🌟 Cryptocurrency morning report on May 10, 2025
🚀 Market dynamics: Contest for new highs and ecosystem rotation
1️⃣ BTC aims for historical highs
- Currently stabilizing above $103,000, just a step away from the previous high (around $108,000), the market generally believes that a breakthrough may trigger FOMO sentiment.
- Potential risks: If the surge fails, it may trigger a deep correction; long-position leverage needs to be cautious of liquidation pressure.
2️⃣ ETH experiences 'roller coaster'行情
- Yesterday surged 20% to reach $2,500 before quickly retreating, with some large holders taking profits, resulting in significant short-term selling pressure.
- Key logic: Rumors of 'changing hands' in Dubai remain unverified, and the Ethereum Foundation's holding movements become a market sentiment barometer.
3️⃣ SOL rebounds for recovery
- Strongly surged from $153 to $175, technically breaking through key resistance, combined with Solana's 2.2 version upgrade improving computing power by 20% (comparable to Ethereum Pectra upgrade) and Canadian listed company SRx Health Solutions purchasing $1.5 million in SOL, ecosystem heat reignited.
📜 Policy and regulatory focus
4️⃣ US-China tariff game escalates
- The Trump administration initiates trade negotiations with multiple countries, proposing to reduce US-China tariffs to 80%; if implemented, it may boost global risk asset preferences.
- Related event: US Vice President JD Vance will attend the Bitcoin 2025 conference, strengthening signals of policy endorsement.
5️⃣ Regulatory expansion and institutional games
- GENIUS Act revision: expands the jurisdiction of stablecoins, possibly including algorithmic stablecoins and cross-chain assets;
- BlackRock pressures SEC: demands a unified standard for crypto ETPs, accelerating compliance processes for giants.
6️⃣ Wave of judicial and compliance
- Metaplanet issues $21 million in bonds to increase BTC holdings, Japanese companies continue the 'balance sheet revolution';
- Goldman Sachs increases its stake in IBIT, becoming the world's largest holding institution, clarifying the path for traditional capital entry.
⚙️ Technological upgrades and product innovations
7️⃣ Breakthrough in Layer2 ecosystem
- Optimism activates the Isthmus hard fork, bringing the Ethereum Pectra upgrade into Superchain, enhancing cross-chain interoperability;
- EigenLayer's redistribution feature goes live, driving $EIGEN up 30% in one day, competition in staking derivatives heats up.
8️⃣ Innovation in hedging tools
- Tidal applies for a mixed Bitcoin and gold ETF, attempting to hedge risks between precious metals and crypto assets for the first time;
- Coinbase CEO discusses investment strategy: acknowledges considering following MicroStrategy's full BTC position but is concerned about cash flow risks.
🌪️ Key insight: Policy easing (tariffs + ETF) and technology upgrades (Layer2) jointly drive the bull market, but in the leverage frenzy, it must be remembered—most people profit from volatility, while a few profit from cycles.
