狂人叨逼叨
你们想找的狂人就在这，一起抱团取暖，还是每天熟悉的《狂人说》公众号：狂人叨逼叨
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The liquidity of the cryptocurrency market is being harvested by 'outsiders.' How can the future break through?
The cryptocurrency market hasn't really expanded beyond its niche; instead, it has had its liquidity heavily drained by outsiders. Once upon a time, in the grand universe of exchanges like the Huobi of yesteryear, and now, a certain An exchange, liquidity was very abundant. When altcoins fall to the point of being ignored, there often emerges a wave of altcoin trading. By assessing market sentiment, one could always successfully capture these moments. But what about now?
Now Trump is leading the charge in cryptocurrency, and presidents from various countries, along with many powerful figures, have seen the monetization opportunities in the crypto space. They are using their own IP to cash in crazily, leveraging their reputational value to create a meme and earning money that far exceeds their own worth. As a result, the liquidity in the crypto space has been taken away by them. Although there has been some inflow of funds from outside the circle, it is far less than what outsiders are extracting from the crypto market. Hence, the current crypto market is stagnant, and altcoins that are not of interest to traditional capital are unlikely to see any 'altcoin seasons' unless the flow of funds improves.
Now Trump is leading the charge in cryptocurrency, and presidents from various countries, along with many powerful figures, have seen the monetization opportunities in the crypto space. They are using their own IP to cash in crazily, leveraging their reputational value to create a meme and earning money that far exceeds their own worth. As a result, the liquidity in the crypto space has been taken away by them. Although there has been some inflow of funds from outside the circle, it is far less than what outsiders are extracting from the crypto market. Hence, the current crypto market is stagnant, and altcoins that are not of interest to traditional capital are unlikely to see any 'altcoin seasons' unless the flow of funds improves.
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Bitcoin maintains high-level fluctuations, the market is waiting for a 'big event'
This weekend's market is so dull that it’s hard to get excited. The market has entered a consolidation phase, with no significant macro data or Federal Reserve meetings on the horizon, and there are almost no negative factors in the short term. The core PCE won't be available until the end of the month, and the policy front in February is relatively calm.
However, there are still some positive expectations on the policy front. After all, the new government has just taken office, and the implementation of some policy terms is still to be observed. Therefore, without clear negative factors, it won’t be easy for BTC to break below the support level of 94,000 in the short term. But there is also a lack of upward momentum, and it is highly likely to maintain high-level fluctuations in the short term.
Originally, I was hoping that good sentiment over the weekend could lead to a surge for short-term trading, but it seems I was overthinking it. The market's reaction time to positive news is getting shorter, and not just for BTC, but even in the Meme market, players' patience is becoming increasingly limited.
From the data, BTC's turnover rate continues to decrease compared to Friday, and Sunday’s turnover rate is expected to be even lower. This indicates that players' sentiment has synchronized with 'garbage time', and their reactions to both positive and negative news are becoming increasingly dull. Next, we may have to wait for a 'big event' to break the deadlock and choose a direction. #加密市场反弹
This weekend's market is so dull that it’s hard to get excited. The market has entered a consolidation phase, with no significant macro data or Federal Reserve meetings on the horizon, and there are almost no negative factors in the short term. The core PCE won't be available until the end of the month, and the policy front in February is relatively calm.
However, there are still some positive expectations on the policy front. After all, the new government has just taken office, and the implementation of some policy terms is still to be observed. Therefore, without clear negative factors, it won’t be easy for BTC to break below the support level of 94,000 in the short term. But there is also a lack of upward momentum, and it is highly likely to maintain high-level fluctuations in the short term.
Originally, I was hoping that good sentiment over the weekend could lead to a surge for short-term trading, but it seems I was overthinking it. The market's reaction time to positive news is getting shorter, and not just for BTC, but even in the Meme market, players' patience is becoming increasingly limited.
From the data, BTC's turnover rate continues to decrease compared to Friday, and Sunday’s turnover rate is expected to be even lower. This indicates that players' sentiment has synchronized with 'garbage time', and their reactions to both positive and negative news are becoming increasingly dull. Next, we may have to wait for a 'big event' to break the deadlock and choose a direction. #加密市场反弹
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US credit card debt breaks record! What crisis is hidden behind the economic boom?
