On a macro level, according to reports cited by the Financial Times, Sun Yuchen's blockchain platform Tron is planning to go public on the NASDAQ in the United States through a reverse merger. The target of this transaction is SRM Entertainment, a listed company, facilitated by the New York boutique investment bank Dominari Securities. It is worth mentioning that this investment bank has connections with Donald Trump Jr. and Eric Trump from the Trump family.
It has been reported that Tron will inject up to $210 million worth of TRX tokens into the joint venture 'Tron Inc.' This move references the operational logic of Strategy (formerly MicroStrategy) in digital asset allocation, and the new company will also become an important holding entity for TRX. According to insiders, Eric Trump may hold a position in the company in the future, further adding a political dimension to the deal.
On the traditional finance side, JPMorgan's recent movements have also attracted significant market attention. The bank has applied for the trademark 'JPMD' for building a payment and trading-related crypto platform. There are rumors that 'JPMD' could be a new type of stablecoin backed by the US dollar, which is currently still in development. Previously, JPMorgan has gradually opened up Bitcoin investment channels for clients, which may indicate further expansion in the digital asset field.
Although the situation in the Middle East remains uncertain, the financial markets seem to be less affected. Bitcoin prices have rebounded to pre-conflict ranges, and U.S. stocks have also returned to last week's highs, indicating a recovery in market confidence. The upcoming retail sales data in the U.S. will be a key economic indicator. Current expectations suggest a month-over-month decline of 0.7%, compared to a 0.1% increase last month, showing signs of weakening consumer momentum. At the same time, the import price index is expected to be negative, further confirming the trend of declining inflation.
On-chain data shows that during the price increase, the turnover rate has significantly increased, short-term players are exiting at highs, while long-term holders remain calm. Additionally, the number of tokens held on the platform continues to decrease, indicating that players tend to position themselves for the medium to long term.
Overall, while Bitcoin continues its rebound trend, whether it can further advance still depends on the upcoming macroeconomic data, especially the Federal Reserve's dot plot to be released this Thursday, which will play a key guiding role in the market trend. The range of $93,000 to $98,000 has gathered a large amount of chips, but the price increase has not triggered significant selling, indicating that this area still has solid support. However, from the two key dimensions of profit taking and new capital inflow, there are signs that upward momentum has slowed. The scale of profit-taking has decreased, and new demand is also shrinking, which may suggest that the upward momentum is weakening.