Daily News | Mubarak Plummeted After Listing, BTC Maintained A Volatile Market
Crypto Daily Digest: Bitcoin is seriously undervalued compared to gold, and another US state approved Bitcoin investment reserves
According to Farside Investors data, the US Bitcoin spot ETF had a total net inflow of $85 million yesterday, of which Fidelity FBTC received $97.1 million. BlackRock data has not been updated yet.
Yesterday, the Ethereum spot ETF saw an outflow of $4.2 million, of which Fidelity FETH saw an outflow of $2 million. BlackRock data has not been updated yet.
South Carolina Bitcoin Reserve Bill Would Allow 10% of State Funds to be Invested in Bitcoin
The South Carolina Bitcoin Reserve Act (Bill H4256) would allow the state treasurer to invest 10% of state funds in Bitcoin, capped at 1 million coins.
U.S. SEC Chairman-elect: Will formulate clearer and more feasible regulations for the crypto industry
Eleanor Terrett, a crypto journalist, said on social media that Paul Atkins, the incoming chairman of the SEC, said he would abandon the harsh law enforcement approach of the previous administration: “Industry experience and focused application are needed to ensure that customers and investors benefit from efficient, effective and well-designed regulation. Our SEC’s mission should be to promote these efforts and, when necessary, use law enforcement powers to correct and rectify willful behavior.”
On digital assets: “My first priority as chairman will be to work with my fellow Commissioners and Congress to provide a solid regulatory foundation for digital assets through a reasonable, coherent, and principled approach.”
Opinion: Bitcoin appears to be severely undervalued compared to gold and real estate markets
Analyst PlanB said, “Compared to the gold and real estate markets, Bitcoin seems to be seriously undervalued. Bitcoin’s market value is $2 trillion, while gold is $20 trillion. Bitcoin’s scarcity (S2F ratio) is 120 years, while gold is 60 years.”
Market Trends: GHIBLI craze boosted meme coin with the same name, BTC continued to fluctuate
Market Hotspots
The 24-hour decline of Mubarak, the leader of BSC, has widened to 32%. Since its launch on March 13, Mubarak has risen more than 50 times. However, like all other memes, Mubarak’s market has seen a significant correction, driven solely by the emotions of picking up and creating memes.
The meme coin GHIBLI rose by more than 100% in a single day. The name of the coin comes from the unique style formed by animation master Hayao Miyazaki when creating animation works. In recent times, celebrities including Elon Musk and Sam Ultraman have posted pictures featuring the GHIBLI style on their social media accounts, which in turn triggered a GHIBLI craze.
Mainstream Coins
BTC maintained a volatile market. In the past week, the market was positively sentimental due to Powell’s dovish speech and tariff easing. However, from a macro perspective, it is doubtful whether this positive effect can continue. The tariff stick may still be wielded at any time. Without stronger positive support, BTC may still turn downward.
ETH continues to consolidate at $2,000. There is almost no positive news coming out at the moment. While the ETF data is weak, its market share is also shrinking.
Altcoins generally fell, but some sectors still rose against the trend, with the SocialFi sector leading the rise by 6%. This sector is a combination of Social+Defi+NFT. Other sectors were generally weak due to the lack of narrative.
Macro News: Tariff shadow resurfaced, three major U.S. stock indexes closed down
Under the shadow of tariffs, the three major U.S. stock indexes continued to fall together on Thursday. The S&P 500 fell 0.33%, the Nasdaq Composite fell 0.53%, and the Dow Jones Industrial Average fell 0.37%.
Meanwhile, the latest sentiment survey of the American Association of Individual Investors released on Thursday showed that although the extremely pessimistic U.S. stock retail investors’ mentality has improved this week, the level of pessimism is still higher than 96.8% of the weekly data since 1987.
Samir Samana, global market strategist at Wells Fargo Investment Institute, believes that the problem now is that the Trump administration’s almost arbitrary way of implementing trade policy has made investors uneasy, while the “Ministry of Government Efficiency”‘s approach has also raised concerns that there may be loopholes. Samana said whether the stock market can get back on track may depend on whether the tariff and trade framework negotiations can produce results in the short term.
