1. Market Observation
Keywords: ETF, ETH, BTC
The Ethereum Foundation (EF) recently announced the establishment of a brand new advisory group called the Silviculture Society, aimed at promoting further development of the Ethereum ecosystem. However, this initiative has also sparked criticism within the Ethereum community regarding the direction of project development. A research paper proposed a new decentralized block construction model designed to encourage broader community participation and reduce the risks associated with Maximum Extractable Value (MEV). Meanwhile, the Ethereum Foundation has appointed Hsiao-Wei Wang and Tomasz Stańczak as co-executive directors in a leadership reshuffle, injecting new management strength into the foundation.
In the realm of crypto applications, Ethereum wallet MetaMask plans to launch native support for Bitcoin and Solana in the coming months. This move indicates that multiple cryptocurrencies are gaining wider acceptance and integration.
In the Bitcoin market, last Friday, Bitcoin showed strong recovery momentum driven by political and regulatory factors, with prices rising nearly 10%. However, despite positive signs in the market, outflows from Bitcoin ETFs reached $2.7 billion, reflecting investor uncertainty about the market and potential bear market risks. At the same time, Bitcoin's long-term development continues to advance. Michael Saylor, co-founder of Bitcoin company Strategy, has helped Bitcoin achieve $2.6 billion in revenue by early 2025. Although Bitcoin's market capitalization has reached $1.5 trillion, Ryan Chow, co-founder of Solv Protocol, pointed out that its utility development in the DeFi space remains slow due to infrastructure and regulatory barriers. However, as the regulatory environment gradually thaws and Ethereum-based DeFi continues to mature, Bitcoin's potential is being gradually unleashed.
Additionally, traditional financial institutions are accelerating their integration with crypto assets. Global leading asset management firm BlackRock has included its iShares Bitcoin ETF in some model portfolios and allocated 1-2% of shares to alternative investments. Nevertheless, the president of the Swiss National Bank still views cryptocurrencies as a "niche phenomenon" and remains cautious about their mainstream adoption. Volatility in the Bitcoin market persists. Some analysts predict that Bitcoin may experience further rebounds, while others warn of potential risk factors based on changes in the macroeconomic environment.
2. Key Data (as of March 3, 13:00 HKT)
S&P 500: 5,954.50 points (1.24% year-to-date)
Nasdaq: 18,847.28 points (-2.4% year-to-date)
10-Year U.S. Treasury Yield: -7.55% (-34.60 basis points year-to-date)
U.S. Dollar Index: 107.243 (-1.14% year-to-date)
Bitcoin: $92,560.38 (-0.77% year-to-date), daily spot trading volume of $68.4296 billion
Ethereum: $2,440.10 (-26.55% year-to-date), daily spot trading volume of $39.855 billion
3. ETF Flows (February 28 EST)
Bitcoin ETF: $9.434 million
Ethereum ETF: -$41.82 million
4. Important Dates (Hong Kong Time)
U.S. February ISM Manufacturing PMI (March 4, 23:00)
- Actual: N/A / Previous: 50.9 / Expected: 50.5
U.S. President Trump invited to deliver his first speech in Congress (March 4)
FOMC permanent voting member and New York Fed President Williams speaks at Bloomberg Investment Forum (March 5, 03:30)
U.S. February ADP Employment Change (10,000s) (March 5, 21:15)
- Actual: N/A / Previous: 18.3 / Expected: 14
U.S. EIA Crude Oil Inventory (10,000 barrels) for the week ending February 28 (March 5, 23:30)
- Actual: N/A / Previous: -233.2 / Expected: N/A
U.S. Initial Jobless Claims (10,000s) for the week ending March 1 (March 6, 21:30)
- Actual: N/A / Previous: 24.2 / Expected: 23.5
FOMC permanent voting member and New York Fed President Williams and Fed Governor Bowman participate in a panel discussion at the University of Chicago Booth School of Business organized U.S. Monetary Policy Forum (March 7)
U.S. President Trump hosts a cryptocurrency summit at the White House (March 7)
Fed Chair Powell speaks before the lunch session of the University of Chicago Booth School of Business 2025 U.S. Monetary Policy Forum (March 7)
U.S. February Unemployment Rate (March 7, 21:30)
- Actual: N/A / Previous: 4% / Expected: 4%
U.S. February Non-Farm Payrolls (10,000s) (March 7, 21:30)
- Actual: N/A / Previous: 14.3 / Expected: 15.3
North America begins Daylight Saving Time, with U.S. and Canadian financial market trading hours and economic data release times moving one hour earlier than Standard Time. (March 9, 14:00)
5. Hot News
CME Bitcoin Futures Set Record for Gap Exceeding $10,000
Metaplanet Announces Purchase of 156 Bitcoins
Cronos Proposes to Reissue 70 Billion Burned Tokens to "Create Cronos Strategic Reserves"
ADA Rises Over 70% in 24 Hours, Market Cap Ranks Eighth
David Sacks: Trump is Fulfilling His Promise to Make the U.S. the "World Cryptocurrency Capital"
Trump States That the Cryptocurrency Strategic Reserve Will Include Bitcoin and Ethereum
After Trump's Post, SOL, XRP, and ADA All Rise, with ADA Up 27.24% in 24 Hours
Greeks.Live: Most Traders Are Watching Whether $82,000 Can Hold on the Bitcoin Weekly Chart
Tether Treasury Mints 1 Billion USDT on Ethereum
CryptoQuant CEO: Ethereum Faces Internal Issues, Team May No Longer Trust Leadership
Michael Saylor: Bitcoin Achieved $2.6 Billion in Revenue in the First Two Months of 2025
Ethereum Foundation Appoints Hsiao-Wei Wang and Tomasz Stańczak as Co-Executive Directors
CZ Releases "Crazy Ideas for Token Issuance," but States No Personal Token Issuance Plans
Solana Co-Founder: Bitcoin is Insurance, Not an Investment, Ensuring Assets Don't Go to Zero
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