Nasdaq's application to trade tokenized equities and MicroStrategy's additional Bitcoin purchase serve as bullish catalysts, accelerating institutional adoption and the convergence with traditional finance. CoinShares' listing on Nasdaq and stablecoin inflows into Ethereum indicate growing industry credibility and ecosystem expansion; overall, the market sentiment leans neutral to slightly bullish.

Fundamental Analysis * Nasdaq Files Proposed Rule Change with SEC for Trading Tokenized Equities Nasdaq's application to trade tokenized equities suggests a potential acceleration of the convergence between traditional financial markets and blockchain technology. If approved, this could grant institutional investors easier access to tokenized assets, potentially enhancing liquidity and accessibility across the broader crypto market. Improved interoperability with the stock market may also unlock new capital inflow channels for major cryptocurrencies like Bitcoin, contributing to price appreciation. * MicroStrategy, Led by Michael Saylor, Acquires Over $200 Million in Additional Bitcoin MicroStrategy's ongoing Bitcoin purchases serve as a strong signal of institutional confidence and long-term holding strategies regarding the cryptocurrency. The company positions Bitcoin as a primary treasury asset, and its aggressive acquisitions reaffirm Bitcoin's scarcity and its role as a store of value. This may encourage other institutional investors to consider similar purchases, becoming a key factor supporting Bitcoin price stabilization and a potential medium-to-long-term upward trend. * European Asset Manager CoinShares to List on US Nasdaq via SPAC Merger CoinShares' planned listing on the US Nasdaq through a SPAC merger is a symbolic event demonstrating the cryptocurrency asset management industry's increasing integration into traditional financial markets. This expands opportunities for institutional investors to directly invest in crypto-related companies, thereby enhancing overall industry transparency and credibility. CoinShares' accelerated global expansion could drive further capital inflows into the crypto market, potentially impacting the prices of major assets like Bitcoin and Ethereum positively. * El Salvador Celebrates Fourth Anniversary of Bitcoin Adoption as Legal Tender El Salvador's continued promotion of Bitcoin as legal tender serves as a test case for national-level cryptocurrency adoption. Indicators such as the growth of its Bitcoin strategic reserve and the number of Bitcoin-certified public officials reflect the adoption and utilization of Bitcoin within the country. However, ongoing monitoring of its economic effects and sustainability is necessary. While its direct price impact on the global crypto market may be limited, the initiative continues to garner attention as a pioneering national-level experiment. * Bitcoin Long-Term Holders Sell 241,000 BTC, Potential for Price Drop Below $100,000 The significant sell-off by Bitcoin long-term holders suggests profit-taking activity in the market, potentially creating short-term downward price pressure. Profit-taking after reaching new all-time highs could particularly dampen market sentiment, possibly leading to a scenario where Bitcoin's price temporarily falls below $100,000. However, this might also present an opportunity to attract new buying demand in the medium to long term. * Ethereum Sees Influx of Approximately $5 Billion in Stablecoins Last Week The substantial inflow of stablecoins into the Ethereum network indicates a vibrant DeFi (Decentralized Finance) ecosystem and expanding economic activity based on Ethereum. This enhances Ethereum's utility and serves as a factor driving demand for ETH. The increase in stablecoin supply signifies greater capital flowing into the Ethereum ecosystem, likely contributing to a rise in Ethereum's price. * HSBC and ICBC Reportedly Considering Hong Kong Stablecoin Licenses The interest from major banks like HSBC and Industrial and Commercial Bank of China (ICBC) in issuing stablecoins indicates the ongoing development of regulatory frameworks for cryptocurrencies, a crucial factor encouraging institutional participation. The entry of international financial institutions into the stablecoin market enhances market credibility and contributes to building a safer, regulated environment for cryptocurrency transactions. This indirectly boosts confidence in Bitcoin and other cryptocurrencies, potentially supporting long-term price appreciation. Overall Summary News such as Nasdaq's application for tokenized stock trading, MicroStrategy's additional Bitcoin purchases, and CoinShares' US listing suggests a convergence between traditional finance and crypto markets, alongside increased institutional involvement. Positive impacts on Bitcoin and Ethereum are anticipated. Conversely, the large-scale sell-off by Bitcoin long-term holders indicates short-term price downside risks. However, El Salvador's initiatives and major banks' interest in the stablecoin market are expected to contribute to medium-to-long-term market growth and enhanced credibility. Overall, the market, significantly influenced by institutional movements and the development of regulatory environments, still holds potential for expansion.

A substantial sell-off by Bitcoin long-term holders could exert downward pressure on the broader market. A key support level is situated around $22; a break below this level risks triggering further declines. Additionally, regulatory news and sharp shifts in market sentiment warrant caution.

For the short term (24-48 hours), the outlook suggests continued trading within the $22 to $24 range. Over the next week, a break above the $24 resistance level could trigger an upward trend; otherwise, range-bound conditions are likely to persist. Key catalysts to monitor include Nasdaq-related news on tokenization and institutional investor activity.

The market is currently undergoing a range-bound consolidation, supported by strong fundamentals such as institutional adoption and integration with traditional finance (TradFi). Technicals indicate a neutral stance, advocating patience with a cautiously bullish bias. Long-term structural shifts remain positive; despite potential short-term profit-taking, the underlying trend is bullish. Actionable strategies involve waiting for buy confirmation around the $22 support level or targeting a breakout above the $24 resistance. Core positions should be established between $22 and $23.50, with initial profit-taking targets set at $24.50-$25. In case of a breakout, follow through above $26, and place stop-losses below $21.50. Key levels to watch this week are the $24 resistance and the $22 support. A decisive break of either level will dictate short-term directionality. Strategies should focus on dip buying and tactical trading within the range. Be mindful of volatility arising from macroeconomic factors, regulatory developments, and potential selling pressure from Bitcoin holders; avoid over-allocation. The convergence of finance and blockchain is an irreversible trend, and the current correction is setting the stage for future growth. Strategic accumulation is advised.