Headlines
▌The Enactment of the "Bitcoin Bill" in the US Will Have Far-Reaching Implications
According to Cointelegraph, the crypto research firm CoinShares stated in a blog post on January 10 that the establishment of a reserve bank in the US will accelerate the adoption of Bitcoin, even faster than the launch of a Bitcoin exchange-traded fund (ETF) in 2024. In 2024, US lawmakers proposed the "Bitcoin Bill", which will instruct the US Treasury to purchase 1 million BTC within 5 years to establish a "strategic Bitcoin reserve". The then-elected President Donald Trump approved the plan, but it has not yet been passed into law. CoinShares said: "We believe the enactment of the US 'Bitcoin Bill' will have a more far-reaching long-term impact on Bitcoin than the launch of an ETF." CoinShares said that "multiple interactions with institutional clients" have shown that the "credibility" of Bitcoin as an asset class is still the main barrier to institutional adoption of BTC.
▌Bitcoin Price Outlook Remains "Structurally Bullish"
On January 11, according to Cointelegraph, Grayscale Research chief Zach Pandl said that although macroeconomic data is currently facing headwinds, the outlook for BTC prices remains "structurally bullish". "Bitcoin seems to be suppressed by the strength of the US dollar, which is rising due to the Federal Reserve's more hawkish policy and tariff threats." He added: "The strong jobs report today reduces the likelihood of the Fed cutting rates, further supporting the dollar and potentially putting temporary pressure on Bitcoin prices." However, he said: "But this setback is likely to be temporary as the US presidential inauguration approaches." He added that he still believes the "outlook for crypto asset valuations is structurally bullish".
Market
As of the time of writing, according to Coingecko data:
BTC's latest trading price is $94,313.61, with a daily change of -0.2%;
ETH's latest trading price is $3,276.86, with a daily change of +0.8%;
BNB's latest trading price is $695.72, with a daily change of +0.6%;
SOL's latest trading price is $186.68, with a daily change of -0.2%;
DOGE's latest trading price is $0.3376, with a daily change of +1.1%;
XPR's latest trading price is $2.51, with a daily change of +6.6%.
Policy
▌Russia's Sberbank Calls for Delaying the Launch of the Digital Ruble
Russia had previously announced that it had made legislative progress to set the launch date of the digital ruble for July 1, 2025, but a representative of Russia's Sberbank (the Savings Bank of the Russian Federation) has called for delaying the launch of the digital ruble, as the related central bank digital currency (CBDC) platform is still under development. Sberbank reportedly holds about 45% of the deposit market share in Russia, and if the bank is not ready, it could affect the launch of the digital ruble.
Blockchain Applications
▌The Graph Releases Web3 Knowledge Sharing App Geo Genesis
The blockchain data indexing protocol The Graph has announced the launch of the knowledge sharing app Geo Genesis, which allows users to organize and share Web3 knowledge, aiming to enable inexperienced users to use Web3 and encourage participation in the decentralized ecosystem. The Graph expects to start transitioning from asset-based protocols to knowledge-centric applications through this initiative.
Cryptocurrencies
▌Aiccelerate DAO's X Account Reportedly Frozen by the Platform
Aiccelerate DAO's X account is reportedly frozen by the platform, and the related content is currently inaccessible, showing "the account has been frozen, X will freeze accounts that violate X rules". Aiccelerate, launched by a team of members from Coinbase, Google, a16z and other major participants, is a new decentralized autonomous organization (DAO) aimed at accelerating the integration of cryptocurrencies and artificial intelligence (AI). Its announcement shows that the DAO will focus on promoting decentralized, open-source AI development and supporting high-potential projects in different ecosystems.
▌Vitalik: Establishing Sustainable Funding Structures to Incentivize Open Source, Open Standards and Security is Truly Important
Ethereum co-founder Vitalik Buterin responded to a community user who said "everyone in the tech industry underestimates the importance of efficient capital formation for building the future", stating that what is truly important to him is establishing sustainable funding structures to incentivize open source, open standards and security, suppress closed-mindedness and extractiveness, and generally promote becoming positive-sum participants in a broader ecosystem.
