碗中魚

#美联储FOMC会议
Latest Developments of the Federal Reserve FOMC Meeting (as of June 17, 2025)

The Federal Reserve convened the latest FOMC meeting as scheduled on **Tuesday, June 17, 2025 (Eastern Time)**. This is typically a two-day meeting, with decisions announced after the meeting concludes.

1. **Meeting Commencement:**
* The Federal Reserve has confirmed that the FOMC meeting will officially start at **9 AM on Tuesday (June 17) Eastern Time**.
* This is the last interest rate meeting for the Federal Reserve in the first half of the year.

2. **Market Expectations and Interest Rate Decision:**
* There is widespread expectation that the Federal Reserve will **continue to keep the benchmark interest rate in the range of 4.25%-4.50%** at this meeting. This will mark the third consecutive time that rates remain unchanged.
* Despite some recent weak inflation data, the ongoing uncertainty brought about by President Trump's trade policies (such as the latest adjustments to tariffs) has complicated the inflation outlook, leading the Federal Reserve to remain cautious regarding interest rate cuts.
* The Federal Reserve has also emphasized in previous meetings that the current monetary policy stance is suitable for the current environment, capable of addressing potential economic changes while maintaining flexibility, with no urgent need for rate cuts at this time.

3. **Adjustment of Balance Sheet Reduction (Quantitative Tightening, QT) Pace:**
* The Federal Reserve will continue to reduce its holdings of U.S. Treasury securities, agency debt, and mortgage-backed securities (MBS).
* Since **April 2025**, the monthly redemption cap for U.S. Treasuries has been **reduced from $25 billion to $5 billion**, while the MBS monthly redemption cap remains at $35 billion.
* This slowdown in the pace of balance sheet reduction is typically interpreted by the market as an effort to maintain tightening while avoiding excessive shocks to market liquidity, aiming to ensure the effectiveness of the “adequate reserves” framework. Goldman Sachs has previously predicted that this balance sheet reduction will have an overall impact of about 25 basis points on the 10-year Treasury yield.

$BTC
Bitcoin has shown a **strong rebound** today after recent fluctuations, indicating that despite ongoing uncertainty in global markets, buying interest has picked up.

**Current Price and Recent Trends:**

* **Price**: Bitcoin is currently trading at approximately **$107,180**. This marks a significant rebound from the low of around $103,000 on June 13 to June 14, up to $104,000.
* **Daily Increase**: BTC has risen by about **1.5%** in the past 24 hours. Some reports indicate that BTC's daily increase was even higher, with prices surpassing $107,000.
* **Weekly Performance**: Despite geopolitical events causing a sharp decline in Bitcoin prices, Bitcoin has maintained an upward trend this week. According to some sources, Bitcoin's price rose approximately 1.93% in the last 24 hours and firmly broke through $106,000.
* **Close to Historical High**: Bitcoin is still within reach of its historical high of approximately $112,000 set at the end of May.

#越南加密政策

The following are the latest developments and updates on Vietnam's cryptocurrency policy as of **June 16, 2025**:

### 1. Official Recognition of the Legal Status of Cryptocurrency Assets (Digital Technology Industry Law)

This is the most significant milestone in Vietnam's cryptocurrency policy:

* **Bill Passed:** The National Assembly of Vietnam officially approved the Digital Technology Industry Law on **June 14, 2025**.
* **Effective Date:** The law will take effect on **January 1, 2026**.
* **Core Content:**
* **Legal Status:** This is the first time Vietnam has included cryptocurrency assets within the national legal framework and **formally recognized their legal status**. This marks a shift in Vietnam's attitude towards cryptocurrency from previous ambiguity or discouragement to proactive regulation and promotion.
* **Classification and Regulation:** The new law categorizes digital assets into **“virtual assets” and “crypto assets”**, providing clear classification and regulation. The law excludes financial instruments such as securities and digital fiat currencies, indicating that these digital assets will have their own independent regulatory path.
* **Regulatory Framework:** The bill outlines a broad framework for managing digital assets and promoting blockchain innovation. It empowers the government to formulate specific implementation guidelines and emphasizes requirements for **cybersecurity, anti-money laundering (AML), and counter-terrorism financing (CFT)**.
* **Alignment with International Standards:** The purpose of this law is to improve Vietnam's legal system and align with international standards, particularly in aiming to exit the FATF (Financial Action Task Force) grey list as soon as possible.

