OSL Trading Time: 27 US states pay attention to BTC, Bitcoin and Ethereum are still showing a positive trend

1. Market observation

Keywords: SOL, ETH, BTC

The cryptocurrency market has been mixed lately. Despite the volatility of Bitcoin prices, Michael Saylor, co-founder of Strategy (formerly MicroStrategy), remains optimistic and plans to make a new round of Bitcoin purchases on Monday. Although analyst Dave the Wave warns of a possible sharp downside correction and a decline in network activity, experts such as Chris Burniske believe that Bitcoin still has room to rise. It is worth noting that 27 US states have shown strong interest in Bitcoin, among which Kentucky and Maryland lawmakers have proposed "Bitcoin Reserve" bills respectively, and Florida senators have also proposed Bitcoin investment bills. In terms of institutional investment, institutions such as the University of Austin have launched Bitcoin investment funds, showing that institutional investors are still confident.

The Ethereum market also faces challenges and opportunities. Despite its profit supply hitting a four-month low, spot ETFs recorded a net inflow of $420 million last week, and all ETF products had no net outflows. However, according to the Matrixport report, ETH's market share has dropped to 10%, and prices may continue to be under pressure. In terms of regulation, the US SEC has postponed the decision on BlackRock's Ethereum ETF options trading to April 9. It is worth mentioning that the Ethereum Foundation transferred 50,000 ETH to the DeFi wallet, and the Hong Kong Investment Promotion Agency approved an investment immigration application with ETH as asset proof.

Compliance issues in the industry remain challenging. The former deputy director of the Beijing Financial Bureau was sentenced to 11 years in prison for using Bitcoin to launder money. On the other hand, rapper Kanye West said he had rejected a $2 million proposal to launch the RUG plate Meme coin. In the current financial market environment, the traditional safe-haven asset gold still performs better than Bitcoin, especially under the influence of factors such as the new tariff plan. Despite this, Bitcoin and Ethereum still maintain their dominance compared to competitors such as Solana and XRP. The continued inflow of institutional funds, the active promotion of Bitcoin-related legislation by states, and the recognition of ETH in regions such as Hong Kong all indicate that the future of Bitcoin and Ethereum remains bullish.

2. Key data (as of 18:30 HKT on February 10)

S&P 500: 6,025.99 (+2.45% year-to-date)
Nasdaq: 19,523.40 (+1.1% year-to-date)
10-year Treasury yield: 4.495% (-8.6 basis points year-to-date)
US dollar index: 108.212 (-0.24% year-to-date)
Bitcoin: $97,924.76 (+4.62% year-to-date), with a daily spot volume of $37,633.5 million
Ethereum: $2,647.26 (-20.45% year-to-date), with a daily spot volume of $20,755.4 million