AICoin Daily Report (April 6)

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2 days ago

1. U.S. Treasury Secretary Says Bitcoin is Becoming a Store of Value

According to an interview with Tucker Carlson, U.S. Treasury Secretary Scott Bessent stated that Bitcoin is becoming a means of storing value. -Original

2. Musk Calls for Establishing a U.S.-Europe Free Trade Zone

3. Bitcoin Outperforms Stock Market as a Hedge Tool

As the U.S. stock market plummets, investors are viewing Bitcoin as a potential hedge tool, with the cryptocurrency market showing resilience. -Original

4. Bitcoin Developers Propose Hard Fork to Address Quantum Threats

The proposal outlines a plan to force the migration of all BTC on the network from traditional wallets to wallets protected by post-quantum cryptography. -Original

5. U.S. SEC Reviews Policies Related to Digital Assets

U.S. SEC Acting Chair Mark Uyeda issued a statement saying that under Executive Order 14192 "Releasing Prosperity Through Deregulation," in conjunction with the DOGE proposal, I have requested that the SEC staff immediately review the following staff statements: · Analysis framework for "investment contracts" in digital assets; · Sample letter regarding recent developments in the cryptocurrency market; · Staff statement regarding the "digital asset custody and qualified custodian status NAL" from the Wyoming banking department; · Staff statement regarding funds registered under the Investment Company Act investing in Bitcoin futures. The purpose of this review is to identify staff statements that align with current agency priorities for modification or withdrawal. -Original

6. Bitcoin Bull Market Cycle Ends, Reversal Requires Six Months

Odaily Planet Daily reports that CryptoQuant founder and CEO Ki Young Ju posted on X platform that the Bitcoin bull market cycle has ended for the following reasons: There is a concept in on-chain data called realized market cap. It works as follows: when BTC enters a blockchain wallet, it is considered a "buy," and when it leaves, it is considered a "sell." Using this idea, one can estimate the average cost basis of each wallet, multiplying it by the amount of BTC held to arrive at the total realized market cap, which is generally seen as the total capital that has entered the Bitcoin market through actual on-chain activity, while market cap is based on the latest trading prices on exchanges. When selling pressure is low, even small purchases can drive up prices, thereby increasing market cap. Strategy capitalizes on this by issuing convertible bonds and using the proceeds to buy Bitcoin, resulting in a book value of their held Bitcoin that far exceeds the actual capital invested. However, when selling pressure is high, even large purchases cannot change prices; for example, when Bitcoin's trading price approaches $100,000, the market volume is huge, but prices hardly change. The actual market cap shows how much real money has entered the market, while market cap reflects how prices respond. If actual market cap is growing but market cap is stagnant or declining, it means capital is flowing in, but prices are not rising—this is a typical bearish signal. On the other hand, if actual market cap is flat while market cap skyrockets, it indicates that even a small amount of new capital is pushing prices up—this is a bullish signal. What we are currently seeing is the former, where capital is entering the market, but prices are not responding, which is a typical characteristic of a bear market. In short: when small capital drives prices up, it is a bull market. When large capital cannot drive prices up, it is a bear market. Current data clearly points to the latter. Selling pressure could ease at any time, but historically, a true reversal takes at least six months—thus, a short-term rebound seems unlikely. -Original

7. Ark Invest Increases Holdings in Coinbase Stock

On Friday, Cathie Wood's Ark Invest increased its holdings of Coinbase stock by a total of 83,157 shares across its three ETFs, valued at approximately $13.4 million at current prices. Over the past week, Coinbase's stock price has dropped about 5% as the market has generally declined. -Original

The above is a selection of hot topics from the past 24 hours. For faster news, please download AiCoin (aicoin.com).

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