1. Market observation
Keywords: XRP, ETF, BTC
JPMorgan analysts predict that Bitcoin's dominance over Ethereum and altcoins will continue until 2025. With a significant increase in institutional investment and increasing mainstream adoption, the market expects that the price of Bitcoin may exceed $300,000 by the end of 2025. Although Bitcoin still dominates the market, Ethereum (ETH) has also shown strong momentum recently. Although the rise has slowed down, the price of ETH still recorded a 4% increase.
At the same time, cryptocurrencies are gaining wider recognition around the world. Texas and Oklahoma have proposed bills to establish Bitcoin reserves, and the Thai Securities and Exchange Commission is also actively considering listing a Bitcoin ETF. In Switzerland, the state-owned bank PostFinance has launched an Ethereum staking service, marking its official entry into the digital asset field.
However, there are some concerns in the market. U.S. Senator Cynthia Lummis questioned the U.S. Marshals Service's plan to liquidate nearly 70,000 bitcoins (worth billions of dollars). At the same time, Aave token holders also expressed reservations about the DeFi lending protocol's proposal to enter Bitcoin mining.
2. Key data (as of 09:22 HKT on January 17)
S&P 500: 5,937.34 (+0.95% year-to-date)
Nasdaq: 19,338.29 (+0.14% year-to-date)
10-year Treasury yield: 4.619% (+4.30 basis points this year)
US dollar index: 108.96 (+0.72% year-to-date)
Bitcoin: $100,060 (+7.14% year-to-date), with a daily spot volume of $48.89 billion
Ethereum: $3,323.96 (-0.62% year-to-date), with a daily spot volume of $246 million
3. ETF flows (January 16 EST)
Bitcoin ETF: +$93.89 million
Ethereum ETF: -$14.64 million
4. Important Dates (Hong Kong Time)
Core inflation rate year-on-year (January 15, 21:30)
Actual: 3.2% / Previous: 3.3% / Expected: 3.3%
Year-on-year inflation rate (January 15, 21:30)
Actual: 2.9% / Previous: 2.7% / Expected: 2.9%
Retail sales year-on-year (January 16, 21:30)
Actual: 0.4% / Previous: 0.8% / Expected: 0.6%
5. Hot News
Multicoin proposes to adjust the SOL inflation mechanism to a market-driven model
Trump plans to make cryptocurrency a national priority
Bloomberg ETF Analyst: Approval of Solana or XRP ETF is just a matter of time
Trump's Treasury Secretary Nominee Bessant: No Reason to Support Central Bank Digital Currency
Coinbase International will launch AIXBT, PNUT and VET perpetual contracts
Market News: Nasdaq has submitted 19b-4 application documents for Canary Capital’s Litecoin ETF
Fed Governor Waller: If data performs well, there may be three or four rate cuts this year
Market News: Grayscale Helium Trust Registered in Delaware
Oklahoma lawmaker proposes creating a strategic Bitcoin reserve
Swiss State-Owned Bank PostFinance Expands Its Crypto Business by Launching Ethereum Staking
Coinbase Reopens Bitcoin Loans for US Users Through DeFi Lending Protocol Morpho
XRP futures open interest hits record $7.7 billion
SOL's market value surpasses BNB and ranks back to fifth
Binance Alpha adds LLM, SEKOIA, and PYTHIA
Ronin launches $10 million ecosystem funding plan
Bithumb will launch AGLD, CBK, HPO Korean Won trading markets
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