* **Significance:** The Vietnamese government refers to it as the **first country in the world to establish an independent law specifically for the digital technology industry**. This indicates that Vietnam is actively embracing the digital economy and blockchain technology, striving to occupy a favorable position in this emerging field.

$BTC

Bitcoin has shown a **slight rebound** after a significant drop earlier this week, with market sentiment still affected by recent geopolitical tensions.

**Current Price and Recent Trends:**

* **Price:** The trading price of Bitcoin is approximately **$104,850**. This is a slight increase from yesterday's recent low of about $103,000, indicating that the market is experiencing a slight recovery.
* **Daily Trend:** BTC has successfully recovered some ground, with a positive intraday trend, but remains below earlier levels this week (around $108,000-$110,000). * **Weekly Performance:** Despite today's rebound, Bitcoin has still dropped about 2.5% over the past seven days, primarily due to a significant pullback influenced by geopolitical events on Thursday (June 13).

#特朗普比特币金库

### 1. Disclosure of Trump's Bitcoin Holdings and the 'Secret'

* **First Disclosure:** Trump confirmed for the first time through federal disclosure documents in **August 2024** that he holds Bitcoin (BTC) valued between **$250,000 and $500,000**. This news shocked the crypto community, as he had previously expressed skepticism about Bitcoin.
* **Implication of a 'Secret Vault':** More intriguingly, in **March 2025**, Trump began to publicly state that he himself is a holder of Bitcoin and implied that he possesses a 'secret vault'. He claimed on multiple occasions that he is collecting all 'remaining Bitcoins' and that he is the 'hidden power' behind Bitcoin.
* **Reality Check:** Despite Trump's grand proclamations about his 'secret vault' and 'collecting all Bitcoins', market observers and on-chain analysts believe this is more likely a **hyperbolic political strategy** rather than a literal massive Bitcoin reserve.
* The amount of Bitcoin he publicly disclosed is trivial relative to the entire market.
* Currently, there is no verifiable on-chain data to support his claim of having a large 'vault'.
* His statements are more often interpreted as a **marketing tactic** aimed at attracting votes from cryptocurrency supporters and leveraging the growing popularity of Bitcoin.

$ADA
Cardano (ADA) is currently at a critical moment, influenced by both overall market volatility and significant internal developments.

**Current Price and Recent Trends:**

* **Price:** ADA is currently trading at approximately **$0.6415 USD**.
* **Short-term Decline:** In the past 24 hours, ADA has dropped about **3.47%**, down from yesterday's $0.6646. This reflects the overall downward pressure in the cryptocurrency market, particularly influenced by geopolitical tensions such as the Israel-Iran conflict, leading to a general risk-averse sentiment among investors.
* **Recent Low:** Earlier this week, ADA fell below the critical support level of $0.65 and came close to the demand zone of $0.62-$0.63.
* **Year-over-Year Performance:** Despite the recent decline, ADA has shown significant growth compared to a year ago when it was at $0.4208, with an increase of **52.45%**.

#卡尔达诺稳定币提案
Why is this proposal important?

* **Addressing liquidity pain points:** Stablecoins play a crucial role in DeFi by providing a stable medium of exchange, reducing volatility risk, and enhancing liquidity. The growth of Cardano DeFi has been limited by the lack of stablecoins. This proposal aims to directly address this core issue.
* **Enhancing competitiveness:** Compared to other L1 blockchains like Solana and Ethereum, Cardano has been at a disadvantage in terms of stablecoin adoption and DeFi activity. This proposal aims to enhance its competitiveness and attract more developers and users.
* **Strategic shift:** This proposal also marks an important shift in Cardano's development strategy from purely infrastructure building to more active capital operations to accelerate ecosystem development.
* **Exploration of privacy stablecoins:** It is worth mentioning that Cardano founder Charles Hoskinson also stated in May of this year that Cardano aims to be the first blockchain with **privacy stablecoins**, intended to provide cash-like privacy protection while complying with regulatory requirements.

