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1. Trump's crypto strategic reserve plan triggers market volatility

President Trump announced the establishment of the U.S. Crypto Strategic Reserve, placing XRP, SOL, and ADA alongside BTC and ETH, a move that surprised the industry. The market initially surged due to the crypto reserve news, but Bitcoin subsequently fell by more than 10%, and Ether plummeted by over 15%, following Trump's announcement of new tariffs on imports from Canada, Mexico, and China, triggering risk-averse sentiment. - Original

2. The White House supports the repeal of cryptocurrency broker reporting rules

According to the (Administrative Policy Statement) released by the White House Office of Management and Budget (OMB), the U.S. government supports S.J. Res. 3, a bill initiated by Senator Ted Cruz and others, aimed at overturning the IRS's 'reporting rule on total revenue for digital asset sales brokers.' This rule was originally proposed by the Biden administration at the end of 2024, expanding the definition of 'broker' to cover software related to DeFi protocols and requiring some DeFi users to report total revenue from crypto transactions and taxpayer information. The White House believes this regulation improperly increases compliance burdens on U.S. DeFi businesses, hinders innovation, and raises privacy concerns. The statement clearly indicates that if S.J. Res. 3 is submitted to the president, senior advisors at the White House will recommend that the president sign the bill into law to repeal the IRS's related regulations. - Original

After the US stock market opened last night, Bitcoin plummeted, briefly falling below $83,000, with a fluctuation exceeding 13%. Major coins like ETH, XRP, and SOL also fell in tandem, with declines exceeding 14%. AiCoin data shows that over $630 million in positions in the contract market were liquidated, with multiple ten-million-dollar long positions being forced out.

Policy-driven actions cannot mask macro pressures; Bitcoin is once again linked to US stocks.

The recent spike and drop in Bitcoin, besides policy factors, are also influenced by deeper market conditions.

1. US stocks drag down the crypto market.

The US has officially imposed a 25% tariff on Canada and Mexico, raising global market concerns, with significant fluctuations in US stocks. The Nasdaq Index fluctuated over 770 points, the Dow Jones Index oscillated by 2.5%, and the S&P 500 Index dropped over 2.8% at one point. Due to the high correlation between Bitcoin and US stocks (especially tech stocks), the sharp fluctuations in US stocks directly affect the trends in the crypto market.

Recently, President Trump announced an ambitious plan: to include cryptocurrencies such as XRP, SOL, and ADA in the national strategic reserves and establish Bitcoin (BTC) and Ethereum (ETH) as core reserve assets. This move not only marks the U.S.'s comprehensive embrace of cryptocurrency but also highlights its determination to become the 'world's cryptocurrency capital.'

The Strategic Significance of Cryptocurrency: America's New Economic Engine

When announcing this plan, Trump emphasized that cryptocurrency is not just a technological innovation but an important driving force for the future economy. He pointed out that the global financial system is undergoing a profound transformation, and cryptocurrency is at the core of this transformation. By incorporating diverse cryptocurrencies such as XRP, SOL, and ADA into the national strategic reserves, the U.S. can not only enhance the resilience of its financial system but also occupy a more favorable position in the global economy.

1. Trump's crypto reserve plan may drive Bitcoin up.

Geoff Kendrick of Standard Chartered Bank pointed out that Trump's crypto reserve plan could provide long-term stability for Bitcoin, as investors' access to the asset continues to grow, making his $500,000 target a focal point of attention. Kendrick added that Trump's reserve announcement has eliminated the possibility of 'bad outcomes' and opened up space for the crypto market to start climbing. - Original

2. U.S. Congress establishes Crypto Caucus to promote legislation.

According to Eleanor Terrett, the House Republican leader and Congressman Ritchie Torres have jointly established the 'Congressional Crypto Caucus' to promote legislation favorable to the crypto industry and form a voting coalition in the House of Representatives supporting digital assets. - Original

One, When the 'DOGE Minister' Reaches for the Federal Treasury: The Origin Story of Musk's Power Games

"This is not a Mars colonization plan; it is blatant planet-scale arbitrage." Crypto community KOL @BitcoinSheriff's tweet on X platform received 230,000 likes. Since Musk became a special advisor for 'Government Efficiency Department' (DOGE) in the Trump administration in 2024, this billionaire, who heads SpaceX, Tesla, and the X platform, is transforming federal agencies with the logic of meme coins.

Internal documents circulating on Capitol Hill show that Musk's team proposed to cut NASA's budget by 37% for 'Starlink Militarization', requiring the FDA approval process to introduce a 'Dogecoin Mining Mechanism'—the proposal was rejected, and the next day, Tesla suddenly received a $4.8 billion satellite order from the Department of Defense. This 'policy market-making' behavior has even been commented on by The Wall Street Journal as 'turning government bidding into lightning-fast trading.'

