1. Market observation
Keywords: ETH, ETF, BTC
Recently, Bitcoin has fallen sharply from its peak of $102,000 due to the strengthening of the US dollar and rising US Treasury yields. The price fell below $92,000, resulting in the retracement of most of the gains since the beginning of 2025, and triggered $862.4 million in liquidations in the past two days. Despite this, large transaction volume still increased by 9%.
There is a clear divergence of market opinions: on the one hand, veteran trader Tone Vays chose to "go all long" on Bitcoin after the pullback and is optimistic about the future performance; on the other hand, some analysts believe that the Bitcoin bull market may be entering the late stage and is expected to end soon. At the same time, other cryptocurrency markets, including Dogecoin and emerging Ethereum token WallitlQ, have mixed performances, but still show the potential for an explosive rebound.
It is worth noting that the surge in open interest indicates that market volatility may further increase. At the same time, Bitcoin is facing multiple challenges: the latest FOMC meeting minutes of the Federal Reserve show that the pace of interest rate cuts may slow down, and the development of quantum technology also brings potential risks. However, market innovation continues to advance. Bitstamp announced that it will launch Ripple's stablecoin RLUSD on the Ethereum network, reflecting the continued development of the cryptocurrency ecosystem. In addition, Fidelity Digital Assets predicts that Bitcoin will be widely adopted as early as 2025, injecting long-term development confidence into the market.
2. Key data (as of 12:10 HKT on January 10)
S&P 500: 5,918.25 (+0.62% year-to-date)
Nasdaq: 19,478.88 (+0.87% year-to-date)
10-year Treasury yield: 4.685% (+10.40 basis points this year)
US dollar index: 109.291 (+0.68% year-to-date)
Bitcoin: $93,667.48 (+0.04% year-to-date), with a daily spot volume of $62.77 billion
Ethereum: $3,255.38 (-2.52% year-to-date), with a daily spot volume of $29.371 billion
3. ETF flows (January 8 EST)
Bitcoin ETF: -$583 million
Ethereum ETF: -$159 million
4. Important Dates (Hong Kong Time)
FOMC meeting minutes (January 9, 03:00 am)
Non-farm payrolls data (January 10, 21:30)
Actual: To be announced / Previous value: 227,000 / Expected: 150,000
Unemployment rate (January 10, 21:30)
Actual: To be announced / Previous value: 4.2% / Expected: 4.2%
5. Hot News
Former British Prime Minister Truss says he is a supporter of Bitcoin and cryptocurrencies
Bithumb to List SONIC, SAFE, and AHT in Korean Won Market
Tether CEO: Will give a speech at Italian AI Week in May to introduce Tether’s AI strategy
Russia ‘begins selling’ 1,032 Bitcoins seized in fraud case
Ethereum and Solana Staking No Longer Classified as Collective Investment Schemes in the UK
InfiniGods plans to launch its native token GOD, 17% of which will be allocated to its NFT holders
VanEck executive: Block is expected to become the first company in the S&P 500 to hold Bitcoin
Coinbase International will launch AERO, BEAM and DRIFT perpetual contracts Zhou Xiaochuan: Global public debt is about to exceed 100 trillion US dollars, and the impact of crypto assets on global finance needs to be vigilant
Fidelity’s Spot Bitcoin and Ethereum ETFs Both Recorded Their Largest Single-Day Net Outflows
Standard Chartered Bank obtains Luxembourg license to provide digital asset custody services
BIO Protocol expands to Solana chain, with Wormhole providing bridge services
IMF recommends Kenya to develop clear cryptocurrency regulatory framework
Kava plans to become a DeAI blockchain and will announce its AI development roadmap in January
Analog Announces 1:100 Split of ANLOG Tokens
Binance will launch Dar Open Network (D) perpetual contract, supporting up to 75x leverage
Oklahoma lawmaker proposes Bitcoin Freedom Act to allow employees to receive wages in Bitcoin
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