1. Market Observation
Keywords: ETH, ETF, BTC
El Salvador continues to accelerate its Bitcoin purchases through ambitious plans despite reaching an agreement with the International Monetary Fund. This news was published simultaneously with the proposed Bitcoin reserve bill, which, once enacted, could end the four-year boom-bust cycle of the cryptocurrency market.
Currently, the average profit for Bitcoin investors has reached $67,000. As the cryptocurrency market expands, experts predict that the crypto index will become a market barometer like the S&P 500 index. However, major cryptocurrencies like Bitcoin and Ethereum have faced significant pullbacks following the recent interest rate cuts by the Federal Reserve.
In this regard, veteran trader Peter Brandt is bullish on the Bitcoin-gold ratio, believing the current slump may be temporary, but analyst Justin Bennett warns that if bulls lose momentum, it could decline further.
At the policy level, Senator Cynthia Lummis plans to authorize the Federal Reserve to purchase and hold Bitcoin, Craig Wright, who claims to be the creator of Bitcoin, has been sentenced, and President Trump has promised to establish a national strategic Bitcoin reserve. The German Free Democratic Party is also pushing to integrate digital assets into the country's existing financial framework. Despite the current downward trend in the market, optimism remains in the industry regarding the maturity of the crypto market in the coming years as institutional investors plan to purchase an amount equivalent to 8 years of Bitcoin issuance in 2024.
2. Key Data (as of December 20, 9:25 AM HKT)
S&P 500: 5,867.08 points (up 23.00% year-to-date)
Nasdaq: 20,109.06 points (up 29.05% year-to-date)
10-year US Treasury yield: 4.559% (up 67.81 basis points year-to-date)
US Dollar Index: 106.593 (up 7.05% year-to-date)
Bitcoin: $96,983.10 (up 129.46% year-to-date), daily spot trading volume is $97.39 billion
Ethereum: $3,415.35 (up 49.70% year-to-date), daily spot trading volume is $59.25 billion
3. ETF Flows (December 19 EST)
Bitcoin ETF: -$647.89 million
Ethereum ETF: -$63.16 million
4. Important Dates (Hong Kong Time)
Retail sales month-on-month (December 17, 9:30 PM)
Actual: 0.7% / Previous value: 0.5% / Expected: 0.5%
Federal Reserve interest rate decision (December 19, 3:00 AM)
Actual: 4.5% / Previous value: 4.75% / Expected: 4.5%
GDP quarterly month-on-month final value (December 19, 9:30 PM)
Actual: 3.1% / Previous value: 3.00% / Expected: 2.80%
Core PCE price index month-on-month (December 20, 9:30 PM)
Actual: Pending announcement / Previous value: 0.3% / Expected: 0.2%
Personal income month-on-month (December 20, 9:30 PM)
Actual: Pending announcement / Previous value: 0.6% / Expected: 0.4%
Personal spending month-on-month (December 20, 9:30 PM)
Actual: Pending announcement / Previous value: 0.4% / Expected: 0.5%
5. Hot News
Metaplanet issues 5 billion yen in ordinary bonds to accelerate Bitcoin purchases
The Mt.Gox address has just transferred nearly 720 BTC, worth approximately $69.87 million
Data: The number of active cryptocurrency users in Hong Kong is currently estimated to be only about 100,000
El Salvador's wallet address increased its holdings by 11 bitcoins, worth $1.07 million
The US SEC approves Hashdex to launch a Nasdaq Bitcoin and Ethereum Crypto Index ETF
El Salvador officials: Will accelerate Bitcoin purchases as strategic reserves, the official Bitcoin wallet Chivo will be sold or discontinued
A trader who bought UFD for $700 is now worth over $12.56 million
The US public company reAlpha plans to use up to 25% of its surplus cash to purchase cryptocurrencies
Bitcoin mining company MARA has increased its holdings by 15,574 bitcoins in the past two months, worth approximately $1.53 billion
Bitcoin mining company Hut 8 increased its holdings by 990 BTC, bringing its total reserves to a value of $1 billion
Ceffu deposited 2,025 BTC with Binance, approximately $207 million
Fuel has opened airdrop claims and token staking
Binance Alpha has announced the third batch of projects
Bitwise CIO: This Bitcoin pullback is merely a brief fluctuation and has not changed the long-term bullish trend of the crypto market
Binance user survey: 23.89% of respondents believe AI tokens will dominate market growth in 2025, 16.1% hold meme coins
Kelp DAO has released the KERNEL token economics, with 55% allocated to community rewards and airdrops
El Salvador has reached a $1.4 billion loan agreement with the IMF, and Bitcoin payments will become voluntary
Powell: We are not allowed to hold Bitcoin, nor do we wish to change the law
The Trump family's crypto project WLFI announces it is seeking long-term cooperation with Ethena Labs
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