The CEO of the electric vehicle giant TSL, Elon Musk, whose every word and action can always stir the market's nerves, recently made a rare appearance in the crypto assets community, praising the energy consumption mechanism of Bitcoin. This statement stands in stark contrast to his stance in 2021 when he criticized Bitcoin Mining on environmental grounds and stopped TSL from accepting Bitcoin payments, sparking heated discussions in the market.
On October 14, the well-known financial blog ZeroHedge posted on the social platform X, stating that the surge in gold, silver, and Bitcoin is due to the U.S. and Chinese governments engaging in "currency devaluation" to fund the "AI arms race," prompting investors to seek hedging tools against the devaluation of fiat currency.
Musk not only expressed his agreement but also further elaborated on his latest understanding of the value of Bitcoin:
> This is Bitcoin

Strategy Executive Chairman Michael Saylor recently revealed the company's ultimate ambition – "to strive for accumulating 1 trillion dollars worth of Bitcoin." In his view, the birth of Bitcoin is comparable to humanity's discovery of "fire, electricity, and oil," and he describes Bitcoin as the next generation of "digital energy."
In a recent in-depth conversation with Bitcoin Magazine, Michael Saylor pointed out that the ultimate goal of the Strategy is to accumulate 1 trillion dollars in Bitcoin and use it as a cornerstone to continue expanding the territory. He believes that Bitcoin represents property, capital, and energy in cyberspace, providing a way to transfer value that can transcend time and space.
Michael Saylor emphasized that whether it is governments of various countries or large enterprises, regarding this digital transformation,

As the market rumors that China plans to promote the "Renminbi stablecoin", former Governor of the People's Bank of China (Central Bank) Zhou Xiaochuan issued warnings about the potential risks of stablecoins from "six major perspectives", particularly emphasizing that the Central Bank should be wary of the risks of "excessive currency issuance" and "high leverage magnification".
The "China Finance 40 Forum" published yesterday (27th) the content of Zhou Xiaochuan's speech at a closed-door seminar in July, titled "Multi-dimensional Examination of Stablecoins." Zhou Xiaochuan stated that the current discussions about stablecoins are only from a single perspective, and to deduce the operation and future prospects of stablecoins, a multi-perspective examination is necessary.
1. Central Bank Perspective: Preventing Currency Overissuance and High Leverage Amplification
Zhou Xiaochuan pointed out that from the Central Bank's perspective, there are two major risks that stablecoins need to be wary of: first, the issuing party may "issue (overissue) currency" without sufficient reserves to support it; secondly, there may be "high leverage amplification," meaning that the operation after issuance can generate a multiplier effect derived from the currency.

As Bitcoin reaches its peak, market sentiment turns to a wait-and-see approach. Analyst Markus Thielen suggests that if Bitcoin pulls back to $111,673, it could be an ideal entry point; if it breaks through $120,000, it can also be considered for entry. However, careful operation and attention to Risk Management are necessary.

Bitcoin has seen continuous outflows, with prices declining, coupled with the uncertainties of Trump's tariff policy, resulting in a sluggish market atmosphere; in contrast, Ether has performed better, with expectations that the SEC may approve applications related to Ether ETFs, but the market remains filled with uncertainties. Risks such as US-China trade tensions and the Russia-Ukraine conflict have intensified, leading investors to adopt a wait-and-see approach, which affects the performance of the Crypto Assets market, necessitating attention to market trends.

Donald Trump's two sons, Donald Trump Jr. and Eric Trump, publicly expressed bullish sentiment on Bitcoin, predicting that Bitcoin will surpass $170,000 by the end of 2026. They also revealed that the key driving force behind the Trump family's entry into the crypto world is Bitcoin's major bull, Michael Saylor, the founder of Strategy.
Donald Trump Jr. predicts that Bitcoin will reach between $150,000 and $175,000 by the end of 2026; Eric Trump jokingly stated that Bitcoin "will soar all the way to the moon," then shifted his tone to point out that the supply cap of Bitcoin is amplifying the market's perception of scarcity:
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> Every day, billions of dollars continue to flow into the Bitcoin market, 0.1 Bitcoin in the future

