Tom Lee: Rising ETH/BTC exchange rate indicates investors expect improved visibility of crypto use cases.

According to market data from BIT (bit.com), crypto-related stocks in the US equities market rose broadly during intraday trading. BitMine (BMNR) gained 8.25%, Circle (CRCL) rose 7.18%, MARA increased 6.21%, Sharplink (SBET) climbed 5.93%, Robinhood (HOOD) advanced 4.48%, and Bullish (BLSH) was up 2.76%.

According to HTX market data, Bitcoin has broken through $63,000, posting a 1.13% gain in the last 24 hours.

According to data from Coinglass, total liquidations across the crypto network hit $221 million over the past four hours, including $124 million in long position liquidations and $97.34 million in short position liquidations.

Federal Reserve Governor Waller said that monetary policy formulation should not mechanically apply historical experience, but rather assess policy effects based on the current economy’s "initial conditions." When discussing forward guidance, Waller noted that it remains a valuable tool capable of influencing markets in advance and accelerating policy transmission. For example, after the FOMC signaled in September 2021 that it would tighten policy in the future, even though actual interest rate hikes did not begin until March 2022, the two-year U.S. Treasury yield had already risen by nearly 200 basis points cumulatively by then, with the market completing part of the policy transmission in advance. However, Waller also pointed out that when forward guidance is too forceful or rigid, it may instead undermine policy flexibility and delay policy adjustments. He mentioned that the FOMC’s September 2020 conditions for exiting the effective lower bound on interest rates were not adjusted even after inflation surged well above 2% and the unemployment rate fell rapidly in 2021, unnecessarily delaying the timing of interest rate hikes. Waller stated that forward guidance can help accelerate monetary policy transmission, but if it lacks flexibility, it may also hinder policy transmission; in some cases, the best option is to not use forward guidance at all.

Last week, Strategy sold 3,588 BTC at an average price of $60,197, generating proceeds of roughly $216 million. The company’s average cost basis for Bitcoin purchases is nearly $75,651, meaning this sale incurred an approximate $55 million realized loss.

According to monitoring by Onchain Lens, BlackRock has just purchased and withdrawn 7,546 ETH from Coinbase Prime, valued at approximately $13.2 million.