Preface
In the past 24 hours, Bitcoin and Ethereum have risen by 1.21% and 0.11%, respectively, with current prices at $83,567 and $1,898, and an ETH/BTC exchange rate of 0.023. The Crypto Fear & Greed Index stands at 45, indicating a state of fear.

Market Trending

On Wednesday, buoyed by moderate inflation data, the cryptocurrency market experienced a slight rebound, with Bitcoin reaching a daily high of $84,487 and a 24-hour increase of 1.21%. Altcoins saw a general rise of 5%.

Despite a significant downturn in both the stock and cryptocurrency markets earlier this week, traditional markets opened higher on Wednesday following the Consumer Price Index (CPI) data indicating a cooling of inflation. The inflation rate for February rose by 0.2% to 2.8%, lower than the predicted 2.9% and January’s 3%. After the inflation report was released, Trump assured reporters that the prospect of achieving an economic golden age remains within reach, reiterating his vision for the nation’s financial future. Previously, market sentiment had been tense due to Trump’s pro-tariff trade policies and his denial of an economic recession. However, the moderate inflation data has boosted investor confidence, leading to a 1% recovery in the total market capitalization of cryptocurrencies, approaching $2.8 billion.

In the altcoin sector, meme coins followed the market’s upward trend, with DOGE rising 2.9% in 24 hours, surpassing $0.17, and TRUMP returning to $10. PEPE and WIF saw increases of over 10%. However, the DeFi sector did not follow suit, with UNI dropping below $6 and AAVE, ENA, and others declining by 5%. The AI sector showed slight recovery, with ATH rising over 15% due to positive news, while GRIFFAIN, FARTCPIN, and KAITO also saw gains exceeding 15%.

Although the inflation data has alleviated some of the anxiety in traditional and crypto markets, the fragile balance between Trump’s political and economic rhetoric and actual economic changes persists. Broader economic uncertainties and unclear policies continue to disrupt investor confidence, and the market requires clearer signals to digest the current tension. The upcoming FOMC meeting next Thursday may set the tone for investors’ future investment directions, breaking the current state of indecision.

Spot Bitcoin ETF Flows

The U.S. spot Bitcoin ETF saw a net inflow of $14.03 million yesterday, with ARKB experiencing a net inflow of $82.6 million, IBIT seeing a net outflow of $46.36 million, and GBTC facing a net outflow of $11.81 million.

Check Out the Latest Prices, Charts, and Data of BTC/USDT Spot and BTC/USDT Perp!

Daily Spotlight

Today’s spotlight is IP, with a 24-hour increase of 15.34%.

Story Network (IP) is a decentralized intellectual property (IP) management protocol based on blockchain technology. It aims to reconstruct the global creative economy ecosystem through transparent copyright tracking and revenue distribution mechanisms on-chain. Its core is to build a Layer 1 blockchain specifically designed for IP, enabling modular registration, collaborative derivatives, and automated royalty distribution, addressing issues such as rights confirmation difficulties, inefficient collaboration, and opaque revenue distribution in the traditional IP market. The native token of Story Network is IP, which serves functions such as staking, governance, and gas fee payments.

IP has seen a 24-hour increase of 15.34%, currently priced at $6.285.

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The Word on the Street

Bloomberg Analyst: Approval of Crypto ETFs May Be Delayed Until New SEC Chair Takes Office.

Reports indicate that the U.S. Securities and Exchange Commission (SEC) has postponed decisions on several spot cryptocurrency ETF applications, including those for XRP, Solana (SOL), Dogecoin (DOGE), and Litecoin (LTC). Bloomberg ETF analyst James Seyffart stated that the SEC is unlikely to approve or reject these applications before the confirmation of Paul Atkins, the SEC chair nominated by Trump. Seyffart pointed out that while Trump has nominated Atkins to succeed the SEC chair, no confirmation hearing has been scheduled yet. Additionally, the approval of spot Bitcoin and Ethereum ETFs has historically taken years, with the SEC previously considering the maturity of the futures market for these assets as a key approval criterion, which the pending ETF applications have not yet met. Nevertheless, analysts believe that the probability of some altcoin ETFs being approved by the end of this year remains above 65%. However, the final outcome will depend on the confirmation of the new chair and their policy direction.

Project Funding

Axelar Foundation Discloses Completion of $30 Million AXL Token Sale.

The Block reports that the Axelar Foundation has announced a strategic AXL token sale valued at $30 million. The foundation stated that several cryptocurrency investors participated in this token sale, including Arrington Capital, Distributed Global, Electric Capital, and Laser Digital. Axelar is a decentralized cross-chain communication network that enhances interoperability in Web3 by connecting heterogeneous blockchains and optimizing asset mobility and programmability for builders and end-users. The Axelar Foundation plans to expand the use of the dollar through stablecoins and support the tokenization of real-world assets (RWA) through its interoperability protocol.