Bitcoin Price Peak Predictions Questioned by Analyst
Bitcoin analyst PlanC challenged recent forecasts that Bitcoin will reach its cycle-high price by the end of 2024. In a statement on X, PlanC argued that relying on historical halving cycles to predict a year-end peak misunderstands statistical probability. He compared such predictions to expecting a fourth consecutive coin flip to land tails, highlighting the limited data points and inherent randomness in Bitcoin’s price cycles.
US Regulators Consider 24/7 Capital Markets and Crypto Derivatives Rules
The US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) issued a joint statement exploring the possibility of extending capital markets to operate 24/7. The regulators identified continuous trading as essential for scaling on-chain finance across asset classes, emphasizing the need for regulatory clarity on crypto derivatives, including event contracts and perpetual futures.
They noted that expanding trading hours could better align US markets with the reality of a global, always-on economy. However, the agencies cautioned that such a shift may not suit all asset classes equally and recognized the increased risks for traders holding positions overnight or long-term against participants in different time zones.
Sora Ventures Launches $1 Billion Bitcoin Treasury Fund in Asia
During Taipei Blockchain Week, crypto venture capital firm Sora Ventures unveiled a $1 billion Bitcoin treasury fund aimed at institutional adoption and integration of Bitcoin into traditional finance in Asia. Founder Jason Fang described it as Asia’s first fund of this scale dedicated to Bitcoin treasury management.
The fund targets corporate treasury diversification by acquiring Bitcoin over the next six months, supported initially by $200 million from institutional partners across the region. This initiative intends to promote Bitcoin as a strategic asset for regional institutions, bridging digital assets with mainstream financial markets.
FinOracleAI — Market View
The joint regulatory push toward 24/7 trading and clearer crypto derivatives rules signals increasing acceptance of digital assets within mainstream financial frameworks, which could enhance liquidity and market efficiency. However, the associated risks of continuous markets, such as heightened overnight exposure, warrant cautious implementation. Meanwhile, Sora Ventures’ $1 billion Bitcoin treasury fund underlines growing institutional appetite in Asia, potentially driving demand and price support for Bitcoin.
Impact: Positive
