Market Sentiment
The current Fear & Greed Index is at 72 points, indicating a state of greed. This index has slightly retreated, reflecting investors' optimism about institutional capital inflows and expectations regarding Federal Reserve policies, but the overall market remains cautiously expansive due to tariff uncertainties and short-term volatility. Major driving factors include sustained net inflows into Bitcoin ETFs and strong demand for Ethereum spot ETFs, boosting risk appetite.
Market Overview
The latest price of Bitcoin is $118,063.00, with a 24-hour increase of 0.22%; Ethereum's latest price is $3,853.00, with a 24-hour increase of 1.06%. Bitcoin's volatility is supported by the Federal Reserve's hawkish stance and increased whale accumulation, rebounding after testing the $116,000 level; Ethereum's rise is attributed to net inflows into ETFs and increased staking demand, breaking through the $3,800 resistance level.
On-chain Focus
Five wallets from the Satoshi era were activated, transferring 250 Bitcoins (worth $29.64 million) to new addresses; another address that had been dormant for 15.3 years activated 50 Bitcoins (worth $5.91 million). Whales withdrew 113,029 Ethereum (worth $430 million) from FalconX and staked 20,736 Ethereum (worth $78.96 million). These movements indicate a coexistence of cashing out old coins and institutional accumulation.
Institutional Trends
Yesterday, the net inflow of Bitcoin spot ETFs in the U.S. was $47.1 million, with BlackRock's IBIT seeing an inflow of $34.4 million; the net inflow of Ethereum spot ETFs was $5.8 million, with BlackRock's ETHA seeing an inflow of $20.3 million. These capital flows enhance market liquidity, directly alleviating short-term selling pressure, supporting Bitcoin's stability above $118,000 and Ethereum's rebound to $3,800.
Regulation and Macro
The Federal Reserve maintained interest rates at 4.25%-4.50%, with Powell's hawkish remarks emphasizing high uncertainty; the White House released a report on digital assets, promoting the simplification of crypto regulation and supporting stablecoins. The Hong Kong Monetary Authority requires stablecoin issuers to prevent VPN circumvention of authentication. These events temporarily increase volatility but are favorable for institutional entry, potentially stimulating Bitcoin's push toward $120,000.