);)
BTC briefly broke through $99,000 on the 25th, thanks to low-price buying by whale wallets following the selling of short-term holders. According to data from the on-chain analysis platform Sentiment, short-term holders who had expected a 'Santa Rally' were disappointed by Bitcoin's sideways movement on the 25th and started selling, which was then bought by whale wallets, resulting in Bitcoin rising more than 5%. The sharp rise in Bitcoin led to the liquidation of about $162 million in short positions and $128 million in long positions in the futures market on the 25th.
2. Russia declares use of cryptocurrencies in international trade
Anton Siluanov, Russia's Finance Minister, said on the 25th that Russia will proceed with international trade using cryptocurrencies instead of the dollar. In an interview with the Russian state news channel Russia 24, Minister Siluanov announced that the Russian government has passed a law to conduct international trade using cryptocurrencies, including BTC. Minister Siluanov explained that the Russian government is already using cryptocurrencies in some international trade, and will actively use BTC mined in Russia for international trade.
3. Turkey "Mandatory identity verification for cryptocurrency transactions over 62 million won from next year"
The Turkish government announced on the 25th that it will enact a law from January 1, 2023, to make it mandatory to verify the identity of traders for cryptocurrency transactions of 15,000 lira (about 62 million won) or more, in order to prevent money laundering. According to the law signed by Turkish President Erdogan, exchanges in Turkey must verify the identity of traders and monitor transactions for cryptocurrency transactions of 15,000 lira or more, and report suspicious activities to the authorities.
4. Cryptoquant CEO "The US government can reduce debt by accepting Bitcoin"
Joo Kyung-young, CEO of Cryptoquant, argued that the US government can efficiently reduce its debt by accepting BTC as a strategic asset. The CEO said through his X account on the 25th that BTC has attracted $2 trillion in capital over the past 15 years, and has increased capital by $1 trillion this year alone. He described that "Unlike gold or the dollar, BTC can be pumped in value, which can offset the dollar debt."
5. Ethereum's physical ETF net inflow exceeds 3.6478 trillion won
Ethereum (ETH) physical exchange-traded funds (ETFs) in the US surpassed $25 billion (about 3.6478 trillion won) on the 24th.
Reporter Kwon Seung-won ksw@blockstreet.co.kr