### Current Status of Cardano Stablecoins

Despite a low proportion of stablecoins, there are already some native stablecoin projects running on the Cardano chain:

* **USDM (Mehen Finance):** A decentralized stablecoin, pegged 1:1 to the US dollar and backed by US money market funds. Launched in early 2025.
* **USDA (Anzen Finance):** Another native dollar stablecoin whose launch in the first quarter of 2025 boosted the market capitalization of Cardano stablecoins.

### Summary

The proposal by Cardano co-founder Charles Hoskinson to convert $100 million ADA into stablecoins and Bitcoin is a key milestone in the development of the Cardano DeFi ecosystem. This proposal aims to address long-standing pain points by enhancing stablecoin liquidity, thereby strengthening Cardano's position in the competitive DeFi landscape. Although there is controversy within the community regarding the potential short-term impact of the proposal on ADA prices, it undoubtedly demonstrates the Cardano team's commitment to accelerating ecosystem development. Investors and blockchain enthusiasts in Xinfeng Township should closely monitor the subsequent developments of this proposal and its long-term effects on the Cardano ecosystem.

#卡尔达诺稳定币提案
The proposal to convert 100 million ADA into stablecoins and Bitcoin, put forward by Cardano co-founder Charles Hoskinson, is a key milestone in the development of the Cardano DeFi ecosystem. This proposal aims to address long-standing pain points by enhancing the liquidity of stablecoins, thereby strengthening Cardano's position in the highly competitive DeFi space. Although there is controversy within the community regarding the potential short-term impact of the proposal on ADA's price, it undoubtedly demonstrates the Cardano team's commitment to accelerating ecosystem development. Investors and blockchain enthusiasts in Xinfeng Township should closely monitor the subsequent progress of this proposal and its long-term impact on the Cardano ecosystem.

$BTC
Bitcoin is currently experiencing a **significant correction** and a shift in market sentiment, largely due to escalating geopolitical tensions in the Middle East.

**Current Price & Recent Movement:**

* **Price:** Bitcoin is currently trading around **$103,972 USD**. This is a notable drop from its levels around $108,000-$110,000 just yesterday and earlier this week.
* **Daily Loss:** BTC has recorded a **3.14% loss in the past 24 hours** (according to CoinMarketCap) and has plunged further since earlier today.
* **Intraday Low:** Bitcoin briefly fell below the **$103,000 mark**, reaching as low as $102,822 on some exchanges, before stabilizing slightly around $104K.
* **Recent Gains Eroded:** The cryptocurrency has given up some of its recent gains but remains up over 40% in the last 60 days, showing resilience in the broader trend.

#以色列伊朗冲突
Currently, the conflict between Israel and Iran has entered a heated stage, with Israel's direct strikes on Iranian nuclear facilities and military targets, as well as Iran's retaliatory actions, making the situation in the entire Middle East unprecedentedly tense and filled with uncertainty. This is not only a direct confrontation between the two countries but also affects the nerves of regional and international forces such as the United States, Hezbollah in Lebanon, and the Houthi armed forces. The world is closely watching the developments to prevent the conflict from escalating into a larger regional war. It will have far-reaching effects on the global economy, energy markets, and geopolitical stability.

$BTC
Bitcoin is currently showing mixed signals, experiencing a slight dip today after a period of consolidation. The market is highly reactive to macroeconomic data, particularly the latest CPI figures from the US.

**Current Price & Recent Movement:**

* **Price:** Bitcoin is trading around **$108,680.0 USD**. This represents a slight decrease from its price on June 11th ($110,212.7) and June 10th ($110,261.6).
* **Recent Dip:** The price has slipped by about 0.87% in the past 24 hours, after climbing as high as $108,635 earlier today before pulling back. This suggests some growing uncertainty as the market loses a bit of steam.
* **Weekly Performance:** Despite the recent dip, BTC is still up nearly 4.5% in the last seven days and has held above $105,000 for the past four days, reinforcing some optimistic sentiment.
* **All-Time High Proximity:** Bitcoin is still relatively close to its all-time high of approximately $112,000 reached on May 22, 2025, being just about 3% shy of that peak.

