OSL Trading Time: Multiple US states propose bills to establish BTC reserves, and the market expects BTC to exceed $300,000 by the end of the year

1. Market Observation

Keywords: XRP, ETF, BTC

JPMorgan analysts predict that Bitcoin's dominance over Altcoins and Ethereum will continue until 2025. With a significant increase in institutional investment and continuously improving mainstream adoption, the market expects Bitcoin's price to potentially break through $300,000 by the end of 2025. Although Bitcoin still dominates the market, Ethereum (ETH) has also shown strong momentum recently, recording a 4% increase in price, despite some slowdown in its rally.

At the same time, cryptocurrencies are gaining wider recognition globally. Texas and Oklahoma have proposed bills to establish Bitcoin reserves, and the Thai Securities and Exchange Commission is also actively considering the listing of a Bitcoin ETF. In Switzerland, the state-owned bank PostFinance has even launched an Ethereum staking service, marking its formal entry into the digital asset sector.

However, there are also some concerns in the market. U.S. Senator Cynthia Lummis has questioned the U.S. Marshals Service's decision to liquidate nearly 70,000 Bitcoins (worth billions of dollars). Meanwhile, Aave token holders are also reserved about the DeFi lending protocol's proposal to venture into Bitcoin mining.

2. Key Data (as of January 17, 09:22 HKT)

• S&P 500: 5,937.34 (+0.95% YTD)

• Nasdaq: 19,338.29 (+0.14% YTD)

• 10-year U.S. Treasury Yield: 4.619% (+4.30 bps YTD)

• U.S. Dollar Index: 108.96 (+0.72% YTD)

• Bitcoin: $20,060 (+7.14% YTD), daily spot trading volume of $48.89 billion

• Ethereum: $3,323.96 (-0.62% YTD), daily spot trading volume of $2.46 billion

3. ETF Flows (January 16 EST)

• Bitcoin ETFs: +$93.89 million

• Ethereum ETFs: -$14.64 million

4. Important Dates (Hong Kong Time)

Core CPI YoY (January 15, 21:30)

• Actual: 3.2% / Prior: 3.3% / Expected: 3.3%

CPI YoY (January 15, 21:30)

• Actual: 2.9% / Prior: 2.7% / Expected: 2.9%

Retail Sales YoY (January 16, 21:30)

• Actual: 0.4% / Prior: 0.8% / Expected: 0.6%

5. Hot News

Digital art platform MakersPlace announces it will cease operations, supporting artists and collectors to transition smoothly

Multicoin proposes to adjust the SOL inflation mechanism to a market-driven model

Trump plans to list cryptocurrencies as a national priority

Bloomberg ETF analyst: Approval of a Solana or XRP ETF is just a matter of time

Trump's Treasury Secretary nominee Yellen: No reason to be supportive of central bank digital currencies

Coinbase International will list AIXBT, PNUT and VET perpetual contracts

Market news: Nasdaq has filed a 19b-4 application for Canary Capital's Litecoin ETF

Fed Governor Waller: If data performs well, there could be three to four rate cuts this year

Market news: Grayscale Helium Trust registered in Delaware

Oklahoma state legislator proposes to establish a Bitcoin strategic reserve

Puffer Finance: CARROT will replace off-chain points in Q2, which can then be converted to PUFFER tokens at an exchange rate

Swiss state-owned bank PostFinance expands its crypto business by launching Ethereum staking

Coinbase re-enables Bitcoin lending for U.S. users through DeFi lending protocol Morpho

XRP futures open interest hits a record $7.7 billion

SOL market cap surpasses BNB, returning to the 5th rank

Binance Alpha adds LLM, SEKOIA and PYTHIA

Financial Times: Several UK and Australian pension funds have recently made small allocations to Bitcoin

Ronin launches a $10 million ecosystem grant program

Bithumb will list AGLD, CBK, and HPO KRW trading markets

Supported by OSL - Hong Kong's largest over-the-counter trading platform, providing regulated digital asset services to the market since 2018.