Victory Securities: Bitcoin's slow rise awaits spillover effects

Zhou Lele, deputy chief operating officer of Victory Securities, wrote an analysis and pointed out that the virtual asset market continued to fluctuate slightly last week. The top assets such as Bitcoin and Ethereum swayed and torn, but Altcoin, which has high odds, is recovering and coming out of the downward channel. OTC Bitcoin ETF flowed into about $3.08 billion last week, and Ethereum ETF flowed into about $5 million; the weak balance in the market was broken, short-term holders gradually increased their holdings, and the recovery stage may start. Virtual asset shadow stock MicroStrategy hit a new high, and its double-long ETF turnover also gradually expanded. The market is hot for meme coin investment, and the market risk appetite has increased, but compared with the asset itself, the willingness to trade high-odds derivatives is stronger. Virtual assets may need to wait for the wealth effect of global stock markets to spill over, driving up market share.