Crypto Morning Brief * Must-Read Daily Information * May 12, 2025 1. The US and UK have reached a trade negotiation, establishing an overall framework, but specific details will take time to implement. For the capital markets, this is a positive start. 2. Russia and Ukraine have been loudly discussing negotiations these days. It's still unclear what changes might occur in the future, but for the capital markets, this is also a positive start. 3. The two-day talks between China and the US have also concluded. According to the US response, there has been some substantial progress. Regardless of how long future negotiations will take, this is also a major positive for the capital markets. 4. The crypto market showed a bull market trend over the weekend, especially the #MEME trend, led by #Moodeng and #PNUT. Animal-themed memes have been surging, with hippos up 14x from the bottom and squirrels up 4x from the bottom. 5. The transaction volume on the SOL chain continues to expand, with Trump at $140 million, Fartcoin at $130 million, Popcat at $80 million, Moodeng at $35 million, and Pnut at $27 million. 6. #ETH has skyrocketed, rising 40% in 3 days, and even made it to the TikTok trending list, but was quickly removed. Under ETH's influence, the ecosystem has fully revived, but it's still not leading; the meme sector is still leading the surge. 7. #Mirai ended its fundraising early, with the address holding 76,831 SOL. It's estimated that the token will be issued this week, and we'll see how many times it can multiply. 8. Regarding #Trump's dinner plans, there's a snapshot today. After the snapshot, there's an expectation of a sell-off, but the team will find ways to keep the retail investors buying. In short, the Trump coin team knows how to play the game. 9. Cathie Wood continues to advocate, saying: Bitcoin is bullish to $1.5 million, and AI is changing the rules of the investment game. 10. Last week, the US Bitcoin spot ETF saw a net inflow of $920.9 million, with BlackRock and Fidelity alone bringing in $1.1 billion. Others have maintained their positions, but the scale is not large. [Market Analysis] The investment structure of Bitcoin has fundamentally changed. If it was previously composed of OGs and retail investors, it is no longer the case. It has now completely become a market dominated by institutions and consortia, who are the main drivers of Bitcoin's trend. With no US stock market over the weekend, Bitcoin is consolidating at a high level. Currently, there is no signal indicating a potential decline. As we mentioned last week, the market has shifted from a rebound to a reversal, and the low point near $70,000 in April should be the lowest position of the year. According to the current pace, Bitcoin will continue to rise, likely reaching an all-time high (ATH) this week, and then reaching a high of around $150,000 to $200,000 in the second half of the year. In terms of altcoins, the current focus is on memes. The market has arrived, but interest is not high, indicating it hasn't peaked yet. When everyone starts FOMOing, the market will likely come to an end. If you don't want to chase high memes, you can at least position yourself in some leading altcoins that haven't risen yet. 10. Last week, the US Bitcoin spot ETF saw a net inflow of $920.9 million, with BlackRock and Fidelity alone bringing in $1.1 billion. Others have maintained their positions, but the scale is not large.