1. Market Observation
Keywords: ETH, ETF, BTC
Cryptocurrency ETFs attracted $585 million in inflows this month, mainly from BTC and ETH funds, despite profit-taking declines in December. Meanwhile, Calamos is planning to launch an innovative BTC ETF that provides comprehensive downside protection through an annual reset mechanism, while limiting potential gains. BTC is expected to perform well in 2024, ranking as the 7th largest global asset and potentially surpassing $102,000 for the first time in 2025. However, trading volume has fallen to the lowest level since 2021, and renowned analyst Peter Brandt has warned of a potential 50% correction, introducing uncertainty to the market.
On the regulatory front, the Winklevoss twins' Gemini reached a $5 million settlement with the CFTC, resolving misleading allegations during the launch of the first US-regulated BTC futures contract. Positive market news continues, with the Coinbase premium index turning bullish, and MicroStrategy adding 1,070 BTC, driving a rise in the crypto market on Monday. However, BTC faced resistance at the $108,000 level and briefly dipped below the $100,000 psychological barrier. Nevertheless, the sustained institutional support and the overall growth of the global cryptocurrency market continue to provide momentum for BTC to reach higher targets.
2. Key Data (as of January 8, 09:20 HKT)
S&P 500: 5,909.03 (+0.47% YTD)
Nasdaq: 19,489.68 (+0.93% YTD)
10-year US Treasury Yield: 4.680% (+10.40 bps YTD)
US Dollar Index: 108.66 (+0.16% YTD)
BTC: $96,957 (+3.79% YTD), Daily Spot Volume: $60.69 billion
ETH: $3,394.61 (+1.49% YTD), Daily Spot Volume: $33.32 billion
3. ETF Flows (January 7 EST)
BTC ETFs: -$457.43 million
ETH ETFs: -$19.15 million
4. Important Dates (Hong Kong Time)
FOMC Meeting Minutes (January 9, 03:00)
Nonfarm Payrolls (January 10, 21:30)
Actual: TBA / Prior: 227k / Expected: 150k
Unemployment Rate (January 10, 21:30)
Actual: TBA / Prior: 4.2% / Expected: 4.2%
5. Top News
ZKsync Ignite Launches Ignite Season 1 Incentive Program, Allocating 100 Million ZK
Illuvium Collaborates with Virtuals to Introduce Autonomous AI NPCs to Its Game
Sol Strategies Secures $25 Million Credit Facility to Invest in the Solana Ecosystem
MicroStrategy to Purchase Over $22 Billion in BTC by 2024
Usual to Enable Token Fee Switch Before February 1
Jambo to Launch J Token on Solana This Month, with a Total Supply of 1 Billion
Binance to List COOKIE, ALCH, and SWARMS Perpetual Contracts, Offering up to 75x Leverage
Backpack Exchange Acquires FTX EU for $32.7 Million, NFT Project Mad Lads Surges 24% in the Short Term
Binance Alpha Adds HAT, AIXCB, and NEUR
NVIDIA Announces "World's Foundation Model" NVIDIA Cosmos
Solana Mobile's Second Phone, Solana Seeker, Expected to Launch in Mid-2025
Babylon to Launch Phase 2 Testnet on January 8
Arthur Hayes: Crypto Market May Peak in Mid-March, Then Experience Severe Correction
Anti-Crypto Federal Reserve Vice Chair Michael Barr Resigns
Supported by OSL - Hong Kong's largest over-the-counter trading platform, providing regulated digital asset services since 2018.
