1. Market Observation
Keywords: ETF, ETH, BTC
BTC has been in a consolidation phase recently, with trading prices ranging between $94,000 and $100,000, and the market sentiment tends to be cautious. It is worth noting that the launch of the Grail Bridge testnet by BitcoinOS, a cross-chain solution, marks an important step for BTC in terms of multi-functionality beyond payments. Despite the volatile market, Real Vision CEO Raoul Pal remains optimistic about BTC, ETH, Solana and Sui.
On the ETH side, large holders have actively increased their positions during the recent market pullback, with new holdings reaching $2.5 billion. After maintaining below $3,000 for several weeks, the ETH price seems to be showing bullish signals, suggesting that capital may be shifting from Solana. Meanwhile, a mysterious Chinese programmer made multi-million dollar ETH token donations and subsequently burned an equivalent amount, drawing market attention.
Currently, BTC's dominance in the Altcoin market continues to rise, while macroeconomic uncertainty has led to the underperformance of other Altcoins. The Texas State Senate is considering establishing a strategic BTC reserve to diversify the state's cash reserves. It is worth noting that with increasing uncertainty and divergent analyst views on BTC's price trajectory, the short-term leverage position exceeds the long position by $120 million, indicating a potential bearish trend in the short term.
In the ETF market, institutional investors now control more than a quarter of the total assets of BTC ETFs. While BTC and ETH ETFs have seen overall outflows, BlackRock's IBIT ETF has bucked the trend and attracted inflows. Additionally, JPMorgan holds over $100 million worth of BTC and ETH ETF shares. It is worth mentioning that BTC supporter Michael Saylor has released the "21 Bitcoin Rules" guide, providing in-depth insights into the adoption, ownership and ideology of digital currencies.
2. Key Data (as of 10:00 HKT on February 19)
S&P 500: 6,129.58 points (YTD +4.22%)
Nasdaq: 20,041.26 points (YTD +3.78%)
10-year US Treasury Yield: 4.552% (YTD -2.50 bps)
US Dollar Index: 107.07 (YTD -1.30%)
BTC: $95,461 (YTD +2.17%), daily spot trading volume of $38.42 billion
ETH: $2,671.62 (YTD -20.12%), daily spot trading volume of $24.10 billion
3. ETF Flows (February 18 EST)
BTC ETFs: -$123.1 million
ETH ETFs: +$46 million
4. Important Dates (Hong Kong Time)
Initial Jobless Claims (February 20 21:30)
Actual: TBA / Prior: 213,000 / Expected: 215,000
FOMC Meeting Minutes (February 20 03:30)
5. Hot News
Galaxy: The LIBRA "Runaway" Incident Further Undermines Investors' Demand for Holding SOL
Schwab Establishes Digital Asset Leadership Role to Explore Providing Crypto Services
Google Exploring Using "Google Login" to Access BTC Wallets
Crypto-Friendly Howard Lutnick Confirmed as US Commerce Secretary
Kraken Completes First FTX Estate Payout, Compensating Over 46,000 Creditors
Bankless Ventures Announces Launch of Second Fund, Targeting $50 Million Raise
Bubblemaps: Trader Turns $1.09 Million into $109 Million by Trading Meme Coin TRUMP
DigitFT to Launch Tokenized Version of $6.3 Billion Invesco Fund
Bullish Granted Virtual Asset Trading Platform License in Hong Kong
K33 Research: BTC Market in "Doldrums" Since US Election
US SEC Confirms Receipt of Bitwise's Spot XRP ETF Application
Former Tether CEO Developing Yield-Bearing Stablecoin Project Pi Protocol, Slated for H2 2023 Launch
Curve Founder's New Project Yield Basis Raises $5 Million at $50 Million Token Valuation
LIBRA Co-Founder Hayden Davis Claims He Bribed Sister of Argentine President
Strategy Announces $200 Million Convertible Bond Issuance to Support Future BTC Purchases
US SEC Seeks Public Feedback on Approving Grayscale and Bitwise ETH ETF Options
Next FTX Repayment Distribution to Begin on May 30
Fed's Daly: Crypto is an Emerging Industry, Don't Want to Stifle Innovation Out of Fear
Coinbase International to List EURC Perpetual Contracts
Grayscale Announces Launch of Grayscale $PYTH Trust
Robinhood Plans to Launch Crypto Products in Singapore by 2025
KernelDAO to Conduct $KERNEL Token TGE in February
Lawyer: Nearly 75,000 LIBRA Token Users Suffered Losses, Total Losses Around $286 Million
Jupiter Co-Founder: Meteora Co-Founder Ben Resigned, Hired Law Firm to Investigate LIBRA
ESMA Launches Public Consultation on Developing Crypto Asset Advisor Standards
Market Rumor: LIBRA Team Negotiating with Nigerian Government to Launch Meme Coin
Institutional Investors Hold 25.4% of Total BTC ETF Assets Under Management, Totaling $26.8 Billion
Argentine President: Did Not Promote LIBRA, Only Shared LIBRA Information
Supported by OSL - Hong Kong's largest digital asset platform, providing regulated digital asset services since 2018.
