Group 1 - The proposal for the U.S. Treasury to purchase 1 million bitcoins as a strategic reserve highlights the growing interest in bitcoin as a potential alternative to traditional assets like gold and oil amidst the $36 trillion U.S. debt crisis [1] - Bitcoin's decentralized nature, scarcity, and global liquidity position it as a strong contender for becoming the third major reserve asset, following gold and oil [1] - The trend of traditional financial institutions investing in bitcoin indicates a significant shift in the financial landscape, with decentralized exchanges like XBIT emerging as preferred platforms for secure bitcoin transactions [1] Group 2 - The tokenization of real-world assets (RWA) is gaining traction, driven by major players like BlackRock and Fidelity, which is expected to lower the investment threshold for traditional financial products [3] - RWA tokenization allows for higher yields, with traditional U.S. Treasury bonds offering 4% annually, while RWA-backed lending can yield over 10% [3] - Regulatory challenges remain a key concern, with the U.S. advancing through a "permissioned chain + institutional leadership" model, while Hong Kong has missed opportunities due to regulatory fragmentation [3] Group 3 - USDT has become synonymous with "on-chain dollars," and the full tokenization of U.S. Treasuries could reshape global capital flows [4] - Emerging markets are exploring alternatives to the dollar system, such as "gold ETF tokenization," raising concerns about potential "on-chain colonization" by Wall Street [4] - Decentralized finance (DeFi) platforms like XBIT allow users to trade assets directly without relying on traditional banks or brokers, providing a safeguard against centralized control [4] Group 4 - In the short term (1-3 years), bitcoin may enter national reserves, and RWA tokenization is expected to surge [5] - In the medium term (3-5 years), a structured on-chain dollar system will emerge, prompting emerging markets to seek alternatives [5] - In the long term (5-10 years), a dual-track financial world combining on-chain and off-chain systems may become a reality, emphasizing the importance of choosing the right trading platform [5][6] Group 5 - The financial revolution driven by RWA and bitcoin reserve strategies signifies a redistribution of financial power, necessitating secure and decentralized entry points for ordinary investors [8]

Core Viewpoint - The article discusses the potential market trends following the consensus on tariff adjustments between China and the U.S., emphasizing the expected outperformance of non-U.S. assets, particularly gold and Hong Kong stocks, in the current economic climate [1][2][11]. Group 1: Market Trends and Asset Performance - Non-U.S. assets are expected to outperform this year, with gold significantly leading the way [2][11]. - The article suggests that this year should focus on assets outside the U.S., such as Hong Kong stocks, the euro, and gold [3][13]. - The weakening of the U.S. dollar is anticipated to continue for several years, impacting gold prices positively [8][19]. Group 2: Hong Kong Stock Market Outlook - The Hong Kong stock market is projected to reach new highs, with a specific forecast of surpassing 24,000 points by the third quarter [6][45]. - The article notes that the recent high of 24,874 points was observed in March, and a new peak is expected soon [7][45]. - Key sectors expected to drive this growth include technology, consumer goods, and healthcare, supported by favorable national policies and strong earnings growth [47]. Group 3: Economic Influences and Predictions - The article highlights that individual actions, such as those by former President Trump, cannot alter the overall economic cycle but can increase market volatility [5][30][34]. - The article emphasizes the importance of understanding the logic behind market valuations, particularly regarding the price-to-earnings (PE) ratios of Hong Kong stocks [41][42]. - It suggests that significant inflows of capital from mainland China could positively impact the Hong Kong market [43].

Glassnode数据显示，持有超过1000枚比特币的比特币巨鲸地址数量显著增加，从3月1日的1945个上升至5月7日的2006个。这标志着2025年以来该群体 最显著的30天增长，也是自2024年第一季度以来的最大增幅，当时类似的积累趋势预示着比特币在2024年3月创下历史新高。 比特币再次突破关键的10万美元关口！ 5月8日，比特币重返10万美元。截至北京时间5月9日14时30分，比特币报103146美元，24小时涨幅达到4.15%。 不过，于佳宁也指出，尽管机构的大规模涌入为比特币市场带来了更高的资本流动性和声誉背书，但它同样引发了市场结构复杂化、波动性增强与监管 敏感度提升等一系列新问题。从流动性角度来看，机构买盘对比特币价格形成了显著的底部支撑，强化市场的中长期持有信念。但另一方面，若机构配置行 为趋同化且高度杠杆化，市场将面临周期性回撤时更强的系统性风险。 记者了解到，过去一段时间，多家机构宣布购入比特币。5月7日，日本上市公司Metaplanet再度增持比特币。今年4月，"比特币大户"Strategy（原 MicroStrategy）在一个月的时间内，三批购入25370枚比特币，总计花费约22. ...

