Bitcoin ETF investments by European sovereign wealth funds, the lifting of the UK's ban on ETNs, and progress on US market structure legislation signal growing institutional confidence and new capital inflows into the market. Enhancements to Ethereum's privacy features are also fostering technological advancements and expanding use cases. Against this backdrop of positive fundamentals, we maintain a neutral market bias, adopting a 'neutral-to-bullish' outlook anticipating gradual upside.

* Luxembourg Sovereign Wealth Fund Allocates 1% to Bitcoin ETF Investment by a Luxembourg sovereign wealth fund into a Bitcoin ETF signals growing institutional confidence in crypto assets and suggests new capital inflows into the market. This reinforces Bitcoin's position within the institutional investment landscape, potentially supporting price stabilization and a long-term upward trend. * UK Lifts Ban on Crypto Asset ETNs The UK's decision to permit crypto asset Exchange-Traded Notes (ETNs) indicates the maturation of its digital asset market and regulatory acceptance. This move allows broader investor access to cryptocurrencies within a regulated framework, enhancing market liquidity and transparency. It could potentially stimulate further investment in crypto assets, particularly within the European market. * US Market Structure Bill Shows Potential for Progress Movement towards the enactment of a crypto market structure bill in the United States signals progress in regulatory clarity. Resolving regulatory uncertainty lowers barriers to entry for institutional investors and enhances market credibility. This could potentially accelerate crypto investments within the US market. * Ethereum Developers Announce 'Kohaku' Roadmap for Enhanced Privacy and Security The announcement by Ethereum developers of a roadmap named 'Kohaku', focused on enhancing privacy and security, demonstrates the ecosystem's technological evolution and commitment to user protection. Improved privacy features could unlock wider use cases and attract privacy-conscious users, contributing to Ethereum's long-term competitive strength. * Ethereum Foundation Announces 'Privacy Clusters' Team The establishment of a dedicated team by the Ethereum Foundation focused on enhancing privacy features signals an acceleration in the development of privacy-preserving technologies within the Ethereum network. This initiative could enable more anonymous transactions and private decentralized identity solutions, potentially expanding Ethereum's range of use cases. * SoftBank-backed PayPay Acquires 40% Stake in Binance Japan The acquisition of a 40% stake in Binance Japan by SoftBank-backed PayPay, a major Japanese IT and payments firm, highlights deepening integration between traditional financial/payment services and cryptocurrency exchanges. This could foster wider adoption of crypto assets in the Japanese market and promote their use as diverse payment methods, contributing to Binance Japan's business expansion and credibility. * US Market Structure Bill Advances Despite Government Shutdown The fact that the US market structure bill continues to progress amid a government shutdown indicates that US policymakers prioritize the regulation of the crypto asset market. Regulatory clarity is expected to encourage institutional participation and support the market's healthy growth. The bill's potential enactment represents a significant step in defining the future trajectory of the US crypto asset market. * Solana ETFs Record Over $700 Million in Weekly Inflows Significant inflows into Solana-related ETFs and ETPs suggest increasing institutional interest in the Solana ecosystem. This reflects the recognition of Solana's technological strengths, scalability, and low transaction costs, potentially acting as a catalyst for SOL price appreciation. * Overall Summary The investment in Bitcoin ETFs by a Luxembourg sovereign wealth fund and the UK's lifting of the ETN ban signify rising institutional trust and interest in the crypto asset market, likely contributing to further capital inflows and price stabilization. Furthermore, progress on the US market structure bill and Ethereum's initiatives to enhance privacy are poised to bolster market credibility and establish a foundation for long-term growth through regulatory clarity and technological innovation. These factors are expected to foster the healthy development of the overall crypto asset market and positively impact major cryptocurrencies, including Bitcoin.

Potential downside risks include divergence from major moving averages and the possibility of breaking below the recent low of $21. Deterioration in overall market sentiment and delays in the progress of US regulatory legislation are also potential risk factors. The critical support level is $21; a breach below this level could lead to further declines.

In the short term (24-48 hours), technical indicators are neutral, suggesting that trading is expected to continue within the current range. In the medium term (1 week), positive fundamentals are anticipated to support the market, potentially leading to an attempt to break out above $24. Key catalysts to watch include specific developments regarding US regulatory legislation and privacy-related updates for Ethereum.

Overall, the LINK market is underpinned by strong fundamentals. Investments in Bitcoin ETFs by European sovereign wealth funds, the approval of ETNs in the UK, and progress on market structure legislation in the US signal growing institutional confidence and regulatory clarity, suggesting a positive impact on the market. Additionally, Ethereum's initiatives to enhance privacy are expected to bolster its long-term competitiveness. While technically neutral, the market bias leans towards 'neutral-to-bullish,' as positive fundamentals offer downside support and establish a foundation for gradual appreciation. As for investment strategy, consider initiating long positions upon a decisive break above the $24 resistance level. Entry points are targeted between $24.20-$24.50, with an initial profit-taking target set in the $25.00-$25.50 range. Strict adherence to stop-loss orders below $20.50 is crucial. The medium-term target is set at $27-$28, contingent upon close monitoring of market dynamics and regulatory advancements. This week's focus will be on US regulatory bills and Ethereum's privacy developments. For risk management, maintaining the $21 support level is essential. Vigilance is required regarding abrupt macroeconomic shifts, and disciplined trading practices should be maintained. Capitalizing on the positive fundamentals requires calm judgment to seize opportunities, which is key to success.