OSL Trading Time: Multiple US states propose bills to establish BTC reserves, and the market expects BTC to exceed $300,000 by the end of the year

1. Market observation

Keywords: XRP, ETF, BTC

JPMorgan analysts predict that Bitcoin's dominance over Ethereum and altcoins will continue until 2025. With a significant increase in institutional investment and increasing mainstream adoption, the market expects that the price of Bitcoin may exceed $300,000 by the end of 2025. Although Bitcoin still dominates the market, Ethereum (ETH) has also shown strong momentum recently. Although the rise has slowed down, the price of ETH still recorded a 4% increase.

At the same time, cryptocurrencies are gaining wider recognition around the world. Texas and Oklahoma have proposed bills to establish Bitcoin reserves, and the Thai Securities and Exchange Commission is also actively considering listing a Bitcoin ETF. In Switzerland, the state-owned bank PostFinance has launched an Ethereum staking service, marking its official entry into the digital asset field.

However, there are some concerns in the market. U.S. Senator Cynthia Lummis questioned the U.S. Marshals Service's plan to liquidate nearly 70,000 bitcoins (worth billions of dollars). At the same time, Aave token holders also expressed reservations about the DeFi lending protocol's proposal to enter Bitcoin mining.

2. Key data (as of 09:22 HKT on January 17)

• S&P 500: 5,937.34 (+0.95% year-to-date)

• Nasdaq: 19,338.29 (+0.14% year-to-date)

• 10-year Treasury yield: 4.619% (+4.30 basis points this year)

• US dollar index: 108.96 (+0.72% year-to-date)

• Bitcoin: $100,060 (+7.14% year-to-date), with a daily spot volume of $48.89 billion

• Ethereum: $3,323.96 (-0.62% year-to-date), with a daily spot volume of $246 million

3. ETF flows (January 16 EST)

• Bitcoin ETF: +$93.89 million

• Ethereum ETF: -$14.64 million

4. Important Dates (Hong Kong Time)

Core inflation rate year-on-year (January 15, 21:30)

• Actual: 3.2% / Previous: 3.3% / Expected: 3.3%

Year-on-year inflation rate (January 15, 21:30)

• Actual: 2.9% / Previous: 2.7% / Expected: 2.9%

Retail sales year-on-year (January 16, 21:30)

• Actual: 0.4% / Previous: 0.8% / Expected: 0.6%

5. Hot News

Digital art platform MakersPlace announces it will cease operations to support a smooth transition for artists and collectors

Multicoin proposes to adjust the SOL inflation mechanism to a market-driven model

Trump plans to make cryptocurrency a national priority

Bloomberg ETF Analyst: Approval of Solana or XRP ETF is just a matter of time

Trump's Treasury Secretary Nominee Bessant: No Reason to Support Central Bank Digital Currency

Coinbase International will launch AIXBT, PNUT and VET perpetual contracts

Market News: Nasdaq has submitted 19b-4 application documents for Canary Capital’s Litecoin ETF

Fed Governor Waller: If data performs well, there may be three or four rate cuts this year

Market News: Grayscale Helium Trust Registered in Delaware

Oklahoma lawmaker proposes creating a strategic Bitcoin reserve

Puffer Finance: CARROT will replace off-chain points in Season 2 and can then be converted into PUFFER tokens at an exchange rate

Swiss State-Owned Bank PostFinance Expands Its Crypto Business by Launching Ethereum Staking

Coinbase Reopens Bitcoin Loans for US Users Through DeFi Lending Protocol Morpho

XRP futures open interest hits record $7.7 billion

SOL's market value surpasses BNB and ranks back to fifth

Binance Alpha adds LLM, SEKOIA, and PYTHIA

Financial Times: Several pension funds in the UK and Australia have recently made small allocations to Bitcoin

Ronin launches $10 million ecosystem funding plan

Bithumb will launch AGLD, CBK, HPO Korean Won trading markets

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