Recently, US credit card debt hit a record high, reaching a staggering $1.21 trillion! This number sounds like a headache. But strangely, the current economic data looks quite "bright": the unemployment rate is at a historical low, and the average hourly wage is also rising. So why do so many people choose to use credit cards to consume in advance?
On the one hand, the stock market continues to rise, and many stockholders have made a lot of money; but on the other hand, economic stability has also kept inflation high, and prices have risen so much that people are breathless. What's more contradictory is that the official has always emphasized that the economy "will never have a hard landing", but in a high-interest rate environment, the probability of black swan events is quietly rising, and investors' confidence has begun to waver.
Where will this situation of "prosperity on the surface, crisis inside" go? Will it continue to be a carnival, or the calm before the storm? Welcome to chat about your views in the comment area!
Recently, US credit card debt hit a record high, reaching a staggering $1.21 trillion! This number sounds like a headache. But strangely, the current economic data looks quite "bright": the unemployment rate is at a historical low, and the average hourly wage is also rising. So why do so many people choose to use credit cards to consume in advance?
On the one hand, the stock market continues to rise, and many stockholders have made a lot of money; but on the other hand, economic stability has also kept inflation high, and prices have risen so much that people are breathless. What's more contradictory is that the official has always emphasized that the economy "will never have a hard landing", but in a high-interest rate environment, the probability of black swan events is quietly rising, and investors' confidence has begun to waver.
Where will this situation of "prosperity on the surface, crisis inside" go? Will it continue to be a carnival, or the calm before the storm? Welcome to chat about your views in the comment area!
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PlanB liquidates Bitcoin, turns to ETF! Is the future of BTCFi here?
The 'prophet' PlanB from the last cycle recently made a big move - he converted all his BTC into spot ETFs! To be honest, this was also one of my original intentions for doing BTCFi. Why? Because for many ordinary players, the technical barriers of private key management, wallet security, and the on-chain black forest are really discouraging. The emergence of ETFs perfectly solves this problem: you only need to be responsible for investing, while the safety is guaranteed by regulatory agencies.
Especially in terms of asset inheritance, the advantages of ETFs are simply too obvious. Of course, if you live in a country or region without capital gains tax and estate tax, it’s practically a 'laying down to win' situation! After all, who doesn't want their investments to be both safe and worry-free?
PlanB's move may also indicate that more large funds will turn to ETFs in the future. Do you think this is a trend? Let's chat in the comments! #加密货币普及
The 'prophet' PlanB from the last cycle recently made a big move - he converted all his BTC into spot ETFs! To be honest, this was also one of my original intentions for doing BTCFi. Why? Because for many ordinary players, the technical barriers of private key management, wallet security, and the on-chain black forest are really discouraging. The emergence of ETFs perfectly solves this problem: you only need to be responsible for investing, while the safety is guaranteed by regulatory agencies.
Especially in terms of asset inheritance, the advantages of ETFs are simply too obvious. Of course, if you live in a country or region without capital gains tax and estate tax, it’s practically a 'laying down to win' situation! After all, who doesn't want their investments to be both safe and worry-free?
PlanB's move may also indicate that more large funds will turn to ETFs in the future. Do you think this is a trend? Let's chat in the comments! #加密货币普及
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Check-in Old Man
币世界中本聪 Satoshi Nakamoto
--
Ethereum testnet upgrade imminent, mainnet may launch in April
U.S. January inflation data shows that the PPI annual rate recorded 3.5% (expected 3.2%), marking the largest increase since February 2023. The Atlanta Fed predicts the U.S. GDP growth rate for the first quarter of 2025 to be 2.3%, down from a previous estimate of 2.9%. As the Fed's preferred inflation indicator, PCE related components showed a monthly decline, easing inflation concerns, and the market reacted dovishly to this PPI report. On Friday, the Nasdaq rose slightly by 0.23%, and the cryptocurrency market rebounded. Analysts believe the broader outlook is that inflation will moderately retreat to the Fed's 2% target.
