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💰 Bitcoin reclaims $102,000 as sell-side liquidity dries up
Bitcoin (BTC) reclaimed the $102,000 price level on Jan. 6 after climbing 4% over the day amid a wider market rally as accumulation continues to outpace profit-taking, based on CryptoSlate data. The flagship crypto was trading at $101,630 as of press time after failing to sustain upward momentum as US markets closed for the day. The recovery comes as sell-side liquidity continues to shrink, according to the latest Bitfinex Alpha report.
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💰 Bitcoin genesis block anniversary marks 16 years of financial revolution
The crypto world is celebrating 16 years since Bitcoin’s Genesis block was mined on Jan. 3, 2009. This landmark event not only marked the birth of the top digital asset but also laid the groundwork for today’s digital financial revolution.
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💰 CryptoQuant CEO questions if US will embrace Bitcoin amid dollar dominance concerns
CryptoQuant CEO Ki Young Ju questioned whether the US would need to adopt a Bitcoin standard unless global confidence in the dollar significantly erodes. His remarks come as conversations intensify about Bitcoin’s (BTC) role in the US financial system, drawing parallels to past debates over the gold standard.
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💰 Israeli securities authority sets Dec. 31 launch for six Bitcoin mutual funds: report
Six mutual funds that track the price of Bitcoin will debut in Israel on Tuesday, Dec. 31, according to a recent report from Israeli business news site Calcalist. The funds will debut simultaneously after winning approvals from the Israel Securities Authority last week, reportedly after at least two years of lobbying efforts and applications from Israeli financial institutions.
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💰 Mt. Gox has shifted $364 million in Bitcoin to B2C2 this month
Mt. Gox, the bankrupt crypto exchange, has moved approximately $364.4 million worth of Bitcoin to crypto liquidity provider B2C2 Group this month, according to an analysis by Lookonchain. Lookonchain, citing data from Arkham Intelligence, reported that Mt. Gox has been transferring 200 to 300 BTC daily to B2C2 on weekdays since Bitcoin surged past $100,000 on Dec. 5. These consistent transactions suggest a structured approach to liquidating assets.
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📣 Elon Musk’s SpaceX uses stablecoins to hedge against foreign exchange risks
SpaceX uses stablecoins to dodge foreign exchange risks, Silicon Valley venture capitalist Chamath Palihapitiya said in the All-In podcast on Friday. Foreign exchange risk refers to the risk of losses that could arise from drastic fluctuations in a currency. For example, if a U.S. company has customers in Brazil that pay in Real (BRL), the company could stand to lose money when converting to U.S. dollars.
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🪙 Ethereum ETFs surge in December as inflows hit $1.66 billion, dominated by BlackRock's ETHA
Ethereum ETF inflows have accelerated significantly in December, with providers recording $1.66 billion in new investments, representing 74% of the $2.24 billion total inflows since inception. BlackRock's iShares Ethereum Trust (ticker ETHA) leads the pack, with inflows reaching a single-day high of $292 million on Dec. 5. This highlights the asset manager's continued influence in the crypto ETF space.
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📣 Bloomberg analysts expects ‘wave of crypto ETFs’ next year but some hurdles remain
A “new wave” of crypto exchange-traded funds (ETFs) is expected in 2025 as the regulatory landscape improves under the incoming Trump administration, according to Bloomberg Intelligence analysts. Bitcoin-Ethereum (ETH) combination products will likely lead the charge, followed by Litecoin (LTC) and Hedera Hashgraph (HBAR). However, legal and regulatory hurdles are expected to delay ETFs tied to Solana (SOL) and XRP, leaving their future uncertain.
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💰 Japanese lawmaker urges consideration of Bitcoin reserve in light of US efforts
Japanese lawmaker Satoshi Hamada has called on the government to explore the possibility of integrating Bitcoin (BTC) into its foreign exchange reserves, emphasizing its potential as a strategic asset amid growing global interest in crypto adoption. During a Dec. 11 parliamentary session, Yamada posed questions about Japan’s approach to crypto reserves.