而 在 今 天 稍 早 前 ， 比 特 币 持 续 走 高 ， 自 2 0 2 5 年 2 月 以 来 首 次 突 破 1 0 万 美 元 。 截 至 北 京 时 间 5 月 9 日 1 6 : 4 0，比特币报1 0 3 3 0 8美元， 2 4小时涨超4% 。 狗狗币2 4小时涨幅近1 4%。 作 者丨赖镇桃 编 辑丨李莹亮 刘雪莹 5月9日，以太坊日内涨幅扩大，截至9日1 6 : 3 6，过去2 4个小时内上涨超2 6%。 Ha s hKe y Gr o u p首席分析师丁肇飞向2 1世纪经济报道记者分析："更深层次来看， 全球去美元化进 程为比特币提供了长期动能。 美元占全球外汇储备比例从6 6%降至5 8%，新兴市场央行增持黄金， 2 0 2 4年全球储备达4 9 7 4吨。这种宏观环境下， 而比特币作为'数字黄金'的替代性需求激增。 " 不少人把比特币比作"数字黄金"，是因为这一加密货币有着两个关键特征——分散性质，以及最重 要的是供应有限。IG Fr a n c e的首席市场分析师Al e x a n d r e Ba r a d e z指出，我们已经知道比特币的总 量不超过2 1 0 0万枚， ...

华夏时报（www.chinatimes.net.cn）记者 赵奕 上海报道 5月8日，比特币（BTC）价格自前一日93327美元的低点，一路拉升至99374美元，最大涨幅超6.4%，现报99004.4 美元，市场正密切关注其能否再度突破10万美元关口。 比特币价格回升的背后，机构买盘狂潮愈演愈烈。5月7日，美股上市公司Thumzup宣布拟筹集最高5亿美元的资 金，用于增加运营资本并进一步推进其比特币收购战略。同日，日本上市公司Metaplanet宣布再度斥资5340万美元 增持555枚比特币。除机构外，5月7日，新罕布什尔州成为美国首个通过战略比特币储备法案的州，授权该州财务 部长以受监管的储备结构持有比特币。 "尽管机构的大规模涌入为比特币市场带来了更高的资本流动性和声誉背书，但它同样也引发了市场结构复杂化、 波动性增强与监管敏感度提升等一系列新问题。"Uweb校长、中国通信工业协会区块链专委会共同主席于佳宁向 《华夏时报》记者表示，从流动性角度来看，机构买盘对比特币价格形成了显著的底部支撑，强化市场的中长期 持有信念。但另一方面，若机构配置行为趋同化且高度杠杆化，市场将面临周期性回撤时更强的系统性风险。 ...

Group 1 - The core viewpoint of the articles highlights a significant "supply crunch" in the Bitcoin market, driven by institutional accumulation and ETF inflows, pushing Bitcoin prices towards $200,000 by 2025 [1][4] - According to Bernstein's report, 80 companies have accumulated 700,000 BTC, representing 3.4% of the total supply, while the net inflow into U.S. spot Bitcoin ETFs reached $3 billion last week, increasing institutional holdings to 33% [1] - The balance of BTC on exchanges has dropped from 16% in 2023 to 13%, indicating that Bitcoin is being removed from the market and locked in institutional "digital vaults" [1] Group 2 - XBIT decentralized exchange is emerging as a safer and more transparent asset custody option for institutional investors, as traditional centralized exchanges face regulatory risks and frequent hacking incidents [2] - The platform's on-chain trading volume is increasing, particularly as companies like MicroStrategy continue to accumulate Bitcoin, with their latest holdings exceeding 440,000 BTC [2] - XBIT's anti-censorship features are making it a complementary channel for institutions to "invisibly accumulate" Bitcoin [2] Group 3 - Bernstein's bold predictions suggest Bitcoin could reach $200,000 by the end of 2025, $500,000 by 2029, and over $1 million by 2033, based on the "halving effect" and ETF demand [4] - The narrative of Bitcoin as "digital gold" is strengthening, with the Trump administration promoting a "crypto capital" plan that could attract more funds into the market [4] - XBIT's global accessibility may serve as a key entry point for emerging market users to participate in the upcoming bull market [4] Group 4 - With 9% of BTC supply controlled by institutions, retail investors are encouraged to consider non-custodial platforms like XBIT to balance flexibility and security [5] - The anti-censorship characteristics and the principle of "your keys, your assets" are making XBIT increasingly popular among investors amid the institutional accumulation trend [5] - Decentralized trading platforms are providing retail investors with a strategic advantage, allowing them to securely hold their Bitcoin as prices approach $200,000 [6]

