1. Market observation
Keywords: MicroStrategy, BTC, ETP
MicroStrategy unveiled a rebranding plan, adopting the name "Strategy" to strengthen its focus on Bitcoin. The company recently reported fourth-quarter revenue of $120.7 million, down 3% from last year, and a net loss of $670.8 million. Meanwhile, Arbitrum has partnered with BitcoinOS to bring its Ethereum-based second-layer scaling solution to the Bitcoin network. Despite uncertainty in global markets and rising trade tensions between the United States and China, the price of Bitcoin is expected to reach $500,000 if the United States implements Senator Lummis' plan to acquire 5% of the Bitcoin supply.
According to CryptoQuant, Tron’s network fee revenue has surpassed Ethereum. Analyst and trader Jason Pizzino expects Ethereum, Solana, and XRP to see a bullish reversal after the market correction. However, as market sentiment turns negative, Bitcoin’s price could fall below $94,000 again.
Cryptocurrency investments continue, with BlackRock planning to list a Bitcoin ETP in Europe. This follows the successful launch of IBIT in the U.S. and ETP in Canada last year. Bitdeer also plans to invest $120 million to build a Bitcoin mining facility in Canada. Despite market volatility, the super-rich remain bullish on Bitcoin, according to Tiger21 founder Michael Sonnenfeldt.
2. Key data (as of 09:38 HKT on February 7)
S&P 500: 6,083.57 (+3.43% year-to-date)
Nasdaq: 19,791.99 (+2.49% year-to-date)
10-year Treasury yield: 4.440% (-13.60 basis points year-to-date)
US dollar index: 107.75 (-0.68% year-to-date)
Bitcoin: $96,796 (+3.62% YTD), with daily spot volume of $43.9 billion
Ethereum: $2,706.92 (-19.07% year-to-date), with a daily spot volume of $29.74 billion
3. ETF flows (February 6 EST)
Bitcoin ETF: -$140.2 million
Ethereum ETF: $0 million
4. Important Dates (Hong Kong Time)
US JOLTS job vacancies (February 4, 11:00 p.m.)
- Actual: 7.6 million / Previous: 8.16 million / Expected: 8 million
Non-farm payrolls (9:30 p.m., February 7)
- Actual: To be announced / Previous value: 256,000 / Expected: 170,000
Unemployment rate (9:30 p.m., February 7)
- Actual: To be announced / Previous value: 4.1% / Expected: 4.1%
5. Hot News
MicroStrategy Q4 financial report: Net loss of $670.8 million, purchased more than 210,000 BTC
A US nonprofit group calls on government officials to investigate Trump's promotion of memecoin
Utah's Bitcoin investment legislation has been passed by the House of Representatives
Foreign media: The US SEC seems ready to advance ETF applications for XRP, LTC and SOL
Trump Family Crypto Project WLFI Plans to Create a “Strategic” Token Reserve
Justin Sun sues David Geffen over $78.4 million of art, alleging it was stolen by his art consultant
Franklin Templeton seeks SEC approval for new cryptocurrency index ETF
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