Bitcoin has become 'digital gold', global crypto competition heats up, South Korea's policies significantly loosen
As the global attitude towards crypto assets continues to shift, Bitcoin is gradually being regarded by the mainstream as 'digital gold'. The executive director of the Trump Cryptocurrency Committee stated that countries are rapidly accumulating Bitcoin like a 'space race', and the United States has incorporated it into its national strategic assets. This strategic endorsement not only deepens institutional investor confidence but also indirectly drives the price to remain volatile at high levels.
From the market perspective, BTC price oscillates around 94415 USDT at high levels, with market divergence intensifying. According to liquidation data, if the price falls to 93415, it will trigger the liquidation of over $369 million in long positions; if it rises to 95415, it will liquidate over $112 million in short positions. Currently, the risk for bulls is much higher than for bears, and leveraged traders need to remain cautious.
On the industry level, South Korea's conservative party, the 'People Power Party', announced seven supportive policies for the crypto ecosystem, planning to open spot crypto ETFs within the year and lifting the long-standing 'single bank rule' that restricted cooperation between crypto exchanges and banks. At the same time, the party will also promote the legalization of security token offerings and introduce a regulatory framework for stablecoins, planning to establish a 'Fundamental Law for Digital Asset Promotion'. Analysts point out that this will have a significant impact on the global crypto asset market landscape, with South Korea potentially becoming a leading crypto hub in Asia.
Additionally, the U.S. SEC has once again delayed the approval of several crypto ETF products, including Franklin's SOL and XRP ETFs, Grayscale's HBAR ETF, and multiple ETH staking plans. However, ETF Store President Nate Geraci believes these products are expected to be approved sequentially within this year.