#美国加征关税
Overall Situation of the Latest U.S. Tariffs (As of June 12, 2025)

The current U.S. tariff policy can be traced back to the 'reciprocal tariffs' implemented during the Trump administration and recent increases on specific products:

1. **Continued Implementation and Adjustment of 'Reciprocal Tariffs':**
* **Base Tariff:** Starting from **April 5, 2025**, the U.S. imposes a 10% 'base tariff' ('minimum tax rate') on imports from **all countries/regions**.
* **Higher Rates:** Starting from **April 9, 2025**, the U.S. imposes higher rates on about **60 countries/regions** that have a significant trade deficit with the U.S. and impose barriers to U.S. exports, ranging from 17% to 49%, in addition to the 10% base tariff. For example, the 'reciprocal tariff' rate on Chinese goods once reached as high as 34%.
* **Elimination of 'Duty-Free for Packages under $800 from China':** Starting from **May 2, 2025**, all imported goods from China and Hong Kong, regardless of value, will **no longer enjoy the 'minimum duty-free allowance' for packages under $800**, and all goods will be subject to applicable tariffs. Low-value goods sent through international postal networks that meet the minimum duty-free conditions will now also be subject to a tariff of 30% of their value or $25 per item, with plans to increase to $50 per item after **June 1** (although reports indicate that the $200 plan for June 2 has been canceled).

$ETH

Driven by recent upgrades and institutional investor interest, the price of Ether has risen significantly, and market sentiment is generally optimistic.

**Current Price and Recent Trends:**

* **Price**: The current trading price of Ethereum is approximately **$2,808.50**.
* **Recent Increase**: ETH has experienced a significant rebound, soaring nearly **89%** from the low of **$1,472** on April 9, reaching around **$2,800**. Earlier on June 11, ETH hit a **15-week high of $2,833**, followed by a slight pullback.
* **Daily Increase**: ETH is up **4.60%** from yesterday's price of **$2,685.00**, and has risen about **42.5%** over the past month.
* **Year-on-Year**: However, it is worth noting that ETH is still down **23.41%** from a year ago (when it was approximately **$3,666.83**).

#加密圆桌讨论
Core Discussion Topics: **

**Topic 1: Global and Taiwan's Cryptocurrency Regulatory Landscape**
* The impact of the U.S. spot Bitcoin/Ethereum ETF and its implications for Taiwan?
* The effectiveness and challenges of the 'Virtual Asset User Protection Act' in South Korea one year after its implementation, and what insights it offers for Taiwanese legislation?
* The latest developments and future outlook of Taiwan's digital asset regulatory framework (e.g., the Financial Supervisory Commission's regulation of VASPs, will it promote a more comprehensive digital asset management bill?).
* Challenges and balance of implementing KYC/AML (Anti-Money Laundering) in centralized and decentralized domains.
* Progress of various countries' CBDC (Central Bank Digital Currency) pilot programs and their potential impact on commercial banks and stablecoins.

**Topic 2: Market Trends and Institutional Participation**
* After Bitcoin breaks the $100,000 barrier, has the market entered a 'super cycle'?
* The impact of large-scale entry by institutional investors (e.g., BlackRock, JPMorgan) on the structure of the crypto market.
* The development of stablecoin PYUSD by traditional financial giants (e.g., PayPal) and its penetration in the payment field.
* The significance of mainstream exchanges like Nasdaq expanding the components of crypto index ETFs, what crypto assets may gain more mainstream attention?
* Volatility management in the crypto market: how to balance high growth potential with high risk.

