Daily Market Insight - Mar 11

The regulatory landscape remains a key focus for the industry. In Australia, ASIC's fintech chief stated that crypto shouldn't be treated as a separate asset class since it performs the same fundamental financial functions—just on different network infrastructure. Meanwhile, in the US, Senator Angela Alsobrooks noted that advancing the crypto market structure bill will require both crypto and banking lobbyists to compromise, potentially making both sides "a little bit unhappy." Despite the geopolitical uncertainty and complex legislative negotiations, Bitcoin market sentiment has rapidly swung back into "FOMO territory" on social media as prices reclaimed $70,000, signaling continued strength. Looking ahead, **Bitwise's CIO** presented a bullish long-term framework, suggesting that Bitcoin could reasonably reach the$1M per coin milestone over the next decade if it captures just 17% of gold's growing store-of-value market. However, not all heavyweights are eager to buy at these levels; Arthur Hayes recently argued that he wouldn’t invest even $1 into Bitcoin right now, preferring to hold off until the Federal Reserve definitively shifts toward monetary easing and begins printing money again under pressure from rising US deficit needs and geopolitical conflicts.