1. Market Observation
Keywords: ETH, ETF, BTC
Bitcoin climbed to $99,500 before continuing to retreat, currently falling below $94,500, while the market faces challenges, with nearly $300 million of outflows from the US Bitcoin ETF.
The attitudes of institutions also show polarization. While some companies continue to build Bitcoin reserves, tech giants like Microsoft hold opposing views. Notably, Nexo and 7RCC Global have taken a different approach by launching an ESG-oriented Bitcoin ETF. In the face of market volatility, Pomp Investments founder Anthony Pompliano remains optimistic, expecting Bitcoin to perform strongly in 2025.
The Ethereum market also shows signs of recovery, with buying momentum gradually increasing. Although prices still face significant downward pressure, institutional interest, especially from large investors, is rising. During this period, the entire cryptocurrency industry continues to develop rapidly, with Bitcoin maintaining its dominant position in the market. However, Bitcoin has failed to hold above the $100,000 mark, raising concerns about a possible pullback.
At the same time, investment enthusiasm in the crypto sector remains high. Halliburton is investing in Bitcoin mining through its subsidiary 360 Energy in Austin, and Chinese car dealer Cango plans to expand its crypto business. Bitcoin investments in the UAE have also hit a historic high of $40 billion. As recognized by author Robert Kiyosaki, despite the arrival of the digital age, traditional financial institutions still face many challenges.
Overall, the market performance of Bitcoin and Ethereum reflects the contradictory emotions of investors, with both expectations for new highs and concerns about the risk of a pullback.
2. Key Data (as of December 23, 10:25 HKT)
S&P 500: 5,930.85 points (up 20.74% year-to-date)
NASDAQ: 19,572.60 points (up 30.55% year-to-date)
10-year US Treasury yield: 4.532% (up 64 basis points year-to-date)
US Dollar Index: 107.73 (up 6.26% year-to-date)
Bitcoin: $95,487.38 (up 119.0% year-to-date), daily spot trading volume is $43.499 billion.
Ethereum: $3,330.05 (up 45.70% year-to-date), daily spot trading volume is $22.795 billion.
3. ETF Flows (December 20 EST)
Bitcoin ETF: -$277 million
Ethereum ETF: -$75.1159 million
4. Important Dates
The Christmas holiday is approaching, and starting from Tuesday (the 24th), the Hong Kong stock market and financial markets in several European countries will be closed for two and a half days, while the US stock market will be closed for one and a half days.
5. Hot News
Weekly Preview | MicroStrategy officially joins the Nasdaq 100 index; Ethena (ENA) and Cardano (ADA) will unlock tokens worth tens of millions.
Japanese listed company Metaplanet increased its holdings by 619.7 Bitcoins.
A suspected address of Justin Sun redeemed 39,999 ETH from Lido and Etherfi and deposited it into HTX in the past week.
Pump.fun co-founder denies rumors of a Christmas airdrop.
Trump nominates departing a16z partner Krishnan as senior policy advisor for AI at the White House Office of Science and Technology Policy.
Bezos clarifies $600 million wedding rumor, MicroStrategy founder seizes the opportunity to recommend Bitcoin investment.
Arthur Hayes deposits 2 million ENA into Bybit, worth $2.06 million.
Securitize proposes to add BlackRock's BUIDL token as collateral for the stablecoin Frax USD.
Data: Tokens like MRS, ADA, ENA, etc. will see significant unlocks next week, with MRS unlocking approximately $34.7 million.
Wormhole DAO will launch in the first quarter of next year.
Currently, at least 10 companies are considering adopting MicroStrategy's Bitcoin strategy.
Decentralized liquidity protocol THORChain releases V3 version.
Vitalik: Advocates for building intelligent enhancement tools for humanity, rather than creating superintelligent life.
Analysis: The community is focused on Bitcoin, which may show a 'God candle' trend around Trump's inauguration day.
This week's macro outlook: The Christmas season may be fraught with crises, beware of liquidity shortages amplifying market volatility.
Yuga Labs co-founder: Has sold some Fartcoin, but remains one of the top ten holders.
The Uniswap L2 network Unichain mainnet will launch in early next year.
The blind computing network Nillion mainnet will launch in February 2025.
Tether CEO: Tether's AI platform website is expected to launch by the end of the first quarter of 2025.
IOST releases new token economics: 97% of newly issued tokens will be used for the community.
MANTRA's new proposal suggests updating the OM token economics, including reducing the on-chain inflation rate to 3%.
Among the top 500 cryptocurrencies by market cap, 10 tokens have seen a decline of over 50% in 30 days, 8 of which are Meme coins.
Supported by OSL - Hong Kong's largest OTC trading platform, continuously providing regulated digital asset services to the market since 2018.
