1. Two South Koreans were arrested for allegedly manipulating the price of $ACE tokens on Bithumb.
2. Matrixport: Bitcoin may perform strongly in 2025, but a correction may occur in 2026.
3. A man in Xiamen profited over 1.6 million yuan by stealing and selling his friend's virtual currency, and is currently being prosecuted for theft by the Huli District Prosecutor's Office, potentially facing over ten years in prison and fines.
4. The court previously approved FTX's Chapter 11 restructuring plan to take effect on January 3, 2025, setting today as the record date for the first distribution. BitGo and Kraken have been designated as FTX distribution partners to assist clients and creditors in the allocation of recovery funds. The first distribution is expected to be completed within 60 days of the effective date.
5. U.S. House Speaker Mike Johnson was re-elected as Speaker on the first day of the 119th Congress. Johnson previously supported the 21st Century Financial Innovation and Technology Act (FIT21) and opposed the Central Bank Digital Currency (CBDC) bill. His re-election, along with pro-crypto members like House Majority Whip Tom Emmer, is expected to promote the legislative process related to cryptocurrency in 2025.
6. The first 100 days of Trump's term are very important, and crypto investors will closely monitor several regulatory issues.
Investors will closely monitor any regulatory changes in 2025 and whether Trump's commitments to the crypto industry will be fulfilled. Fundstrat's head of digital assets, Sean Farrell, stated that the first 100 days of Trump's term will be very important and will be seen as a standard for assessing his efficiency and influence.
Market focus includes whether Trump will promote the establishment of a strategic Bitcoin reserve, clarify guidelines on which cryptocurrencies should be classified as securities, and potential changes to the SAB121 bill, which affects accounting standards for cryptocurrency custodial companies. Additionally, investors will also pay attention to whether the Federal Reserve will significantly lower policy rates in 2025, which could impact all risk assets.
7. Bitcoin's hash rate hit a historical high.
According to CoinWarz data, Bitcoin's hash rate (the total computational power protecting the Bitcoin network) reached a historical high of 1,000 EH/s on January 3, nearly double the network hash rate from 12 months ago.
CoinWarz data shows that in January 2024, Bitcoin's hash rate hovered around 510 EH/s.
As of now, Bitcoin's hash rate has dropped to about 780 EH/s
Midday view on January 4:
1. Bitcoin, expected range 98,800-97,300, expected to oscillate;
2. Altcoin, expected range 3,650-3,550, expected to oscillate;
Today is Saturday, and the usual volatility tends to decrease.
Last night, altcoins were active and rose sharply, and Bitcoin is expected to continue high volatility today;
Bitcoin barely followed the rise yesterday, reflecting that the closer it gets to the 100,000 mark, the heavier the pressure.
Therefore, today more attention can be paid to short-term opportunities in altcoins and tokens.
Bitcoin can focus on short-selling opportunities after seeing a surge.
Strategy - short at the high end and long at the low end of the range.
