Tonight at 10 PM, Trump said he will announce a very significant piece of news. The market interprets this as a trade agreement signed with a major country. Since this afternoon, there have been continuous reports from the UK, indicating that the tariff agreement with the UK has been finalized. This is definitely a positive for the market; if negotiations with China can succeed in a few weeks, then investors' confidence may really return.
Ethereum's upgrade has also been completed. Today's price follows BTC's rise. Is Ethereum's recent price increase related to the upgrade? Not much, it is purely driven by Bitcoin and the U.S. stock market, combined with a good washout, which was quite thorough—like a spring that has hit the bottom, directly linked to the release of Bitcoin. In contrast, this upgrade is certainly a long-term benefit, but before and after the upgrade, it has had basically no effect. Therefore, it is unnecessary to attribute this sudden spike to the completion of the upgrade. From another perspective, the staking cap has increased from 32 ETH to 2048 ETH, which does not provide much benefit to most people, but is still favorable for institutional operations. So, in the short term, and even long term, we need to closely monitor the inflow situation of Ethereum ETFs. Once institutional trading volume increases, it indicates that institutions are slowly accepting this staking model, and prices will reflect this, but such a surge in trading volume has not yet appeared.
New Hampshire passes the Bitcoin strategic reserve bill.
New Hampshire officially signed HB 302, becoming the first state in the U.S. to pass legislation for a 'Strategic Bitcoin Reserve' (SBR).
The bill authorizes the state treasurer to purchase Bitcoin or digital assets with a market value exceeding 500 billion USD, setting a holding limit of 5% of total reserve funds.
Reserve assets must be custodially managed through a U.S. regulatory-compliant multi-signature mechanism or exchange products to ensure transparency and security, and the bill will officially take effect in 60 days.
Here, the bill requires that a token's market value exceeds 500 billion USD to become a strategic reserve, and currently, only Bitcoin meets this requirement, so the direct benefit is Bitcoin's price, which the market has validated.
But while the market is optimistic about Bitcoin, it is predicting the next token that meets a market value of 500 billion USD, which must be Ethereum, ranked second in market value. Ethereum is the one that once met the requirements, but this round of upgrades did not improve Ethereum's price.
With Ethereum circulating at 122 million, to meet a market value of 500 billion USD, Ethereum's price needs to return to 4100 USD. This position is also interesting as it's the level from which this decline has occurred; returning to this point would mean Ethereum meets the strategic reserve standard.
So, will the market give Ethereum expectations? Whether the long-term benefits brought by Ethereum's upgrade can become a market hotspot will determine whether Ethereum can break through 4100 USD to meet the strategic reserve standard.
Tonight at 10 PM, Trump said he will announce a very significant piece of news. The market interprets this as a trade agreement signed with a major country. Since this afternoon, there have been continuous reports from the UK, indicating that the tariff agreement with the UK has been finalized. This is definitely a positive for the market; if negotiations with China can succeed in a few weeks, then investors' confidence may really return.
Ethereum's upgrade has also been completed. Today's price follows BTC's rise. Is Ethereum's recent price increase related to the upgrade?
Not much, it is purely driven by Bitcoin and the U.S. stock market, combined with a good washout, which was quite thorough—like a spring that has hit the bottom, directly linked to the release of Bitcoin. In contrast, this upgrade is certainly a long-term benefit, but before and after the upgrade, it has had basically no effect. Therefore, it is unnecessary to attribute this sudden spike to the completion of the upgrade.
From another perspective, the staking cap has increased from 32 ETH to 2048 ETH, which does not provide much benefit to most people, but is still favorable for institutional operations. So, in the short term, and even long term, we need to closely monitor the inflow situation of Ethereum ETFs. Once institutional trading volume increases, it indicates that institutions are slowly accepting this staking model, and prices will reflect this, but such a surge in trading volume has not yet appeared.
New Hampshire passes the Bitcoin strategic reserve bill.
New Hampshire officially signed HB 302, becoming the first state in the U.S. to pass legislation for a 'Strategic Bitcoin Reserve' (SBR).
The bill authorizes the state treasurer to purchase Bitcoin or digital assets with a market value exceeding 500 billion USD, setting a holding limit of 5% of total reserve funds.
Reserve assets must be custodially managed through a U.S. regulatory-compliant multi-signature mechanism or exchange products to ensure transparency and security, and the bill will officially take effect in 60 days.
Here, the bill requires that a token's market value exceeds 500 billion USD to become a strategic reserve, and currently, only Bitcoin meets this requirement, so the direct benefit is Bitcoin's price, which the market has validated.
But while the market is optimistic about Bitcoin, it is predicting the next token that meets a market value of 500 billion USD, which must be Ethereum, ranked second in market value. Ethereum is the one that once met the requirements, but this round of upgrades did not improve Ethereum's price.
With Ethereum circulating at 122 million, to meet a market value of 500 billion USD, Ethereum's price needs to return to 4100 USD. This position is also interesting as it's the level from which this decline has occurred; returning to this point would mean Ethereum meets the strategic reserve standard.
So, will the market give Ethereum expectations? Whether the long-term benefits brought by Ethereum's upgrade can become a market hotspot will determine whether Ethereum can break through 4100 USD to meet the strategic reserve standard.
