At a recent meeting hosted by the Bank of Japan, Minneapolis Fed President Kashkari stated that maintaining cautious policies is crucial in the current context where trade relations remain unclear. He emphasized that the stability of inflation expectations cannot be ignored and stated that 'defending long-term inflation expectations must be prioritized.'
Kashkari pointed out that there is no consensus among policymakers regarding the changes in prices caused by the U.S. tariff increases. On one hand, these changes may only be temporary disturbances; on the other hand, they may indicate long-term structural issues. He warned that the transmission of tariff impacts takes time, and if the market loses confidence in the Federal Reserve's control, inflation expectations will face a greater risk of decoupling.
Meanwhile, at the 'Bitcoin 2025' conference held in Las Vegas, the cryptocurrency sector was also bustling. Trump's executive director publicly stated: 'Bitcoin is the gold standard,' and promised that the U.S. government would not sell any Bitcoin assets it may hold.
U.S. Senator Cynthia Lummis also spoke at the meeting, stating that the defense department has begun supporting the establishment of a national strategic-level Bitcoin reserve. Her Bitcoin bill proposes that the U.S. directly reserve 1 million BTC, and Trump has reportedly also expressed clear support.
Trump's media technology group, DJT, announced a funding arrangement of up to $2.5 billion, intending to use the funds to purchase Bitcoin as a strategic reserve. This statement sends a strong signal to the crypto market, indicating an increasingly close relationship between Bitcoin and U.S. policy.
At the same time, the world's largest asset management firm, BlackRock, suggested at the meeting that players allocate about 2% of their assets to Bitcoin, further enhancing its mainstream financial status. In another piece of news, SharpLink Gaming announced a PIPE financing of $425 million, which will be used to purchase Ethereum as a core financial reserve, and welcomed Consensys founder Joseph Lubin to the board.
U.S. spot ETF data shows that the U.S. spot Bitcoin ETF had a net inflow of 3,523 coins yesterday, valued at $385 million; the U.S. spot Ethereum ETF had a net inflow of 15,100 coins yesterday, valued at $38.8 million.
Despite a somewhat cautious trading atmosphere after the holiday, Bitcoin's turnover rate surged sharply, indicating intense short-term capital fluctuations. From the chip distribution perspective, the $93,000 to $98,000 range constitutes solid support, while the $100,000 to $105,000 range, though providing price support, is mainly dominated by short-term funds and is still difficult to form effective support.
The recent Bitcoin trend will continue to be influenced by Trump's remarks and policy directions, with Bitcoin potentially seeking technical adjustments near the 5-week line in the short term, after which it may restart its upward trend.