美联储维持利率不变，比特币冲向10万美元关口，ETF资金持续流入推动市场 3. 操作策略 3.1 突破追踪策略 3.2 高位回调买入策略 3.3 趋势突破确认策略（短线交易者） 突破97,000美元大关：BTC现报约96,901美元（OKX最新数据），较昨日小幅下跌0.03%，但本周 累计上涨超过3%。近期价格表现强劲，日内交易区间为94,168-97,394美元，盘中一度逼近98,000 美元高位，为自2月中旬以来的最高水平。根据新浪财经报道，比特币已再次逼近10万美元大关， 本轮涨势明显。 技术形态呈现多头强势：日线图上比特币持续站稳90,000美元上方，并成功突破前期95,000美元阻 力位，形成连续上升态势。MACD指标金叉后红柱体持续扩大，RSI虽接近70的超买区域但尚未 形成明显背离，显示上升动能依然强劲。布林带开口向上，价格运行在上轨附近，表明短期趋势 仍然向上。 美联储维持利率不变释放积极信号：5月1日，美联储FOMC会议决定维持联邦基金利率不变，但 在声明中修改了对通胀的评估，指出通胀"取得了一些进一步进展"。市场认为这表明美联储更倾 向于在未来放宽政策，可能提前进入降息周期，刺激了风险资产 ...

Core Viewpoint - Bitcoin is showing signs of a potential shift towards being viewed as a store of value similar to gold, rather than a high-risk asset correlated with stocks [1][2][3] Group 1: Bitcoin's Recent Performance - Bitcoin has demonstrated relative strength against U.S. stocks and the dollar, which have both declined due to uncertainties surrounding Trump's trade policies [1] - Over the past month, Bitcoin has increased by 7.1%, while the Dow Jones Industrial Average has decreased by 6%, and the ICE Dollar Index has fallen by 4.7% [2] - Despite this, Bitcoin remains 14.5% below its all-time high of $109,225 reached on January 20 [2] Group 2: Institutional Adoption and Market Sentiment - There is a belief that Bitcoin may have reached a level of institutional adoption, with investors beginning to focus on its intrinsic value rather than viewing it solely as a high-beta tech stock [3] - The launch of Bitcoin exchange-traded funds (ETFs) has opened avenues for more institutional investment in cryptocurrencies [3] - The uncertainty surrounding the dollar's status as a reliable safe-haven asset may lead investors to consider Bitcoin as a potential refuge during market turmoil [3] Group 3: Factors Influencing Bitcoin's Value - The recent strength of Bitcoin may be driven by unique factors, such as the continued purchases by Strategy (formerly MicroStrategy), which bought $555.8 million worth of Bitcoin recently [2] - The narrative surrounding Bitcoin's price remains complex, with potential benefits from increased liquidity, but it lacks traditional economic indicators like profits or cash flow [4] - Expectations of further interest rate cuts by the Federal Reserve could also drive Bitcoin prices higher, with traders anticipating at least two more cuts by the end of the year [4]

Group 1 - Bitcoin price increased by 11.75% to $94,061, reaching a two-month high [1] - Record inflow of $3.1 billion into spot Bitcoin ETFs indicates accelerated institutional and retail investment [3] - The perpetual futures market shows bearish signals, with a significant drop in financing rates to -0.15%, indicating retail investors are paying high costs to maintain short positions [3][5] Group 2 - The correlation between Bitcoin and the S&P 500 index has decreased from 60% in March to 29%, suggesting Bitcoin is evolving into an independent asset class [3] - Institutional optimism is reflected in the two-month Bitcoin futures premium rising to 6.5%, indicating potential upward positioning [5] - The upcoming Bitcoin halving event in approximately 40 days may lead to market accumulation, with a potential price surge if Bitcoin holds above $96,000 [7]

全球ETF资金流入推高市场预期 美国比特币ETF产品近期资金流入强劲，单日净流入接近10亿美元，创下今年1月以来新高。与此同 时，DeFi和Web3.0创新正持续引领加密货币市场发展，吸引全球用户参与。虚拟币永续合约作为加密 市场最重要的衍生品工具，交易量与日俱增。分析师预计，随着机构参与度提升，比特币价格有望在短 期内冲击100,000美元大关，带动永续合约市场进一步繁荣。XBIT数据显示，平台上的比特币与以太坊 永续合约交易对最受欢迎，占总交易量的65%以上，这种集中度反映了市场对头部加密资产的信心。 随着全球股市波动加剧与美元继续下跌，比特币价格近日持续攀升，已突破94,000美元大关，创下自3 月初以来的新高。虚拟币永续合约市场随之活跃，成为投资者避险的重要工具。 市场数据显示，比特 币从4月初低点已反弹超过23%，强力空头平仓推动价格进一步上涨。24小时内，各大交易所比特币空 头平仓金额超过3亿美元，显示市场看涨情绪明显增强。 XBIT去中心化交易所平台数据显示，平台虚拟币永续合约交易量较上周增长超过40%，成为本月表现 最佳的交易品种。XBIT去中心化交易所平台首席分析师表示，这一趋势反映了投资者 ...