1. Market Observation
Keywords: MicroStrategy, BTC, ETP
MicroStrategy has announced a rebranding plan, adopting the name "Strategy" to enhance its focus on Bitcoin. The company's recently reported fourth-quarter revenue was $120.7 million, a 3% decline from last year, with a net loss of $670.8 million. Meanwhile, Arbitrum has partnered with BitcoinOS to introduce its Ethereum-based Layer 2 scaling solution to the Bitcoin network. Despite global market uncertainties and escalating trade tensions between the U.S. and China, if the U.S. implements Senator Lummis's plan to acquire 5% of the Bitcoin supply, the price of Bitcoin is expected to reach $500,000.
According to data from CryptoQuant, Tron’s network fee revenue has surpassed that of Ethereum. Analyst and trader Jason Pizzino anticipates a bullish reversal for Ethereum, Solana, and XRP following the market adjustment. However, as market sentiment turns negative, Bitcoin's price may fall below $94,000 again.
Cryptocurrency investment continues, with BlackRock planning to list a Bitcoin ETP in Europe. Previously, the company successfully launched IBIT in the U.S. last year and an ETP in Canada. Bitdeer also plans to invest $120 million to establish Bitcoin mining facilities in Canada. Despite market volatility, super-rich individuals remain optimistic about Bitcoin, according to Tiger21 founder Michael Sonnenfeldt.
2. Key Data (as of February 7, 09:38 HKT)
S&P 500: 6,083.57 points (YTD +3.43%)
Nasdaq: 19,791.99 points (YTD +2.49%)
10-Year U.S. Treasury Yield: 4.440% (YTD -13.60 basis points)
Dollar Index: 107.75 (YTD -0.68%)
Bitcoin: $96,796 (YTD +3.62%), daily spot trading volume of $4.39 billion
Ethereum: $2,706.92 (YTD -19.07%), daily spot trading volume of $29.74 billion
3. ETF Flows (February 6 EST)
Bitcoin ETF: -$140.2 million
Ethereum ETF: $0 million
4. Important Dates (HKT)
U.S. JOLTS Job Openings (February 4, 11:00 PM)
- Actual: 7.6 million / Previous: 8.16 million / Expected: 8 million
Non-Farm Payrolls (February 7, 9:30 PM)
- Actual: To be announced / Previous: 256,000 / Expected: 170,000
Unemployment Rate (February 7, 9:30 PM)
- Actual: To be announced / Previous: 4.1% / Expected: 4.1%
5. Hot News
U.S. Federal Deposit Insurance Corporation Releases 175 Crypto-Related Bank Regulatory Documents
MicroStrategy Q4 Financial Report: Net Loss of $670.8 Million, Acquired Over 210,000 BTC
Utah's Bitcoin Investment Legislation Passes in the House
Foreign Media: U.S. SEC Appears Ready to Advance ETF Applications for XRP, LTC, and SOL
Czech President Signs New Law Exempting Capital Gains Tax on Bitcoin Held for Over 3 Years
Trump Family's Crypto Project WLFI Plans to Create "Strategic" Token Reserves
Insiders: Crypto Exchange Gemini Considering IPO as Early as This Year
Justin Sun Sues David Geffen Over $78.4 Million Collection, Claims It Was Stolen by His Art Advisor
Franklin Templeton Seeks SEC Approval for New Cryptocurrency Index ETF
Ethereum Pectra Upgrade Set to Begin Testing in February, Expected to Launch on Mainnet in April
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