This afternoon at 16:00 (UTC+8), AiCoin editor will discuss 'Trump's influence, should we follow?' As Trump's personal influence once again sparks heated discussion in the market, many investors are closely watching whether it will have a profound impact on market trends. The large transactions appearing in the market have intensified this uncertainty. The technical indicator of chip distribution is particularly important in this situation. By analyzing the accumulation and dispersion of chips, investors can better understand the behavior patterns of market participants and their expectations for future trends. Don't miss our live broadcast, get ahead of the market dynamics, and formulate your investment strategy! Welcome to make an appointment to watch~

1. Trump plans to establish a US crypto reserve

US President Donald Trump listed XRP, Solana (SOL), and Cardano (ADA) as three assets in a strategic crypto reserve on Sunday and revealed for the first time the possible form of this reserve. All news articles exclude Bitcoin (BTC) or Ethereum (ETH), the two largest digital assets by market capitalization. Trump announced the news on his social media platform, Truth Social. The post stated: "After years of corrupt attacks by the Biden administration, the US crypto reserve will elevate this key industry, which is why my digital asset executive order directs the presidential task force to advance a crypto strategic reserve including XRP, SOL, and ADA." "I will ensure that the US becomes the world crypto capital. We are making America great again!" This executive order was signed in January, directing his task force to assess a crypto reserve, but it did not explicitly request the US to directly create one. However, Trump has been discussing this idea since his 2024 presidential campaign. Senator Cynthia Lummis previously proposed a bill aimed at establishing a strategic Bitcoin reserve for the US and advocated for this idea starting from Bitcoin Nashville, where Trump also spoke. Legislative bodies in several US states have proposed bills to create their own cryptocurrency reserves, although these efforts have faced setbacks in several states. -Original

1. Trump will speak at the cryptocurrency summit.

U.S. President Donald Trump will speak to leaders in the cryptocurrency industry at the first cryptocurrency summit held at the White House on Friday. This summit comes at a time when the U.S. government is fully retracting its regulatory actions and investigations against cryptocurrency industry companies. Gemini co-founder Cameron Winklevoss stated that the end of the U.S. Securities and Exchange Commission's investigation into his company marks "another milestone in the end of the cryptocurrency war." - Original

2. Inflows into Bitcoin ETFs indicate signs of market recovery.

1. Trump is expected to give a speech or heighten market volatility

Odaily Planet Daily reports that U.S. President Donald Trump will give a speech later on Friday, and market volatility seems likely to continue to intensify. Griffin Ardern, head of options trading and research at crypto financial platform BloFin, stated: "Domestic policies in the U.S. are becoming unstable, and the White House seems willing to leverage this instability. Given the challenges investors face in obtaining accurate forward guidance, many prefer to hold low-volatility assets... Traders need to liquidate positions to reduce exposure to specific assets before turning to other markets, which explains the decline across almost all asset classes, including cryptocurrencies." - Original text

After 110 days, Bitcoin has returned to the 7,000s, Ethereum is precariously close to the $2000 support, and altcoins have collectively 'plunged'. Perhaps we are in the most dangerous phase of the bull market cycle.

BTC: May lose the bull-bear boundary.

8-hour level: Breaking below the Vegas channel long tunnel area, the MACD's bearish signal remains strong, and market selling pressure is evident. In the short term, prices may continue to decline.

Daily level: Currently breaking below the bull-bear boundary MA200. Although the RSI(6) has entered the oversold zone, the downward pressure has not been fully released, and the market has not yet bottomed.

3-day level: EMA52 is under strong pressure, and the MACD fast and slow lines are close to the zero axis. In the short term, it may continue to face pressure until new support is found.

In the early morning, crypto traders are staring at the economic calendar on the screen - that red-highlighted February 28th hangs over the digital asset market like the sword of Damocles. As Wall Street quietly patches up the argument for 'temporary inflation,' Bitcoin's on-chain data has already started to speak a new narrative language ahead of the PCE report. This is not an ordinary data disclosure, but another direct dialogue between the dollar system and the crypto ecosystem.

One, The Economic Thermometer's Anomaly: The Crypto Code of Jobless Claims Data

When the initial jobless claims data of 242,000 broke market expectations, traditional traders saw evidence of a cooling labor market, while crypto veterans sensed the prelude to alternative assets about to dance. This seemingly contradictory signal - rising unemployment but a historically low layoff rate - is like a subtle weight on the balance of the Federal Reserve's monetary policy.

The U.S. Securities and Exchange Commission (SEC) made a highly anticipated employee statement on Thursday, clearly stating that the much-discussed 'memecoin' should not be considered a security, but rather closer to the nature of collectibles. This statement not only provides new guidance for the regulatory direction of the cryptocurrency market but also marks a significant shift in the SEC's stance on the regulation of digital assets. As a bellwether for global financial markets, this decision quickly sparked widespread discussion both within and outside the industry.

