1. Market Observation

Keywords: ETH, ETF, BTC

The cryptocurrency market has recently shown a volatility trend. Despite the market's anticipation of a "Santa Claus rally," Bitcoin has fallen due to reduced buying activity from large investors. Concerns that the Federal Reserve may take a tougher stance and a decrease in interest rate expectations have also led to a weak performance in the cryptocurrency market over the weekend. Notably, the tokenization platform Allo has secured $100 million in funding to strengthen its Bitcoin-backed lending business. Although Ethereum has not reached a new all-time high, it still shows strong growth potential.

Analyst Justin Bennett pointed out that the current bullish pattern of BTC is similar to previous surges, predicting that Bitcoin could break through $168,500 based on historical trends. On the institutional side, MicroStrategy remains optimistic about Bitcoin, increasing its holdings by 5,262 BTC for $561 million, marking the company's seventh consecutive week of purchases. Meanwhile, Senator Ted Cruz expressed his support for Bitcoin at the Turning Point Americafest conference.

However, the market also faces some challenges. The Wall Street Journal raised concerns that Bitcoin could be threatened by quantum computing, and according to historical patterns, BTC's price adjustment could reach 30%. Currently, Bitcoin's average trading volume is $31 billion, still far below historical highs. Deribit CEO Luuk Strijers noted that $84,000 is the "maximum pain" level for Bitcoin ahead of significant options expiration in December. Nevertheless, key indicators of on-chain activity still suggest that the Web3 sector is poised for sustainable growth.

2. Key Data (as of December 24, EST)

• S&P 500: 6,040.04 points (up 26.50% year-to-date)

• Nasdaq: 20,031.13 points (up 32.88% year-to-date)

• 10-Year U.S. Treasury Yield: 4.591% (up 70.4 basis points year-to-date)

• U.S. Dollar Index: 108.095 (up 6.63% year-to-date)

• Bitcoin: $98,173.47 (up 128.0% year-to-date), daily spot trading volume of $46.935 billion

• Ethereum: $3,489.17 (up 53.50% year-to-date), daily spot trading volume of $23.267 billion

3. ETF Flows

• Bitcoin ETF: -$150 million (as of December 24, EST)

• Ethereum ETF: +$131 million (as of December 23, EST)

4. Important Dates

With the Christmas holiday approaching, the Hong Kong stock market and financial markets in several European countries will be closed for two and a half days starting Tuesday (24th), while the U.S. stock market will be closed for one and a half days.

5. Hot News

• VitaDAO Plans to Distribute 6.9 Million BIO to VITA and VitaDAO IPT Holders

• GoPlus Releases GPS Token Economics: 10% of Total Supply Will Be Used for Airdrops

• aiPool Community: 10% of Tokens Remain Undistributed, Final Distribution Expected by Tomorrow

• Glassnode: Solana Has Maintained Positive Net Capital Inflows Since Early September 2023

• South Korea's Average Daily Cryptocurrency Trading Volume in November Matches Stock Market, Total Investor Count Exceeds 15 Million

• An Anonymous User Staked 10,000 BTC on Babylon 10 Days Ago, Valued Over $1 Billion

• A Whale That Received 116.7 Million PENGU Airdrop Purchased $1 Million Worth of PENGU Tokens

• Cumberland Deposited 16,201 ETH to Coinbase, Valued at Approximately $55 Million

• Binance Alpha Adds 5 New Projects: GAME, UFD, GEL, GOUT, and YNE

• Sahara AI Releases 2024-2025 Roadmap: Sahara Chain Mainnet to Launch in Q3 2025

• Justin Sun Denies Rumors of Liquidating ETH: It's Just a Transfer of ETH Between Different Wallets by the Team

• The Analog Cross-Chain Interoperability Protocol Mainnet Officially Launched, Core Features to Be Introduced Before TGE

• Mt. Gox Has Transferred Over 3,631 BTC to B2C2 Group Since December 5

• Matrixport: Bitcoin's Pullback May Be Fueling a Rally in 2025, with $90,000 to $95,000 as an Ideal Pullback Range

• Binance Supports Fantom's Rebranding to Sonic and Token Swap

• Virtual Protocol Ecosystem Tokens Surge, GAME Rises Over 30% in 24 Hours

• IOTA to Introduce Sustainable Token Economic Model with an Annual Inflation Rate of 6%

• South Korean Regulators Deny Reports of Allowing Companies to Purchase Cryptocurrency Soon

• Forbes Predicts Seven Major Trends in the Crypto Industry for 2025: G7 or BRICS Countries May Establish Strategic Bitcoin Reserves

• Grayscale Announces Opening of 22 Cryptocurrency Trust Products for Private Placement

• Meme Coins Account for 31% of Crypto Narrative in 2024, Nearly Quadrupling from Last Year

• IRS Reiterates in Lawsuit That Cryptocurrency Staking Should Be Taxed

Supported by OSL - Hong Kong's largest over-the-counter trading platform, continuously providing regulated digital asset services to the market since 2018.

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