1. Market Observation
Keywords: ETH, ETF, BTC
Affected by the increase in volatility, the price of Bitcoin has recently retreated to $91,000, causing some analysts to be concerned about the prospects of the cryptocurrency market. However, some top analysts pointed out that the delay in the parabolic rebound of Bitcoin is actually a mixed blessing, as it may mean that the current bullish trend will continue to develop before reaching the parabolic upward trend.
It is worth noting that the performance of the US spot Bitcoin ETF has been strong, with weekly inflows exceeding $2 billion, and the holdings have surpassed those of Satoshi Nakamoto, with investor demand increasing by 4% compared to the level in March 2023. At the same time, Switzerland is taking a groundbreaking move to propose that the Swiss National Bank include Bitcoin in its $1.03 trillion reserve assets, which not only has the potential to reshape the global financial landscape, but may also have a significant impact on the price trend of Bitcoin.
There have also been some notable developments in the market: an early Ethereum ICO participant has transferred $2.14 million worth of ETH to Coinbase after being dormant for nearly nine years; at the same time, a well-known "blockchain bandit" has also activated a dormant wallet and transferred $172 million worth of ETH.
Looking ahead to 2025, Bitcoin still faces certain pressure, with analysts predicting that the price may fall below $90,000 before rebounding to $120,000. SkyBridge Capital founder Anthony Scaramucci predicts that due to tightening supply, the price of Bitcoin may double. In addition, Binance's record-breaking reserve size and the approval of spot ETFs will help Bitcoin maintain its position as a major investment asset in 2025. It is expected that Bitcoin's market dominance, which was set in late 2024, will continue throughout 2025, while ETH is also showing a strong upward trend.
2. Key Data (as of 1:15 pm HKT on January 1)
S&P 500: 5,881.63 (+24.01% YTD)
Nasdaq: 19,310.79 (+30.78% YTD)
10-year US Treasury yield: 4.581% (+69.4 bps YTD)
US Dollar Index: 108.47 (+7.01% YTD)
Bitcoin: $93,468.69 (+120.4% YTD), daily spot trading volume of $39.865 billion
Ethereum: $93,468.69 (+46.1% YTD), daily spot trading volume of $19.067 billion
3. ETF Flows (as of December 31 EST)
Bitcoin ETF: +$35.9324 million
Ethereum ETF: +$5.3181 million
4. Important Dates (Hong Kong Time)
ISM Manufacturing PMI (11:00 pm on January 3)
Actual: To be announced / Previous: 48.4% / Expected: 48.3%
5. Hot News
Syria Proposes to Legalize Bitcoin to Promote Economic Recovery
1confirmation Founder: ETH Will Eventually Reach $10,000
3A Blockchain Game Seraph "Darklight Angel" to Launch TGE Soon
Musk Posts Tweets Containing Frog Elements Twice
Ether.fi Launches Berachain Incentivized Pre-Staking Vault
AI16Z Becomes the First AI Token with a Market Cap Over $2 Billion on Solana
FLock.io Announces Mainnet Launch and Token Generation Event on Base
Binance Labs to Invest in 46 Projects in 2024, Focus on Blockchain, AI, and Biotech in 2025
Top 3 Worst Performing Tokens by YTD Return in the Top 500 Crypto Market Cap: STRAX, KUJI, SATS
Matrixport: Solana and Sui Competition Intensifies, Ethereum May Face Increased Competition in 2025
Musk Reposts "Elon Musk is now Kekius Maximus"
Supported by OSL - Hong Kong's largest over-the-counter trading platform, providing regulated digital asset services since 2018.