Defining Memecoin: From Meme to Market Craze

In its statement, the SEC's Division of Corporation Finance defines memecoins as "a type of cryptocurrency inspired by internet memes, characters, current events, or trends, with the aim of attracting an enthusiastic online community to buy and engage in trading." This description accurately captures the core characteristics of memecoins—they are often closely tied to popular culture and are more a product of community sentiment and speculative enthusiasm than traditional financial instruments. For example, Dogecoin and various other meme-based tokens that have emerged in recent years often experience dramatic price fluctuations due to social media hype, but rarely have substantial technological functions or long-term value support.

1. SEC states memecoins are not securities

The U.S. Securities and Exchange Commission (SEC) has officially abandoned its regulation of memecoins. According to a staff statement released by the SEC's Division of Corporation Finance on Thursday, the federal securities regulator stated that memecoins are more like collectibles than securities. Memecoins are defined as "a type of crypto asset inspired by internet memes, characters, current events, or trends, which the initiators hope to attract an enthusiastic online community to purchase and trade." Because memecoins have "limited or no use or function," they do not meet the Howey test's definition of securities and thus fall outside the SEC's jurisdiction. The statement formalizes comments made by Commissioner Hester Peirce earlier this month during an interview with Bloomberg Television. Peirce is the head of the SEC's newly formed crypto working group, which has been at the forefront of the agency's shift in attitude toward crypto regulation since its establishment in January. In the interview, Peirce stated that “many” of the memecoins in the market are not under the SEC's jurisdiction. In the cryptocurrency regulatory roadmap published earlier this month, Peirce wrote, "If people want to buy tokens or products that lack a clear long-term value proposition, they should feel free, but they should not be surprised if the price drops one day." "In this country, people generally have the right to make their own decisions, but corresponding to that beautiful American freedom is the equally beautiful American expectation that people must make their own decisions rather than relying on the government to tell them what to do or not to do, nor should they expect to be rescued when they do something bad." Such legal interpretations by the securities regulator do not carry the weight of formal regulation, but industries subject to SEC and other federal regulators often closely monitor such staff statements. The infamous Staff Accounting Bulletin No. 121 (guidance provided by agency accountants, known as SAB 121) caused a stir in the cryptocurrency space, leaving bankers feeling constrained until the current leadership of the SEC removed the bulletin. In this case, a footnote in the staff memecoin statement notes that it "is not a rule, regulation, guidance, or statement approved by the Commission." Although Peirce clearly stated that American investors have the responsibility to conduct due diligence on the tokens they purchase, the SEC has not ruled out the possibility of intervening and using its enforcement powers in cases where memecoins are used to evade securities laws. "Despite the above provisions, this statement does not apply to the offering and sale of meme coins inconsistent with the description above, or products labeled as 'meme coins,' in an attempt to evade the applicability of federal securities laws by disguising products that would constitute securities," the staff statement said. "As noted above, the Division will evaluate the economic realities of specific transactions." - Original Text

Recently, Bank of America CEO Brian Moynihan revealed in an interview with the Economic Club of Washington, D.C. that the bank plans to launch a dollar-backed stablecoin, pending regulatory approval. This statement not only marks a significant shift in the attitude of the second-largest American bank toward cryptocurrencies but also suggests that, with the support of the Trump administration, Wall Street financial institutions are accelerating their embrace of digital assets.

From cautious observation to proactive layout

Bank of America has long maintained a low profile in the cryptocurrency space compared to peers like JPMorgan and Citigroup, which are actively experimenting with blockchain technology. Moynihan admitted that the bank has 'always played a secondary role' in the crypto industry. However, he clearly stated that once U.S. legislators pass relevant laws, Bank of America will quickly launch its own dollar stablecoin, tentatively named 'Bank of America Coin.' He likened the function of stablecoins to that of money market funds or bank accounts, emphasizing that their essence is a 'digital foreign currency' capable of seamless integration with traditional dollar deposits, enabling two-way flow of funds.

On February 27, 2025, cryptocurrency exchange Bybit released a forensic review of last week’s $1.5 billion hack, revealing the complexity of the attack and its impact on the cryptocurrency industry. This report will analyze in detail the details of the attack, the liability disputes among the parties involved, the background of the hacker group, and the current status of fund recovery.

Attack details and timeline

According to Bybit's official statement and reports from blockchain analysis companies, the attack took place on February 21, 2025, involving Bybit's Ethereum cold wallet. Cold wallets are usually stored offline and are intended to provide higher security, but hackers successfully induced Bybit employees to sign malicious transactions through social engineering. Chainalysis' report pointed out that the attacker targeted the cold wallet signer through phishing attacks, replaced Safe's multi-signature wallet implementation contract, and caused about 401,000 ETH (worth nearly $1.5 billion) to be transferred to the address controlled by the hacker.

