The crypto asset market peaks again, with Bitcoin surging to 10,000 dollars at midnight.

Recent market data shows that Bitcoin (BTC) has successfully broken through the 100,000 USDT barrier, currently priced at 100,026.2 USDT, with a 24-hour increase of 3.84%. This breakthrough performance not only highlights Bitcoin's market position as the leader in crypto assets but also further ignites investors' enthusiasm for the crypto asset market. Meanwhile, Ethereum (ETH) also did not lag behind, breaking through 200 USDT, currently priced at 200.1 USDT, with a 24-hour increase of 7.23%. The entire crypto asset market seems to have been injected with a dose of adrenaline.

In terms of market capitalization ranking, Ripple (XRP) has also made significant progress. Data shows that XRP's market value has surpassed 170 billion dollars, reaching 170.52 billion dollars, with a 24-hour increase of as much as 14.61%. With this excellent performance, XRP successfully entered the top 100 global asset market capitalization rankings, ranking 99th. This achievement not only reflects the increasing market recognition of XRP but also indicates that the crypto asset market is gradually maturing and diversifying.

The US stock market is actively responding to the cryptocurrency boom.

The US stock market also performed well. Late at night, the NASDAQ index increased by 2%, with star tech stocks, quantum computing, drones, robotics, space, nuclear energy, AI, and cryptocurrencies all surging. This wave of gains not only reflects the market's optimistic expectations for crypto assets and related technologies but also showcases investors' strong interest in innovative industries.

Notably, the unexpected cooling of the US core CPI data provides a possibility for the Federal Reserve to lower interest rates this year, undoubtedly injecting an extra stimulant into the market. Under the expectation of loose monetary policy, the crypto asset market is likely to receive more funding support, further driving price increases.

The construction of a regulatory framework has become the new focus of the crypto asset market.

As the cryptocurrency market thrives, the construction of regulatory frameworks has also become the focal point of market attention. Tim Scott, the newly elected Republican Senator and Chairman of the US Senate Banking Committee, announced that establishing a regulatory framework for crypto assets will become one of the top priorities of the 119th Congress. This news undoubtedly brings positive signals to the crypto asset market, indicating that in the future, crypto assets will operate in a more regulated and transparent environment.

Tim Scott stated that the Banking Committee will focus on financial inclusion policies that 'create opportunities for America' and will prioritize affordable housing, economic national security, regulation, and crypto assets. He emphasized that under the current chair Gensler's leadership, the SEC has refused to provide clear information to the cryptocurrency industry, forcing projects to move overseas. In the future, the committee will work to establish a regulatory framework tailored to facilitate the trading and custody of crypto assets.

Institutional predictions align with market dynamics.

On the institutional side, economists' predictions for December's core PCE inflation data align with market dynamics. Predictions indicate that December's core PCE price increase will be below 0.2%, keeping the core PCE inflation annual rate at 2.8%, the same as in November. These figures support the Federal Reserve's loosening of policies and create a favorable environment for the rise of the crypto asset market.

Meanwhile, asset management company VanEck has submitted an application to the US Securities and Exchange Commission for an 'On-Chain Economy' exchange-traded fund (ETF). The fund will invest in cryptocurrency companies across the industry, including software developers, mining companies, and cryptocurrency exchanges. This application not only reflects institutional optimism towards the crypto asset market but also provides investors with more channels to participate in the market.

The establishment of the North American Blockchain Association demonstrates industry cohesion.

At the regional level, blockchain associations from eight US states announced the establishment of the North American Blockchain Association (NABA). This organization aims to provide cohesive crypto policy recommendations to the federal government to promote the healthy development of the crypto asset industry. Members include the Texas Blockchain Council, Alabama Blockchain Alliance, and others. This initiative not only demonstrates the cohesion of the crypto asset industry but also provides strong support for industry self-regulation and oversight.

The share of crypto business on the German exchange is rising.

In the European market, the crypto business of the German Boerse Stuttgart exchange has accounted for 25% of its income. Although the exchange did not disclose specific cryptocurrency trading volumes, its performance in 2024 has set an all-time record. Bitcoin accounts for nearly 50% of the exchange's cryptocurrency revenue, further proving Bitcoin's market position and influence globally.

Cannes Mayor promotes cryptocurrency payments.

At the local level, Cannes Mayor David Lisnard is targeting the 2027 French presidential election by promoting the city to adopt cryptocurrency payments. He plans to make EthCC (Ethereum Community Conference) a central topic next summer and provide attendees with a 'crypto-friendly' merchant map. This initiative not only helps enhance Cannes' visibility in the crypto asset field but also offers merchants more payment options.

SEC cryptocurrency policy reform is imminent.

In market news, senior Republican officials at the US Securities and Exchange Commission are preparing to reform the agency's cryptocurrency policy upon the election of President Donald Trump. This news brings new uncertainties to the crypto asset market, but also indicates that future regulatory policies will be clearer and more transparent. Measures being considered by Commissioners Hester Peirce and Mark Uyeda include initiating relevant procedures to eventually develop guidance or rules to clarify under what circumstances the agency will classify cryptocurrencies as securities and reviewing some cryptocurrency enforcement cases currently in court.

NVIDIA's market value skyrockets, the rise of artificial intelligence.

In the tech stock sector, NVIDIA's market value has increased by 3 trillion dollars since ChatGPT ignited the AI frenzy. However, with competitors closing in and revenue growth slowing, NVIDIA's future still faces many challenges. Nevertheless, investor confidence in NVIDIA remains unwavering, as they bet that NVIDIA's market value will increase by several hundred billion dollars by 2025. This expectation not only reflects the market's recognition of NVIDIA's technological strength but also showcases investors' optimistic attitude towards crypto assets and related technologies.

It is evident that the cryptocurrency market is experiencing unprecedented development opportunities. With the gradual construction of regulatory frameworks, active institutional participation, and strengthened regional cooperation, the crypto asset market is expected to achieve more robust and sustainable development in the future.


Author: Tang Hua Banzhu
This article was first published on Binance Square.

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