Bitcoin successfully broke through its historical high last week, with the price reaching 110,000 USD. This is not just a price breakthrough; the upward trend is quite healthy. Investors have not been buying Bitcoin through leverage but are mainly benefiting from institutional funds and ETF buying that are driving up the price of Bitcoin. Although there was a slight correction to 107,000 USD on Friday due to the threat from Trump regarding a 50% tariff on the EU and a 25% tariff on Apple, the overall market sentiment and funding situation remain very healthy.
The strong rally of Bitcoin last week was primarily driven by global investors' decreasing interest in dollar assets, concerned that the U.S. "Too Big to Fail" tax cuts would significantly increase the U.S. fiscal deficit, accelerating the risk of bankruptcy in the U.S. Consequently, U.S. bond prices saw a staggering drop, with the yield on 30-year bonds breaking 5.1%, indicating that investors are no longer willing to foot the bill for America's fiscal irresponsibility, and Bitcoin has become

According to Glassnode's latest report, Bitcoin surged to $106,000 earlier, primarily driven by strong demand in the spot market, with a daily net buying pressure on Coinbase reaching as high as $45 million. Unlike previous surges dominated by leveraged speculation, this time it is mainly driven by the natural accumulation in the spot market. The report points out that Bitcoin has seen a significant turnover in the range of $93,000 to $95,000, which has now become a key support level, overlapping with the cost basis of investors who entered the market over the past 155 days.
The derivatives market shows signs of lagging, with the open interest of perpetual contracts dropping by 10%, from 370,000 Bitcoins to 336,000, which may indicate that shorts are being liquidated. However, the funding rate remains neutral, suggesting that leveraged long positions have not yet overheated, which could provide momentum for further pumps, with Bitcoin spot ETF inflows.

As discussions about MetaMask considering the launch of a native Token surface, co-founder Dan Finlay reveals the possibilities but emphasizes that announcements will be made through official channels. Amid the regulatory risks being in a gray area, he calls on the industry to break boundaries through issuing coins. MetaMask is actively enhancing user experience to address challenges from new competitors. Dan Finlay warns that regulatory laws still pose risks.

According to the CryptoQuant report, the price of Ether has recently fallen to its lowest point since 2019, but has since rebounded. However, compared to Bitcoin, Ether is still in a significantly discounted state, with its ETH/BTC market price MVRV ratio having entered the "severely undervalued" range, indicating that the price of Ether has fallen too much compared to Bitcoin, which has often been a signal for price rebounds in the past. However, CryptoQuant analysts believe that the current market environment is different from before, making this undervaluation indicator no longer carry the same meaning.
The reasons why Ether is undervalued include multiple fundamental factors. First, the Dencun upgrade in March 2024 led to a decrease in transaction fees and a reduction in the amount of Ether being burned, resulting in inflationary pressure re-emerging and breaking the previous deflation narrative. Second, on-chain activity has been weak since 2021, with a decline in the number of transactions and active addresses.

Donald Trump's second son, Eric Trump, Executive Vice President of the Trump Organization, stated that if banks do not embrace blockchain technology, they may face the fate of "extinction within 10 years."
Eric Trump stated during an interview with CNBC on Wednesday: "The modern financial system has long been fragmented, inefficient, and costly." He added:
> Anything that operates on the Blockchain can perform better than existing financial institutions. Take the international banking communication and payment system SWIFT (Society for Worldwide Interbank Financial Telecommunication) as an example; it is simply a disaster.
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The Trump family is no stranger to cryptocurrency and blockchain technology. Eric Trump and his brother Donald Trump Jr.

Standard Chartered's latest report predicts that the overall stablecoin market will skyrocket to $2 trillion by the end of 2028, almost 10 times the current $230 billion, and the catalyst for this wave of growth is the GENIUS Act, which is expected to be legislated in the United States this summer.
The bill, known as the Guiding and Establishing National Innovation for U.S. Stablecoins Act, was voted by the Senate Banking Committee last month and will be enacted as soon as this summer.
Geoffrey, Head of Global Digital Asset Research, Standard Chartered