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According to BlockBeats, CoinDesk market analyst Omkar Godbole reported on January 3 that Bitcoin reached an all-time high of over $108,000 in December 2024, but closed the month below $94,000. This price movement formed a 'shooting star' bearish reversal candlestick pattern on the monthly chart. The shooting star pattern is characterized by a long upper shadow, indicating a significant gap between the high and the opening price, with a small candle body showing a minor difference between the opening and closing prices. The upper shadow should be at least twice the size of the body, while the lower shadow is typically very short or absent. In Bitcoin's case, the upper shadow was nearly four times the size of the body, with almost no lower shadow. This pattern suggests that buyers initially drove the price higher, but sellers gained control near the peak, pushing the price below the opening level, hinting at a potential return of bearish sentiment in the market. The shooting star appeared after a significant upward trend from $70,000 to over $100,000, warning of a possible bearish reversal. If the price falls below December's low of $91,186, this reversal would be confirmed, marking a critical level for bulls to defend. Notably, similar long upper shadow candlestick patterns have appeared at previous bull market peaks. The cautionary signal from the latest shooting star aligns with the broader macroeconomic environment, suggesting challenges for risk assets. This is mainly driven by the Federal Reserve's recent hawkish signals, rising Treasury yields, and a strengthening dollar index. Despite these concerns, analysts remain confident that the Federal Reserve will retract its recent indication of reducing rate cuts in 2025, thereby supporting the bullish trend for Bitcoin and risk assets overall.

According to Foresight News, Dennis Porter, co-founder of the Satoshi Action Fund, recently tweeted that at least 13 U.S. states are currently working on legislation to establish Bitcoin strategic reserves. Porter anticipates that January will be a record-breaking month for Bitcoin policy advancements.

According to Odaily, Dennis Porter, co-founder of the Satoshi Action Fund, announced on the X platform that at least 13 states are in the process of drafting 'strategic Bitcoin reserve' legislation. January is expected to be a record-breaking month for Bitcoin policy developments.

According to Odaily, investment bank H.C. Wainwright has increased its Bitcoin price target for this year from $140,000 to $225,000. The bank attributes this potential price rise to increased regulatory clarity and institutional adoption.

According to PANews, Tree News reports that BlackRock's Bitcoin Trust (IBIT) has seen a daily outflow of approximately $330.8 million.

On Jan 02, 2025, 22:34 PM(UTC). According to Binance Market Data, Bitcoin has crossed the 97,000 USDT benchmark and is now trading at 97,042.25 USDT, with a narrowed 2.38% increase in 24 hours.

On Jan 02, 2025, 14:32 PM(UTC). According to Binance Market Data, Bitcoin has crossed the 97,000 USDT benchmark and is now trading at 97,249.992188 USDT, with a narrowed 3.65% increase in 24 hours.

According to PANews, Arkham monitoring has reported that Grayscale transferred 700 BTC to an unmarked address beginning with 'bc1qtj' approximately four minutes ago. The transaction is valued at around $67.44 million.

According to BlockBeats, on January 2, Cointelegraph reported on social media that Michael Saylor anticipates a significant capital migration into Bitcoin over the coming decades. He predicts that investors will sell resources, currencies, and real estate in favor of investing in BTC.

According to Odaily, Bitfarms has released its latest monthly production report, revealing that the company mined 211 BTC in December 2024. This marks a 2% increase from the previous month but a 53% decrease compared to the same period last year. As of December 31, 2024, Bitfarms' operational speed reached 12.8 EH/s, reflecting a 97% year-over-year growth. The company's total BTC production for the year amounted to 4,928 BTC. In its regular financial management activities, Bitfarms sold 147 of the 211 BTC mined in December, generating $14.3 million in revenue. The company's total liquid assets stand at $147 million, which includes approximately $60 million in cash as of December 31, 2024. Additionally, Bitfarms increased its treasury holdings by 64 BTC, bringing the total to 934 BTC, valued at approximately $87.8 million.

According to Odaily: U.S. Bitcoin spot ETFs now collectively hold 1,125,698 BTC, accounting for approximately 6% of Bitcoin's total supply.

According to Foresight News, data from K33 Research indicates that the asset management scale (AUM) of U.S. spot and derivatives Bitcoin ETFs has surpassed $129 billion, exceeding that of gold ETFs, which stands at $128.8 billion. OSL's Chief Institutional Business Officer, Zhang Yinghua, noted that the total AUM of Hong Kong's Bitcoin spot ETFs is HKD 3.087 billion, accounting for 0.66% of the Hong Kong ETF market, valued at HKD 463 billion. OSL's partners hold over 60% of this market share. Zhang further explained that in terms of market share, the $129 billion AUM of U.S. Bitcoin ETFs represents 1.2% of its ETF market, while Hong Kong's equivalent is 0.66%. Despite the difference in absolute numbers, the proportional comparison shows no significant disparity. Since its launch on April 30, 2024, Hong Kong's Bitcoin ETF has seen a net inflow of approximately 380 BTC, with its total AUM growing by about 66%. This indicates that Hong Kong's crypto ETFs have a notable impact on the local financial market and possess significant growth potential.

On Jan 02, 2025, 08:14 AM(UTC). According to Binance Market Data, Bitcoin has crossed the 96,000 USDT benchmark and is now trading at 96,005.601563 USDT, with a narrowed 2.41% increase in 24 hours.