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💰 Bitcoin recovers $100k price level as expectations of Fed rate cut rise
Bitcoin (BTC) briefly surpassed the $101,000 threshold after a 3% surge in the hours following November’s Consumer Price Index (CPI) numbers, which came within the 2.7% expectations. The rally has fueled investor confidence, with a 98% probability now assigned to a 25 basis point rate cut by the Federal Reserve next week, potentially bringing the US benchmark interest rate to 4.33%.
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🇺🇸 Crypto industry frustrated over possibility of SEC commissioner Caroline Crenshaw’s renomination
On Dec 11, the U.S. Senate Banking Committee will decide whether to renominate Caroline Crenshaw, a Democrat Securities and Exchange Commission (SEC) commissioner. Crenshaw has always been a staunch critic of cryptocurrencies and the crypto community is not happy with the prospect of her re-election.
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💰 Bitcoin flash crashes to $90,200 causing over $885 million in liquidations
Bitcoin’s (BTC) historic rally above $100,000 hit a roadblock on Dec. 5 as the flagship crypto fell back into five-figure territory, leaving a trail of liquidations across the market. BTC gave up almost all of the 24-hour gains that took it to a new all-time high of $103,679. It fell to a low of roughly $90,300 for the day before attempting a recovery. Bitcoin was trading at $95,500 as of press time amid heavy volatility, based on CryptoSlate data.
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💰 Fed chair Powell views Bitcoin as digital gold, not a dollar competitor
The Federal Reserve Chairman Jerome Powell dismissed the notion of Bitcoin as a replacement for the U.S. dollar, instead framing the leading crypto as a speculative asset comparable to gold. Powell shared his insights during an appearance at The New York Times DealBook Summit in Manhattan, emphasizing Bitcoin’s volatility and limited use as a form of payment or store of value.
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💰 MicroStrategy’s Bitcoin treasury swells to 386,700 BTC en route to 4% of total supply
MicroStrategy has purchased a staggering 135,000 Bitcoin (BTC) in three transactions. These acquisitions amount to 35% of the company’s total BTC holdings and underline its ongoing commitment to Bitcoin as a core asset. On Nov. 25, the company disclosed its largest Bitcoin acquisition, buying 55,500 BTC for $5.4 billion. This purchase—detailed in a filing with the US Securities and Exchange Commission (SEC)— equates to an average price of $97,862 per Bitcoin.
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💰 Institutions using Bitcoin to support pension funds, adding BTC to loans
Newmarket Capital has completed a loan that combines traditional real estate financing with Bitcoin collateral, introducing a novel approach to lending reported on CNBC’s “Squawk Box” on Nov. 22. The loan refinances a 63-unit multifamily property in Philadelphia and incorporates 20 Bitcoin into the collateral package.
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💰 Coinbase shares unredacted FDIC letters urging banks to avoid offering basic Bitcoin services
Coinbase chief legal officer Paul Grewal shared documents revealing that the Federal Deposit Insurance Corporation (FDIC) urged banks to halt or avoid not only crypto-related services but also simple Bitcoin (BTC) offerings. The letters are unredacted versions of documents shared by Grewal on Dec. 6, 2024. They were dubbed “pause letters” because they repeatedly recommend suspending or refraining from using crypto services.
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💰 Swiss chancellery approves proposal to include Bitcoin in national reserves
Switzerland’s Federal Chancellery has approved the formal submission of the “Bitcoin Initiative,” a proposed constitutional amendment that would require the Swiss National Bank to hold part of its reserves in Bitcoin (BTC). The measure now moves closer to a nationwide referendum and comes amid growing interest in sovereign adoption of the flagship asset.
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💰 Cryptoquant CEO: US Strategic Bitcoin Reserve Adoption Unlikely Amid Economic Strength
Ki Young Ju, CEO of Cryptoquant, took to social media to voice his support for a “Bitcoin Standard” but raised doubts about the likelihood of the U.S. adopting bitcoin as a strategic asset. He pointed to the nation’s ongoing economic stability and the global preference for the dollar as key factors in his reservations.
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💰 Bitcoin ETFs saw $338 million in outflows on Christmas Eve
US Bitcoin spot exchange-traded funds (ETFs) have faced four consecutive days of withdrawals, ending with notable outflows on Christmas Eve. BlackRock’s iShares Bitcoin ETF led this decline, suffering its largest single-day outflow of $188.7 million. Fidelity’s Bitcoin ETF followed with $83 million in withdrawals, while Ark and 21Shares’ Bitcoin ETF posted net outflows of $75 million.
