not drop much.
Bitcoin is currently fluctuating around 94,200 USD, while Ethereum is fluctuating around 3,250 USD.

In recent days, the market has been experiencing fluctuations. Bitcoin is oscillating around $93,400, while Ethereum is oscillating around $3,340.
Most altcoins are following the market's fluctuations, with an average decline of around 10%.
From the market sentiment perspective, the fear and greed index has dropped to 43, indicating that people's sentiment is relatively low and bearish voices are increasing.

However, I don't think we need to worry too much; the long-term uptrend is still there.
Currently, there are two main trends in the market: one is a shift from monetary tightening to monetary easing.
This is already an ongoing matter; it’s just a matter of time.

The market has overall been pulling back these days; bitcoin dipped to $92,500 yesterday and is currently fluctuating around $94,300.
Ethereum has also returned to $3,300, and altcoins are generally down more than 10%.
Many people are asking, is the bull market still on? Is now a good time to bottom-fish?
I believe the bull market is still on; I am bottom-fishing in batches myself.
This drop was mainly due to the sharp decline in U.S. stocks.
The latest data released by the U.S. indicates that the economy is stronger than market expectations, which has intensified concerns about inflation rebounding, and U.S. Treasury yields have soared again.

Affected by the sharp drop in the U.S. stock market, bitcoin has also retraced to $95,000, and Ethereum has retraced to $3,300.
Some are asking, why did the market suddenly drop?
This market pullback is mainly due to the impact of the U.S. stock market.
Yesterday, the Nasdaq index fell sharply, which also dragged down the cryptocurrency market.

As soon as U.S. institutions and investors start working, market liquidity begins to gradually recover.
Next, the cryptocurrency market may begin to correlate with the U.S. stock market, so we need to pay more attention to the trends in the U.S. stock market.
The reason for the drop in the U.S. stock market is that the U.S. released some very strong economic data, causing market expectations for a rate cut by the Federal Reserve before July to weaken.

Today, the crypto market has welcomed another wave of increases, with Bitcoin climbing back to 99,000 USD and Ethereum reaching 3,670 USD.
However, the market's liquidity is still relatively low, and the turnover rate is not high.
Mainly, short-term investors are trading frequently, while early investors have been relatively quiet over the weekend.
Tomorrow, US institutions and investors will end their Christmas holidays, and market liquidity may gradually recover.
From the data, the current turnover rate has dropped to bear market levels. This situation has occurred many times before the election, but it has rarely happened after the election.

The crypto market has picked up a bit in the past two days.
BTC returned to 98,200 US dollars and ETH fluctuated at 3,600 US dollars.
SOL also rose to US$217, and the average increase in altcoins was around 10%.
It is worth noting that the possibility of SOL spot ETF being approved is increasing, so you can pay attention to the time node of January 25th.
On the prediction platform Polymarket, the probability of SOL spot ETF passing has risen to 86%.
This may mean that someone knew some news in advance and got ahead of the game, which is one of the reasons why SOL has been performing strongly recently.
Recently our member group has also been continuously buying SOL at the bottom to see if there will be any surprises later.