ChainCatcher reports that Bitcoin's price fluctuations are set to intensify liquidation pressures across mainstream centralized exchanges (CEX). If Bitcoin surpasses the $98,000 mark, cumulative short liquidations could reach $213 million. Conversely, a drop below $94,000 could lead to long liquidations totaling $207 million. These thresholds highlight the high-stakes volatility shaping the crypto market.

According to PANews, Dennis Porter, co-founder and CEO of the Satoshi Action Fund (SAF), announced on the X platform that a U.S. state is almost certain to start purchasing Bitcoin within the next four months. Porter emphasized that his team is actively working to pass relevant legislation, indicating that this is not merely a prediction but a real development in progress.

According to Odaily, Lin Chen, Deribit's Head of Business for the Asia-Pacific region, shared insights on X regarding a significant Bitcoin options trade. A user paid $984,000 in premiums to purchase call options for 400 BTC, set to expire on January 10 this year. The strike price for these options is $96,000. Chen analyzed that due to the holiday season, market liquidity is currently low, causing Bitcoin prices to fluctuate between $94,000 and $95,000. He anticipates a potential market recovery as activity resumes next week.

According to Foresight News, Anthony Scaramucci, founder of SkyBridge Capital, recently expressed confidence that a plan for the government to purchase 500,000 bitcoins will pass in the U.S. Senate. Scaramucci stated, "They have the votes. Hagerty wants it. McCormack wants it too. I do believe so, yes." Although Senator Lummis previously proposed a strategic reserve bill to acquire 1 million bitcoins, Scaramucci anticipates the final plan will involve increasing the current holdings of approximately 200,000 bitcoins by an additional 400,000 to 500,000.

According to Odaily, data from hashrateindex.com reveals that the Bitcoin network's seven-day simple moving average (SMA) of hashrate reached 808 EH/s on December 31, 2024. This surpasses the previous record of 805-806 EH/s set on December 14, 2024. Additionally, the three-day SMA indicates that the hashrate climbed to 836 EH/s. As of January 1, 2025, the Bitcoin network's hashrate stood at 799.99 EH/s, supported by 62 independent mining pools currently in operation. Throughout 2024, miners collectively added 262 EH/s to the network's hashrate.

On Jan 01, 2025, 21:23 PM(UTC). According to Binance Market Data, Bitcoin has crossed the 95,000 USDT benchmark and is now trading at 95,001.078125 USDT, with a narrowed 1.37% increase in 24 hours.

According to CoinDesk, multi-asset investors can assess bitcoin's suitability for their portfolios by addressing three critical questions regarding return expectations and target portfolio volatility. This evaluation helps determine bitcoin's optimal allocation based on individual investment goals. Bitcoin's price dynamics are primarily influenced by demand rather than its mining supply. Historically, each of bitcoin's five bull markets has been driven by innovations in investor access, such as the creation of early spot exchanges and the introduction of futures, uncollateralized borrowing, spot bitcoin ETFs, and options on these ETFs. These developments highlight bitcoin's increasing integration into traditional financial markets, a trend bolstered by regulatory approvals from U.S. agencies like the CFTC and SEC, which have progressively legitimized bitcoin-based financial products. The 2017 decision to maintain Bitcoin's 1-megabyte block size resolved a long-standing debate within the Bitcoin community about scaling the network. Initially implemented to manage congestion and uphold decentralization, the block size limit became a defining feature, emphasizing decentralization over higher transaction throughput. This decision solidified bitcoin's role as "digital gold." This framework aids traditional finance investors in understanding bitcoin's role as digital gold, a risk mitigation tool, or an inflation hedge, offering insights into its valuation potential. While bitcoin is unlikely to disrupt the $8 trillion jewelry market, it could capture portions of the $10 trillion addressable market, including private investments ($4 trillion), central bank reserves ($3.1 trillion), and industrial use ($2.7 trillion). With bitcoin’s current market cap at $2 trillion, this suggests a potential fivefold growth as it strengthens its position as digital gold. Bitcoin's nature as a technology with strong network effects distinguishes it from gold, which lacks these characteristics. Network technologies often follow an "S-curve" adoption model, with mass adoption accelerating once the critical 8% threshold is surpassed. Currently, bitcoin's market capitalization of $2 trillion represents just 0.58% of the nearly $400 trillion global financial asset portfolio. This share is expected to grow as asset managers, pension funds, and sovereign wealth funds increasingly incorporate bitcoin into their investment strategies. To strategically integrate bitcoin into a forward-looking, Markowitz-optimized portfolio, investors must consider how bitcoin is expected to perform relative to equities, how equities will perform relative to bonds, and the target portfolio's overall volatility. For instance, if bitcoin is projected to outperform U.S. stocks by 30% in 2025, U.S. stocks outperform U.S. bonds by 15%, and the portfolio targets a 12% volatility level, adjustments occur: equities increase from 19.1% to 24.9%, real estate drops from 16.8% to 0%, fixed income rises from 44.6% to 57.7%, and alternatives (including private equity, hedge funds, gold, and bitcoin) decrease from 19.5% to 17.4%. Notably, bitcoin's allocation jumps significantly from 0.58% to 5.77%. This adjustment enhances the portfolio's expected return from 11.3% to 14.1%, leveraging a volatility-targeted Black-Litterman-optimized framework, an analytical tool for optimizing asset allocation within an investor’s risk tolerance and market views. By addressing these key questions and applying this approach, investors can determine their ideal bitcoin allocation.