1. Market observation
Key words: ETH, ETF, BTC

Bitcoin remains central to the attention of professional investors and traders, with its volatility offering significant profit potential. After hitting a record high, bitcoin prices have seen a small correction, and market analysts expect 2025 to be a major turning point. At the same time, Robert Kiyosaki, author of Rich Dad Poor Dad, predicted that the price of Bitcoin could soar to $175,000 to $350,000.

The launch of the iShares Bitcoin Trust (IBIT) by BlackRock has set a new benchmark in the ETF market. Despite the challenges facing the Ethereum network, its ETF saw record inflows in December. In addition, BlackRock's Bitcoin ETF surpassed $50 billion less than 11 months after its launch, marking a major milestone in ETF history.

Market sentiment is generally bullish, with experts expecting a significant increase in bitcoin adoption. Galaxy Research says that by 2025, there could be five countries investing in bitcoin as a strategic asset. Meanwhile, Switzerland plans to launch a referendum on the bitcoin proposal, which will move to the next stage if 100,000 signatures are collected by June 2026.

While Bitcoin rose 2.9 percent to $97,526, altcoins including XRP, SOL and DOGE were also in the spotlight for their market dominance. However, market data showed a 35.4% decline in large volume transactions and a slight decrease in daily active addresses. Nonetheless, the market remains optimistic about the long-term outlook for bitcoin and altcoins, thanks to ETF inflows and a continuing improving regulatory environment.

2. Key Data (as of January 3 09:30 HKT)
S&p 500:5,868.55 points (year-to-date -0.22%)

Nasdaq: 19,280.79 (-0.16% during the year)

10-year Treasury yield: 4.568% (year-to-date -0.80 basis points)

Usd Index: 109.18 (year +0.65%)

Bitcoin: $96,651 (+3.56% during the year) with daily spot trading volume of $42.45 billion

Ethereum: $3,448.32 (+3.10% during the year) with daily spot trading volume of $21.7 billion

3.ETF Flows (January 2 EST)
Bitcoin ETF: + $84.8 million

Ethereum ETF: - $77.51 million

4. Important Dates (Hong Kong Time)
ISM Manufacturing PMI (January 3, 11:00 PM)

Actual: To be announced/Previous value: 48.4% / Expected: 48.3%