1. Market Observation
Keywords: DOOD, ETH, BTC
The cryptocurrency market has recently shown a diversified development trend. In terms of institutional investment, US retailer GameStop is considering incorporating Bitcoin and other cryptocurrencies into its balance sheet, while JPMorgan Chase has increased its Bitcoin holdings by 69%, highlighting the strong interest of institutional investors in crypto assets. Benefiting from the strong performance of Bitcoin and the recovery of retail trading, the cryptocurrency exchange Coinbase had an impressive performance in the fourth quarter.
However, the market also faces some challenges. Federal Reserve Chairman Jerome Powell reiterated his firm stance on quantitative tightening, causing market concerns. The Ethereum market has also seen volatility, with a large holder selling 20,000 ETH worth $52.84 million on the Kr exchange. However, it is worth noting that the Ethereum Foundation has recently allocated $120 million worth of ETH tokens to DeFi lending protocols Aave, Spark, and Compound, indicating continued support for ecosystem development.
In terms of Bitcoin price forecasts, based on the Flag Pole Pattern analysis, the market is showing a cautiously optimistic sentiment, with the possibility of Bitcoin reaching $120,000. However, some traders warn that if market conditions do not improve, BTC may retrace to $92,000. Nevertheless, the continued accumulation signs of institutional investors have always been a positive signal for long-term growth.
In terms of regulation and policy, former President Trump expressed a desire to move the entire Bitcoin mining industry to the US. At the same time, US Customs is delaying the shipment of mining machines from major Chinese suppliers, disrupting the supply chain, which echoes the call to promote domestic mining.
Looking ahead, Ark Invest CEO Cathie Wood maintains her optimistic outlook, believing that Bitcoin's price will surpass $1 million by 2030, citing increased institutional participation and the likelihood of government adoption. Another positive signal is that the Japanese company Metaplanet has raised 4 billion yen through zero-coupon bonds to increase its Bitcoin holdings, reflecting the confidence of the Asian market in crypto assets.
2. Key Data (as of February 14, 09:30 HKT)
S&P 500: 6,115.07 points (YTD +3.97%)
Nasdaq: 19,945.64 points (YTD +3.29%)
10-year US Treasury Yield: 4.540% (YTD -3.60 bps)
US Dollar Index: 107.02 (YTD -1.34%)
Bitcoin: $96,605 (YTD +3.42%), daily spot trading volume of $36.84 billion
Ethereum: $2,675.28 (YTD -20.01%), daily spot trading volume of $18.72 billion
3. ETF Flows (February 13 EST)
Bitcoin ETF: -$183 million
Ethereum ETF: +$8 million
4. Important Dates (Hong Kong Time)
US January Core CPI YoY (February 12, 21:30)
Actual: 3.3% / Prior: 3.2% / Expected: 3.1%
US January CPI YoY (February 12, 21:30)
Actual: 3.0% / Prior: 2.9% / Expected: 2.9%
US January PPI MoM (February 13, 21:30)
Actual: 0.4% / Prior: 0.4% / Expected: 0.3%
US January Retail Sales MoM (February 14, 21:30)
Actual: To be announced / Prior: 0.4% / Expected: -0.1%
5. Hot News
Nexus Announces Launch of Layer 1 Blockchain, Testnet to Open on February 19
21,000 BTC Options and 176,000 ETH Options to Expire Today
Tiktok Has Been Reinstated on the App Store and Google Play
GameStop Considers Investing in Bitcoin and Other Cryptocurrencies
SEC Accepts Grayscale's XRP Trust Conversion to ETF Application, Initiating Review Process
Coinbase Forecasts 2024 Full-Year Revenue of $6.6 Billion and Net Profit of $2.6 Billion
US SEC Has Confirmed Accepting DOGE ETF Application
CZ Shares Photos of His Pet Dog Broccoli and Their Story
Binance Futures to List IPUSDT1-25X USDT Perpetual Contract
OpenSea: OS2 Open Beta Now Live, SEA Token to Be Launched Soon
MyShell to Open Airdrop Claim at 22:30 Today, Token Economics Already Published
Lens Chain Plans to Adopt Aave's Stablecoin GHO as Native Gas Token
Binance Futures to List B3USDT1-25X USDT Perpetual Contract
Mastercard Discloses 30% of Its Transactions Will Be Tokenized by 2024
Data: Around 14 Million USDC Transferred from Binance to 0xad354-Starting Address 10 Minutes Ago
Binance Alpha Adds AERO, ONDO, MORPHO, VIRTUAL
20 Million TRUMP Transferred from Binance to Unknown Wallet in 2 Hours, Worth About $342 Million
Bittensor to Launch dTAO Upgrade, Optimizing Token Issuance Mechanism
Coinbase Seeks to Re-enter Indian Market, in Talks with Regulators
South Korean Financial Commission Plans to Open Corporate and Exchange Accounts in Three Phases
Robinhood's Q4 Crypto Trading Volume Surges 400% to $70 Billion
Supported by OSL - Hong Kong's largest digital asset platform, providing regulated digital asset services since 2018.