Back to the topic:
U.S. Michigan state representatives Bryan Posthumus and Ron Robinson submitted HB 4087, a bill aimed at amending the state's (Management and Budget Act) to establish a BTC strategic reserve. This bill allows the state treasury to invest in cryptocurrencies from the general fund and economic stabilization fund, with a cap of 10%. Currently, 20 states across the U.S. have proposed similar bills. Texas state representative Charles Schwertner introduced a bill aimed at establishing a strategic BTC reserve, which is now designated as SB 21, allowing investments in cryptocurrencies with a market value of at least $500 billion over the year, emphasizing that it would make Texas the first state to establish a cryptocurrency reserve, potentially driving innovation and financial autonomy. New York state senator James Sanders Jr. initiated a proposal to establish a cryptocurrency and blockchain research working group in New York State, to provide the governor and legislature with information about the widespread use of cryptocurrencies and other forms of digital currencies and their supporting systems, including but not limited to blockchain technology. Trump nominated former cryptocurrency company executive Jonathan Gould to serve as director of the Office of the Comptroller of the Currency (OCC), which is the regulatory agency for national banks, overseeing members of the Federal Reserve System such as JPMorgan Chase and Bank of America. The newly appointed head of the U.S. Commodity Futures Trading Commission (CFTC), Brian Quintenz, released his first statement indicating that the agency is prepared to ensure that the U.S. leads the world in blockchain technology and innovation, looking forward to cooperating with Trump's financial regulatory team.
Back to the topic:
U.S. Michigan state representatives Bryan Posthumus and Ron Robinson submitted HB 4087, a bill aimed at amending the state's (Management and Budget Act) to establish a BTC strategic reserve. This bill allows the state treasury to invest in cryptocurrencies from the general fund and economic stabilization fund, with a cap of 10%. Currently, 20 states across the U.S. have proposed similar bills. Texas state representative Charles Schwertner introduced a bill aimed at establishing a strategic BTC reserve, which is now designated as SB 21, allowing investments in cryptocurrencies with a market value of at least $500 billion over the year, emphasizing that it would make Texas the first state to establish a cryptocurrency reserve, potentially driving innovation and financial autonomy. New York state senator James Sanders Jr. initiated a proposal to establish a cryptocurrency and blockchain research working group in New York State, to provide the governor and legislature with information about the widespread use of cryptocurrencies and other forms of digital currencies and their supporting systems, including but not limited to blockchain technology. Trump nominated former cryptocurrency company executive Jonathan Gould to serve as director of the Office of the Comptroller of the Currency (OCC), which is the regulatory agency for national banks, overseeing members of the Federal Reserve System such as JPMorgan Chase and Bank of America. The newly appointed head of the U.S. Commodity Futures Trading Commission (CFTC), Brian Quintenz, released his first statement indicating that the agency is prepared to ensure that the U.S. leads the world in blockchain technology and innovation, looking forward to cooperating with Trump's financial regulatory team.
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The Meme coin market has changed! Is the game between players and orchestrators entering a 'life-or-death game'?
The current Meme coin market is no longer a situation where 'you are good, I am good, everyone is good.' In the past, we profited together in the market; now, it has turned into a brutal game of 'either you die or I live.' Why is that? The fundamental reason is that many people have not followed the principle of 'profits in the crypto world are spent in the crypto world.'
The overall environment is poor, and the players' mentality is also declining. Winning means cashing out, and the rest continues to play; winning again means cashing out again, and losing means lying flat to watch the show. What’s the result? The active capital in the market is decreasing more and more. How to see the reduction in active capital? It’s simple, just look at the price trends of SOL and BNB. These two coins are 'buying tools'; when they rise, it indicates that player sentiment is high; when they fall, it indicates that more people are exiting than entering.
The overall environment is poor, and the players' mentality is also declining. Winning means cashing out, and the rest continues to play; winning again means cashing out again, and losing means lying flat to watch the show. What’s the result? The active capital in the market is decreasing more and more. How to see the reduction in active capital? It’s simple, just look at the price trends of SOL and BNB. These two coins are 'buying tools'; when they rise, it indicates that player sentiment is high; when they fall, it indicates that more people are exiting than entering.
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22 US States Are Quietly Planning Bitcoin! Strategic Reserve Plans Exposed, Who's Next?
Recently, interest in Bitcoin has been growing among US states, and some have even started to develop 'Bitcoin Strategic Reserves'! Currently, 22 states have submitted related bills and are awaiting approval. Although the specific details are still being finalized, it is certain that these states hope to enhance fiscal flexibility by investing in Bitcoin.
