Gate Daily: Bitcoin pulls back to 117,000; Trump media reserves $2 billion in BTC assets; SEC chairman clarifies that Ethereum is not a security.

Bitcoin (BTC) price has experienced a pullback again, reporting around 117,150 USD in the Asian early session today (22nd). Trump Media & Technology Group, under U.S. President Trump, holds a Bitcoin asset portfolio worth 2 billion USD, with Bitcoin assets currently accounting for two-thirds of the company's total liquid assets. The chairman of the U.S. Securities and Exchange Commission (SEC) informally stated that Ethereum (ETH) is not a security.

Today's Outlook:

1. Federal Reserve Chairman Powell delivered a welcome speech at a regulatory meeting.

2. The Reserve Bank of Australia released the minutes of the monetary policy meeting for July.

Macroeconomic Events & Crypto Circle Hotspots

1. The social media company "Trump Media & Technology Group" (stock code: DJT) under U.S. President Trump has disclosed that it has established a portfolio of Bitcoin and related assets valued at $2 billion. According to a report by CNBC, Trump has previously held skeptical views on digital currencies, but now vows to make the U.S. the "crypto capital of the world," including establishing a strategic reserve of Bitcoin, appointing a cryptocurrency czar, urging Congress to pass multiple cryptocurrency-related bills, and last week signed the "GENIUS Act," which will establish a regulatory framework for cryptocurrency "stablecoins" pegged to the U.S. dollar.

2. Paul Atkins, chairman of the U.S. Securities and Exchange Commission (SEC), stated in an interview with CNBC's Squawk Box that the agency "informally and not formally declares" that Ethereum (ETH) is not a security, but whether the token is used as a treasury reserve "is up to the company to decide." Atkins added that Ethereum is a key component of many other digital currencies and it is encouraging to see the market accept assets like ETH. He further noted, "I think this provides a good future for development."

3. The digital asset custodian BitGo has submitted documents for an initial public offering (IPO) in the United States, highlighting the continued march of the crypto industry towards mainstream financial markets. On Monday, BitGo announced that it has privately submitted an S-1 registration statement draft to the U.S. Securities and Exchange Commission (SEC) for a proposed Class A common stock IPO. At the time of submission, the number of shares to be issued or the price range had not yet been determined. According to Bloomberg, BitGo is one of the largest custodians in the cryptocurrency industry, with custodial assets exceeding $100 billion in the first half of 2025, up from $60 billion at the beginning of the year.

Market Trends

1. $BTC is once again experiencing a pullback, currently reported at around 117,150 USD, with a liquidation of 95.87 million USD in the past 24 hours, primarily in short positions;

2. The S&P 500 Index and the Nasdaq Composite Index reached new closing highs again on Monday. The S&P 500 Index rose by 8.81 points, or 0.1%, closing at 6,305.60 points, marking the tenth time this year it has set a new closing high. The Nasdaq Composite Index increased by 78.52 points, or 0.4%, closing at 20,974.18 points, which is the twelfth time this year it has rewritten its closing high. The Dow Jones Industrial Average slightly fell by 19.12 points, or 0.04%, closing at 44,323.07 points.

3. In the Gate BTC/USDT liquidation map, based on the current 117,438.40 USDT, if it drops to around 115,519 USD, the cumulative liquidation amount for long positions exceeds 280 million USD; if it rises to around 119,124 USD, the cumulative liquidation amount for short positions exceeds 215 million USD. The amount of liquidation for long positions is significantly higher than for short positions, so it's recommended to reasonably control the leverage ratio to avoid triggering large-scale liquidations during market fluctuations.

(Source: Gate)

4. In the past 24 hours, BTC spot inflow was 2.33 billion USD, outflow was 2.45 billion USD, with a net outflow of 120 million USD.

(Source: Coinglass)

5. In the past 24 hours, $ETH, $BTC, $DOGE, $XRP, and $1000PEPE contracts have experienced net outflows, indicating trading opportunities.

(Source: Coinglass)

News Updates

1. GameSquare has been approved to inject an additional $150 million into its crypto vault and increase its holdings of 8,351 ETH.

2. Strategy launched the fourth preferred stock product, Stretch, with the raised funds used to increase holdings in Bitcoin.

3. Reporter: The White House's first crypto policy report will be made public by the end of this month.

4. Tornado Cash co-founder Roman Storm's trial has changed, with the defense applying for a trial dismissal due to considerations of witness testimony.

5. The Ethereum investment company "Ether Machine" plans to raise $1.6 billion in its IPO.

6. Public company Mercurity Fintech has reached a $200 million SOL funding agreement with Solana Ventures.

7. Sources: Polymarket will invest $112 million to acquire the compliant exchange QCX.

8. Telegram Founder: The black market speculation on rare usernames, digital IDs, etc. has given rise to extortion risks.

9. Amber Group Accelerator Launches BUIDL_QUESTS 2025: Over $10 million in record funding incentives to drive AgentFi innovation.

10. The cryptocurrency custodian company BitGo has submitted its IPO application in the United States.

11. Trump Media Technology Group: Currently, the Bitcoin assets held account for two-thirds of the company's total liquid assets.

12. Trump Media Technology Group: The total amount of Bitcoin reserves purchased has reached 2 billion USD.

X KOL Selected Insights

Phyrex Ni (@Phyrex_Ni): "Yesterday I said it should be the last order of the weekend or maybe do one more, but I ended up placing an order at $117,711 right before going to sleep. In the early morning, there was a sudden spike, but unfortunately, I was asleep at that time; otherwise, I would have definitely taken the shot. When I woke up in the morning, the setup wasn't good enough, and $118,500 was just sleeping there. If I could have taken it, the setup still wasn't good when I woke up, and $118,500 was just sleeping there. I should have been more aware. There’s not much to say about Bitcoin's data; the data changes over the weekend were too minimal. Trading grids during such times could be a good option, but I prefer manual trading. I made five trades back and forth today; the best part of manual trading is that it trains your sensitivity to price. The turnover is very low, so it naturally has no impact on support. This weekend passed quite steadily, which is nice. Starting in August, we will enter the tariff game, and it might not be so easy then."