At 16:00 this afternoon (UTC+8), AiCoin editors will discuss in [AiCoin - Group Chat - Live] "BTC has fallen badly, is the copycat going to "go crazy"?" In the market environment where Bitcoin continues to be sluggish, EMA is a powerful tool for investors to adjust their investment strategies. Enter the live broadcast room to teach you how to analyze the proportion of holders and EMA, so that you can better understand the market tone. Whether you are a novice or an old hand in cryptocurrency, this live broadcast will provide you with rich information and strategies to help you better understand and grasp the complex dynamics of the cryptocurrency market! Don't miss our live broadcast, understand the market dynamics in advance, and formulate your investment strategy! Welcome to make an appointment to watch~

On February 27, 2025, the cryptocurrency market was like a forest shrouded in dark clouds. The panic index plummeted from 21 to 10 in just 24 hours, hitting a record low since June 2022. Just the day before, the market was still immersed in the number "21", a symbol of extreme fear - a low of 123 not seen since August 2024. Behind the cold numbers are the accelerated heartbeats and trembling fingers of countless investors, the terrifying moment when the price of Bitcoin retreated all the way from the short-term support line of $52,000, and the drastic reversal of market sentiment from greed to fear. What is the cryptocurrency market experiencing in this storm? How can investors find direction in the fog of fear?

Source: The Kobeissi Letter (@KobeissiLetter) February 26, 2025

MicroStrategy (MSTR), a company known for its aggressive acquisition of Bitcoin, is attracting attention as its stock price plummeted by more than 55%. In the context of the current market downturn, the company holds about $43.7 billion worth of Bitcoin (about 499,000 BTC), sparking widespread discussion about whether it may be forced to liquidate. The authoritative financial analysis agency The Kobeissi Letter analyzed this in a detailed post, exploring the possibility of liquidation and the key factors behind it.

1. Bank of America CEO says he may launch a stablecoin

Bank of America Corp., which has historically taken a backseat to the cryptocurrency industry, is ready to launch its own dollar-backed stablecoin if U.S. lawmakers approve legislation that would allow it to do so, its CEO said Tuesday. "If they make it legal, we'll get into that business," Bank of America CEO Brian Moynihan said Tuesday in an interview with David Rubenstein at the Economic Club of Washington, D.C. View all newsletters Moynihan said he believes there will definitely be dollar-backed stablecoins, given that these digital assets function just like money market funds or bank accounts. That depends on Congress passing the legislation; lawmakers and White House cryptocurrency and artificial intelligence czar David Sacks said legislation could come within President Trump's first 100 days in office. "It's clear that there will be a fully dollar-backed stablecoin, [...] so you'll have a Bank of America coin and a dollar deposit, and we'll be able to move them back and forth because it's not legal for us to do that right now, but it'll be like another foreign currency," he said. Bank of America has been cautious about dabbling in cryptocurrencies compared with firms like JPMorgan Chase & Co. and Citigroup Inc. But changing regulations could force its hand. The Trump administration has made it clear that it will support any efforts in the cryptocurrency space, in part by providing clearer regulatory guidance, which could increase competition among Wall Street banks in the space. Charles Schwab, another bank that previously took a sideline approach, recently hired a head of digital assets to explore opportunities in the space. The stablecoin economy has support from both Democrats and Republicans, making it simpler to write laws for this type of digital asset than for other areas of cryptocurrency. To help get things moving, a group of lawmakers pledged earlier this month that Congress would pass legislation on stablecoins within 100 days of Trump taking office. While Democrats have expressed concerns about stablecoins being used for illegal activities, Republicans fully control Congress, so it is likely that Congress will pass bills that take a friendly approach to digital assets, although any final bill will likely require some kind of bipartisan support.The industry is already a major force in payments. According to Visa, stablecoins facilitated more than $33 trillion in transaction volume in the past year, more than Visa and Mastercard combined.

After yesterday's sharp drop, market sentiment has fallen to extreme fear, with the long-short ratio approaching historical highs, institutional buying has weakened, and option support is precarious. Key data suggests that the market may be at a significant decision point: is the next step a plunge or a rebound? The editor will take you deeper into the logic behind the data.

I. Bullish confidence remains, but the dominant force leans towards shorting.

OKX BTC long-short ratio: 3.45, at the highest level in nearly 5 years

• Data Interpretation: Currently, the number of long position holders far exceeds that of short positions, while the dominant funds, i.e., the minority, are bearish.

• Risk Point: The dominant sentiment is bearish, and dominant funds often hold market control, which can easily lead to drastic reversals.