However, not all states have been so smooth. Proposals from 3 states have already been rejected, and the specific reasons are still unclear. But it can be imagined that this emerging investment method is not without controversy.
It is worth mentioning that these bills set investment caps; for example, some states stipulate that only 10% of funds can be used to buy Bitcoin. Although this percentage is not high, it is already a significant signal for the Bitcoin market.
Next, we will update more details, such as how much funding each state can allocate to invest in Bitcoin. After all, this is a matter that concerns the future fiscal landscape! #美国加征关税
Recently, interest in Bitcoin has been growing among US states, and some have even started to develop 'Bitcoin Strategic Reserves'! Currently, 22 states have submitted related bills and are awaiting approval. Although the specific details are still being finalized, it is certain that these states hope to enhance fiscal flexibility by investing in Bitcoin.
However, not all states have been so smooth. Proposals from 3 states have already been rejected, and the specific reasons are still unclear. But it can be imagined that this emerging investment method is not without controversy.
It is worth mentioning that these bills set investment caps; for example, some states stipulate that only 10% of funds can be used to buy Bitcoin. Although this percentage is not high, it is already a significant signal for the Bitcoin market.
Next, we will update more details, such as how much funding each state can allocate to invest in Bitcoin. After all, this is a matter that concerns the future fiscal landscape! #美国加征关税
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Bitcoin surges to $98,000! Three main reasons revealed, how will the market perform over the weekend?
Yesterday's market performance was good, with Bitcoin briefly reaching $98,000. Although it has since retreated, the overall sentiment remains positive. Several key factors are driving this wave of market activity.
Firstly, Trump's mediation in the Russia-Ukraine conflict has given the market hope. If a ceasefire can be reached quickly, inflationary pressures may ease, potentially offsetting the negative impacts of tariff increases. As a result, market concerns about inflation may also alleviate.
Secondly, the 13F filings revealed that the Abu Dhabi sovereign fund Mubadala has invested $460 million in a Bitcoin spot ETF. This marks the first indirect investment in cryptocurrency by a sovereign fund, and it's from a wealthy nation! Although Bitcoin's price has retreated somewhat, this news still has a significant stimulating effect on the market.
Additionally, State Street Bank and Citibank have announced plans to accept cryptocurrency custody services. While specific details have yet to be disclosed, it is highly likely that they will start with Bitcoin. With custody services being accepted, it won't be long before mortgage lending based on cryptocurrencies is also available. This indicates that the development space for BTCFi (Bitcoin Finance) is vast.
Moreover, the SEC is studying POS staking systems, which directly benefits ETH and SOL, with overall policy news being relatively positive.
However, macro-level challenges still exist, with no clear solutions in the short term. Returning to Bitcoin itself, short-term investors remain the main players in trading, leading to significant volatility, but the support level between $93,000 and $98,000 remains solid.
The upcoming weekend may enter a 'garbage time,' but Friday's sentiment is good, and there shouldn't be too much fluctuation over the weekend. If Bitcoin can surge past $100,000, I will consider short-term operations; otherwise, I will continue to observe.
Yesterday's market performance was good, with Bitcoin briefly reaching $98,000. Although it has since retreated, the overall sentiment remains positive. Several key factors are driving this wave of market activity.
Firstly, Trump's mediation in the Russia-Ukraine conflict has given the market hope. If a ceasefire can be reached quickly, inflationary pressures may ease, potentially offsetting the negative impacts of tariff increases. As a result, market concerns about inflation may also alleviate.
Secondly, the 13F filings revealed that the Abu Dhabi sovereign fund Mubadala has invested $460 million in a Bitcoin spot ETF. This marks the first indirect investment in cryptocurrency by a sovereign fund, and it's from a wealthy nation! Although Bitcoin's price has retreated somewhat, this news still has a significant stimulating effect on the market.
Additionally, State Street Bank and Citibank have announced plans to accept cryptocurrency custody services. While specific details have yet to be disclosed, it is highly likely that they will start with Bitcoin. With custody services being accepted, it won't be long before mortgage lending based on cryptocurrencies is also available. This indicates that the development space for BTCFi (Bitcoin Finance) is vast.
Moreover, the SEC is studying POS staking systems, which directly benefits ETH and SOL, with overall policy news being relatively positive.
