OSL Trading Time: Market shock adjustment, traditional institutions accelerate the launch of crypto investment tools

Market Observation: MicroStrategy rebranded to focus on Bitcoin, reporting a Q4 net loss of $670.8M. Arbitrum partners with BitcoinOS to bring Ethereum scaling to Bitcoin. Bitcoin could hit $500K if the U.S. acquires 5% of its supply. Tron’s fee revenue surpassed Ethereum, while analysts predict bullish reversals for Ethereum, Solana, and XRP. BlackRock plans a Bitcoin ETP in Europe, and Bitdeer invests $120M in a Canadian mining facility.
Key Data (Feb 7, 09:38 HKT):
- S&P 500: 6,083.57 (+3.43% YTD)
- Nasdaq: 19,791.99 (+2.49% YTD)
- 10-year Treasury yield: 4.440% (-13.60bps YTD)
- Bitcoin: $96,796 (+3.62% YTD), daily spot volume $43.9B
- Ethereum: $2,706.92 (-19.07% YTD), daily spot volume $29.74B
ETF Flows (Feb 6 EST): Bitcoin ETF saw outflows of $140.2M, while Ethereum ETF remained flat.
Important Dates:
- US JOLTS job vacancies: Actual 7.6M vs. expected 8M.
- Non-farm payrolls and unemployment rate data pending release.
Hot News Highlights:
- US FDIC released 175 crypto-related bank regulatory documents.
- MicroStrategy Q4 report shows a net loss of $670.8M and 210K+ BTC purchased.
- Utah passed Bitcoin investment legislation; Czech Republic exempts long-term Bitcoin holdings from capital gains tax.
- SEC may advance ETF applications for XRP, LTC, and SOL; Cboe files for XRP spot ETFs.
- Ethereum Pectra upgrade testing begins, targeting April mainnet launch.
- Gemini considers an IPO; Franklin Templeton seeks SEC approval for a crypto index ETF.

1. Market observation

Keywords: MicroStrategy, BTC, ETP

MicroStrategy unveiled a rebranding plan, adopting the name "Strategy" to strengthen its focus on Bitcoin. The company recently reported fourth-quarter revenue of $120.7 million, down 3% from last year, and a net loss of $670.8 million. Meanwhile, Arbitrum has partnered with BitcoinOS to bring its Ethereum-based second-layer scaling solution to the Bitcoin network. Despite uncertainty in global markets and rising trade tensions between the United States and China, the price of Bitcoin is expected to reach $500,000 if the United States implements Senator Lummis' plan to acquire 5% of the Bitcoin supply.

According to CryptoQuant, Tron’s network fee revenue has surpassed Ethereum. Analyst and trader Jason Pizzino expects Ethereum, Solana, and XRP to see a bullish reversal after the market correction. However, as market sentiment turns negative, Bitcoin’s price could fall below $94,000 again.

Cryptocurrency investments continue, with BlackRock planning to list a Bitcoin ETP in Europe. This follows the successful launch of IBIT in the U.S. and ETP in Canada last year. Bitdeer also plans to invest $120 million to build a Bitcoin mining facility in Canada. Despite market volatility, the super-rich remain bullish on Bitcoin, according to Tiger21 founder Michael Sonnenfeldt.

2. Key data (as of 09:38 HKT on February 7)

S&P 500: 6,083.57 (+3.43% year-to-date)
Nasdaq: 19,791.99 (+2.49% year-to-date)
10-year Treasury yield: 4.440% (-13.60 basis points year-to-date)
US dollar index: 107.75 (-0.68% year-to-date)
Bitcoin: $96,796 (+3.62% YTD), with daily spot volume of $43.9 billion
Ethereum: $2,706.92 (-19.07% year-to-date), with a daily spot volume of $29.74 billion