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Wu Says Daily Selected Crypto News - Arthur Hayes: Bitcoin May Find Support Around $70,000

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#Bitcoin
吴说
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Mar 11, 2025

1. Arthur Hayes: Bitcoin May Find Support Around $70,000

Arthur Hayes, co-founder of BitMEX, tweeted that Bitcoin may find support around $70,000, having retraced 36% from its historical high of $110,000, which is quite normal in a bull market. Following this, we need a free-fall crash in the U.S. stock market, leading to the bankruptcy of major players in traditional finance. Then, the Federal Reserve and central banks around the world will start to inject liquidity to stabilize the market, at which point it will be time to go All in. Traders will try to bottom fish; if you are risk-averse, you can wait until central banks start injecting liquidity before increasing your positions. You may not perfectly time the bottom, but you won't have to suffer through a long consolidation period and potential unrealized losses.

2. ARK Invest Founder: Current Market is Digesting the Final Stage of a Rolling Recession

Cathie Wood, founder of ARK Invest, tweeted that the current market is digesting the final stage of a rolling recession, which will give the Trump administration and the Federal Reserve (Powell Fed) more policy adjustment space than investors expect, potentially pushing the U.S. economy into a "deflationary boom" in the second half of this year.

3. Trump Plans to Sign New Executive Order to Lift Crypto Banking Restrictions and Adjust Stablecoin Regulation

U.S. President Donald Trump plans to sign a new cryptocurrency-related executive order as early as this week, aimed at rescinding the Biden administration's "Operation Chokepoint 2.0" policy, which is said to restrict crypto companies from accessing banking services. Bo Hines, executive director of the White House Digital Assets Working Group, confirmed that the order is being drafted and may involve adjustments to the Federal Reserve's policy regarding crypto bank master accounts to allow access to the Federal Reserve's payment system. Sources say the order may also include instructions clarifying that stablecoins should not be considered securities.

4. Hacker Group “Dark Storm” Claims Responsibility for DDoS Attack on Twitter Platform

The Russia-backed hacker group “Dark Storm” has claimed responsibility for a distributed denial-of-service (DDoS) attack that recently caused widespread outages on the Twitter platform. According to information released by cybersecurity organization SpyoSecure on March 10 via Twitter, Dark Storm claimed responsibility for the attack in their Telegram channel, which was later deleted for violating platform service terms. Elon Musk confirmed that the platform experienced a cyber attack on March 10, with some users unable to access the site, but user functionality was quickly restored. In an interview with Fox Business Channel, he stated that the attack originated from an IP address in Ukraine.

5. SBF Seeks Pardon from Trump

Former FTX CEO Sam Bankman-Fried (SBF) is seeking a pardon from President Trump. Despite SBF recently launching a series of right-wing media campaigns, including participating in the "Tucker Carlson Show" without approval (which resulted in him being placed in solitary confinement), insiders in the political sphere believe the chances of this attempt succeeding are very low. A cryptocurrency lobbyist, who wished to remain anonymous, bluntly stated that SBF’s chances of being pardoned are "zero." Another cryptocurrency industry lobbyist mentioned that the chances of SBF receiving a pardon are increasing as Trump’s ties to the crypto industry grow closer.

6. SEC Acting Chair Mark Uyeda Pushes to Withdraw Proposal for Expanded Crypto Exchange Regulation

The U.S. Securities and Exchange Commission previously proposed a regulatory rule aimed at expanding the definition of trading venues to include crypto asset-related businesses, but acting chair Mark Uyeda is pushing to withdraw this measure. He stated that tying regulations of the Treasury bond market to strict controls over the crypto market is a mistake and noted that the proposal's expansion of the definition of "exchanges" has received significant negative feedback from the crypto industry, prompting him to request an option to abandon that portion of the content. The rule was originally intended to bring certain "communication protocols" under SEC oversight, potentially affecting a variety of protocols involving crypto assets.

 

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