However, macro-level challenges still exist, with no clear solutions in the short term. Returning to Bitcoin itself, short-term investors remain the main players in trading, leading to significant volatility, but the support level between $93,000 and $98,000 remains solid.
The upcoming weekend may enter a 'garbage time,' but Friday's sentiment is good, and there shouldn't be too much fluctuation over the weekend. If Bitcoin can surge past $100,000, I will consider short-term operations; otherwise, I will continue to observe.
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Big deal! 123,000 SOL transferred, 24 million US dollars poured into Solayer!
In the past 21 hours, a mysterious address made a big move! 123,000 SOL were withdrawn from Bitget in one go, with a value of up to 24.04 million US dollars, with an average price of 195 US dollars. This is not over yet, these SOLs were deposited into Solayer in a blink of an eye, and all were converted into SSOL.
What is this operation? Is it that the big players are laying out a new track? In any case, this huge amount of capital flow is definitely worth paying attention to! What do you think? Come and talk about your views in the comment area! #加密市场反弹
In the past 21 hours, a mysterious address made a big move! 123,000 SOL were withdrawn from Bitget in one go, with a value of up to 24.04 million US dollars, with an average price of 195 US dollars. This is not over yet, these SOLs were deposited into Solayer in a blink of an eye, and all were converted into SSOL.
What is this operation? Is it that the big players are laying out a new track? In any case, this huge amount of capital flow is definitely worth paying attention to! What do you think? Come and talk about your views in the comment area! #加密市场反弹
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Trump family DeFi project has a floating loss of 54.19 million, is it a bargain hunting or being trapped?
WLFI, a DeFi project supported by the Trump family, has made another big move! 4 hours ago, 5 million USDC was spent to buy 52 WBTC, and 1.41 million USDC was spent to hoard 2.527 million MOVE.
After this wave of operations, WLFI has spent a total of 315 million U and bought 8 tokens:
ETH, WBTC, TRX, LINK, AAVE, ENA, MOVE and ONDO. However, most of these assets have been transferred to Coinbase Prime. WLFI said that it has not sold them, but we don’t know whether it is true or not.
If these tokens have not been sold yet, then WLFI is now at a big loss! The floating loss is as high as 54.19 million U. The worst loss is ENA, which lost 53%; the biggest loss is ETH, which lost 40.34 million U, a loss of 19%.
Is this wave of operations a bargain hunting or being trapped? What do you think? #加密市场反弹
WLFI, a DeFi project supported by the Trump family, has made another big move! 4 hours ago, 5 million USDC was spent to buy 52 WBTC, and 1.41 million USDC was spent to hoard 2.527 million MOVE.
After this wave of operations, WLFI has spent a total of 315 million U and bought 8 tokens:
ETH, WBTC, TRX, LINK, AAVE, ENA, MOVE and ONDO. However, most of these assets have been transferred to Coinbase Prime. WLFI said that it has not sold them, but we don’t know whether it is true or not.
If these tokens have not been sold yet, then WLFI is now at a big loss! The floating loss is as high as 54.19 million U. The worst loss is ENA, which lost 53%; the biggest loss is ETH, which lost 40.34 million U, a loss of 19%.
Is this wave of operations a bargain hunting or being trapped? What do you think? #加密市场反弹
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Whale makes a big bet on HYPE, can it turn the tide?
Today there was a major move! A certain whale transferred 8 million USDC into Hyperliquid 9 hours ago, preparing to make a big play. This time, he is aiming for HYPE, directly going long with 3x leverage, acquiring 350,000 HYPE, with a total value reaching 9.54 million dollars, at an average price of 26.25 dollars. And this isn't the end, he is still going strong~~~!
However, this whale is not new to making such big deals. Last June, he also made a significant play on ENA, but ended up facing a huge setback, losing 13.12 million dollars, with a loss rate of 44%. At that time, in April, he had sold 23.239 million ENA at an average price of 1.29 dollars, but by June, he could only cut losses at an average price of 0.726 dollars.
Now he is making a comeback, betting on HYPE, can he turn the tide? We shall see! #加密市场反弹
Today there was a major move! A certain whale transferred 8 million USDC into Hyperliquid 9 hours ago, preparing to make a big play. This time, he is aiming for HYPE, directly going long with 3x leverage, acquiring 350,000 HYPE, with a total value reaching 9.54 million dollars, at an average price of 26.25 dollars. And this isn't the end, he is still going strong~~~!