▌BlackRock, MicroStrategy and Fidelity Have Collectively Bought About $94 Billion in Bitcoin by 2024
According to data platform Arkham Intelligence, BlackRock, MicroStrategy and Fidelity have collectively purchased about $94 billion worth of Bitcoin in 2024. Specifically, the world's largest asset manager BlackRock alone has purchased $50 billion, while MicroStrategy has successfully accumulated $24 billion worth of BTC. Fidelity, which acquired $20 billion worth of BTC, ranks last.
▌The Sale of the US Government's $6.5 Billion in Bitcoin Must Follow a Strict Process
Aidan Larkin of Asset Reality, when answering questions about the US government's Bitcoin, stated: "Basically, the recent court approval is the normal procedure for any civil forfeiture. And this does not mean that the US will immediately hit the sell button. The sale of Bitcoin must follow a very strict process." He added: "At some point in the future, it will go through the normal government process. There will be a civil forfeiture application hearing. They will get the approval, and then it will enter the normal law enforcement process and the public domain." It is understood that Asset Reality is a US company that helps the government manage seized assets and has extensive experience in asset management.
Important Economic Dynamics
▌Institutions: Gold is Gradually Becoming Independent of the US Dollar System, and Gold Remains a Noteworthy Asset Class
At the beginning of 2025, gold prices have fluctuated and rebounded. On January 9, the gold price reached the highest level since mid-December. On January 10, the gold price rose again. Institutions analyze that in the medium to long term, gold and the US dollar have shown a "divergence" trend, and the trend of the US dollar index does not constitute a decisive impact on gold prices. Everbright Securities' chief economist Gao Ruidong analyzed that after Trump was successfully elected US president, his "America First" policy pushed up the US dollar index, leading to a decline in gold prices. But from a medium to long-term perspective, gold and the US dollar have shown a "divergence" trend, and the trend of the US dollar index does not constitute a decisive impact on gold prices. In the current process of global economic multipolarization and the evolution of anti-globalization, the dominance of the US dollar in the international monetary system is beginning to weaken, and gold is gradually becoming independent of the US dollar system, becoming a "anchor" for pricing in times of uncertainty.
▌Macro Outlook for Next Week: CPI and "Terrible Data" May Overturn Rate Cut Expectations, the Fed Turns to a Cautious Stance
Next week, the US will release a number of key data, including PPI, CPI and "terrible data", which will continue to bring volatility to the market. Here are the key points the market will focus on in the coming week: Wednesday 21:30, US December CPI data, US January New York Fed Manufacturing Index; Thursday 21:30, US initial jobless claims for the week ending January 11, December retail sales monthly rate. As the Federal Reserve turns to a more cautious stance, the November CPI report showed some encouraging signs that housing and broader service category price increases have begun to moderate. This means the CPI data to be released next Wednesday could potentially see a downside surprise, but any slowdown is more likely to occur in the first few months of 2025 rather than the December 2024 CPI data. Ahead of the CPI data release, investors will focus on the US December PPI data to be released next Tuesday, and on Thursday, the market's full attention will be on the retail sales data, which is known as the "terrible data".
▌Goldman Sachs Expects the Fed to Cut Rates by 25 Basis Points in Its June and December Policy Meetings
After the release of the non-farm payroll data, Goldman Sachs currently expects the Federal Reserve to cut interest rates by a total of 50 basis points this year, compared to its previous forecast of 75 basis points. Goldman Sachs expects the Federal Reserve to cut interest rates by 25 basis points at its policy meetings in June and December.
Jinse Finance Encyclopedia
CNFT is a relatively new Non-Fungible Token that uses state compression technology to store data more efficiently on Solana. Unlike traditional NFTs that either store all token metadata directly on-chain or through external links (such as IPFS), cNFT uses Merkle trees to optimize data storage.
Disclaimer: Jinse Finance, as a blockchain information platform, the articles published are for information reference only and not as actual investment advice. Please everyone should establish the correct investment concept and must increase risk awareness.
