1. Market Observation
Keywords: Trump, ETH, BTC
Recently, the market performance of Bitcoin has been significantly affected by the words and deeds of former US President Donald Trump, as well as the developments in regions such as South Korea and China. Market volatility has become the norm, with the $140 million Bybit default event and the recent bearish trend causing significant fluctuations in the value of Bitcoin.
Nevertheless, market analysts believe that Bitcoin may have formed a strong bottom, indicating that it still has upside potential in future trading volatility. South Korea is gradually approaching a decision on a Bitcoin ETF, drawing on Japan's positive attitude towards digital assets. At the same time, China's decision to increase the money supply to address economic challenges and trade tensions with the US may catalyze a rise in Bitcoin.
Another positive factor for Bitcoin is that it has been used to ensure the election results of the local Republican convention, highlighting its diverse application value. Additionally, a trader predicts that Bitcoin will enter a bear market phase, which could lead to a significant decline and push the Bitcoin price to the $73,000 mark.
In contrast to Bitcoin, the price of Ethereum appears to be under pressure, showing signs of decline, indicating that its bullish trend may be coming to an end. Despite the obvious errors on the main testnet, Ethereum's ambitious upgrade project Petra is still progressing.
In the DeFi field, the Solana token is considered to be undervalued compared to Ethereum, showing future growth potential. Additionally, Skate has launched the first automated market maker protocol that supports cross-chain virtual machines, further enriching the market's choices.
Despite the potential upside opportunities, Bitcoin is still struggling to address the negative impact of Dark Web links, and its fragile sentiment is also further affecting its performance. Therefore, market participants must anticipate the possibility of further volatility in the future.
2. Key Data (as of 09:30 HKT on March 7)
S&P 500: 5,738.52 points (YTD -2.43%)
Nasdaq: 18,069.26 points (YTD -5.31%)
10-year US Treasury yield: 4.276% (YTD -30.00 bps)
US Dollar Index: 104.14 (YTD -4.01%)
Bitcoin: $89,919 (YTD -3.74%), daily spot trading volume of $43.89 billion
Ethereum: $2,205.15 (YTD -34.07%), daily spot trading volume of $19.99 billion
3. ETF Flows (as of March 5 EST)
Bitcoin ETF: -$38.3 million
Ethereum ETF: -$63.32 million
4. Important Dates (Hong Kong Time)
FOMC permanent voting member, New York Fed President Williams, and Fed Governor Bowman participate in a panel discussion at the University of Chicago Booth School of Business US Monetary Policy Forum (March 7, 23:45)
Fed Chair Powell speaks at the University of Chicago Booth School of Business 2025 US Monetary Policy Forum luncheon (March 7)
US February Unemployment Rate (March 7, 21:30)
Actual: N/A / Previous: 4% / Expected: 4%
US February Seasonally Adjusted Non-Farm Payrolls (10,000) (March 7, 21:30)
Actual: N/A / Previous: 14.3 / Expected: 15.3
President Trump hosts a cryptocurrency summit at the White House (March 8, 2:30)
North America begins Daylight Saving Time, US and Canadian financial markets and economic data release times will be one hour earlier than Standard Time. (March 9, 14:00)
5. Hot News
Mint Blockchain: MINT Airdrop to be Unlocked in Three Months, 50% Unlocked in the First Phase
Two US Congressmen Plan to Release an "Important Plan" on Bitcoin Next Tuesday
Market News: CANARY SUI ETF Registered in Delaware
Bithumb to List AVL Token on the Korean Won Market
Movement to Launch Mainnet on March 10
Japan Plans to Classify Cryptocurrencies as New Assets, Not Securities Regulation
Golden Ten: The US Establishes a Bitcoin Strategic Reserve, But Will Not Actively Purchase Bitcoin
The Bitcoin Strategic Reserve Bill in Texas Has Passed the State Senate
Jito Foundation Contributors Propose a New JTO Token Economic Model, Including Potential Buybacks
YZi Labs Invests in Tensorplex Labs to Promote Decentralized AI Development
Insider: The Manus Token and the Manus AI Agent Product Team Have No Relationship
World Liberty Financial Reaches Strategic Reserve Cooperation with Sui
David Sacks: The Government's Lack of a Long-Term Bitcoin Strategy Has Cost Taxpayers Dearly
Tether Freezes $28 Million USDT of Sanctioned Russian Exchange Garantex
In the Past 2 Days, 12 Wallets Have Deposited 125 Million ENA, Worth $45 Million, into CEX
CFTC Acting Chair: CFTC and SEC Are Discussing and Cooperating on Digital Assets and Other Matters
Supported by OSL - Hong Kong's largest over-the-counter trading platform, providing regulated digital asset services to the market since 2018.
