1. Yesterday, Bitcoin spot ETF saw a net outflow of $146.05 million; Ethereum spot ETF saw a net outflow of $63.85 million; Solana spot ETF had a total net inflow of $1.87 million in a single day.
2. JPMorgan has initiated coverage of HashKey: giving it a 'Buy' rating, with a target price of 9 HKD.
3. Fidelity will launch a stablecoin FIDD on Ethereum that complies with GENIUS standards.
4. The daily creation of Memecoins on Solana has reached a new high in 11 months.
5. A recent PayPal survey shows that nearly 40% of U.S. merchants now accept cryptocurrency payments, and nearly 90% of merchants reported receiving inquiries from customers about crypto payments. Data indicates that the adoption rate of crypto payments is highest in the hotel, travel, digital goods, and gaming industries.
6. Bitwise's latest report indicates that the likelihood of the passage of the U.S. Clarity Act cryptocurrency legislation has plummeted from 80% in early January to about 50%, mainly influenced by opposition voices within the industry. Bitwise anticipates that the passage of the bill would trigger a rapid market surge, while failure could lead investors to adopt a "wait-and-see" attitude, resulting in slower market growth that relies more on proof of actual applications.
7. South Dakota Representative Logan Manhart reintroduced the Bitcoin Reserve Bill (HB 1155) this Tuesday, marking the second attempt by the lawmaker since taking office in 2025. The bill aims to amend state law to allow the state investment council to invest up to 10% of public funds in Bitcoin.
8. Opinion: The market may be transitioning to a bear market structure rather than experiencing a temporary pullback in a bull market trend. The supply of Bitcoin at a loss has begun to rise again. Historical data indicates that this shift marks the early stages of a bear market, during which losses begin to spread, no longer confined to short-term holders but gradually affecting long-term participants.
