Fox reporter: Scott Bessent, Trump's nominee for Treasury Secretary, strongly supports cryptocurrency

[Bitcoin Profitability Metric Drops to Two-Year Low, SOPR Ratio Falls to 1.35] On-chain analytics platform CryptoQuant pointed out that the Bitcoin SOPR ratio (LTH-SOPR / STH-SOPR) has dropped to 1.35, marking its lowest level since early 2024. This change coincides with Bitcoin's price retracing to the $89,700 level. A higher ratio typically indicates that long-term holders (LTH) are profiting more actively than short-term holders (STH). However, the current sharp drop in the ratio to 1.35 suggests a significant reduction in the large-scale distribution phase of older coins, narrowing the actual profit gap between seasoned holders and new entrants. Historical data shows that when the SOPR ratio falls to similar levels during a bull market cycle, it often signals that the sell-off is nearing its end.

[European Commission Proposes Expanding ESMA's Powers for Direct Regulation of Key Markets] The European Commission on Thursday unveiled a package of proposals to implement direct regulation over key market infrastructures, including crypto asset service providers, trading venues, and central counterparties under the European Securities and Markets Authority (ESMA). If the proposal is approved, ESMA's regulatory role in EU capital markets will become closer to the centralized framework of the U.S. Securities and Exchange Commission. This concept was proposed by European Central Bank President Christine Lagarde in 2023.

1. Japan proposes to cut Bitcoin taxes and approve ETFs 2. SEC Chairman: Future financial system will be based on Bitcoin 3. The price of gold has broken through $2800/ounce, reaching a historic high, and risk aversion is heating up 4. French People's Savings Bank allows customers to buy and sell cryptocurrencies, expanding investment options 5. Franklin Templeton XRP Spot ETF held nearly 63 million positions in its first week, with a total market value of $127.8 million 6. 500 million USDT transferred from Binance to unknown wallet, abnormal on chain fund flow 7. Coinbase CEO: Bitcoin can monitor bad governments, emphasizing its role as a 'people's currency' 8. Nvidia CEO: Bitcoin converts excess energy into currency, improving energy efficiency The above is a selection of hot topics from the past 24 hours. Click to see the full article: https://www.aicoin.com/article/504955

SOL related ETFs recorded a net inflow of $19.2 million this week, becoming the focus of market attention. （Cointelegraph）

OKX-BTC/USDT is currently trading at $88934.40, with a 5-minute drop of 0.07%. Please be aware of the market fluctuations.