Article reprinted from: Trading Moments.
1. Market Observation.
Keywords: BTC, ETF, ETH.
Bitcoin, as the world's most important cryptocurrency, has strongly rebounded to over $101,000 following a pullback earlier this week. This rebound not only boosted market sentiment but also led to significant recoveries in various altcoins. Meanwhile, this surge coincides with a slight rise in the inflation rate of 2.7% in November, further propelling cryptocurrencies past significant thresholds.
Institutional support for Bitcoin continues to grow. Massachusetts Mutual Life Insurance Company has increased its cryptocurrency investment from $100 million to $500 million, and Bitcoin ETFs are also showing strong resilience, with an average daily inflow of $439 million. Goldman Sachs CEO stated that they will consider investing in Bitcoin as long as the regulatory environment is clear. Alabama State Auditor Andrew Sorrell further advocates for the establishment of a strategic Bitcoin reserve, pointing out that Bitcoin's price has risen over 50% since the US elections, highlighting the federal government's supportive attitude towards cryptocurrencies.
Industry experts generally hold an optimistic view on Bitcoin's future. MicroStrategy's Michael Saylor believes Bitcoin's innovative design creates a win-win situation for all participants. Bitwise's Hougan and Rasmussen predict that Bitcoin's price will reach or exceed $200,000 by 2025, and they also expect 2025 to be the year of cryptocurrency IPOs. Interactive Brokers founder Thomas Peterffy and Messari founder Ryan Selkis also have a positive outlook on Bitcoin's development prospects.
However, renowned trader Peter Brandt also warns investors to be cautious of potential risks, particularly challenges posed by central bank interventions and advancements in quantum computing technology. Nevertheless, market sentiment remains bullish overall, indicating that Bitcoin's position as a high-performance asset remains solid.
2. Key Data (as of December 13, 09:20 HKT).
S&P 500: 6,051.25 points (up 26.87% year-to-date).
Nasdaq: 19,902.84 points (up 32.59% year-to-date).
10-year US Treasury yield: 4.321% (up 44.01 basis points year-to-date).
US Dollar Index: 106.058 (up 4.64% year-to-date).
Bitcoin: $99,885.44 (up 136.59% year-to-date), daily spot trading volume of $71.21 billion.
Ethereum: $3,867.01 (up 69.55% year-to-date), daily spot trading volume of $42.91 billion.
3. ETF Flows (December 12 EST).
Bitcoin ETF: +$132.78 million.
Ethereum ETF: +$51.94 million.
4. Important Dates (Hong Kong Time).
Core Inflation Annual Rate (December 11, 09:30 PM).
Actual: 3.3% / Previous: 3.3% / Expected: 3.3%
Inflation Annual Rate (December 11, 09:30 PM).
Actual: 2.7% / Previous: 2.6% / Expected: 2.7%.
PPI Monthly Rate (December 12, 09:30 PM).
Actual: 0.4% / Previous: 0.2% / Expected: 0.3%.
5. Hot News.
Magic Eden adds support for BNB Smart Chain.
a16z founder: Eliza has integrated Farcaster.
ZKsync releases 2025 roadmap: improving developer experience, performance, and security.
Bithumb will list Scroll (SCR) and Ronin (RON) on the Korean won market.
Anchorage Digital provides ETH re-staking services for institutions through integration with EigenLayer.
ODOS launches DAO and introduces a tokenized loyalty program, with rewards starting on December 20.
A giant whale withdrew 3.72 million OM from Binance in the past 48 hours, worth 15.53 million USD.
OpenSea's official X avatar has been changed to the Pudgy Penguins penguin image.
BlackRock executive: Currently focused on Bitcoin and Ethereum ETFs, rather than launching new altcoin ETFs.
Greeks.live: Bitcoin options with a nominal value of $2.1 billion and Ethereum options worth $640 million will expire today.
Tether has minted 1 billion USDT on the Ethereum network early this morning.
Alipay denies supporting direct purchases of cryptocurrencies.
Trump: Will do great things in the cryptocurrency space.
Grayscale launches Lido and Optimism trust funds.
Uplink becomes the first DePIN project launched on the Avalanche blockchain.
Trump elected 2024 Person of the Year, featured on the cover of (TIME) magazine.
MicroStrategy's Bitcoin strategy inspires imitation, with 144 companies now holding Bitcoin.
Ukraine plans to legalize cryptocurrency in early 2025, but will not offer tax incentives.
Binance will officially list Usual (USUAL) on December 18.
Sygnum Bank: 2025 may become a turning point for the cryptocurrency market, with risks from meme coin bubbles potentially limiting market gains.
Wintermute and DWF Labs become market makers for BSC Meme $MONKEY.
Vana releases VANA token economics: 44% of the total supply will be allocated to the community.
a16z Crypto policy chief has accepted an interview with the US CFTC chairman, results expected to be announced in the coming days.
Riot Platforms completes a $525 million note issuance to fund Bitcoin purchases.
BNY Mellon CEO: Tokenization is a major trend in financial markets.
Alipay page features an advertisement for a cryptocurrency fund: limit of 1000 yuan per person per day.
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