However, this whale is not new to making such big deals. Last June, he also made a significant play on ENA, but ended up facing a huge setback, losing 13.12 million dollars, with a loss rate of 44%. At that time, in April, he had sold 23.239 million ENA at an average price of 1.29 dollars, but by June, he could only cut losses at an average price of 0.726 dollars.
Now he is making a comeback, betting on HYPE, can he turn the tide? We shall see! #加密市场反弹
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Cryptocurrency May Account for 10% of Global GDP by 2030
Prediction from Coinbase CEO Brian Armstrong: By 2030, approximately 10% of the global GDP will be operating on crypto tracks. This is not a small number, equivalent to over $10 trillion in economic activity related to cryptocurrencies.
First, let's start with Armstrong's remarks. He made this prediction during the Q4 2024 earnings call, comparing the current corporate integration of cryptocurrency to how companies adapted to the internet in the early 2000s. This analogy is very apt, as we are in a similar period of technological transformation. Armstrong's view that 'on-chain is the new online' profoundly illustrates the potential of crypto technology in the future economy.
First, let's start with Armstrong's remarks. He made this prediction during the Q4 2024 earnings call, comparing the current corporate integration of cryptocurrency to how companies adapted to the internet in the early 2000s. This analogy is very apt, as we are in a similar period of technological transformation. Armstrong's view that 'on-chain is the new online' profoundly illustrates the potential of crypto technology in the future economy.
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The altcoin market is surging beneath the surface! How long can this trend last?
The SEC and CFTC are finally joining forces! It is said that they plan to restart the long-dormant joint advisory committee, which has not been active since 2014. Now they are collaborating again to regulate us digital assets. What does this mean? It means that the future cryptocurrency market will welcome a clearer and more standardized regulatory environment. CFTC Acting Chair Caroline Pham has stated that this will be a new signal for regulatory cooperation in the crypto market. Everyone knows that a chaotic regulatory environment has always been a concern for us players; if there can be unified regulatory standards, won't we be able to operate more confidently?
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Tesla BTC Holdings Disclosure: 11,509 BTC, Solidly Positioned as a Major Player
First, let's talk about Tesla's big move! According to reports, Tesla's 10-K filing submitted to the SEC shows that they hold 11,509 BTC, which is the first official disclosure of BTC holdings. Moreover, this number is exactly consistent with what Arkham previously disclosed, indicating that Tesla is no longer a newcomer in the cryptocurrency market but a substantial player! 11,509 BTC, at the current market price (currently 1 BTC is valued at $98,200), makes this asset worth up to $1.13 billion! This is no small amount, and Tesla is clearly demonstrating with action that Bitcoin is a strategic asset worth holding for the long term.
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Check-in
币世界中本聪 Satoshi Nakamoto
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Texas submits BTC reserve bill, may become the first BTC strategic reserve state in the United States!
On Monday, the US stock index opened, the Nasdaq index rose 1.1%, the S&P 500 index rose 0.7%, and the Dow Jones index rose 0.3%; gold continued to hit a new high of $2,910 per ounce, up 1.55%. Last Friday's data showed that the US unemployment rate in January was 4.0% (previous value 4.1%), and non-farm employment in January was 143,000 (previous value 307,000). The US stock index and the currency market rebounded on Monday. On Wednesday, the US CPI is expected to be 2.9% (previous value 2.9%), and the core CPI is expected to be 3.1% (previous value 3.2%).
