Multiple key officials from the Federal Reserve will speak intensively this week, with the market focusing on the core PCE price index.
Author: TechFlow
Market Dynamics Yesterday
Analysis: Real bullish buying of Bitcoin ETFs accounts for only 44%, with over half of the funds flowing in possibly for arbitrage trading
According to 10x Research, since the launch of the Bitcoin spot ETF in January 2024, it has attracted a net inflow of $38.6 billion, but only $17.5 billion (about 44%) is actual bullish buying.
The research indicates that over half (56%) of the inflow may be related to arbitrage strategies, where traders short Bitcoin futures to hedge ETF positions.
Kanye West denies selling X account to Bark
On February 24, Kanye West responded to a post by Bark (@barkmeta) that included a screenshot suggesting control of his account, stating, "This is fake, I don’t know this person. Following others casually was fun ten years ago, but now as a wealthy person who has been deceived by so-called 'friends', this cryptocurrency opportunity scam has reached new heights."
Kanye further emphasized that when he truly launches a cryptocurrency project, he will announce it in a formal and clear manner. Previously, several crypto KOLs pointed out that Kanye's account might have been sold, citing unusual changes such as the system interface switching from dark mode to light mode and new follows of Doginal-related accounts.
Bybit launches "Bounty Recovery Program," offering rewards up to 10% of stolen funds
According to an official announcement, Bybit has officially launched the "Bounty Recovery Program," calling on elites in the global cybersecurity and crypto analysis fields to jointly investigate the perpetrators of the largest theft in crypto history.
Contributors who successfully recover funds will receive a 10% reward, with the total bounty based on the verifiable recoverable amount of stolen ETH valued at over $1.4 billion at the time of the incident. If all funds are recovered, the total bounty could reach $140 million.
Individuals or organizations interested in participating in the "Bounty Recovery Program" should email: bounty_program@bybit.com
This Week's Macro Outlook: Multiple key Federal Reserve officials to speak intensively, market focuses on core PCE price index
According to Jin10, multiple key officials from the Federal Reserve will speak intensively this week, including 2026 FOMC voter Logan, Fed Governor Barr, 2027 FOMC voter Barkin, and Bostic.
The minutes from the Fed's January meeting indicated that officials need to see further declines in inflation before considering rate cuts and expressed concerns about the inflationary impact of new tariff policies proposed by the Trump administration. Following the release of strong CPI data, the U.S. core PCE price index to be released this week will become the market's focus.
According to a foreign media survey, economists generally expect the Fed's first rate cut to be delayed until July. Economists from the United States Trust Bank stated that due to tariffs, a strong job market, and Congress extending tax cuts, long-term interest rates in 2025 may remain at current levels.
Donald Trump Jr.: Will speak at DeFi World 2025 this Wednesday
Donald Trump Jr. announced on social media that he will speak at the DeFi World 2025 conference this Wednesday (February 26).
FTX creditor representative: Users from China, Russia, and other five regions currently unable to participate in compensation, with Chinese users accounting for 8%
FTX creditor representative Sunil revealed that many FTX claim users currently come from jurisdictions temporarily unable to participate in the distribution, including: Russia, China, Egypt, Nigeria, and Ukraine. FTX is reviewing relevant solutions. Among them, the number of Chinese users is the largest, accounting for 8% of the total customer base.
Kanye West plans to issue YZY token, with personal share of 70%
Famous rapper Kanye West plans to launch the cryptocurrency YZY. According to three insiders of the project, in the token distribution plan, Kanye will personally receive a 70% share, with 10% for liquidity supply and 20% for investors. The YZY token will serve as the official currency of the Yeezy brand and can be used for payments on its website.
On February 22, Kanye West posted on the X platform, "Currently, all tokens are fake, I will launch next week."
Montana House of Representatives votes down Bitcoin reserve bill
According to Cointelegraph, the Montana House of Representatives voted 41-59 against a bill (HB 429) that would include Bitcoin as a state reserve asset. The bill originally planned to establish a special revenue account to invest in precious metals, stablecoins, and digital assets with an average market value exceeding $75 billion over the past year (currently only Bitcoin meets the criteria). Several Republican lawmakers believe this investment is too risky and unsuitable for taxpayer funds.
CZ: Inclined to use funds from donation address to provide liquidity to give back to the community
CZ updated on social media regarding the use of funds from his donation address: "I might combine the funds. Let's see which combination works well.
Many people suggested donating to charities, which I support. I like to do charity with cryptocurrency. My requirement for charities is that the receiving organization must enable cryptocurrency and must allow tracking to the final beneficiaries. Transparency. Suggestions are welcome.
Some 'other projects' suggested destroying the received tokens. I understand the meaning behind that.
Airdrops require the most effort in wallet operations, and choosing who to airdrop to will also cause more 'debate'.
Some suggested adding to LP. I did some tests yesterday. I think I may have finally grasped the trick. From this address, the MEV experience is very accurate. A great learning experience. And an interesting weekend practice. I know it’s just a few years late.
Currently, I am inclined to do more to support liquidity. I don’t care whether the funds in this address are making money or losing money. I think this is also an indirect way to give back to our community."
Ethereum core developer: Ethereum rollback is almost impossible to achieve, may lead to irreparable chain reactions
In response to the February 21 hack of Bybit that resulted in a loss of $1.5 billion, Ethereum core developer Tim Beiko stated that although some in the crypto industry are calling for the Ethereum network to be restored to its pre-attack state, from a technical perspective, this is almost impossible to achieve.
Beiko emphasized that unlike the 2016 TheDAO hack, this attack did not violate Ethereum protocol rules, and a rollback would lead to widespread and irreparable chain reactions, potentially causing more destructive consequences than the hacker's losses. Additionally, a rollback would reverse all settled on-chain transactions but could not reverse off-chain transactions.
Data: SUI, OP, ZETA, and other tokens will see large unlocks this week
According to Token Unlocks data, tokens such as SUI, OP, and ZETA will see large unlocks this week, including:
Sui (SUI) will unlock approximately 22.97 million tokens at 8 AM Beijing time on March 1, accounting for 0.74% of the current circulation, valued at approximately $77.6 million;
Optimism (OP) will unlock approximately 31.34 million tokens at 8 AM Beijing time on February 28, accounting for 1.93% of the current circulation, valued at approximately $36.7 million;
ZetaChain (ZETA) will unlock approximately 44.26 million tokens at 8 AM Beijing time on March 1, accounting for 6.48% of the current circulation, valued at approximately $15 million;
AltLayer (ALT) will unlock approximately 240 million tokens at 6 PM Beijing time on February 25, accounting for 9.41% of the current circulation, valued at approximately $11.6 million;
dydx (DYDX) will unlock approximately 8.33 million tokens at 8 AM Beijing time on March 1, accounting for 1.14% of the current circulation, valued at approximately $6.7 million;
Sleepless AI (AI) will unlock approximately 18.21 million tokens at 8 AM Beijing time on March 1, accounting for 14.01% of the current circulation, valued at approximately $5.1 million.
Market Dynamics
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