QCP Capital: SEC’s Establishment Of New Crypto Task Force Could Mark Turning Point For Digital Assets
In Brief
QCP Capital notes that further gains for Bitcoin remain uncertain, as the market stays cautious with investors closely watching to see if upcoming Donald Trump’s executive orders on digital assets will meet long-standing expectations.
Singapore-based cryptocurrency trading firm QCP Capital released a market analysis, noting that the US Securities and Exchange Commission (SEC), under its new leadership, has formed a specialized task force focused on shaping a regulatory framework for digital assets. This initiative, led by SEC Commissioner Hester Peirce—widely known for her pro-cryptocurrency stance—could mark a major shift in the regulatory landscape.
Bitcoin, which initially faced a dip following Donald Trump‘s inauguration, has since rebounded by 3.8%, stabilizing around the $105,000 level. However, further gains remain uncertain as the market remains cautious, mindful of past instances where the president’s ambitious promises on cryptocurrency have not always translated into concrete action. Investors are now watching closely to see whether upcoming executive orders on digital assets will meet long-standing expectations.
In the futures market, Bitcoin remains on an upward trajectory, with strong net-long positioning from last week holding firm. Bullish sentiment dominates, with long positions currently outpacing shorts by approximately 20 to 1, indicating continued confidence in Bitcoin’s upward potential.
MicroStrategy Expands Authorized Shares To 10.3B, Strengthening Bitcoin Accumulation Strategy
Meanwhile, MicroStrategy continues its aggressive Bitcoin accumulation strategy. The company’s shareholders have approved a large expansion in the number of authorized Class A common and preferred shares, increasing the total from 330 million to an impressive 10.3 billion. This move enhances MicroStrategy’s equity base, bringing its total authorized shares to a level surpassed only by a few Nasdaq 100 giants, including Nvidia, Apple, Alphabet, and Amazon.
Looking ahead, MicroStrategy has set ambitious funding goals, aiming to raise $42 billion through equity and convertible note offerings by 2027. With $5.42 billion in equity offerings still available, the company remains deeply committed to its Bitcoin strategy, reinforcing its position as one of the most influential institutional holders of the cryptocurrency.
Bitcoin Holds Above $105K, ETFs See $802M In Net Inflows
As of the current writing, Bitcoin is trading at $105,345, reflecting a 0.88% increase over the past 24 hours. During this period, Bitcoin’s price fluctuated between a low of $102,886 and a high of $107,145, showcasing its typical intraday volatility.
According to data from SosoValue, the total net inflow into Bitcoin spot exchange-traded funds (ETFs) reached $802 million during yesterday’s session. Notably, Grayscale’s GBTC ETF recorded no net outflows yesterday, maintaining its cumulative historical net outflow at $21.654 billion. Meanwhile, the Grayscale Bitcoin Mini Trust ETF saw a daily net inflow of $136 million, bringing its total historical net inflow to $1.096 billion. The largest single-day net inflow among Bitcoin spot ETFs was recorded by BlackRock’s IBIT ETF, which added $662 million. This pushed IBIT’s total historical net inflow to $39.074 billion, reinforcing its dominant position in the market.
At the same time, the global cryptocurrency market capitalization experienced a 1.27% increase, reaching $3.63 trillion. However, overall trading volume declined by 35.40% from the previous day, totaling $170 billion, as reported by CoinMarketCap.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