Back to the topic:
The Texas Strategic BTC Reserve Act (Senate Bill 778) was submitted to the Senate Finance Committee for deliberation on February 7. It aims to establish a BTC reserve controlled by the state government to enhance financial security and promote digital asset innovation. The state legislature is capped at 1% of the state government's unrestricted general revenue balance every two years. If passed by a two-thirds majority, the bill will take effect immediately, otherwise it will take effect on September 1, 2025. Cynthia Lummis, the proposer of the US (BTC Strategic Reserve Act) and director of the Senate Bank Digital Assets Subcommittee, said: If the United States uses 5% of the total BTC (about 1 million BTC) to establish reserves, then the US debt can be reduced by half in the next 20 years. An official announcement from the Japanese financial services giant SBI Group, the company plans to expand its crypto business scope while striving to become the leading operator of Japan's first USD Coin platform. According to DefiLlama data, the total market value of stablecoins reached US$224.053 billion, an increase of US$6.691 billion in the past 7 days, a month-on-month increase of 3.08%. According to data compiled by Bloomberg, Metaplanet Inc.'s stock price has risen by more than 4,000% in the past 12 months due to its BTC strategy, the largest increase among all Japanese stocks in the same period and one of the highest increases in the world. Sunil, a representative of FTX creditors, said that FTX has notified users with claims below $50,000 by email, and has deposited the initial compensation into Bitgo and Kraken platforms.
Back to the topic:
The Texas Strategic BTC Reserve Act (Senate Bill 778) was submitted to the Senate Finance Committee for deliberation on February 7. It aims to establish a BTC reserve controlled by the state government to enhance financial security and promote digital asset innovation. The state legislature is capped at 1% of the state government's unrestricted general revenue balance every two years. If passed by a two-thirds majority, the bill will take effect immediately, otherwise it will take effect on September 1, 2025. Cynthia Lummis, the proposer of the US (BTC Strategic Reserve Act) and director of the Senate Bank Digital Assets Subcommittee, said: If the United States uses 5% of the total BTC (about 1 million BTC) to establish reserves, then the US debt can be reduced by half in the next 20 years. An official announcement from the Japanese financial services giant SBI Group, the company plans to expand its crypto business scope while striving to become the leading operator of Japan's first USD Coin platform. According to DefiLlama data, the total market value of stablecoins reached US$224.053 billion, an increase of US$6.691 billion in the past 7 days, a month-on-month increase of 3.08%. According to data compiled by Bloomberg, Metaplanet Inc.'s stock price has risen by more than 4,000% in the past 12 months due to its BTC strategy, the largest increase among all Japanese stocks in the same period and one of the highest increases in the world. Sunil, a representative of FTX creditors, said that FTX has notified users with claims below $50,000 by email, and has deposited the initial compensation into Bitgo and Kraken platforms.
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Texas Bitcoin Reserve Act: A New Era in Finance
Recently, Texas has done something significant! Senate Bill 778, referred to as the Texas Strategic Bitcoin Reserve Act, was submitted to the Senate Finance Committee for review on February 7. This bill is not a minor matter; it directly points to a significant direction for the future of finance—government-led Bitcoin reserves.
Firstly, this bill was proposed by Senator Charles Schwertner, and its core content allows the Texas government to hold Bitcoin as a financial asset. Just think about it, the government directly jumping into the cryptocurrency market—what does that mean? It means that the legitimacy and acceptance of Bitcoin will be greatly enhanced. Texas not only wants to hold Bitcoin but also encourages residents to donate Bitcoin, forming a community co-creation investment model. This initiative is not just financial innovation but also a reflection of community cohesion.
Firstly, this bill was proposed by Senator Charles Schwertner, and its core content allows the Texas government to hold Bitcoin as a financial asset. Just think about it, the government directly jumping into the cryptocurrency market—what does that mean? It means that the legitimacy and acceptance of Bitcoin will be greatly enhanced. Texas not only wants to hold Bitcoin but also encourages residents to donate Bitcoin, forming a community co-creation investment model. This initiative is not just financial innovation but also a reflection of community cohesion.
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Ethereum's Major Upgrade is Coming! 300,000 ETH Withdrawn
Recently, the cryptocurrency market has been brewing with undercurrents, especially with Ethereum, as on-chain data has released important signals! On February 6, the Ethereum derivatives exchange saw a net outflow of 300,000 ETH, valued at approximately $817.2 million, marking the highest record since last August. Such large-scale withdrawals usually indicate reduced market selling pressure, leveraged positions being liquidated, and funds possibly flowing into cold wallets, which is undoubtedly a bullish signal.