**Topic 3: Technological Innovation and Application Prospects**
* The next steps for DeFi (Decentralized Finance): cross-chain interoperability, tokenization of RWA (Real World Assets), compliance of DeFi yields.
* Progress of Web3 and the Metaverse: digital identity, application of NFTs (Non-Fungible Tokens) in the real economy (e.g., ticketing, property rights, gaming assets).
* Development of Layer 2 solutions and modular blockchain technology, how to enhance the efficiency and scalability of blockchain.
* The integration of AI and blockchain: applications of AI in crypto trading, risk management, data analysis, and on-chain automation.

**Topic 4: Consumer Protection and Education**
* How to effectively prevent common cryptocurrency scams (e.g., phishing, pig butchering, rug pulls)?
* The importance of crypto security education for investors, and the responsibilities of governments, exchanges, and project teams.
* In a decentralized world, how can users ensure the security of their assets (private key management, smart contract risks)?

#纳斯达克加密ETF扩容
Regulatory Approval Speed: Although Nasdaq is actively promoting it, the SEC remains cautious about the approval process for crypto ETFs, especially regarding the introduction of more small-cap or more volatile crypto assets. The final decision date for Hashdex Nasdaq Crypto Index US ETF's expansion proposal is set for November 2, reflecting the prudence of regulation. Market Acceptance: While Bitcoin and Ethereum ETFs are performing strongly, it remains to be seen whether broader crypto index ETFs can gain similar interest from institutions and retail investors, and this will take time to observe. Industry Call for 'First Come, First Served': Major asset management companies such as VanEck and 21Shares wrote to the SEC on June 6, 2025, urging the restoration of the 'first come, first served' approval policy for exchange-traded products (ETPs), criticizing the SEC for approving multiple crypto ETFs simultaneously, which could affect future product innovation and efficiency. In summary, Nasdaq is actively promoting the 'expansion' and diversification of crypto ETFs, not only by successfully listing and promoting spot Bitcoin and Ethereum ETFs but also by submitting broader crypto index ETF expansion proposals, providing traditional investors with more diversified and compliant channels for crypto asset investment. These initiatives reflect the trend of the crypto market moving toward mainstream finance and also indicate that more innovative crypto financial products will be listed on compliant exchanges in the future.

#实用交易工具
1. Exchange's Built-in Tools

This is your basic trading platform, which typically provides the following functions:

* **Candlestick Charts:** Almost all exchanges have this, usually supported by TradingView. This is the foundation for your technical analysis.
* **Order Book:** Displays the depth of buy and sell orders, helping you understand market depth and liquidity.
* **Trade History:** Real-time display of the latest transaction prices and quantities.
* **Limit/Market/Stop Orders:** Various order types used to execute your trading strategy.
* **Leverage/Contract Trading Interface:** If you are trading derivatives, the exchange will provide a dedicated trading interface and tools.
* **Funding Rate:** A tool that contract traders must pay attention to.

**Representatives:** Binance, OKX, Bybit, Coinbase (Pro), Gate.io, etc.

### 2. Charting & Technical Analysis Tools

These tools provide more powerful charting capabilities and technical analysis indicators:

* **TradingView:**
* **Advantages:** Market-leading charting platform that offers a vast array of charts for cryptocurrencies, stocks, forex, etc., with rich technical indicators, drawing tools, multi-timeframe analysis, user-defined indicators, and community insights. Supports data from multiple exchanges. There is a free version and a paid version (with more powerful features).
* **Disadvantages:** The free version has functional limitations and more advertisements.
* **Uses:** Drawing trend lines, support and resistance levels, using various technical indicators (MACD, RSI, Bollinger Bands, Moving Averages, etc.), discovering chart patterns, and formulating trading strategies.

$BTC
Bitcoin has recently experienced fluctuations and is currently in a **consolidation** phase, with the market awaiting further macroeconomic signals.

**Current Price and Recent Trends:**

* **Price:** As of June 9, 2025, the trading price of Bitcoin is approximately **$105,692.2**. This is a slight increase from yesterday's closing price of $105,681.5 and a significant increase of 52.48% from a year ago (when it was around $69,315.10).
* **Daily Trend:** Bitcoin has maintained a level above $105,000 from the weekend through Monday.
* **Recent Fluctuations:** After reaching a historical high of around $111,970 in May, BTC experienced a slight pullback, dropping to about $101,000 on June 5, but has since rebounded. Currently, BTC is in a narrow consolidation, roughly between $103,750 and $106,750.

