mike

Mike McGlone, Bloomberg's senior commodity strategist, tweeted that the crypto bear market may be in its early stages and stated that if β (market risk) declines, Bitcoin could fall back to $10,000.He disclosed that since the iShares Bitcoin Trust ETF (IBIT) began trading in January 2024, its total return has been roughly on par with the SPDR S&P 500 ETF Trust (SPY), but the former's volatility is about four times that of the latter, with a 200-day correlation close to 0.5. In the absence of higher returns, high volatility and correlation are generally unfavorable for asset allocation. He also pointed out that since the birth of Bitcoin in 2009, the number of crypto assets has reached millions, most of which lack substantial support but still have valuations in the billions of dollars.

According to CoinDesk, Bloomberg Industry Research analyst Mike McGlone had previously predicted a decline in Bitcoin prices but faced criticism for being overly alarmist and posing too high a risk for investors.Subsequently, McGlone raised his target price for Bitcoin's decline from $10,000 to around $28,000. McGlone believes that, based on historical price distribution, $28,000 is a more likely level and maintains that his analysis indicates why investors should avoid Bitcoin and other risky assets.

According to CriptoNoticias, American investment analyst Mike Zaccardi stated that he will be re-buying Ethereum (ETH) this week, after previously selling part of his ETH ETF position for tax reasons.Zaccardi pointed out that technical indicators show "the adjustment may be coming to an end," with ETH showing strength against Bitcoin for the first time since August. He mentioned that ETH fell 47% within three months after approaching $5000, dropping to a long-term support level of $2600 at one point. The analyst believes that the relative strength index (RSI) has broken through a downward trend line, which could be an early signal for a price increase. Although $4100 remains an important resistance level, he sees possible signs of stabilization. From a seasonal perspective, Zaccardi noted that historically, ETH performs strongly from December to May, while it experiences significant volatility from June to November. He plans to keep his ETH ETF position at 0.5% of his portfolio.

Alpine Fox LP founder Mike Alfred posted, "Institutions are going all out to manipulate perpetual contracts and futures derivatives, trying to drive down the price of Bitcoin and intimidate investors into selling, which is one of the biggest scams in the market."BitMine Chairman Tom Lee retweeted and expressed his agreement.

Alpine Fox LP founder Mike Alfred posted, "Institutions are doing everything they can to manipulate perpetual contracts and futures derivatives, trying to drive down the price of Bitcoin and intimidate investors into selling, which is one of the biggest scams in the market." BitMine Chairman Tom Lee retweeted and expressed his agreement.

ChainCatcher news, according to Crypto In America, the White House has officially nominated SEC cryptocurrency working group chief legal counsel Mike Selig to serve as the chairman of the Commodity Futures Trading Commission (CFTC), ending weeks of leadership uncertainty.This nomination comes at a critical time as the Senate advances legislation on cryptocurrency market structure, which will grant the CFTC broader regulatory authority over digital assets. Selig previously worked at the CFTC under former chairman Chris Giancarlo and has extensive experience in the cryptocurrency field.Meanwhile, the White House is considering candidates, including Paul Balzano and Nathan Anonick, to fill the vacancies on the five-member commission. The Senate Agriculture Committee is expected to soon release its draft for digital commodity regulation, complementing the proposal from the Banking Committee. Industry insiders widely support having experts who understand cryptocurrency lead the CFTC.

ChainCatcher news, according to Crypto in America, the White House is about to announce Mike Selig as the nominee for chairman of the Commodity Futures Trading Commission (CFTC).Selig is currently the chief legal advisor of the SEC's cryptocurrency working group and is considered the ideal candidate to coordinate the regulation between the SEC and CFTC.

ChainCatcher news, during the RootData Crypto Capital Markets Forum held at TOKEN 2049 in Singapore, RedStone Strategic Advisor Mike Massari delivered a keynote speech on Oracle Extractable Value (OEV). He introduced that RedStone is one of the fastest-growing oracles, currently serving over 100 clients and supporting more than 60 chains, securing $4 billion in assets.He pointed out that the current liquidation process in DeFi is like a "knife fight," where chaotic gas fee competition leads to value loss for protocols and network congestion. He proposed that OEV (Oracle Extractable Value) is the missing key process in DeFi that can transform noise into order.He showcased RedStone Atom, which executes liquidations in an orderly manner within 300 milliseconds through an off-chain FastLane auction layer and an on-chain relay. This solution returns the value previously captured by MEV bots back to the protocol itself. He revealed that during a 30-day proof of concept with the Venus protocol, the solution successfully captured $165,000 in liquidation value while achieving zero downtime.Finally, he emphasized that OEV is crucial for bringing real-world assets (RWA) and institutional capital into the ecosystem, as it adds an extra layer of security by providing fast and predictable liquidations, thereby reducing systemic risk and aligning with the risk-averse nature of large institutions.

ChainCatcher news, The Block co-founder and 6 MV founder Mike Dudas posted on X, stating that 6 MV has significantly increased its position in HYPE, and this weekend's events clearly indicate that the Hyperliquid ecosystem is ready to take off.

