4E: BTC breaks through $120,000, Ethereum makes a strong push, U.S. legislation and institutional funds boost market sentiment

ChainCatcher message, according to 4E observation, the cryptocurrency market has shown a strong upward trend in the past 24 hours. BTC (Bitcoin) has strongly broken through the $120,000 mark, currently reported at $120,200, with a 24-hour increase of 1.07%; ETH (Ethereum) has also risen to $3,606, with a 24-hour increase of 3.34%. Overall market sentiment continues to warm up driven by multiple positive factors.

In terms of capital flow, Fidelity's spot Bitcoin ETF ------ FBTC saw a net inflow of $7.83 million yesterday, indicating that institutional buying remains robust. SharpLink Gaming has once again significantly increased its holdings by 14,180 ETH today, accumulating over 32,000 ETH, continuously strengthening its Ethereum holding strategy.

On the policy front, on Thursday local time, the U.S. House of Representatives passed three pieces of cryptocurrency legislation: the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance National Act. Among them, the GENIUS Act is expected to be signed into law by Trump on Friday, establishing a long-term friendly regulatory framework for the U.S. cryptocurrency industry. The White House further stated that Trump will sign an executive order allowing 401(k) retirement accounts to invest in cryptocurrency assets and support a "minimum tax exemption" policy for cryptocurrency, aimed at encouraging everyday use.

The market structure also appears strong. Nine U.S. ETFs tracking Ethereum attracted $727 million in a single day, with trading volume reaching a historic high of $2.6 billion. CME Ethereum futures open interest also hit a new high, indicating a significant increase in institutional willingness to allocate ETH. The market capitalization of ETH has also surpassed $432 billion, exceeding retail giant Costco, rising to 29th place globally.

Additionally, Nasdaq-listed company Thumzup's board approved an investment of up to $250 million in BTC, ETH, SOL, and other cryptocurrency assets; Thailand has launched a sandbox mechanism allowing tourists to exchange digital assets for Thai baht for consumption, marking further expansion of cryptocurrency payment scenarios globally.

4E reminds investors: amidst the hot market, it is essential to remain calm, rationally assess market risks, and avoid blindly chasing highs.