U.S. CPI: +2.9% YEAR-OVER-YEAR (EST. +2.9%); U.S. CORE CPI: +3.2% YEAR-OVER-YEAR (EST. +3.3%)

On February 5th, as per the report by CoinDesk, Citibank's latest research indicated that with the maturation of the cryptocurrency market, the expansion of the investor base, and technological advancements, its correlation with the stock market will gradually diminish. The report reveals that by 2024, cryptocurrency will be the only asset class with a growing market capitalization share within the US stock market. Analyst Alex Saunders stated that a more transparent US regulatory framework will prompt cryptocurrency to form more independent trends. Meanwhile, with the increasing participation of institutional investors, the volatility of Bitcoin is expected to decrease in the long run. Citibank also recommended paying attention to the correlation between Bitcoin and gold, believing that this might indicate the development of its store of value property.

On February 5th, Anthony Scaramucci, the founder of SkyBridge Capital, commented on the tariff dispute. He stated that the unpredictable behavior of President Trump will lead to short-term market volatility. Bitcoin and cryptocurrencies are long-term winners, but "you need to be fully prepared to bear the impact of Trump's policies." Scaramucci also said: "If there is full-fledged institutional adoption and banks can act as custodians of cryptocurrencies, hold them on their balance sheets, and deploy their capital to become a major investor in cryptocurrencies, perhaps even just Bitcoin. I think this would be a profoundly significant and extremely powerful move." (FT)

On February 5th, according to The Block, the supply of ETH has reached 120,521,523 ETH, with an increase of approximately 383 ETH compared to the merge in September 2022. Presto Research analyst Jaehyun Ha explained that this inflation is mainly attributed to the Dencun upgrade implemented in March 2024. The upgrade introduced a blob transaction mechanism using a separate fee unit, reducing the original ETH burn effect, which may have an impact on Ethereum's deflationary properties as a "sound money". DeSpread Research researcher Byoungjoon Kim pointed out that the recent meme coin craze has led to a large number of users and liquidity shifting to the Solana network. Coupled with the emergence of numerous Layer 2 solutions after the Dencun upgrade, this has also had an impact on the Ethereum ecosystem. In previous news, the current circulation of ETH has exceeded the level before the Ethereum PoS merge.

On February 5th, according to a report from Blockworks, Katherine Dowling, the General Counsel of Bitwise and a former US prosecutor, stated that the SEC is currently in a "transition period" and it is necessary to wait for the confirmation of the incoming Chairman Paul Atkins. Dowling pointed out that the cooperation between the SEC and the CFTC is strengthening, and the newly formed cryptocurrency working group has a positive attitude. However, regarding the securities status of assets such as XRP and Solana, the SEC still requires guidance from the new leadership. She expects that a Bitcoin Ethereum combined ETF will be approved more quickly, while ETFs for other cryptocurrencies will take longer to be approved.

February 5th: As per LookIntoChain, a form of smart money which had previously amassed a profit of over $10.1 million through TRUMP, today it invested $1.82 million to acquire ENRON tokens. However, it eventually sold them at a price of $1.11 million, resulting in a loss of $0.709 million within just 30 minutes.

On February 5th, according to Tokenpost, Chairman Shin Yoo-shik of the Shinhan Financial Investment Association stated at a New Year's meeting held on Yeouido Island in Seoul that they will actively provide support for the institutionalization of domestic tokenized securities and the approval of virtual asset ETFs. Chairman Shin pointed out that considering that Bitcoin and Ethereum spot ETFs are already being traded on exchanges in the United States, Hong Kong, Canada and other places, South Korea should also list at least a Bitcoin or Ethereum ETF and cultivate it as a financial product. He emphasized that they will continue to propose to financial authorities to allow virtual asset ETFs to ensure that South Korea does not lag behind in this trend.