HashKey：比特币和以太坊在未来6–12个月内估值有望上调20-50%

Group 1 - Bitcoin price has surpassed $110,000, marking a new historical record and indicating a potential reshaping of the global financial landscape [1] - The recent passage of the GENIUS Stablecoin Act in the U.S. Senate aims to provide a federal regulatory framework for USD stablecoins, which could enhance liquidity and reduce trading slippage [1] - The expansion of stablecoin supply is expected to significantly boost available funds on exchanges and DeFi platforms, further stimulating market volatility and price momentum [1] Group 2 - Hong Kong has passed the Stablecoin Ordinance, expected to take effect this year, positioning it among the first regions globally to establish stablecoin legislation [2] - The compliance of stablecoins is anticipated to attract more "quasi-USD" funds, enhancing the hedging and value storage attributes of Bitcoin and Ethereum [2] - The global stablecoin market is projected to grow from $250 billion to $1 trillion in the coming years, with Bitcoin and Ethereum potentially seeing a 20%-50% valuation increase in the next 6-12 months [2] Group 3 - The scarcity of Bitcoin is being reinforced by market dynamics, with long-term holders now owning 13.76 million BTC, accounting for 65.6% of the circulating supply [3] - The number of Bitcoin held on exchanges has dropped to 2.437 million, the lowest level since 2018, indicating a rapid decrease in available trading supply [3] - Institutional investments are significantly increasing, with MicroStrategy adding 7,390 BTC recently, bringing its total holdings to approximately $6.1 billion [3]