Bitcoin briefly broke through $100,000 on January 7, but has since declined for three consecutive days this week. Today (the 10th) at 4 AM, the price fell to $91,200, hitting a new low since December 5 of last year. Now, Bitcoin is slowly rebounding, and as of this writing, the price is reported at $92,681, with a 24-hour decline reduced to 2.56%.
Fidelity's Bitcoin spot ETF saw the largest single-day outflow.
With the recent market decline, Sosovalue data shows that as one of the main buying forces of Bitcoin, the Bitcoin spot ETF experienced a record outflow on January 8, with a total amount reaching $582 million.
Among them, Fidelity's FBTC fund had an outflow amount of $259 million, setting a record for the largest single-day outflow. Other issuers, such as BlackRock's IBIT, Ark, and 21Shares' ARKB, also experienced outflows of $124 million and $148 million, respectively.
Whales have accumulated $110 million in Bitcoin.
Despite the recent market downturn, many large players are still actively 'buying Bitcoin.' According to monitoring by The Data Nerd, some whales have accumulated $110 million in Bitcoin during this wave of market movement. Specifically:
Cumberland withdrew 390 Bitcoins, worth about $36.64 million.
Galaxy Digital withdrew 400 Bitcoins, approximately $37.76 million.
The address bc1qh also withdrew 400 Bitcoins, approximately $37.41 million.
IntoTheBlock recently analyzed that despite the pullback in Bitcoin prices, the reserves of Bitcoin on exchanges continue to flow out. This indicates that investors seem more inclined to hold onto their coins and wait, rather than rushing to panic sell.
Analysts: Trump's inauguration may drive Bitcoin into the next rebound.
CoinDesk analyst Omkar Godbole stated that the current defensive measures in the market might be due to Trump officially taking office on the 20th of this month, which could be seen as a signal of 'good news fully priced in.'
However, in reality, after Trump takes office, many policies beneficial to businesses and the economy will gradually be implemented, and at that time, the cryptocurrency market may also usher in a more favorable regulatory environment. Even the issue of Bitcoin reserves may be put on the agenda. Therefore, Trump's inauguration is likely to become a catalyst for the market rebound.
At the same time, QCP Capital also pointed out that the current pullback might be laying the groundwork for the next rebound. This week, special attention should be paid to the U.S. non-farm payroll data and the FOMC meeting minutes, which could provide important clues for Bitcoin's subsequent trend.