OSL Trading Hours: BTC trading activity drops sharply, ETH will have difficulty returning to the $2,800 mark in the short term

1. Market observation

Keywords: ETF, ETH, BTC

Ethereum is currently struggling to break through the $2,800 mark, bringing uncertainty to short-term price trends. In terms of institutional investment, the Wisconsin Investment Board (SWIB) and Barclays have adjusted their cryptocurrency portfolios, reducing exposure to Grayscale Bitcoin Trust ETF while increasing holdings in BlackRock iShares Bitcoin ETF. It is worth noting that the Abu Dhabi sovereign wealth fund has also purchased hundreds of millions of dollars in BlackRock Bitcoin ETF.

In regulatory developments, the New York Stock Exchange (NYSE) has applied to the U.S. Securities and Exchange Commission (SEC) to introduce staking services in the Grayscale Ethereum ETF, which could bring additional returns to investors. Meanwhile, a federal judge in Texas has paused the SEC's case against Bitcoin miner Geosyn after filing criminal charges against three executives.

Regarding the future prospects of Bitcoin, market opinions are divided: some are optimistic about a breakthrough, while others believe that Bitcoin is less likely to break through $200,000 in this decade. It is worth noting that Bitcoin trading activity has declined significantly in 2025, which may be related to the unstable mining environment. However, at the government level, Michigan proposed to establish a strategic Bitcoin reserve, showing the state government's positive attitude towards cryptocurrencies.

2. Key data (as of 10:30 HKT on February 17)

S&P 500: 5,005.57 (+4.92% year-to-date)
Nasdaq: 15,906.17 (+5.95% year-to-date)
10-year Treasury yield: 4.295% (+41.5 basis points this year)
US dollar index: 104.27 (+2.96% year-to-date)
Bitcoin: $52,168 (+22.14% year-to-date), with a daily spot volume of $29.86 billion
Ethereum: $2,789 (+15.23% YTD), with daily spot volume of $14.28 billion

L3代币认领合约近1小时消耗27.3枚ETH，ETH上gas价格升至40 gwei以上

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