1. Market Observation
Keywords: ETF, ETH, BTC
A recent series of developments is having a profound impact on the global cryptocurrency market. Although China still prohibits the direct operation of Bitcoin exchanges, there are signs that the cryptocurrency ETF launched in Hong Kong may gain trading opportunities in mainland China. This potential breakthrough resonates with legislative movements in Texas, USA—where the state senate is considering a Bitcoin reserve plan utilizing its $24 billion sovereign wealth fund. At the same time, regulators may approve staking ETFs, which are seen as a key measure to attract institutional investment.
Against the backdrop of these policies and market dynamics, the cryptocurrency market has recently experienced significant volatility. Bitcoin's price has fallen below $80,000 for the first time since November 2024, although optimistic forecasts still expect it to rebound to $500,000. Similarly, the Ethereum market has also been severely impacted, with its price dropping below $2,150, accompanied by a massive sell-off of over 440,000 ETH. These fluctuations occur in an overall sluggish market environment, with large transaction volumes significantly declining and daily active addresses also decreasing, further exacerbating market uncertainty.
Predictions regarding the future direction of the market show divergence. Some analysts believe that Bitcoin may fall into a unidirectional pattern, limiting its ability to break through in the next four months; however, others are more optimistic, expecting Bitcoin to rebound to profitable levels. Among them, a former Goldman Sachs analyst even predicts that Bitcoin could break the $200,000 mark, with this growth momentum primarily driven by the active participation of large financial institutions.
Despite the recent market experiencing large-scale sell-offs and price fluctuations, the cryptocurrency sector still shows potential for recovery and growth. Global developments, including potential legislative reforms, capital investment strategies, and positive financial forecasts, are continuously shaping the landscape of the cryptocurrency market and providing new opportunities and challenges for investors.
2. Key Data (as of February 28, 12:30 HKT)
S&P 500: 5,861.57 points (YTD -0.34%)
Nasdaq: 18,544.42 points (YTD -3.97%)
10-Year U.S. Treasury Yield: -7.71% (YTD -35.30 basis points)
U.S. Dollar Index: 107.365 (YTD -1.02%)
Bitcoin: $80,500.32 (YTD -5.16%), daily spot trading volume of $24.81856 billion
Ethereum: $2,139.98 (YTD -35.850%), daily spot trading volume of $30.455 billion
3. ETF Flows (February 27, EST)
Bitcoin ETF: -$275.8 million
Ethereum ETF: -$71.08 million
4. Important Dates (Hong Kong Time)
GDP Quarterly Growth Rate Second Estimate (February 28, 21:30)
- Actual: None / Previous: 3.1% / Expected: 2.3%
Core PCE Price Index Month-on-Month (February 28, 21:30)
- Actual: None / Previous: 0.2% / Expected: 0.3%
Personal Consumption Expenditures Month-on-Month (February 28, 09:30)
- Actual: None / Previous: 0.7% / Expected: 0.2%
5. Hot News
Huaxia Fund (Hong Kong) Successfully Launches Asia-Pacific's First Retail Tokenized Fund
BTC Falls Below $80,000, Down 6.58% Intraday
Bithumb to Launch SHELL/KRW Trading Pair
OpenAI GPT-4.5 API Officially Launched
U.S. Stock Market Close: Nasdaq Plummets 2.7%, Nvidia Falls Over 8%
Uniswap Integrates Robinhood, MoonPay, Transak, Launches Fiat Withdrawal Feature
SEC Plans to Withdraw Enforcement Action Against ConsenSys and Its MetaMask
Insiders: BitMEX Seeks Sale, Has Engaged Investment Bank Broadhaven for Assistance
Coinbase and NEAR Establish Open AI Alliance to Promote Decentralized AI Services
SEC Qualifies: Meme Coins Are Not Securities, Investors Must Bear Risks
Standard Chartered: Bitcoin Could Reach $500,000 Before Trump's Departure
U.S. Initial Jobless Claims for the Week Ending February 22 Recorded at 242,000
CryptoQuant CEO: At Least Another Month Needed to Confirm Whether Entering Bear Market
Pakistan Considering Establishing Cryptocurrency Committee to Oversee Crypto Policies
Metaplanet to Issue 2 Billion Yen Zero-Coupon Ordinary Bonds to Purchase BTC
Binance HODLer Airdrop Launches MyShell (SHELL)
Bitwise Aptos ETF Officially Registered in Delaware, Entity Type is Statutory Trust
DTCC Lists First Solana Futures ETFs, Codes $SOLZ and $SOLT
Today's Fear and Greed Index Drops to 10, Hitting a New Low Since June 2024
Trump: Will Soon Announce 25% Tariff on the EU
Supported by OSL - Hong Kong's largest over-the-counter trading platform, continuously providing regulated digital asset services to the market since 2018.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
