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According to CoinDesk, the current Bitcoin price fluctuates in the mid-$60,000 range. Market views suggest that retail buying can provide some "bottom support" for the market and bring short-term momentum, but for a sustainable rebound to occur, large holders need to stop distributing and even start net buying.Analysis indicates that there is no lack of retail participation in Bitcoin at present; the key lies in whether the whales will stop selling pressure and shift to structural buying. Otherwise, each rebound may face the risk of being sold off at high levels.

According to Decrypt, the Ethereum treasury company Sharplink announced that its Ethereum holdings have grown to approximately 867,000 ETH (worth about $1.68 billion), and by the end of 2025, the proportion of shares held by institutional investors has risen to 46%.Sharplink has updated its brand image, changing its name from Sharplink Gaming to Sharplink, and adopting "Ethereum with an edge" as its new slogan to better reflect its positioning in the treasury space. The company's CEO Joseph Chalom stated that Sharplink has staked nearly all of its Ethereum holdings to generate yield and emphasized the company's focus on disciplined execution and institutional-level risk management.Despite the price of Ethereum dropping over 60% since its peak last August, resulting in a paper loss of approximately $1.39 billion for Sharplink, the company remains focused on long-term value creation rather than aggressive asset accumulation strategies. Currently, Sharplink ranks second in Ethereum treasury holdings, only behind BitMine Immersion Technologies, which holds approximately $8.5 billion in Ethereum.

Bubblemaps reveals that Hayden Davis, the key figure behind the LIBRA token scam, is actually the second-largest investor in the Pump.fun private round, having invested a total of 50 million USDC, and sold at a total price of 65 million dollars on the first day of listing. Most people remember that Pump.fun raised 500 million dollars in a public offering in July 2025, but few recall that they also conducted a private financing round with several undisclosed investors.After investing 50 million dollars, Hayden Davis's active address received 12.5 billion tokens when the PUMP token was launched, valued at 73 million dollars, with expected earnings of 15 million dollars. This address had been previously identified, but its actual owner has only been confirmed now. It is still unclear whether Pump.fun's officials are aware of this, but the address is clearly linked to Hayden Davis on-chain and is interconnected in various ways.

According to CoinDesk, a survey by the crypto tax platform Awaken Tax shows that over 50% of U.S. crypto investors are concerned about facing IRS penalties.New regulations require brokers like Coinbase to report all digital asset transactions to the IRS using Form 1099-DA to combat tax evasion. The IRS will obtain internal exchange data for the first time and compare it with taxpayer filings. Awaken Tax founder Andrew Duca pointed out that the rule equates crypto assets to stocks, but the actual operations are complex: users often transfer assets between multiple wallets and interact with DeFi, while brokers can only report sales proceeds and cannot provide the tax basis (purchase cost), resulting in incomplete forms. Taxpayers need to supplement cost information themselves using Form 8949. Currently, the compliance rate for crypto taxes is less than 20%.

According to CoinDesk, a survey by the crypto tax platform Awaken Tax shows that over 50% of U.S. crypto investors are concerned about facing IRS penalties this year.New regulations require brokers like Coinbase to report all digital asset transactions for 2025 to the IRS using Form 1099-DA to combat tax evasion. The IRS will obtain internal exchange data for the first time and compare it with taxpayer filings. Founder Andrew Duca pointed out that the rule equates crypto assets to stocks, but the actual operation is complex: users often transfer assets between multiple wallets and interact with DeFi, while brokers can only report sales proceeds and cannot provide the tax basis (purchase cost), resulting in incomplete forms. Taxpayers need to supplement cost information themselves using Form 8949. Currently, the crypto tax compliance rate is below 20%.

