OSL trading moment: Many states in the United States have proposed bills to establish BTC reserves, and the market expects BTC to exceed $300,000 by the end of the year

Reprinted from panewslab

01/17/2025·16days ago

OSL trading moment: Many states in the United States have proposed 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 Bitcoin prices may exceed $300,000 by the end of 2025. While Bitcoin still dominates the market, Ethereum (ETH) has also shown strong momentum recently, with the price still recording a 4% increase despite the slowdown.

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

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

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

S&P 500: 5,937.34 points (+0.95% during the year)
Nasdaq: 19,338.29 points (+0.14% during the year)
10-year U.S. Treasury yield: 4.619% (+4.30 basis points during the year)
US dollar index: 108.96 (+0.72% during the year)
Bitcoin: $100,060 (+7.14% on the year), daily spot trading volume of $48.89 billion
Ethereum: $3,323.96 (-0.62% for the year), with daily spot trading volume of $246 million