ChainCatcher News: U.S. Senator Mike Lee announced that he is drafting an amendment that would disqualify members of Congress from running for re-election if the deficit exceeds 3% of GDP. Elon Musk expressed his support for this earlier today.

ChainCatcher news, according to Cointelegraph, U.S. Congressman Mike Collins stated that his congressional campaign officially accepts cryptocurrency donations starting from March 5. Donations can be made using cryptocurrencies such as BTC, ETH, LTC, DOGE, SOL, and USDT.Collins stated in a statement: "Whether it's artificial intelligence, machine learning, or emerging assets like cryptocurrency, the U.S. has long been hindered by its reluctance to adapt to new technologies. I hope that by launching this platform, I can help eliminate societal biases against the crypto industry."

ChainCatcher news, according to Cointelegraph, in a financial disclosure report submitted to the U.S. House of Representatives on January 1, Congressman Mike Collins revealed that he purchased the token Ski Mask Dog (SKI), which is set to launch in May 2024, for an amount between $1,001 and $15,000.The report shows that between December 1 and December 3 (approximately one month after the U.S. elections), Mike Collins purchased the token three times, with each purchase amounting up to $15,000.It is currently unclear whether his investment is related to his electoral victory in Georgia's 10th congressional district, but during his tenure, he has disclosed purchases of Ether, Velodrome (VELO), Aerodrome Finance (AERO), and The Graph.

ChainCatcher news, according to Coindesk, on Friday afternoon local time, Trump-backed Republican Congressman Mike Johnson successfully secured enough votes to be re-elected as Speaker of the House.Johnson is considered a crypto-friendly individual, having previously voted in favor of the "21st Century Financial Innovation and Technology Act" (commonly known as FIT21) and the anti-Central Bank Digital Currency (CBDC) bill.Johnson's re-election and Emmer's continued role as Majority Whip mean that crypto-friendly members in Congress are likely to push for crypto legislation in 2025.

ChainCatcher news, The Block co-founder Mike Dudas announced on social platform X that he is stepping down as an advisor to Aptos, "Since my good friend Mo Shaikh co-founded this project, I have been an advisor to Aptos since 2022. This is the only crypto project I have advised. As of today, I will resign from my advisory role and request Aptos to transfer my advisory tokens to Coin Center.""My commitment as an advisor to Aptos predates my time as a full-time venture capitalist and postdates my time as the founder of The Block. I took this position to support a person and mission I deeply believe in. I have always valued and supported the idea that substance outweighs appearance. I will continue to uphold this."ChainCatcher previously reported, according to CoinDesk, Aptos Labs co-founder Mo Shaikh announced his resignation as CEO, with co-founder Avery Ching set to take over. Aptos is a Layer-1 blockchain focused on high scalability, security, and transaction speed, built on the Move programming language developed for Facebook's "Diem" project.In a lengthy post on social platform X, Shaikh reflected on Aptos's achievements over the past three years, including successfully raising $400 million in venture capital and building an ecosystem supported by thousands of developers. He thanked investors such as BlackRock, Google, Mastercard, and PayPal for their support and stated that he would continue to support the company's growth as a strategic advisor while reflecting on the future of blockchain and the financial system.

ChainCatcher News, the U.S. House of Representatives will address Congressman Mike Flood's recent statement: "Despite widespread opposition, SAB 121 continues to operate as a regulation, even though it has never gone through the normal Administrative Procedure Act process."Flood stated: "I look forward to working with the next SEC Chair to rescind SAB 121. Whether Chair Gary Gensler resigns on his own or President Trump fulfills his (promise to fire Gensler), the new administration has a tremendous opportunity to usher in a new era post-Gensler."He added: "Gensler's opposition to the bipartisan digital asset regulatory framework passed by the House earlier this year should come as no surprise. 71 Democrats joined House Republicans in passing this commonsense framework. Although the Democrat-led Senate refused to accept it, it represents a breakthrough moment for cryptocurrency and could inform the work of a unified Republican government when the next Congress begins in January."

ChainCatcher news, according to Fox News, on November 13 local time, U.S. House Speaker Mike Johnson, a Republican, was nominated by the Republican Party to continue serving as Speaker of the House in a vote that day. He will face a full House vote in January next year.

ChainCatcher news, Trump has ruled out the possibility of nominating Mike Pompeo (who served as Secretary of State during Trump's previous term) and Nikki Haley (former U.S. Ambassador to the United Nations) for his second cabinet.

ChainCatcher news, according to Bloomberg, BlackRock Inc. is re-hiring Mike Pyle, who was a senior aide to Harris and has also served as an executive at the firm.In a memo sent to employees on Monday, BlackRock stated that Pyle had previously been informally providing economic advice for Harris's presidential campaign. He will serve as a deputy head of a division with approximately $3.2 trillion in assets, advising investors on geopolitical and economic risks, which is part of BlackRock's overall business of $10.6 trillion.

ChainCatcher news, according to data from Quiver Quantitative, U.S. Congressman Mike Collins disclosed on June 17 that he purchased Velodrome (VELO) on May 17, with the purchase amount between $1,001 and $15,000.It is reported that Mike Collins has conducted multiple cryptocurrency transactions, and in January, Mike Collins disclosed that he purchased Ethereum worth no more than $65,000 in 2024.