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BlackRock’s Bitcoin ETF experienced record outflows, totaling over $1.5 billion in just four days, with a single-day outflow of $188.7 million on December 24. In contrast, Ether ETFs saw inflows of $53.6 million on the same day, continuing a positive trend. As of December 16, US Bitcoin ETFs surpassed gold funds in assets under management, reaching over $129 billion.
XRP has seen a significant surge in wallet growth, outpacing Bitcoin and Ethereum, with approximately 5.75 million holders now on the network. This increase reflects rising interest in XRP as a bridge currency for cross-border transactions, particularly among financial institutions and governments in BRICS nations. Despite a stagnant price around $2.17, the growing adoption suggests a strong foundation for future growth.
Solana (SOL) is showing signs of recovery, trading above $190 after testing the $175 support level. The price faces resistance near $200 and $205, with key levels at $208 and $215 potentially paving the way for further gains. However, failure to break above $208 could lead to a decline, with initial support at $195 and major support at $188.
XRP price has rebounded above the $2.25 mark but is struggling to overcome the $2.350 resistance level. A bullish trend line supports the price at $2.285, while initial support is near $2.28. If the resistance is not cleared, a decline towards $2.240 or lower could occur.
The IRS has clarified that cryptocurrency staking rewards are taxable as income upon receipt, rejecting claims that they represent "new property." This decision stems from a legal dispute involving Tennessee residents who argued for delayed taxation until the rewards were sold. The ongoing case may set a significant precedent for the taxation of staking rewards in the U.S.
U.S. spot bitcoin ETFs faced significant outflows of $226.56 million on December 23, with Fidelity’s FBTC losing $145.97 million, while ethereum ETFs enjoyed a $130.76 million inflow, led by Blackrock’s ETHA with $89.51 million. Despite the losses, bitcoin funds still hold $105.08 billion in BTC, while ethereum funds have $12.05 billion in ether reserves.
Gen Z crypto users surged by 683% on Bitget following Donald Trump's election victory, with their share of new users rising from 26.2% to 53.8% in November. This demographic, driven by Trump's pro-Bitcoin stance and favorable market conditions, saw 844,000 new users under 25 join the platform, reflecting a significant shift in crypto engagement among younger investors.
Last week, digital asset investment products saw $308 million in inflows, despite a significant outflow of $576 million on December 19th, leading to a total of $1 billion in outflows over the last two days. Bitcoin ended the week with net inflows of $375 million, while multi-asset products faced losses of $121 million. The US led inflows with $567 million, while Switzerland recorded the largest outflows at $95.1 million.
The Bitcoin Coinbase Premium Index has dropped to -0.221%, indicating increased selling pressure on Coinbase compared to Binance. This trend suggests that institutional investors may be offloading their holdings, contributing to Bitcoin's recent price decline. However, historical patterns show that when the index nears -0.2%, it often signals a potential buying opportunity, as new buyers may enter the market to accumulate on the dip.
MicroStrategy is convening a special shareholder meeting to seek approval for expanding its equity-issuance plan, aiming to purchase an additional $42 billion in Bitcoin over the next three years. The company plans to increase authorized shares of Class A common stock from 330 million to 10.33 billion and preferred stock from 5 million to over 1 billion. As of December 22, MicroStrategy holds approximately 444,262 BTC, valued at around $43.53 billion, and has seen its stock rise over 422% this year, largely due to its Bitcoin strategy.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
BlackRock Bitcoin ETF faces record outflows totaling 1.5 billion dollars
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xrp price struggles to break key resistance as bulls aim for gains
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irs confirms taxation of crypto staking rewards upon receipt
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00:30 25.12.2024
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