According to Decrypt, Colorado-based mining rights company Elemental Royalty announced on Tuesday that it will allow investors to receive dividends in the form of Tether's gold-backed stablecoin XAUT. This move is seen as the first real-world application of tokenized gold in traditional corporate finance. Elemental expects to distribute a total dividend of 12 cents per share to shareholders through several quarters of installment payments.Investors can still choose the traditional cash dividend method, but Elemental CEO David Cole stated, "Offering Tether Gold physical token dividends further highlights Elemental's differentiated positioning as a forward-looking investment company." Tether CEO Paolo Ardoino commented that this marks a significant advancement in the gold industry, showcasing how tokenized assets can unlock new financial models that were previously difficult to access.As of the time of writing, the market capitalization of XAUT is approximately $2.2 billion. With gold prices continuing to strengthen, the token's market cap reached a historic high of $3.5 billion earlier this month.

Bitfinex Alpha pointed out in its latest analysis report that after Bitcoin's price dropped to a local low of around $60,000 in early February, it is beginning to stabilize. Coupled with the macroeconomic environment turning positive, the interest rate market is readjusting its pricing, with expectations of three rate cuts possibly occurring in 2026, and the likelihood of a rate cut in April is increasing. Optimism in the crypto market is starting to show signs.In terms of derivatives, the financing rate has returned to normal, and implied volatility has narrowed to below 50. The supply of Bitcoin held by long-term holders has begun to rise again after months of decline, currently increasing to 14.3 million coins. This trend indicates that investors have started to accumulate again amid the price weakness.

Coinbase CEO Brian Armstrong posted on social media, "According to our data, retail investors on the Coinbase platform are showing remarkable resilience in the current market environment. 1. Buying the dip: Retail investors have increased their holdings of Bitcoin (BTC) and Ethereum (ETH). 2. Strong holding (diamond hands): The vast majority of customers have holdings equal to or exceeding the levels of December 2025."

According to CoinDesk, based on the analysis by NYDIG's research director Greg Cipolaro, there is a divergence in sentiment between U.S. institutional investors and offshore traders in the Bitcoin market.Currently, the annualized basis of CME (Chicago Mercantile Exchange) Bitcoin futures is higher than that of the offshore exchange Deribit, indicating that U.S. hedge funds and other institutions still prefer to pay a premium to maintain long positions, while interest in leveraged long positions in the offshore market has significantly decreased.In response to previous market rumors that the "quantum computing threat" caused Bitcoin to drop to $60,000, NYDIG believes that the data does not support this logic. Recently, Bitcoin's movement has shown a positive correlation with quantum computing-related stocks such as IONQ and D-Wave, rather than a reverse divergence. If quantum computing indeed poses a targeted threat, related stocks should rise when Bitcoin falls. The current synchronized decline reflects a general decrease in market risk appetite for long-term growth assets.Additionally, Google Trends data shows that an increase in related search volume typically accompanies a rise in coin prices rather than a decline, indicating that the topic is more driven by market enthusiasm rather than panic selling.

Backpack CEO Armani Ferrante posted on X that compared to TGE in a bull market, TGE in a bear market is less likely to result in retail investors being harvested.

According to Decrypt, a 24-year-old man from Connecticut, Elmin Redzepagic, faces up to 375 years in prison for allegedly embezzling nearly $1 million in cryptocurrency investor funds to gamble on the Stake platform.Prosecutors accuse him of posing as a cryptocurrency investment expert working for a market master named "The Chef," promising clients high returns while actually using the funds for gambling. Last month, a federal grand jury indicted him on 21 counts, including 7 counts of wire fraud, 11 counts of international money laundering, and 3 counts of making false statements to IRS criminal investigators.On Thursday, Redzepagic pleaded not guilty to all charges and was released on a $500,000 bail.

According to the Huaxia Times, the People's Court of Jing'an District in Shanghai recently heard a dispute case regarding virtual currency investment. Investor Ms. Wu invested 1.05 million yuan to purchase USDT under the inducement of a live-streaming host, but later was unable to withdraw her funds due to the trading platform being inaccessible.Both the first and second instance of the court dismissed Ms. Wu's claims, determining that virtual currency does not have the same legal status as legal tender, and that related trading activities are considered illegal financial activities, violating public order and good morals, thus constituting invalid civil actions, with losses to be borne by the investor herself. This case echoes the notice issued on February 6 by the People's Bank of China and eight other departments regarding "further prevention and handling of risks related to virtual currencies," reaffirming China's prohibitive policy stance on virtual currencies.

