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BlackRock's Bitcoin ETF experienced a record outflow of $72.7 million on December 20, marking the largest since its launch in January. This followed a significant outflow of $208.5 million from Fidelity's Bitcoin fund the previous day, raising concerns among investors about the future of Bitcoin ETFs amid declining trading volumes. Despite recent challenges, analysts suggest that outflows may not persist, as Bitcoin's price has shown signs of recovery after a dip.
Monero is poised to reclaim its previous high above $500, while Chainlink faces volatility after an 18% drop, despite significant purchases linked to Donald Trump's DeFi platform. Rollblock is gaining traction with predictions of a 50x return in 2025, bolstered by its innovative GambleFi offerings and strong community support. Meanwhile, Sui and Ondo are navigating market challenges but remain bullish with institutional backing and upcoming events.
Bitcoin recently surged past $108K, driven by institutional interest and the approval of Bitcoin spot ETFs, while Solana aims for $500 by year-end, bolstered by its DeFi and NFT projects. Meanwhile, Yeti Ouro is gaining traction with its unique meme coin approach and a community-driven Meme Contest, offering substantial prizes to participants. Each of these assets presents unique investment opportunities as 2024 approaches.
Ethereum's price has dropped over 12% recently, influenced by the US Federal Reserve's rate cut and declining interest in spot Ethereum exchange-traded funds (ETFs). After an 18-day streak of positive inflows, US-based ETH ETFs experienced significant net outflows totaling $135 million over two days, with BlackRock's Ethereum Fund leading the losses. As of now, Ethereum is priced at approximately $3,342, reflecting a 2.4% decline in the last 24 hours, highlighting the need for a return to positive ETF inflows to stabilize its value.
Ethena has surged past key resistance levels, currently trading around $1.15, indicating potential long-term growth. Analyst Alan Santana highlights the importance of closing above $1.11 to confirm the bullish trend, despite a recent 13.85% correction. The launch of USDtb, a stablecoin by Ethena Labs, further enhances its scalability and liquidity across multiple blockchains.
Colombian investors can now trade shares of the IBIT Bitcoin ETF, issued by BlackRock, in pesos, marking a significant development in the country's financial markets. This ETF, managing over 500,000 BTC and valued at $50 billion, offers regulated access to Bitcoin, facilitating portfolio diversification while lowering barriers for new participants in the crypto sector. Currently, IBIT shares are trading at an average price of 242,960 pesos, approximately 55 US dollars, reflecting its valuation in global markets.
Bitcoin has fallen below $100,000, raising questions about whether this is the end of the bull market or a healthy correction. Analysts attribute the decline to market makers' strategies and predict a bounce back to $101,000, supported by strong buying in the $93,788-$92,200 range.Meanwhile, BlackRock's significant investments in Bitcoin, including a $1.5 billion purchase, highlight institutional confidence in the cryptocurrency, contrasting with broader market selling. The Fear and Greed Index remains in the 'greed' zone, suggesting many view the dip as a buying opportunity.
The cryptocurrency market underwent a significant transformation in 2024, with Bitcoin rebounding to new heights following the launch of spot ETFs and substantial investments from Wall Street firms. Major banks now dominate trading, while regulatory changes have led to a cleaner, more professional market, integrating crypto into traditional finance.New projects and improved technology have made crypto more accessible, with gaming and NFT applications finding real-world use cases. As the market matures, institutional investment continues to grow, signaling a bright future for the crypto landscape.
Bitcoin exchange-traded funds (ETFs) experienced their largest net outflows since launch, totaling $671.9 million on December 19th, coinciding with a price drop below $100,000. Fidelity’s FBTC led the outflows with $208.5 million, while BlackRock’s IBIT remained stable. This marked the end of a 15-day inflow streak for Bitcoin ETFs and an 18-day streak for Ethereum ETFs.
Balaji Srinivasan, former CTO of Coinbase, highlights the rapid growth of Bitcoin and AI, showcasing charts that illustrate Bitcoin spot ETFs surpassing gold ETFs by 73% in assets under management. With Bitcoin's adoption reportedly outpacing that of the internet, tech veteran Alan Knitowski notes its growth is reminiscent of the internet's early days, despite having fewer than 1 million BTC addresses.
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