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💰 Metaplanet adds another 619 BTC to its holdings
Japanese Bitcoin-focused firm Metaplanet has significantly increased its crypto portfolio following its recent US market expansion. On Dec. 23, the company, listed on the Tokyo Stock Exchange and trading on the US OTCQX Market as MTPLF, said it acquired 619.70 BTC for 9.5 billion yen ($60.7 million). This purchase increases its total Bitcoin holdings to 1,761.98 BTC, currently valued at $169.2 million.
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💰 Marathon Digital warms 80,000 Finnish homes with heat generated from Bitcoin mining
Marathon Digital Holdings is redefining the narrative around Bitcoin mining by repurposing its excess heat to benefit communities in Finland. In a Dec. 20 statement on X, the company said it provides heating for approximately 80,000 residents through a forward-thinking approach that merges innovation and environmental responsibility.
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💰 Bitwise CIO downplays price ‘hiccup’ amid Bitcoin bull trend after FOMC shakes markets
Bitcoin’s price experienced a sharp pullback following the US Federal Reserve’s recent rate cut, but market experts like Bitwise CIO Matt Hougan remain optimistic about the asset’s long-term trajectory. On Dec. 18, the Federal Reserve announced a 25-basis-point rate cut, scaling back its outlook for 2024 to two cuts instead of the previously expected four.
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💰 New fair value Bitcoin accounting rules go live paving way for corporate reserve adoption
The Financial Accounting Standards Board (FASB) has implemented its Fair Value accounting rule for crypto, effective Dec. 15, 2024. This update aims to address accounting and disclosure practices gaps for cryptocurrencies while enhancing transparency in financial reporting.
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💰 Alabama state auditor calls to establish Bitcoin reserve
State Auditor Andrew Sorrell has proposed that Alabama create a strategic Bitcoin (BTC) reserve to ensure its continued leadership in crypto adoption. He argued that such a move would diversify the state’s assets, attract crypto-focused businesses, and establish Alabama as a pioneer in the digital asset space.
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🪙 Ethereum community debates raising gas limits amid stability and security concerns
Toni Wahrstätter, a researcher at the Ethereum Foundation, has called for patience in addressing Ethereum’s block gas limit expansion, citing technical challenges in a Dec. 9 post. The discussion comes as the Ethereum community debates raising the gas limit, a change that could enhance network capacity but also pose risks to stability and security.
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🇦🇺 Australia intensifies crypto ATM oversight to curb money laundering risks
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has intensified efforts to enforce Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) regulations among crypto ATM providers. Despite the country having around 400 registered crypto exchanges, only a small portion operate crypto ATMs. This gap leaves a significant share of Australia’s 1,200 crypto ATMs potentially non-compliant.
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💰 Public Bitcoin miners underperform BTC and other proxies year-to-date
Bitcoin mining stock CleanSpark (CLSK) has gained 18% year-to-date, falling short of Bitcoin’s 121% rise over the same period. Analyst Caleb Franzen of Cubic Analytics highlights this discrepancy, questioning the effectiveness of investing in mining stocks for higher exposure to Bitcoin’s performance.
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💰 Cboe unveils cash-settled spot Bitcoin options tied to ETF index
Cboe Global Markets is set to launch the first cash-settled options tied to the price of spot Bitcoin (BTC), with trading set to begin on Dec. 2, according to a Nov. 22 press release. The landmark product aims to provide investors with exposure to spot Bitcoin price movements without directly holding the crypto. The launch comes days after US regulators gave Bitcoin options the final greenlight earlier this month.
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💰 Bitcoin dominance hits 57% as its price rises past the $90,000 level
Bitcoin's market dominance has reached a year-to-date high of 57%, reflecting bitcoin's growing share of the total cryptocurrency market capitalization. Bitcoin recently set a new all-time high above $90,000, contributing to the broader crypto market cap reaching $3 trillion. This level of dominance marks a significant shift from the previous cycle's low of 39% during the DeFi boom in May 2021.
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