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Yesterday, Bitcoin fell below the $90,000 threshold, and market risk aversion surged sharply. The yen appreciated 6% in six weeks, technology stocks weakened, and investors were on edge. In July last year, the Bank of Japan's interest rate hike caused Bitcoin to plummet by 20%, and now a similar scene is reappearing.

In the current market, hedge funds are using Bitcoin spot ETFs, particularly ibit and cme futures, to arbitrage for excess returns. However, as the basis approaches U.S. Treasury yields, if Bitcoin falls and narrows the arbitrage space, funds are likely to close their positions during U.S. stock trading hours, further driving Bitcoin prices down.

With Bitcoin spot prices falling, its ETFs are also struggling. According to Four Side Investor data, yesterday, U.S. Bitcoin ETFs saw an outflow of $516 million, with Ethereum seeing an outflow of $78 million, and fbdc and ibit each experiencing an outflow of $150 million. The bull market driven by ETFs is now seeing a withdrawal of funds; whether this is coincidence or a signal of a market trend change needs to be observed through changes in the cryptocurrency market, U.S. stocks, leverage, and Bitcoin strategy holdings and market capitalization.

The market premium rate for Bitcoin strategy dropped from 3.4 times last year to 1.6 times, making it more difficult for Michael Celery to finance Bitcoin purchases. Market trading activity and confidence are declining. However, the options market's annualized performance remains around 8%, and traditional arbitrage funds and leveraged returns still hold appeal, indicating that financiers have not fully withdrawn.

The impact of the bybiy hacker attack continues to escalate, with Ethereum, Solana, and Dogecoin experiencing significant declines this week. After the Asian session opened on Tuesday, the downward trend did not stop, with a two-day decline of 20%, putting pressure on the market. CMC data shows that the altcoin index is only 25, and among the top 100 cryptocurrencies by market capitalization, only 25 outperformed Bitcoin. The decline in Bitcoin has put pressure on altcoins. The effects of the bybit hacker incident and related sell-offs of Solana are still ongoing, combined with token unlocks and increased market supply, which may trigger a wave of selling.

Currently, many traders are bullish on Bitcoin; if the market continues to decline, new funds may flow in quickly. However, the altcoin market lacks new trends, and future movements remain uncertain. #比特币价格走势分析

Latest major events in the cryptocurrency world that every trader must know!
February 26, 2025 Latest news summary in the cryptocurrency world:
1. A new wallet has withdrawn 400,000 TRUMP from Binance, approximately worth 5.23 million USD

2. Vitalik: Considering migrating Ethereum to Poseidon hash to optimize zk-prover friendliness

3. A whale that profited 6.03 million USD through TRUMP has again reduced its position by 7.53 million USD in TRUMP

4. A whale spent 32.81 million DAI on-chain in the past half hour to buy 13,300 ETH, at an average price of 2,466 USD

5. The Oklahoma Strategic Bitcoin Reserve Act (HB 1203) has been passed by the House committee and entered the stage of full voting

6. A new wallet address has just withdrawn 14.51 million ENA from Binance, approximately worth 5.95 million USD

7. A giant whale has completely liquidated MELANIA, incurring a loss of 15.68 million USD

8. A giant whale unstaked over 1.36 million SOL 7 hours ago and transferred it to FalconX, approximately worth 198 million USD

9. Matrixport: From a technical perspective, Bitcoin may retrace to its recent support level of 73,000 USD

10. IP 24H trading volume exceeds 1.9 billion USD, IP 24H increases over 35%

11. Binance has added Sonic and Test as borrowable assets

12. Ethena will expand to the MoveVM ecosystem, ENA stakers can receive a 5% Echelon airdrop

13. Analysis: Strategy is unlikely to be forced to liquidate Bitcoin due to a decline

14. LPT 24-hour trading volume exceeds 63 million USD, Gate.io ranks second globally in trading volume

15. Jupiter founder announces three major long-term strategies, with 280 million JUP personally held locked until 2030

16. A giant whale unstaked 1.36 million SOL and deposited them into FalconX hot wallet, valued at 198.67 million USD

17. pump.fun deposited 87,787 SOL to Kraken 9 hours ago, accumulating a total deposit of 2.433 million SOL

18. Binance will support the token swap of BinaryX (BNX) and rename it to Four (FORM)

#币安Alpha上新 #比特币价格走势分析 #美联储降息预期 #Infini遭攻击 #ETH走势分析 $ETH

$BTC

Elon Musk, a titan in the tech industry, is known as the 'Iron Man of Silicon Valley.' He sternly warned the United States that if a major power war breaks out in the future, the U.S. may face defeat due to its excessive reliance on high-cost traditional equipment and its failure to adapt to modern warfare. When questioned by a U.S. general about whether the U.S. could defeat China, he bluntly stated that America can never defeat China.

Musk has praised China's development, highlighting its years of rapid economic growth and significant achievements in infrastructure construction, noting that it is the largest and most dynamic market for new energy vehicles in the world. He pointed out that the U.S. has become complacent and stagnant in certain areas, warning that if it ignores China's progress, it may be surpassed in the future, and he cautioned that the U.S. should avoid conflict with China.

Musk's upbringing is extraordinary; he self-taught programming at the age of 10, made his first bucket of money at 12, entered Stanford for a PhD at 24 but dropped out to start a business, and became a millionaire before the age of 30, eventually becoming the richest person in the world by 50. His success is closely tied to his mother, Maye Musk. Maye was born in Canada, became a model at 15, once ran for 'Miss South Africa,' married at 22 but fell into an unhappy marriage. As a single mother, she moved between countries and cities, working five jobs to support her children. Yet, she never gave up. After her children achieved outstanding accomplishments in their respective fields, she moved to New York at 50, revived her supermodel dreams at 62, signed contracts at 68, became a brand ambassador at 69, and published her autobiography 'A Life of My Own,' inspiring countless people.