🧠《Morning News》

📰 Major Positive / Negative:

- A BTC whale sold about 670 BTC while buying 68,130 ETH, indicating a structural shift in capital favoring ETH (negative for BTC / positive for ETH).

- High-net-worth families in Asia plan to increase their cryptocurrency allocation to about 5% of their total investment portfolio, showing rising enthusiasm for long-term capital participation (positive).

📊 Long-Short Ratio (ETH):

- Data from Coinglass panel: Longs about 47.93%, Shorts about 52.07%, Long-Short Ratio **0.92** (bearish).

🛂 Regulatory Dynamics:

- China: Evaluating policy pathways for the renminbi stablecoin, promoting currency internationalization strategy (structural positive).

- European Union: Accelerating the digital euro program, considering issuance on public chains (such as Ethereum or Solana) to enhance strategic autonomy (positive policy support).

💰 Capital Movements:

- Whale's strategy shift towards ETH is a structural capital signal; ETF or large capital flows have not yet been disclosed, need to continue monitoring.

🧠 Brief Commentary:

- Whale activity combined with favorable policies builds a foundation for the medium to long-term market; however, the bearish long-short ratio indicates cautious short-term sentiment;

- Two major positives (Asian capital, policy push) show a clear direction for market structure optimization;

- It is recommended to continue tracking ETF trends, on-chain capital charts, and policy implementation progress.

- "Is the shift of capital from BTC to ETH a trend layout or a swing trade? Welcome to discuss!"

- "The long-short ratio is bearish but structural positives are emerging, are you entering or staying on the sidelines? Leave a comment to share your strategy."