OSL trading moment: The market is cautious and the short positions are over $120 million

1. Market Observation

Keywords: ETF, ETH, BTC

Bitcoin (BTC) has been in a consolidation phase recently, trading between $94,000 and $100,000, and market sentiment has become cautious. It is worth noting that the cross-chain solution Grail Bridge testnet launched by BitcoinOS marks an important step forward in Bitcoin's versatility beyond payments. Despite the volatile markets, Real Vision CEO Raoul Pal remains optimistic about BTC, Ethereum, Solana and Sui.

In terms of Ethereum (ETH), large investors actively increased their holdings during the recent market pullback, with new holdings reaching US$2.5 billion. Ethereum prices appear to be bullish after they remained below $3,000 for weeks, suggesting that funds may be transferred from Solana. Meanwhile, a mysterious Chinese programmer donated millions of dollars in ETH tokens and subsequently destroyed the same amount, attracting market attention.

Currently, Bitcoin’s dominance in the cryptocurrency market continues to rise, while macro uncertainty has led to a sluggish performance of other altcoins. The Texas Senate is considering building strategic bitcoin reserves to diversify state cash reserves. It is worth noting that with increasing uncertainty and analysts disagree on the direction of Bitcoin price, short leverage positions exceeded US$120 million in the long market, indicating that the short-term market may show a bearish trend.

In the ETF market, institutional investors have controlled more than a quarter of the total assets of Bitcoin ETFs. Although Bitcoin and Ethereum ETFs have shown overall capital outflows, BlackRock's IBIT ETF has received capital inflows against the trend. In addition, JPMorgan holds a share of Bitcoin and Ethereum ETFs worth over one million dollars. It is worth mentioning that Bitcoin supporter Michael Saylor has released the "21 Bitcoin Rules" guide, providing in-depth insights into the adoption, ownership and ideology of digital currencies.

2. Key data (as of 10:00 HKT on February 19)

• S&P 500: 6,129.58 points (+4.22% within the year)

• Nasdaq: 20,041.26 points (+3.78% within the year)

• 10-year US Treasury yield: 4.552% (-2.50 basis points within the year)

• US dollar index: 107.07 (-1.30% within the year)

• Bitcoin: $95,461 (+2.17% during the year), daily spot trading volume is $38.42 billion

• Ethereum: USD 2,671.62 (-20.12%), daily spot trading volume is USD 24.1 billion

3.ETF flow direction (EST, February 18)

• Bitcoin ETF: -$123.1 million

• Ethereum ETF: +$4.6 million

4. Important date (Hong Kong time)

Number of people who requested initial unemployment benefits (21:30 on February 20)

• Actual: To be announced/Previous value: 213,000/Expected: 215,000

Minutes of the Federal Reserve Meeting (03:30, February 20)

5. Hot News

Galaxy: LIBRA "run away" incident further hits investors' demand for SOL

Schwab Financial has established the position of digital asset manager to provide cryptocurrency services in a layout

Google is exploring the use of the Google Login feature to log in to a Bitcoin wallet

Howard Lutnick, who supports cryptocurrency, has been approved by the Senate as U.S. Secretary of Commerce

Kraken completes the first allocation of funds for FTX estate, paying more than 46,000 creditors

Bankless Ventures announces launch of second phase of fund, targeting $50 million

Bubblemaps: A trader turns $1.09 million into $109 million by trading Meme currency TRUMP

DigitFT to launch a tokenized version of the $6.3 billion Invesco fund

Bullish obtains Hong Kong virtual asset trading platform license

K33 Research: Bitcoin market is in a "sluggish state" since the US election

US SEC confirms receipt of Bitwise's spot XRP ETF application

Former Tether CEO is developing the income stablecoin project Pi Protocol, which is expected to be launched in the second half of this year

Curve founder's new project Yield Basis raises $5 million in funding at $50 million token valuation

LIBRA token Hayden Davis claims he has bribed the Argentine president's sister

Strategy Announces Issuance of $2 billion convertible bonds to Support Future Bitcoin Purchase

US SEC solicits public feedback on approval of Grayscale and Bitwise Ethereum ETF options trading

FTX's next round of repayment allocation will begin on May 30

Fed Daly: Cryptocurrency is an emerging industry and doesn't want to curb innovation due to fear

Coinbase International Station will launch EURC perpetual contract

Grayscale announces Grayscale $PYTH Trust

Robinhood plans to launch crypto products in Singapore in 2025

KernelDAO will conduct $KERNEL token TGE in February

Lawyer: Nearly 75,000 users suffered losses in LIBRA token transactions, with a total loss of approximately US$286 million

DefiTuna reveals the US$200 million market manipulation plan of the M3M3 platform, involving multiple projects such as LIBRA and MELANIA

Jupiter Lianchuang: Meteora Lianchuang Ben resigns and has hired a law firm to issue a LIBRA investigation report

European Securities and Markets Authority initiates public consultation on the formulation of crypto asset advisory standards

Market News: LIBRA team is negotiating with the Nigerian government to launch Meme Coin

Institutional investors hold 25.4% of the assets under management of spot Bitcoin ETFs, totaling $26.8 billion

Argentine President: LIBRA is not promoted, but only shared LIBRA information

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