According to Cryptopolitan, the London Stock Exchange Group announced on Thursday its plan to launch an on-chain settlement service aimed at institutional investors, named LSEG Digital Securities Depository. This platform will connect traditional securities markets with blockchain networks, supporting the trading and settlement of tokenized bonds, stocks, and private market assets, while remaining compatible with existing infrastructure. The system will be compatible with multiple blockchain networks, with an initial delivery target set for 2026, pending regulatory approval.LSEG has been operating a blockchain platform for private equity funds on Microsoft Azure, and this new system is a further extension of its digital asset strategy. The company stated that it will form a strategic partnership group to gather market feedback during the development process, building an ecosystem that connects digital and traditional markets across time zones and supports multiple payment methods. Major UK financial institutions such as Barclays, Lloyds, National Westminster Bank, Standard Chartered, and Brookfield have expressed support for the plan.

According to Bloomberg, Strategy CEO Phong Le stated in an interview that the company will issue more perpetual preferred shares to alleviate investor concerns about the volatility of its stock price. Le mentioned that the company provides investors with a tool through the issuance of perpetual preferred shares (product name "Stretch") that offers "exposure to digital capital while avoiding volatility risk."The product has a monthly reset dividend yield, currently at 11.25%, aimed at stabilizing its trading price around the $100 par value. So far, preferred shares have made up a small portion of Strategy's financing. The company has sold approximately $370 million in common stock and $7 million in perpetual preferred shares to fund its recent Bitcoin purchases over the past three weeks.Le's statement aligns with the previous public remarks of Executive Chairman Michael Saylor. Saylor stated in an interview with CNBC on Tuesday that concerns about the market forcing the company to sell its holdings due to Bitcoin's decline are "unfounded," and reiterated the company's plan to "continue buying Bitcoin every quarter."

As Bitcoin and other crypto assets decline, investors are turning cautious ahead of the release of key employment and inflation data in the U.S.Analysts say the market is in a consolidation phase, waiting for clarity on interest rate policy, while the demand for downside protection in crypto-related stocks like Coinbase and MicroStrategy is rising, reflecting institutions' vigilance towards short-term risks.

According to Decrypt, Denmark's largest bank, Danske Bank, is offering Bitcoin and Ethereum ETPs to investors, ending an eight-year ban on cryptocurrencies. Danske Bank's stance has shifted, stating it is in response to the growing demand from customers.Previously, the bank had explicitly stated that it would not provide any type of cryptocurrency services. While it acknowledges that the cryptocurrency market has matured in recent years, it still emphasizes that it does not recommend cryptocurrencies as an asset class.

According to CoinDesk, UK asset management firm Aviva Investors has announced a partnership with Ripple to issue and manage tokenized fund products on the XRP Ledger (XRPL).It is reported that this is Aviva Investors' first foray into tokenized funds, aiming to incorporate blockchain products into its traditional asset management business system. Ripple will provide technical support to assist Aviva Investors in building the tokenized fund structure on the XRPL.

The Chief Executive Officer of the Hong Kong Securities and Futures Commission (SFC), Ashley Alder, stated at the Consensus Hong Kong conference that the regulatory body will release a "high-level framework" allowing licensed trading platforms to offer perpetual contract products. Alder pointed out that these products will initially be open only to institutional investors and not to retail customers.The relevant framework will focus on risk management, requiring platforms to have robust risk control capabilities and ensuring that trading mechanisms are fair to clients. In addition, the Hong Kong SFC will also allow brokers to provide financing services to clients with good credit standing, with collateral including securities and virtual assets. Given the high volatility of virtual assets, initially only Bitcoin (BTC) and Ethereum (ETH) will be eligible as collateral.In terms of market-making activities, if platforms engage in related services, they must establish independent market-making departments and implement strict conflict of interest management mechanisms. Alder stated that these measures continue the SFC's roadmap to promote the development of the local crypto market by 2025, aiming to allow compliant institutions to offer a wider range of products and services.