$BTC
Bitcoin (BTC) has experienced slight fluctuations, characterized by a recent recovery after a period of sluggishness, with market sentiment generally remaining 'neutral'.

Details are as follows:

**Current Price and Recent Trend:**

* **Price:** The trading price of Bitcoin is approximately **$104,409.7** (as of June 7 UTC closing price) to **$105,681.5** (current price as of June 8). This is a slight recovery from a recent low of about $101,000 on June 5.
* **Daily Increase:** On June 7, BTC recorded a significant daily increase of **2.54%**, reaching a high of about $105,000 at one point, and ultimately closing around $104,481.95.
* **Recent Volatility:** After hitting a historical high of about $111,800 to $112,000 in May, BTC experienced a correction and is currently consolidating. At the beginning of June, the price fluctuated between $100,000 and $106,000.

#韩国加密政策

### 1. The Effective and Implementation of the Virtual Asset User Protection Act

* **Effective Date:** This law will take effect on **July 19, 2024**.
* **Objective:** This is the first phase of South Korea's comprehensive regulatory framework for digital assets. Its main aim is to **protect investors** by imposing fines for price manipulation and other market abuse behaviors.
* **Main Contents:**
* **Customer Deposit Protection:** Requires exchanges to protect customer deposits.
* **Strengthening Custodial Responsibilities:** Enhances the asset custodial responsibilities of Virtual Asset Service Providers (VASPs).
* **Monitoring Suspicious Transactions:** Mandates the monitoring and reporting of suspicious transactions, strengthening Anti-Money Laundering (AML) regulation.
* **Prohibiting Insider Trading:** Strictly cracks down on insider trading, the use of non-public information, and market manipulation, with violators facing heavy penalties.
* **Future Outlook:** While the first phase focuses on user protection, the second phase (discussion has not yet begun) is expected to focus on market access and operations of virtual asset service providers, which may take longer to pass.

#看懂K线

What is a Candlestick Chart?
A Candlestick Chart, also known as a "Candle Chart" or "Bullish/Bearish Line", originated from rice trading in 18th century Japan. Each candlestick represents price information for a specific time period (e.g., 1 minute, 1 hour, 1 day, 1 week, etc.).

**Each candlestick contains four core price information:**

1. **Open Price:** The first transaction price at the beginning of this time period.
2. **Close Price:** The last transaction price at the end of this time period.
3. **High Price:** The highest transaction price reached during this time period.
4. **Low Price:** The lowest transaction price reached during this time period.

### Composition of Candlesticks

Each candlestick typically consists of a **Body** and **Shadow / Wick**:

1. **Body:**
* Represents the price range between the open price and close price.
* **Bullish Candlestick / Green/White Candlestick:** When the **close price is higher than the open price**, the body is usually **green or white** (colors may vary across platforms, but green typically represents an upward movement).
* **Bearish Candlestick / Red/Black Candlestick:** When the **close price is lower than the open price**, the body is usually **red or black** (colors may vary across platforms, but red typically represents a downward movement).
2. **Shadow / Wick:**
* Thin lines above and below the body, representing the high price and low price.
* **Upper Shadow:** A line segment connecting the top of the body to the high price.
* **Lower Shadow:** A line segment connecting the bottom of the body to the low price.

### Specific Interpretation of Bullish and Bearish Candlesticks

**1. Bullish Candlestick (Rising Candlestick / Green or White Body)**

* **Characteristics:** Close Price > Open Price
* **Upper Shadow:** Indicates that above the open and close prices, the price rose to a higher point but ultimately fell back.
* **Lower Shadow:** Indicates that below the open and close prices, the price fell to a lower point but ultimately rebounded.
* **Body:** The longer the body, the stronger the buying power within this period, indicating a larger price increase.

**2. Bearish Candlestick (Falling Candlestick / Red or Black Body)**

* **Characteristics:** Close Price < Open Price