1. Market Observation
Keywords: ETH, ENS, BTC
The Bitcoin market has shown strong growth recently, with Bitcoin ETFs' assets under management exceeding gold funds for the first time on December 16, reaching a record $129 billion. In terms of price, Bitcoin hit a historic high of $108,000 and has maintained upward momentum above $100,000, rising 6.44% in the past five days. Based on this momentum, analysts predict the price could climb to $200,000 in the coming months.
Looking ahead to 2024, the Bitcoin halving event will become an important factor influencing the market landscape. According to Coin Metrics' 'Network Status' report, this halving will reduce the block reward from 6.25 BTC to 3.125 BTC, which may lead to a significant decline in miner revenue. At the same time, Ethereum's development is also receiving attention, as ENS Labs has chosen Consensys' Linea technology for its upcoming Layer-2 network project. Bitwise investment strategist Juan Leon noted in a blog post on December 17 that with institutional interest surging, Ethereum is expected to see significant growth by 2025, with the potential to tap into a $100 trillion real-world asset market.
On the policy level, cryptocurrencies have received support from multiple parties. The Satoshi Action Fund has released a draft of a potential executive order aimed at establishing a US Bitcoin strategic reserve, supported by Wyoming Senator Cynthia Lummis. In Europe, French Member of the European Parliament Sarah Knafo has called for the EU to implement a strategic Bitcoin reserve instead of a central bank digital currency, a proposal that has received a positive response from El Salvador President Nayib Bukele.
In terms of market behavior, Bitcoin 'whales' have made large-scale acquisitions totaling $7 billion within 48 hours. Despite the price reaching historic highs, options data shows that traders remain cautious while chasing these trends.
2. Key Data (as of December 18, 9:25 AM HKT)
S&P 500: 6,050.61 points (up 26.85% year-to-date)
Nasdaq: 20,109.06 points (up 33.96% year-to-date)
10-year US Treasury yield: 4.392% (up 54.37 basis points year-to-date)
US Dollar Index: 106.593 (up 5.54% year-to-date)
Bitcoin: $106,394.04 (up 151.73% year-to-date), daily spot trading volume of $67.13 billion
Ethereum: $3,894.27 (up 75.41% year-to-date), daily spot trading volume of $34.59 billion
3. ETF Flows (December 17 EST)
Bitcoin ETF: -$119.29 million
Ethereum ETF: +$5.95 million
4. Important Dates (Hong Kong Time)
Retail sales month-on-month (December 17, 9:30 PM)
Actual: 0.7% / Previous: 0.5% / Expected: 0.5%
Federal Reserve interest rate decision (December 19, 3:00 AM)
Actual: Pending release / Previous: 4.75% / Expected: 4.5%
GDP quarter-on-quarter final value (December 19, 9:30 PM)
Actual: Pending release / Previous: 3.00% / Expected: 2.80%
Core PCE price index month-on-month (December 20, 9:30 PM)
Actual: Pending release / Previous: 0.3% / Expected: 0.2%
Personal income month-on-month (December 20, 9:30 PM)
Actual: Pending release / Previous: 0.6% / Expected: 0.4%
Personal spending month-on-month (December 20, 9:30 PM)
Actual: Pending release / Previous: 0.4% / Expected: 0.5%
5. Hot News
sBTC has launched on the Stacks mainnet, offering a 5% annualized reward
Big Time Studios announces the establishment of a $150 million Open Loot fund
33.1% of PENGU airdrop has been claimed, with an average of about 20,800 PENGU per wallet
Ohio state lawmaker proposes to establish a Bitcoin reserve fund in the state treasury
The official X account of the Solana-based Meme project Retardio has been suspended
Fuel launches FUEL genesis airdrop: eligibility query page is now online, claims will open on December 19
ENS Labs chooses Linea technology to build its L2 network Namechain
Tether announces investment in European stablecoin provider StablR
Physicist: Quantum computers are five years away from breaking Bitcoin
Pendle team associated wallet sends over 560,000 PENDLE to Binance, worth $3.47 million
Binance wallet launches Binance Alpha to enhance pre-listing transparency and focus on potential projects
European parliamentarians call for Bitcoin to be treated as a strategic reserve asset
OKX pre-market trading Hyperliquid (HYPE) briefly breaks $30
Nirvana Finance V2 will launch on December 18, completing compensation and introducing new mechanisms
Kontos announces KOS tokenomics: 5% for airdrop
Metaplanet announces issuance of 4.5 billion yen in ordinary bonds, funds will be used to accelerate Bitcoin purchases
Trump plans to use the $200 billion foreign exchange stabilization fund from the US Treasury to establish a Bitcoin reserve
Grayscale Horizen Trust is now open to qualified accredited investors
FTX announcement: Court-approved Chapter 11 restructuring plan will take effect on January 3, 2025
Supported by OSL - Hong Kong's largest OTC trading platform, continuously providing regulated digital asset services to the market since 2018.
