1. Market Observation
Keywords: DeepSeek, ETH, BTC
The crypto market has been dynamic recently. The Ethereum Foundation has launched its first DeFi program, transferring $165 million in ETH to a multi-signature wallet. Institutional participation continues to increase, with listed companies like Tesla, MicroStrategy and Coinbase becoming major Bitcoin buyers. It is worth noting that Grayscale and CoinShares have filed regulatory documents to launch ETFs tracking XRP, Litecoin and Solana, while Nasdaq has also applied to the SEC to allow the iShares Bitcoin Trust to physically transfer. Although the Trump administration is investigating the possibility of establishing a national digital asset reserve, the Bitcoin price is still consolidating around $105,264.
Market data shows that whale accounts have accumulated 200,000 BTC in the past month, which may signal a new round of uptrend. Especially considering that $7.8 billion in Bitcoin options will expire at the end of this month, market volatility may intensify. Meanwhile, as large investors have acquired $3.7 billion in ETH, the market generally believes that Ethereum breaking $7,000 is "inevitable". MicroStrategy continues to execute its Bitcoin accumulation strategy, with co-founder Michael Saylor releasing the 12th Bitcoin tracking report.
It is worth noting that in the tech sector, there are new breakthroughs, with AI company DeepSeek's excellent performance sparking heated discussion online and successfully topping the free app download chart in the Apple US region. However, US tech stocks have been weak, with the semiconductor sector generally declining in after-hours trading, with industry leaders Nvidia, TSMC, Broadcom and AMD all falling, which may have a knock-on effect on the crypto market.
In terms of market expectations, analysts predict that Ethereum may rise 378% against Bitcoin. Surveys show that 47.8% of respondents expect BTC to continue rising this week, while 49.3% expect the XRP ETF to be the first to be approved. Meanwhile, crypto investment firm Paradigm has called for Ethereum to accelerate its update cycle to maintain competitiveness. As Bitcoin consolidates above $100,000, the application of cryptocurrencies is also expanding, with Russia's largest energy supplier Rosseti and Brazil's national oil company announcing the launch of Bitcoin mining businesses.
2. Key Data (as of January 24, 09:34 HKT)
S&P 500: 6,101.24 (+3.73% YTD)
Nasdaq: 19,954.30 (+3.33% YTD)
10-year US Treasury yield: 4.591% (+1.0 bps YTD)
US Dollar Index: 107.645 (-0.77% YTD)
Bitcoin: $101,692 (+8.69% YTD), daily spot trading volume of $27.03 billion
Ethereum: $3,193.44 (-4.42% YTD), daily spot trading volume of $19.22 billion
3. ETF Flows (January 24 EST)
Bitcoin ETF: +$518 million
Ethereum ETF: +$91.8 million
4. Important Dates (Hong Kong Time)
A-shares and Hong Kong stocks will be closed from January 28 to February 4
FOMC rate decision announcement (January 30, 3:00)
Fed Chair Powell's monetary policy press conference (January 30, 3:30)
ECB rate decision announcement (January 30, 21:15)
US Q4 GDP annualized QoQ advance (January 30, 21:30)
Actual: TBD / Prior: 3.10% / Expected: 2.70%
US Q4 PCE QoQ annualized advance (January 30, 21:30)
Actual: TBD / Prior: 3.70% / Expected: 3.10%
US December core PCE YoY (January 31, 21:30)
Actual: TBD / Prior: 2.80% / Expected: N/A
5. Hot News
This Week's Preview | Abstract mainnet launch; Sui (SUI) to unlock tokens worth over $260 million
Russia's largest energy supplier Rosseti to launch crypto mining business
DeepSeek surpasses ChatGPT, tops Apple US free app download chart
CZ reveals he first bought BTC in early 2014 at around $600
Jupiter announces burning of 300 million JUP tokens
Data: SUI, OP, TRIBL tokens to see large unlocks, with SUI unlocking $265 million
Jupiter: 50% of protocol fees to be used for JUP buybacks
Brazil's national oil company to conduct Bitcoin mining in R&D projects, explore tokenization
THORChain: Launching 90-day restructuring plan, suspending THORFi lending and savings redemption
Pudgy Penguins CEO: Abstract mainnet to launch on Monday
'Breaking Bad' actor Dean Norris' X account hijacked again to promote fake tokens
Survey: 47.8% expect BTC to rise this week, 49.3% expect XRP ETF to be first approved
xAI's GROK now supports real-time display of stock and crypto prices
CZ: 40% of respondents have never bought BNB, only 21% have never bought meme coins
OKX to list VINE (Vine Coin) spot trading
Dennis Porter calls for $200 crypto micro-transaction tax exemption
Dragonfly partner predicts US govt may launch AVAX-based public spending reporting system
Eric Trump confirms US domestic crypto projects to enjoy zero capital gains tax
$7.8 billion in Bitcoin options to expire at the end of this month
Musk exploring using blockchain tech to improve US government efficiency
JupiterDAO: Jupiter launches Omnichain network "Jupnet"
Nasdaq applies to SEC to allow physical transfer of iShares Bitcoin Trust
Grayscale and CoinShares file regulatory documents to propose ETFs tracking XRP, Litecoin and Solana
Coinbase International will list TOSHI, GIGA and GRT perpetual contract trading
Supported by OSL - Hong Kong's largest over-the-counter trading platform, providing regulated digital asset services to the market since 2018.