Meanwhile, Ethereum is about to welcome the Pectra upgrade, its first major upgrade in 11 months. The upgrade is scheduled for release in April 2025, with testing starting on the Holesky testnet on February 26 and entering the Sepolia testnet on March 5. This upgrade will focus on optimizing wallet and validator functionalities:
Meanwhile, Ethereum is about to welcome the Pectra upgrade, its first major upgrade in 11 months. The upgrade is scheduled for release in April 2025, with testing starting on the Holesky testnet on February 26 and entering the Sepolia testnet on March 5. This upgrade will focus on optimizing wallet and validator functionalities:
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Hong Kong may take the lead in incorporating Bitcoin into strategic reserves, shaking the Asian market!
Regarding the Federal Reserve's interest rate policy, according to forecasts from Goldman Sachs and Wells Fargo, the Fed is expected to cut rates twice this year, by 50 basis points. This means that borrowing costs will decrease further, market liquidity will increase, and asset prices typically trend upwards in such an environment. Especially high-risk, high-return assets like Bitcoin will be favored as capital seeks higher returns.
Looking at the Bitcoin market itself, from CryptoQuant's indicator data, we can see that the Bitcoin funding rate has entered negative territory seven times, which historically has been a strong bullish signal. A negative funding rate indicates overly pessimistic market sentiment, but often at such lows, the market has a high possibility of a rebound. If historical patterns continue to hold, we can expect Bitcoin to potentially break through the $98,000 support level in the short term, moving towards $100,000. Once this psychological barrier is breached, buying pressure will significantly increase, and the price may rapidly rise to $103,600.
Looking at the Bitcoin market itself, from CryptoQuant's indicator data, we can see that the Bitcoin funding rate has entered negative territory seven times, which historically has been a strong bullish signal. A negative funding rate indicates overly pessimistic market sentiment, but often at such lows, the market has a high possibility of a rebound. If historical patterns continue to hold, we can expect Bitcoin to potentially break through the $98,000 support level in the short term, moving towards $100,000. Once this psychological barrier is breached, buying pressure will significantly increase, and the price may rapidly rise to $103,600.
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Ethereum 2025 Prediction: $8,000 - $14,000
Last night, institutions were on a buying spree: net inflows into Bitcoin ETFs soared to $341 million, with IBIT accounting for 70% of the ammunition! The Ethereum ETF was even more outrageous, with BlackRock's single product attracting $276 million, setting a record, and ETH spot was directly bought out! On-chain evidence: Bitcoin absorbed $450 billion in hot money over two years, achieving a market capitalization of $850 billion, comparable to the world's top 500 companies!
The focus is here: Tether issued 1 billion USDT on Tron, and Circle issued 250 million USDC on Solana. Investors are recharging crazily! FTX compensation officially starts next week, and users with less than $500,000 can reclaim their principal + 9% interest in the first round. This influx of hot money will definitely create some excitement!
The focus is here: Tether issued 1 billion USDT on Tron, and Circle issued 250 million USDC on Solana. Investors are recharging crazily! FTX compensation officially starts next week, and users with less than $500,000 can reclaim their principal + 9% interest in the first round. This influx of hot money will definitely create some excitement!
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The Bitcoin bull market is far from over: Supported by Trump's policies
To put it simply, let's talk about the conclusion first. I believe this bull market has not yet ended.
Technical indicators support: Bitcoin is currently still above the MA200 daily moving average, indicating that the upward trend is still ongoing;
Macroeconomic environment: Trump's election and his potential implementation of cryptocurrency-friendly policies, along with the improvement of the regulatory environment in the U.S., are considered catalysts for further increases in Bitcoin prices.
Increased liquidity: Although there is currently controversy over liquidity, the overall trend of net inflow of funds for Bitcoin and Ethereum's U.S. spot ETFs is currently in place; moreover, with changes in the global economic situation and more institutions entering the market, liquidity will increase, supporting further increases in Bitcoin prices.
Technical indicators support: Bitcoin is currently still above the MA200 daily moving average, indicating that the upward trend is still ongoing;
Macroeconomic environment: Trump's election and his potential implementation of cryptocurrency-friendly policies, along with the improvement of the regulatory environment in the U.S., are considered catalysts for further increases in Bitcoin prices.
Increased liquidity: Although there is currently controversy over liquidity, the overall trend of net inflow of funds for Bitcoin and Ethereum's U.S. spot ETFs is currently in place; moreover, with changes in the global economic situation and more institutions entering the market, liquidity will increase, supporting further increases in Bitcoin prices.
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