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President-elect Donald Trump is forming a crypto advisory council comprising 24 CEOs to collaborate with the SEC, CFTC, and Treasury for regulatory clarity and to draft cryptocurrency legislation. The council aims to establish a strategic Bitcoin reserve and promote a pro-crypto environment.The crypto industry is preparing for the 'Inaugural Crypto Ball' on January 17 in Washington, DC, organized by BTC Inc and Stand With Crypto, with tickets priced at $2,500. Key figures, including Circle CEO Jeremy Allaire, have engaged with Trump to discuss crypto-friendly policies and support the new administration.
Intesa Sanpaolo, Italy's largest banking group, has made headlines by purchasing 11 Bitcoins for approximately $1 million, marking a significant step in the country's crypto landscape. This investment follows a leaked internal email and comes amid a government announcement to increase the capital gains tax on cryptocurrencies from 26% to 42%. The bank's move reflects growing institutional interest in digital assets, as it continues to explore blockchain opportunities and expand its trading division to include cryptocurrency spot trading.
Bitcoin's price dipped below $90,000 for the first time in eight weeks, driven by investor concerns over economic risks and a declining S&P 500. Despite a 12.5% drop, derivatives metrics indicate a neutral to bearish outlook, with significant institutional flows suggesting mixed sentiment. The market remains cautious amid geopolitical tensions and a stronger US dollar, as traders prioritize safety over riskier assets.
Ethereum (ETH) fell 8% to $2991 amid concerns over rising inflation and a strong U.S. job market, which pressured risk investments. Despite a 110% increase in open interest since last August, ETH remains over 20% below its all-time high, with whales accumulating more tokens. Tight liquidity and recent U.S. economic data suggest further price declines may be imminent.
Bitcoin has fallen below $90,000, with historical trends indicating potential further declines in January, while long-term investors continue to accumulate. The S&P 500 has also faced corrections amid a strong US Dollar Index, which is affecting risk assets. Key support levels for Bitcoin and other cryptocurrencies are under pressure, with significant implications for future price movements.
Semler Scientific has purchased an additional 237 Bitcoin for approximately $23 million, raising its total holdings to 2,321 BTC valued at nearly $192 million. The company, which has issued over $120 million in stock to finance its Bitcoin strategy, reported a significant increase in its "Bitcoin yield" from 72.6% to 99.3%. This move is part of Semler's efforts to emerge from "zombie" status, as it focuses on acquiring and holding Bitcoin amidst a growing trend of corporate investments in the cryptocurrency.
Bitcoin's price prediction for 2025 varies widely, with a bullish scenario potentially reaching $150,000-$250,000 driven by institutional adoption and favorable macroeconomic conditions, while a bearish outlook could see it linger between $50,000-$70,000 amid regulatory challenges and economic downturns. Historical trends indicate that post-halving years often exhibit bullish momentum, and the cryptocurrency's performance may be influenced by geopolitical factors and regulatory clarity. As Bitcoin gains traction as a digital asset and hedge against inflation, its future remains closely tied to market dynamics and institutional interest.
MicroStrategy has acquired an additional $243 million in Bitcoin, bringing its total holdings to approximately 450,000 BTC, purchased at an average price of $62,691 each. Despite Bitcoin's recent price fluctuations, the company's shares have seen a significant decline, now trading at $328, down 30.65% from their peak in November. The firm continues its aggressive buying strategy, having recently purchased $101 million worth of Bitcoin just a week prior.
MicroStrategy has continued its aggressive Bitcoin acquisition strategy, adding 2,530 BTC for $243 million, bringing its total holdings to 450,000 BTC. Over the past 10 weeks, the company has acquired nearly 200,000 BTC, significantly outpacing BlackRock's IBIT, which added around 120,000 BTC. Despite this milestone, MicroStrategy's stock fell 5% in premarket trading, reflecting broader market trends as Bitcoin trades just above $90,000.
Billy Markus, co-founder of Dogecoin, humorously commented on Bitcoin's recent plunge, which saw its price drop over $4,000 in less than a day, stating, “Happy Monday.” This sparked discussions among users on social media about the cryptocurrency's volatility.In the meantime, MicroStrategy announced a significant Bitcoin purchase of $243 million, bringing its total holdings to over 450,000 BTC, equivalent to approximately $40.6 billion. Michael Saylor, the company's CEO, has previously expressed intentions to hold Bitcoin indefinitely and predicted its future value could reach $13 million.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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