JH Kim

According to U.Today, a cryptocurrency-focused media outlet, the U.S. Securities and Exchange Commission (SEC) has delayed its decision on whether to approve the conversion of Grayscale XRP Trust into a spot exchange-traded fund (ETF) on the 11th (local time).

Bitcoin (BTC) has temporarily recovered to the $83,000 level. Meanwhile, as of 03:47 on the 12th, BTC is trading at $83,030.70 on the Binance Tether (USDT) market, up 5.93% compared to the previous day.

According to Blockworks, a cryptocurrency-focused media outlet, the U.S. Securities and Exchange Commission (SEC) officially confirmed on the 11th (local time) that it has received the S-1 application for an XRP exchange-traded fund (ETF) submitted by Franklin Templeton.

Bitcoin (BTC) has temporarily recovered to the $82,000 level. Meanwhile, as of 03:23 on the 12th, BTC is trading at $82,680, up 5.28% from the previous day, based on the Binance Tether (USDT) market.

On the 11th (local time), the U.S. Securities and Exchange Commission (SEC) officially confirmed the receipt of an application (S-1) for a Dogecoin (DOGE) spot exchange-traded fund (ETF) submitted by Bitwise.

On the 11th (local time), on-chain cryptocurrency analysis platform Glassnode analyzed through X (formerly Twitter) that "Bitcoin (BTC) is facing continuous selling pressure from short-term holders." They added, "Due to increased volatility, weak demand, and reduced liquidity, meaningful accumulation has not resumed in the on-chain environment," stating that "downside risk is increasing as a result." Furthermore, they explained, "In particular, the selling pressure due to market panic has caused the SOPR indicator of short-term holders (on-chain data that measures whether holders are selling assets at a profit or loss) to plummet below 1, which represents the break-even point," adding that "this signals they are cutting losses as they cannot overcome fear." Meanwhile, as of 01:13 on the 12th, BTC is trading at $80,742.71 on the Binance Tether (USDT) market, up 1.17% compared to the previous day.

Global asset manager and Bitcoin (BTC) spot ETF issuer Franklin Templeton stated on the 11th (local time) through its official X (formerly Twitter) account that "the U.S. government's strategic Bitcoin reserves represent a landmark event in Bitcoin history" and diagnosed that "the federal government's recognition of BTC as a reserve asset emphasizes Bitcoin's value and legitimacy, which will help improve long-term fiscal health and alleviate concerns about fiscal deficits." They continued, "While Bitcoin remains a highly volatile asset with risks, this U.S. measure will be very positive for the industry," adding that "it is particularly significant that the U.S. has made it clear it has no intention to sell approximately 200,000 BTC confiscated from criminal proceeds. The U.S. policy could encourage sovereign nations and institutions to hold Bitcoin in the future."

Pro-cryptocurrency US Senator Cynthia Lummis has reintroduced a bill to formalize the government's 'Bitcoin (BTC) Strategic Reserve Plan', while multiple Republican House members are set to introduce a companion bill in the House. On the 11th (local time), Fox Business reporter Eleanor Terrett explained via X (formerly Twitter) that "it will be interesting to see if there are any Democratic members who support this bill in the future." Meanwhile, Senator Lummis's reintroduced bill reportedly includes provisions related to the purchase of $1 million worth of BTC.

Pro-cryptocurrency U.S. Senator Cynthia Lummis announced on the 11th (local time) through her X (formerly Twitter) that she "has reintroduced legislation to formalize the U.S. government's 'Bitcoin (BTC) Strategic Reserve Plan'." She stated, "I am proud to be able to reintroduce this bill incorporating President Donald Trump's vision to strengthen America's economic foundation for the next generation through Bitcoin," explaining that "Bitcoin is not just a technological opportunity, but a strategically essential element nationally to maintain America's financial leadership in the 21st century." She added, "We will transform President Trump's executive actions into sustainable legislation so that America can address its national debt issues while maintaining global competitiveness." Meanwhile, it was reported that Senator Lummis's reintroduced bill includes provisions related to purchasing $1 million worth of BTC.

