Today's Fear and Greed Index has dropped to 44, shifting from neutral to fear.
According to The Block, the U.S. SEC is considering a proposal to change BlackRock's spot Bitcoin exchange-traded fund to allow for physical redemptions. In a document acknowledging the proposal released on Thursday, the SEC requested comments within 21 days of the document's publication in the Federal Register. The document states that the agency may subsequently decide to approve, reject, or 'initiate legal proceedings'. According to the 19b-4 form, Nasdaq released a revised rule document on behalf of BlackRock last month, allowing for redemptions and physical creations of iShares Bitcoin Trust.
“Several benefits:
1. Physical creation and redemption are priced entirely in $BTC as the valuation unit. When users redeem ETF shares, the asset management company does not need to liquidate Bitcoin holdings immediately, avoiding market fluctuations caused by large-scale redemptions.
2. In terms of taxation, investors do not bear the risk of capital gains tax because they are redeeming physical Bitcoins instead of USD.
3. Reduced the operating costs for market makers, attracting more institutional funds to flow in, fostering deeper integration of Bitcoin with the traditional financial system.
The U.S. House of Representatives' bipartisan resolution calls for clear cryptocurrency and blockchain regulations.
According to Bitcoin Magazine, legislation for investing in Bitcoin in Utah has passed in the House and is now under review by the Senate.
The German Alternative for Germany party advocates for loosening regulations on Bitcoin, wallets, and trading.
The Czech president has officially signed a bill abolishing capital gains tax for holding Bitcoin for more than 3 years.
“More and more sovereign countries are beginning to accept cryptocurrencies and relax regulations. Although slow, there has been no step back as of 2025.”
Nobel Prize winner Eugene Fama predicts that Bitcoin will be worthless in 10 years; he believes that the blockchain-based financial system requires too much computing power, making it unsustainable. He states that cryptocurrencies violate the fundamental rules of a medium of exchange, and their value is highly unstable. He also questions Bitcoin's positioning as 'digital gold', arguing that without practical use, it will be worthless.
“This old guy predicted Bitcoin would soon be worthless back in 2015 and 2018. Ten years later, he remains stubborn; the development process of things has multiple complex logics. Eugene Fama's statements have several limitations:
1. Ignoring the scarcity of Bitcoin as 'digital gold';
2. Underestimating cultural consensus and technological evolution;
3. Over-reliance on traditional monetary theory framework;
4. Ignore changes in the global macroeconomic environment.
…
There’s not much to say from a technical perspective; the same viewpoints have been presented in recent days, with expected trends being nearly identical. Whether the second transaction within the center can be achieved will continue to be observed. The ICT 4h FVG/95950 position mentioned multiple times in the diagram, if engaged, has two strong resistance points above.
The trend is still early; in the most optimistic case, there is still one more drop to observe later. Short-term trading is just entertainment; trends are true love.
At 9:30 PM, employment data will be released, with a focus on annual upward/downward revisions; it is said that there is significant divergence.
That's it.
20250207 by CharlesK7
