JH Kim

Bitcoin (BTC) temporarily dropped below the $94,000 mark. Meanwhile, BTC is trading at $93,694.51, down 3.70% from the previous day, based on the Binance Tether (USDT) market as of 02:46 on the 9th.

Vitalik Buterin, the founder of Ethereum (ETH), stated on the 8th (local time) via his X (formerly Twitter) that priorities need to be set for Ethereum core development upgrades. He explained, "For example, if we have to choose between increasing the Blob (a new transaction type introduced to improve transaction processing speed and reduce transaction costs) target from 3 to 6 and other improvements of Pectra, I think Blob should be prioritized." Meanwhile, ETH is trading at $3,284.48, down 4.02% from the previous day, based on the Binance Tether (USDT) market at 03:47 on the 9th.

According to The Block, a cryptocurrency-focused media outlet, the London-based neobank and fintech company Revolut has joined the oracle solution Pyth Network (PYTH) as a data publisher on the 8th (local time). As a result, Revolut will be able to provide its users with market data from Pyth Network. Currently, companies such as Binance, Bitstamp, Bybit, Galaxy Digital, and Amber Group are active as Pyth Network data publishers.

Bitcoin (BTC) temporarily dropped below the $95,000 mark. Meanwhile, BTC is trading at $94,955.01, down 3.54% from the previous day, as of 00:17 on the 9th, based on the Binance Tether (USDT) market.

Hunter Horsley, the CEO of the virtual asset (cryptocurrency) asset management company and Bitcoin (BTC) spot ETF issuer Bitwise, stated on the 7th (local time) via X (formerly Twitter) that "The major theme of 2025 will be the emergence of 'Bitcoin standard companies' purchasing BTC." He added, "Many private companies, including Bitwise, also hold Bitcoin on their balance sheets," noting that "this trend is quite intriguing."

On the 7th (local time), the cryptocurrency specialized media Decrypt reported, citing a report from the cryptocurrency payment service platform NOWPayments, that Bitcoin (BTC) surpassed $100,000, reaching an all-time high, while virtual asset payments in the Merchant industry increased by 8%. NOWPayments marketing manager Alex Yarovinski stated, "Virtual asset payment volume increased by 8% in just one week after the US election results were announced," adding, "Interest in virtual asset payments is growing at a different pace than previous cycles." He also explained, "As demand for corporate virtual asset payment solutions grows, the need for accessibility and security is becoming more pronounced."

According to Cointelegraph, a cryptocurrency-focused media outlet, a report jointly published by cryptocurrency mining platform NiceHash and Bitcoin (BTC) mining company Digital Mining Solutions on the 7th (local time) states that "in 2024, Bitcoin miners are adopting a strategy of holding or not selling the majority of newly mined quantities." The report noted, "This trend is particularly prominent among publicly listed mining companies," adding, "They are refraining from selling held BTC due to expectations of further price increases and to strengthen their balance sheets." Additionally, it mentioned, "Companies such as Marathon Holdings, Riot Platforms, and Hut8 have raised funds through convertible bonds to purchase additional BTC," and added, "Among U.S. mining companies, diversifying businesses into high-performance computing and artificial intelligence (AI) computing is becoming a trend."

On the 7th (local time), the cryptocurrency specialized media CoinDesk reported, "A 'head and shoulders' pattern is being observed on the BTC/USDT daily chart," and analyzed that "if this pattern completes, Bitcoin (BTC) could fall to $75,000." Omkar Godbole, a CoinDesk analyst, explained, "If the selling pressure continues and BTC falls below the neckline of the head and shoulders pattern, the likelihood of this analysis becoming a reality increases," adding, "The current neckline is formed around $91,500. However, since technical analysis based on candlestick charts does not always hold true, investors need to be cautious." Meanwhile, BTC is trading at $96,952.32, down 4.95% from the previous day, based on the Binance Tether (USDT) market as of 03:31 on the 8th.

Bitcoin (BTC) temporarily dropped below the $97,000 mark. Meanwhile, BTC is trading at $96,952.32, down 4.95% from the previous day, as of 03:31 on the 8th, based on the Binance Tether (USDT) market.

On the 7th (local time), the American economic media outlet CNBC reported that "the surge in U.S. Treasury yields is burdening the risk asset market, causing Bitcoin (BTC) to plummet by more than 5%." The media stated, "According to the Institute for Supply Management (ISM) data, the growth in the service sector last December progressed faster than expected, spreading inflation concerns," and analyzed that "this has led to an increase in the 10-year Treasury yield, exerting downward pressure on the risk asset market." Additionally, it added, "The uncertainty that the Federal Reserve Board (Fed) may cut rates fewer times than the market expects is acting as an obstacle to the rise in virtual asset prices." Meanwhile, BTC is trading at $97,468, down 4.33% from the previous day, based on the Binance Tether (USDT) market as of 03:12 on the 8th.

On the 7th (local time), according to the cryptocurrency-focused media outlet Cointelegraph, the American asset management firm VanEck reported that "the decentralized exchange (DEX) HyperLiquid, based on its own Layer 1, will find it difficult to sustain its growth without attracting developers." The report stated, "To maintain a market capitalization of approximately $25 billion, HyperLiquid needs to build a strong developer community on its own," adding, "To justify the high value of the HYPE token, more than just a perpetual futures exchange built on its own Layer 1 chain is required." Additionally, it noted, "They have not yet secured a sufficient scale of developer community," and warned, "If they fail to meet the growth expectations of the community, HYPE holders could find themselves in a 'prisoner's dilemma' (a situation where pursuing individual interests over cooperative best choices leads to unfavorable outcomes for all)."

