Bitget Daily Digest (4.28)｜Arizona Bitcoin Reserve Legislation Set for Vote, ProShares Trust's XRP ETF to Be Publicly Listed

Today's Preview

1. The U.S. April Dallas Fed Business Activity Index will be released today, previous value -16.3

2. Cboe Digital, the cryptocurrency division of the Chicago Board Options Exchange, plans to launch new Bitcoin futures products today

3. Two Arizona Bitcoin reserve bills are scheduled for a third reading on Monday and may face a final vote

Key market highlights

1. On the 25th, U.S. President Trump stated on Air Force One that tariffs imposed on China will not be lifted unless substantial concessions are made by China. Over the past week, the U.S. side has consistently sent chaotic and even contradictory signals on the tariff issue. Trump posted on social media that when tariffs take effect, many people's income taxes will be significantly reduced or even eliminated. On the other hand, Trump's 100-day approval rating is the lowest for any U.S. president in the past 80 years. A recent poll conducted by ABC, The Washington Post, and Ipsos shows that Trump's approval rating for his first 100 days is 39%, which is down 6 points from February and is the lowest for any U.S. president in their first 100 days in the past 80 years.

2. Strategy (formerly MicroStrategy) founder Michael Saylor posted again on the X platform regarding Bitcoin Tracker, stating: "Stay humble, stack Sats." Based on past patterns, MicroStrategy typically discloses its Bitcoin acquisitions the day after such announcements.

3. According to documents filed with the U.S. SEC, 8 cryptocurrency futures ETFs registered by ProShares Trust on January 17, 2025, are scheduled to take effect on April 30. Public records show that ProShares Trust registered 8 crypto futures ETF products with the SEC on January 17, 2025, including four Solana futures ETFs and four XRP futures ETFs. April 2, 75 days later, was the initially proposed effective date and also the final decision date for the SEC on these 8 ETFs, but the SEC did not respond upon expiration. ProShares Trust filed an amendment with the SEC on April 15, planning for all 8 ETFs to take effect on April 30.

According to former Fox reporter Eleanor Terrett, the 8 crypto futures ETFs by ProShares Trust are applications for futures and leveraged/inverse products, which do not require SEC "approval" like spot products. As long as the SEC does not object within a certain time frame after the application is filed, these products will be effective.

4. Over the past week, the crypto market saw a net inflow of nearly $9 billion, showing a strong resurgence of investor interest. According to Farside monitoring data, U.S. Bitcoin spot ETFs accumulated a net inflow of $3.0629 billion over the past week, with all 5 trading days seeing net inflows; U.S. Ethereum spot ETFs accumulated a net inflow of $157.1 million.

5. According to Bitcoin Laws, two Bitcoin reserve bills in Arizona are scheduled for a third reading next Monday and may face a final vote. If passed smoothly, Arizona is expected to become the first state in the U.S. to formally establish a Bitcoin reserve, marking a significant development in state-level digital asset policy.

Market Trends

1. $BTC fluctuated downward over the weekend, briefly falling below $93,000, with the market generally declining; within the site, CSPR surged over 90%, leading the way, with FIS and BMT rising over 30%.

2. On Friday, all three major U.S. stock indices closed higher, the Nasdaq rose 1.2%; gold continued to retreat.

3. In Bitget's BTC/USDT liquidation map, based on the current 92,827 USDT, if it falls by one thousand points to around 91,789, the cumulative long liquidation amount will exceed $290 million. If it rises by one thousand points to around 93,933, the cumulative short liquidation amount will exceed $140 million. Long liquidation amounts far exceed short ones, it is advisable to reasonably control the leverage ratio to avoid large-scale liquidation during market fluctuations.

4. Within the past 24 hours, spot BTC inflows were $1.032 billion, outflows were $1.239 billion, net outflow $207 million

5. Within the past 24 hours, contracts of $ETH, $BTC, $SOL, $XRP, and $DOGE led in net outflow, possibly indicating trading opportunities

Institutional Insights

Analyst: Bitcoin Back Above 200-Day Moving Average, Bullish Outlook Expected

Original link: https://x.com/ali_charts/

Arthur Hayes: Bull Market Returns, Time to Celebrate

Original link: https://x.com/CryptoHayes/

If Citigroup's Prediction Comes True, BTC May Rise to $285,000 by 2030

Original link: https://coingape.com/

News Updates

1. U.S. SEC Commissioner: U.S. Cryptocurrency Regulation Like Playing "The Floor Is Lava" in the Dark, Time to "Turn on the Lights"

2. Leading Candidate for Fed Chair: Should Speak Less, Mind Own Business, Strictly Control Stimulus

3. Today's Fear and Greed Index Dropped to 54, Level Shifted from Greed to Neutral

4. South Korea's People Power Party: Will Open Virtual Asset Spot ETF Trading and Abolish the "One Exchange, One Bank" Policy as a Presidential Election Pledge

