📰 Crypto Market Hotspot Dispatch
1. New Signals Emerge from U.S. Housing Finance Regulation
The director of the U.S. Federal Housing Administration (FHA) has instructed Fannie Mae and Freddie Mac to study incorporating cryptocurrencies into the scope of assets eligible for mortgage recognition. If implemented, compliant exchange-traded assets such as Bitcoin held by borrowers may, in the future, be directly used for mortgage qualification assessments without needing to be converted into cash first. This development suggests crypto assets are gradually being incorporated into more mainstream financial review frameworks, with market attention focused on how they may affect determinations of asset legitimacy and risk modeling.
2. Hong Kong Advances Tokenized Bonds and DLT Applications
The Hong Kong Monetary Authority (HKMA) and the Financial Services and Treasury Bureau have released the first-phase review results of DLT applications in the fixed-income market. They believe that the existing legal and regulatory environment already provides sufficient flexibility to support the issuance of tokenized bonds. The next step will be to conduct a legislative review, with emphasis on key concepts such as “possession” and “transfer” of tokenized fixed-income products, as well as electronic issuance documents. The move sends a positive signal that Hong Kong will continue to refine the foundational infrastructure for digital assets and push the tokenization of traditional bond markets onto the blockchain.
3. HashKey and DBS Upgrade Fiat Settlement Capabilities
HashKey Exchange announced that it has enabled settlement accounts opened with DBS Bank and launched fiat on/off-ramp and trading settlement services, while also integrating a corresponding virtual account function under the same name. This service can improve funds identification, automated reconciliation, and the efficiency of fiat deposits and withdrawals—especially suited for institutional clients with high-frequency, large-value, and complex reconciliation needs. This collaboration further deepens the connection between a licensed exchange and the traditional banking system, and also helps enhance funding transparency, separated management, and compliance-oriented risk controls.
4. Record-Low-But-Rising Game: BTC Long-Term Holders’ Supply Hits an All-Time High; Bottom Signals in Focus
On-chain analysis shows that the amount held by long-term Bitcoin holders is nearing 16.1 million BTC, reaching a historical high. This indicates that even during the current price pullback phase, the core cohort of holders continues to absorb supply. At the same time, the long-term holder MVRV has fallen to a level not seen in nearly three years, meaning profit margins have clearly narrowed. Market discussion about “approaching the cycle bottom” is gaining momentum. However, analysts believe that stronger confirmation still depends on whether MVRV continues to enter extremely low ranges and whether the price can hold above the cost basis level of long-term holders.
#BTC #香港Web3 #crypto
1. New Signals Emerge from U.S. Housing Finance Regulation
The director of the U.S. Federal Housing Administration (FHA) has instructed Fannie Mae and Freddie Mac to study incorporating cryptocurrencies into the scope of assets eligible for mortgage recognition. If implemented, compliant exchange-traded assets such as Bitcoin held by borrowers may, in the future, be directly used for mortgage qualification assessments without needing to be converted into cash first. This development suggests crypto assets are gradually being incorporated into more mainstream financial review frameworks, with market attention focused on how they may affect determinations of asset legitimacy and risk modeling.
2. Hong Kong Advances Tokenized Bonds and DLT Applications
The Hong Kong Monetary Authority (HKMA) and the Financial Services and Treasury Bureau have released the first-phase review results of DLT applications in the fixed-income market. They believe that the existing legal and regulatory environment already provides sufficient flexibility to support the issuance of tokenized bonds. The next step will be to conduct a legislative review, with emphasis on key concepts such as “possession” and “transfer” of tokenized fixed-income products, as well as electronic issuance documents. The move sends a positive signal that Hong Kong will continue to refine the foundational infrastructure for digital assets and push the tokenization of traditional bond markets onto the blockchain.
3. HashKey and DBS Upgrade Fiat Settlement Capabilities
HashKey Exchange announced that it has enabled settlement accounts opened with DBS Bank and launched fiat on/off-ramp and trading settlement services, while also integrating a corresponding virtual account function under the same name. This service can improve funds identification, automated reconciliation, and the efficiency of fiat deposits and withdrawals—especially suited for institutional clients with high-frequency, large-value, and complex reconciliation needs. This collaboration further deepens the connection between a licensed exchange and the traditional banking system, and also helps enhance funding transparency, separated management, and compliance-oriented risk controls.
4. Record-Low-But-Rising Game: BTC Long-Term Holders’ Supply Hits an All-Time High; Bottom Signals in Focus
On-chain analysis shows that the amount held by long-term Bitcoin holders is nearing 16.1 million BTC, reaching a historical high. This indicates that even during the current price pullback phase, the core cohort of holders continues to absorb supply. At the same time, the long-term holder MVRV has fallen to a level not seen in nearly three years, meaning profit margins have clearly narrowed. Market discussion about “approaching the cycle bottom” is gaining momentum. However, analysts believe that stronger confirmation still depends on whether MVRV continues to enter extremely low ranges and whether the price can hold above the cost basis level of long-term holders.
#BTC #香港Web3 #crypto