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30th December 2024 Ruling MiCA on $USDT

Crypto Snapshot: Latest News & Trends  

By SYGNAL

📈 Market News:

• Bitcoin’s Wild Ride: Bitcoin ($BTC) hit an all-time high above $108,000 but quickly fell below $93,000. It rebounded to $100,000 following a $20 trillion price prediction, reflecting market volatility. Analysts expect continued fluctuations due to macroeconomic factors. (CNBC) (Forbes)   
• Ethereum and Major Altcoins Rebound: Ethereum ($ETH), Ripple's XRP ($XRP), and Dogecoin ($DOGE) recovered alongside Bitcoin, helping the crypto market regain $300 billion in value. (Forbes)

💸 Money Flow:

• Tether's Treasury Holdings: Tether ($USDT)'s U.S. Treasuries stockpile drove record profits of $10 billion in 2024, showcasing the influence of stablecoin-backed assets. (Forbes)

🗣️ Crypto Influencers:

• Cathie Wood’s Bold Prediction: Ark Invest’s Cathie Wood reaffirmed her forecast of Bitcoin ($BTC) reaching $1 million by 2030, citing its potential to become a $20 trillion asset. (Forbes)

📜 Other Interesting Information:

• Bitcoin’s Growing Appeal: Amid monetary policy shifts and fiscal uncertainties, Bitcoin ($BTC)’s transparency is increasingly favored over fiat systems, highlighting its unique value proposition in the current economic climate. (Forbes)

Crypto Snapshot: Latest News and Trends  

By SYGNAL

📈 Market News:  

• Bitcoin ($BTC) surpassed $99,000 for the first time, driven by a surge in futures market activity during Asian trading. Analysts attribute this rally to post-election optimism about a more "crypto-friendly" administration. Ethereum ($ETH), Tether ($USDT), and Dogecoin ($DOGE) also gained traction as interest in the sector grows. (Forbes)
• The entire cryptocurrency market has surged 90% in 2024, marking a significant upward trend. (Forbes)   

💸 Money Flow:  

• ARK's Bitcoin ETF saw $267.3 million in inflows, while BlackRock's iShares Bitcoin Trust ETF options traded $1.9 billion on its first day, reflecting robust institutional interest in Bitcoin ($BTC). (CNBC)   

🌐 Adoption and Usage:  

• Acurx Pharmaceuticals announced plans to add up to $1 million in Bitcoin ($BTC) to its reserves, following in the footsteps of companies like MicroStrategy. (CNBC)   
• BlackRock’s iShares Bitcoin Trust ETF options began trading on Nasdaq, with a remarkable 73,000 contracts traded within the first hour. (CNBC)   

📜 Regulatory News:  

• Pennsylvania passed a Bitcoin Rights Bill and proposed a strategic reserve, though the move faces skepticism due to Bitcoin’s volatility. (Forbes)   

3. On-Chain Data

• Coinbase Premium: Positive✅
• Exchange Reserves: Extremely Low✅
• MVRV Ratio: 2,57 (cycle top above 3.7)✅
• Net Unrealized Profit/Loss (NUPL): 61 (cycle top above 75)✅
• Open Interest: Moderate👌
• Funding Rates: Moderate👌
• Fear and Greed Index: 83 (Extreme Greed)😱

Looking at the on-chain data, we can see that the market liquidity is on the rise as stablecoins like $USDT continue to grow and flow into exchanges👀

Since the U.S. Presidential election, $3.2 billion in $USDT has entered exchanges—marking the highest net flow since November 2021🤔

This surge in liquidity could pave the way for higher crypto prices in the coming weeks🚀

Crypto Market Pulse 👀

• Over the past 3 days, ETFs bought $2,3 Billion worth of $BTC 👀
• Over the past 3 days, ETFs bought $861 Million worth of $ETH 🤑
• Funding rates dropped after the initial push higher✅
• Exchange reserves continue to drop👌
• Below are liquidation heatmaps showing areas of interest🤔

Our bet is that we will go for the $95k liquidations first, push above $100k $BTC, trap more longs and then drop back down towards $80k. If we get this push up and we will see that the on-chain indicators are getting overheated, we will move 20-30% into $USDT to hedge our position for a potential correction.