Andre Dragosch, Head of Research at Bitwise Europe, stated in an interview with CoinDesk on the 7th (local time) that "the recent synchronization movement between Bitcoin (BTC) prices and the S&P500 index is recovering again," and "the correlation coefficient between the two indices recorded 0.88 based on the recent 20-day moving average." The correlation coefficient is measured between +1 and -1, with a value closer to -1 indicating a perfect negative correlation (inverse correlation) and a value closer to +1 indicating a perfect positive correlation (synchronization). He continued, "According to the dot plot released by the Federal Reserve (Fed) last December, two rate cuts are expected in 2025," adding, "This is fewer than the four cuts anticipated last September." Additionally, he explained, "This shift in the Fed's stance may have encouraged the synchronization of BTC and the S&P500," and "while the Dollar Index (DXY) has risen by 5%, putting pressure on risk assets, Bitcoin has relatively withstood well." Finally, he added, "However, the deterioration of various macroeconomic conditions could pose short-term risks to Bitcoin," especially if the synchronization with the S&P500 deepens.

The cryptocurrency market data analysis platform IntoTheBlock reported on the 7th (local time) via its official X (formerly Twitter) that "Bitcoin (BTC), which just dropped about 5%, is approaching the major on-chain support zone of $94,873 to $97,757." It continued, "According to on-chain data, approximately 1.46 million addresses purchased 1.17 million BTC at an average price of $96,353," adding, "This could potentially serve as a strong support level." Meanwhile, BTC is trading at $98,195.95, down 3.62% from the previous day, as of 01:46 on the 8th in the Binance Tether (USDT) market.

WhaleWire newsletter analyst Jacob King stated on the 7th (local time) on X (formerly Twitter) that "Bitcoin (BTC) is repeatedly hitting a trend resistance line that has persisted for 8 years and falling," adding that "every instance of hitting this resistance line has led to a massive crash." He continued, "History is repeating itself," and added, "The target price for BTC in 2025 is below $30,000." Jacob King is known as a Bitcoin skeptic who has consistently raised skepticism about Bitcoin, claiming that 'Bitcoin is useless.' Meanwhile, BTC is trading at $97,728.93, down 4.51% from the previous day, based on the Binance Tether (USDT) market at 01:12 on the 8th.

According to the cryptocurrency-focused media U.Today on the 7th (local time), the Bitcoin (BTC)-based liquidity protocol VELAR has undergone a visual rebranding. As part of the rebranding, VELAR unveiled new logos in two versions: blue and orange. The blue logo symbolizes the strengthening of leadership within the Bitcoin DeFi industry, while the orange logo incorporates the symbolic color of Bitcoin. Meanwhile, BTC is trading at $97,979.58, down 3.86% from the previous day, as of 00:38 on the 8th in the Binance Tether (USDT) market.

Bitcoin (BTC) temporarily dropped below the $98,000 mark. Meanwhile, BTC is trading at $97,979.58, down 3.86% from the previous day, as of 00:38 on the 8th, based on the Binance Tether (USDT) market.

Bitcoin (BTC) temporarily dropped below the $99,000 mark. Meanwhile, BTC is trading at $98,994.40, down 2.02% from the previous day, as of 00:10 on the 8th, based on the Binance Tether (USDT) market.

Ju Ki-young, CEO of CryptoQuant, stated on the 6th (local time) via his X (formerly Twitter) that "this Bitcoin (BTC) bull cycle could potentially be the longest ever," adding that "new liquidity sources are consistently invigorating the market, and more liquidity is awaited."

On the 6th (local time), cryptocurrency specialist media Cointelegraph reported, citing Defillama data, that the trading volume of Solana (SOL)-based decentralized cryptocurrency exchanges (DEX) in the last 24 hours has surpassed the combined volume of Ethereum (ETH) and Base (BASE). According to the data, the daily trading volume of Solana-based DEXs stands at $3.8 billion, which is larger than the combined $1.7 billion of Ethereum and $1.2 billion of Base. The media stated, "This increase in trading volume indicates the rising status of the Solana network within the DeFi sector," and explained that "it is emerging as a strong challenger to Ethereum."

According to the virtual asset (cryptocurrency) specialized media CryptoSlate on the 6th (local time), Binance Research projected in its monthly market report that "the virtual asset market will continue to show sustained growth this year, driven by accelerated institutional adoption, the development of regulatory frameworks, and the expansion of the DeFi ecosystem." The report analyzed, "Despite the sharp correction at the end of December last year, the overall market is showing strong fundamentals," adding that "the dominance of Bitcoin (BTC) among global assets has also increased." It continued, "In terms of annual growth rate, Bitcoin recorded the second-highest performance among the world's top 10 assets, following NVIDIA," explaining that "its status as a major asset class is becoming more solidified." Additionally, it stated, "The strong fundamentals of Bitcoin and the increasing adoption by traditional finance could pave the way for continued growth in the industry," adding that "if the current trend continues, Bitcoin is likely to occupy a higher position in the global asset rankings and potentially get closer to gold."

Axel Adler Jr., a CryptoQuant analyst, stated on the 6th (local time) via X (formerly Twitter) that "90% of the total Bitcoin (BTC) supply is in a profit state," and analyzed that "if a black swan (an event that is extremely unlikely to happen) does not occur in this cycle, the decline of Bitcoin could be minimized." He added, "This rally will follow the 2017 bull market rather than the temporary halt in 2021 due to China's mining ban."