Crypto Daily Brief | Central Bank: Supports provinces, regions, and cities along the Western Land-Sea New Passage to participate in the Multilateral Central Bank Digital Currency Bridge project

Today’s Market

BTC price $87,255.56, down 0.50% in 24 hours;

ETH price $2,905.07, down 1.46% in 24 hours;

BNB price $829.8, down 2.03% in 24 hours;

XRP price $1.8341, down 1.54% in 24 hours;

S0L price $120.17, down 2.08% in 24 hours;

TRX price $0.2744, down 0.52% in 24 hours;

D0GE price $0.12367, down 3.90% in 24 hours;

ADA price $0.3436, down 3.69% in 24 hours.

News & Updates

Caixin: Domestic issuance and use of U cards face additional legal risks

Caixin published an article titled “The Secret and Deadly Risks of the U Card Popularity on Xiaohongshu,” which states that users can use bank cards with Visa logos for payments such as ChatGPT Plus subscriptions, with charges deducted via USDT in cryptocurrency wallets. These overseas bank cards, commonly known as “U cards,” are a type of foreign bank card that uses USD stablecoins for payments. The article also points out that issuing and using U cards within China carries additional legal risks. Whether they are fleeting transitional products or hold the key to future payment patterns remains uncertain.

Ctrip Overseas Version Trip.com Now Supports USDT and USDC for Hotel and Flight Bookings

Ctrip’s overseas version, Trip.com, now supports stablecoin payments, allowing users to book hotels and flights using USDT and USDC. This payment feature is provided by Singapore-licensed crypto payment provider Triple-A, supporting multiple blockchains including Ethereum, Tron, Polygon, Solana, Arbitrum One, and TON. When booking hotels with USDT, users only need to provide their name and email to complete the order, without detailed personal information; however, for flight bookings, passport and other information must be provided in accordance with airline regulations.

Central Bank: Supports Western Land-Sea New Corridor Provinces and Cities to Participate in Multilateral CBDC Bridge Projects

According to Jinshi, the People’s Bank of China held a press conference to interpret the “Opinions on Financial Support for Accelerating the Construction of the Western Land-Sea New Corridor.” Wang Xin, Director of the Research Bureau of the PBOC, stated that the “Opinions” grasp new trends in digital finance, green finance, and international cooperation, and innovate to promote high-level financial openness in central and western regions. For example, supporting provinces and cities along the corridor to participate in multilateral CBDC bridge projects to promote cross-border payments using central bank digital currencies; and strengthening cooperation through the China-Singapore Green Finance Working Group mechanism in areas such as green finance standards, green financial products, and financial support for green technology.

Bank of Korea: Will Evaluate Future Data to Decide on Rate Cuts

According to Jinshi, the Bank of Korea stated that it will decide whether and when to further cut interest rates next year based on a comprehensive assessment of future data. The bank noted that, given the high caution in domestic and foreign exchange markets, it will strengthen market monitoring and actively implement stabilization measures. Last month, the Bank of Korea maintained interest rates for the fourth consecutive policy meeting and hinted that the current rate-cutting cycle may be nearing its end, as a weakening exchange rate has reduced the space for further easing. The next meeting will be held in January next year.

Cryptocurrency

Analyst: BTC May Bottom Out and Drop to $37,500 in October 2026

Crypto analyst Ali Charts states that Bitcoin (BTC) price cycles show significant patterns in timing and magnitude. Historical data indicates that it takes about 1064 days for Bitcoin to go from market bottom to top, and about 364 days to fall from top to the next bottom. Specifically: Cycle 1: Bottom in January 2015, top in December 2017, lasting 1064 days; then a bear market lasting 364 days, bottoming in December 2018. Cycle 2: Bottom in December 2018, top in November 2021, lasting 1064 days; bottom in November 2022 at around $15,500. Cycle 3 (current): Bottom in November 2022, top expected in October 2025, at around $126,200, fitting the 1064-day pattern. If historical patterns continue, the next bottom may occur in October 2026, with an estimated price of about $37,500, corresponding to an 80% retracement of the previous high.

Japanese Clothing Company ANAP Increases Bitcoin Holdings by 127.73 BTC

According to a tweet from BitcoinTreasuries, Japanese listed company ANAP Holdings has increased its Bitcoin holdings by 127.73 BTC, bringing its total to 1,346.58 BTC, ranking 45th among global corporate Bitcoin holdings.

Polymarket Prediction: Probability of Bitcoin Falling Below $80,000 in December Drops to 9%

Polymarket currently estimates the probability of Bitcoin falling below $80,000 in December at 9%, with the probability of falling below $75,000 at 3%. Additionally, the probability of breaking above $95,000 is estimated at 10%.