Digital Asset Market Observation: Bitcoin Breaks $117,000, Ethereum Returns to $3,000

Market Trends

Recently, the U.S. President announced comprehensive tariffs on most trade partners and imposed additional tariffs on Canadian imports. Although this move caused short-term fluctuations in the USD/CAD exchange rate, the overall market reaction remained stable, with major stock indices reaching new highs. The CEO of a large bank warned that the market's reaction to the threat of tariffs is insufficient and predicted that the probability of a Federal Reserve interest rate hike is higher than market expectations. There are divisions within the Federal Reserve regarding the policy path, and inflation data in the coming months will be a key indicator. Investors are currently turning their attention to the second quarter earnings season, with some analysts believing that profit expectations may have been overly pessimistically estimated.

In Hong Kong, the new digital asset development policy clearly includes it in the global financial center strategy, promoting several specific measures. Industry institutions actively participate in this transformation process, including the launch of tokenized fund products and supporting the compliant listing of stablecoins.

Cryptocurrency Market Performance

Bitcoin recently broke through $117,000, with on-chain data showing continuous fund inflows. Analysts expect that large-scale selling is unlikely before $130,900, and some models indicate a potential further increase of 20% in the next two months. On the Ethereum side, it surpassed $3,000 driven by large institutional purchases, with ETF trading volume hitting the second-highest in history. Historical patterns show that Ethereum often quickly rises to around $4,000 after breaking through $2,800.

The altcoin market has generally risen, with several newly launched tokens performing well. Among them, HYPER has increased by over 455% on a certain trading platform, leading in trading volume. Projects like BANANAS31 and MemeCore on the BNB Chain have also seen significant gains. In the NFT sector, the Little Penguin project continues to attract attention, with a price increase of 130% within two weeks.

Key Data

• Bitcoin: $116,539, up 24.97% year-to-date
• Ethereum: $2,968.02, year-to-date decline of 11.02%
• Market Fear and Greed Index: 72 (Greed)
• Bitcoin market share: 63.8%
• Ethereum market share: 9.8%
• Total amount of liquidation in 24 hours: 1.136 billion USD

ETF Capital Flow

• Bitcoin ETF: Net inflow of $1.179 billion, setting the second highest in history.
• Ethereum ETF: Net inflow of $383 million, also the second highest in history.

Market Outlook

Recently, multiple projects will undergo token unlocking, including Immutable, io.net, Movement, and others. The market is paying attention to the upcoming initial token issuance of PUMP. In addition, a certain trading platform will launch new perpetual contract trading pairs.

In the past 24 hours, among the top 500 tokens by market cap, the ones with the largest increase include Omni Network, Hyperlane, and CROSS, with increases of 195.50%, 97.00%, and 70.72%, respectively.

Industry News

• The Shanghai State-Owned Assets Supervision and Administration Commission held a study meeting on the development of cryptocurrencies and stablecoins.
• A listed company increased its holdings by 12,648 Ether, worth 35.31 million USD.
• Grayscale updates "proposed asset list", adding 31 new tokens
• BNB has completed its 32nd quarterly burn, valued at approximately 1.024 billion USD.
• A well-known individual has promised to purchase $100 million in TRUMP tokens.