Project Updates

1. Bitcoin Core Developer Proposes to Abolish the “Satoshi” Unit and Remove the Decimal Point

2. Lending Protocol Loopscale Attacked

3. Ethereum Community Member Proposes New Fee Structure at the Application Layer

4. 1inch Team Sells Partial WBTC and Increases Holdings by 5,498,000 1INCH

5. Tokens such as SUI, OMNI, OP Will Face Large Unlocking This Week

6. BNB Chain: Purchased $25,000 Worth of Mubarak

7. USDC Circulation on Solana Exceeds $10 Billion

8. Synthetix: Legacy SNX Staking Positions Cleared, Users Need to Migrate Quickly

9. Arbitrum Exits Nvidia Accelerator Program After Nvidia Refuses to Cooperate with Crypto Companies

10. Ripple President Confirms Company Will Not Go Public in 2025

Highlights on X

1. Owen.btc: Macro and Micro Data Guide Weekly Trading Strategy

With a dense influx of macro data next week, market expectations are set for complex changes. Long positions face rising liquidation pressure, potentially leading to short-term volatility and correction. Focus on market reactions on Monday and U.S. GDP, PCE data on Wednesday. According to historical experience, longs have a significant probability of taking profit ahead of Wednesday’s data, possibly leading to a “long liquidation” scenario. Most mainstream cryptocurrencies are overbought on the daily line, and until macro uncertainties are resolved, trading should remain a volatile outlook; short-term operations should choose assets with high macro sensitivity (e.g., BTC/ETH), avoid taking short positions on altcoins to prevent reverse movements from large capital fluctuations. Overall, maintain a short-term defensive posture and make decisions based on post-data observations, while maintaining a cautiously optimistic long-term outlook.

Original link: https://x.com/OwenJin12/status/1916501381713920406

2. qinbafrank: Monitor Economic Data Impact on Market Trends

Recently, with Trump and Max Baucus continuing to push for tariff negotiations, market sentiment has rebounded as expected, with U.S. stocks and crypto-assets rallying together. Future trends need to focus on the following three key points:

1. Progress in Tariff Negotiations: There has been no substantial progress on the U.S.-China front, but the market has a decoupling expectation, and short-term stalemate is not a major bearish factor. Conversely, any breakthrough will be positive.

2. Economic Data Pressure Prepositioned: This week will see key data: U.S. Q1 GDP and PCE data on Wednesday, non-farm payroll and unemployment data on Friday. Market expectations for Q1 GDP growth are pessimistic (0.4%), if actual data exceeds expectations, it could be short-term positive for risk assets; if below expectations, it may lead to sentiment pullback.

3. Market Trends and Short-Term Pace Assessment: U.S. Nasdaq and S&P 500 near early-April levels, expected to continue testing this resistance in the short term. Bitcoin and major cryptocurrencies have rebounded faster, reaching the upper end of the February fluctuation range ($95,000-$98,000).

Sentiment recovery is basically complete, and the next steps will rely on new macro positives or industry news to drive progress (e.g., the Arizona Bitcoin Reserve legislation nearing vote). Ahead of Wednesday's key economic data release, the market may exhibit risk-aversion sentiment—focus on early-week capital flows and market sentiment changes. If data beats expectations, confidence could be further boosted; if it falls short, guard against potential sentiment retreat and increased volatility.

Original link: https://x.com/qinbafrank/status/1916523825002647678

3. realyanxin: Sign TGE Outlook | Reaffirming Vision and Future Plans

As the TGE approaches, Sign reaffirms its vision:

Mission: To enable everyone to gain more wealth, freedom, and integrity through blockchain. Three major business segments: Digital Infrastructure (collaborating with governments to promote blockchain, identity systems, and asset distribution), Super App (connecting high-quality assets and services for a global community), Web3 Brokerage (providing global asset on-chain distribution and trading services). Sign's future positioning is to become a core force supporting the expansion of global digital identity and stablecoin infrastructure, facilitating the free flow and verification of globalized assets and identities.

Original link: https://x.com/realyanxin/status/1916609980217934041

4. Jason Chen: Aptos Leadership Change Revitalization: $200 Million Ecosystem Support, Staking Yield Proposed to Lower to 3.79%

Aptos recently made significant management changes, with former CTO Avery Ching of Chinese heritage appointed as CEO, signaling an emphasis on Asian and Chinese-speaking ecosystem development. Aptos also set up a physical space "Aptos Space" in Hong Kong and increased support for the Chinese-speaking community through the Movemaker program. Last week, the Aptos community proposed to reduce staking yields from 7% to 3.79% over three months, aiming to control inflation and revive DeFi activity on-chain, laying the groundwork for subsequent ecological growth.

Additionally, the Aptos Foundation announced a $200 million investment to support on-chain application development. The first batch of grant cases includes Onchain Casinos, marking Aptos' strategy gradually shifting towards a more Crypto Native, bolder direction. Technically, thanks to Zaptos architecture optimization, Aptos currently performs exceptionally well in transaction fees and confirmation speed, making it a potential blockchain for high-frequency interactions and PayFi scenarios.

Original link:https://x.com/jason_chen998/status/1916670420784488570