Bitcoin (BTC) has temporarily recovered to the $81,000 level. Meanwhile, as of 00:22 on the 12th, BTC is trading at $81,098.39 on the Binance Tether (USDT) market, up 1.39% compared to the previous day.

Bitcoin (BTC) has temporarily recovered to the $79,000 level. Meanwhile, as of 04:32 on the 11th, BTC is trading at $79,018.36 on the Binance Tether (USDT) market, down 4.57% compared to the previous day.

Anthony Scaramucci, founder of SkyBridge Capital, stated in an interview with CNBC on the 10th (local time) that "more institutions and countries are likely to purchase Bitcoin (BTC) in the coming months." He said, "Unfortunately, Bitcoin has shown a downward trend over the past 4-5 years," adding that "there were high expectations that the cryptocurrency market would stabilize after the Trump administration takes office." He continued, "Although the market is currently sluggish, I predict that more institutions will highly anticipate the possibility of the US purchasing cryptocurrencies within the next 3-6 months," explaining that "eventually, institutions and other national governments will follow the US's Bitcoin strategy." Meanwhile, as of 04:10 on the 11th, BTC is trading at $77,764.04 on the Binance Tether (USDT) market, down 5.57% compared to the previous day.

Bitcoin (BTC) has temporarily given up the $78,000 level. Meanwhile, as of 04:10 on the 11th, BTC is trading at $77,764.04 on the Binance Tether (USDT) market, down 5.57% from the previous day.

According to cryptocurrency media CoinDesk on the 10th (local time), bearish signals for Bitcoin (BTC) have been detected on Deribit. The media analyzed, "Deribit BTC futures expiring on the 14th (local time) are trading at prices lower than the current Deribit index price," adding that "this signals weakening demand." Andrew Melville, an analyst at Block Scholes, explained regarding this, "The yield, which was close to 10% on a 7-day basis, has turned negative for the first time in a year," adding that "this means futures are trading at lower prices than spot, which can be interpreted as a strong bearish indicator."

Bitcoin (BTC) has temporarily given up the $79,000 level. Meanwhile, as of 02:31 on the 11th, BTC is trading at $78,979.90 on the Binance Tether (USDT) market, down 4.26% from the previous day.

According to cryptocurrency media Cointelegraph on the 10th (local time), Nasdaq-listed Bitcoin (BTC) mining company CleanSpark (CLSK) is expected to be added to the S&P SmallCap 600 Index Fund on the 24th (local time). The fund is an index that tracks 600 U.S. companies with market capitalizations between $1 billion and $6.7 billion.

According to CoinDesk, a cryptocurrency specialized media, on the 10th (local time), Bitcoin (BTC) funding rates have turned negative, suggesting that BTC may have formed a potential bottom. The media explained, "Over the past two weeks, BTC perpetual futures funding rates have fluctuated between positive and negative, recently falling to -2% annually," adding, "Historically, persistent negative funding rates have often coincided with Bitcoin forming bottoms." Meanwhile, BTC is trading at $79,551.85 on Binance's Tether (USDT) market as of 01:33 on the 11th, down 4.17% from the previous day.

According to crypto media Cryptobasic on the 10th (local time), Deutsche Bank, Germany's largest commercial bank, has given a positive assessment of the United States' Bitcoin (BTC) strategic reserve plan. Deutsche Bank stated in a report, "BTC can play an important role in the US financial strategy as a strategic reserve asset," adding, "Amid growing concerns about inflation and the depreciation of the dollar, the US can hedge against inflation and strengthen its leadership in the digital asset market by incorporating BTC as a strategic reserve asset." The bank further added, "The US BTC strategic reserve plan demonstrates confidence in the future of digital assets and, like the US gold reserves in the 20th century, could establish itself as a new global standard."

Bitcoin (BTC) has temporarily given up the $80,000 level. Meanwhile, as of 01:04 on the 11th, BTC is trading at $79,962.37, down 3.70% from the previous day, based on the Binance Tether (USDT) market.