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Guess what day it is Folks? HUMPDAY! Bitcoin is trading down at $34,288.38. Bitcoin continues it's slow push up but will it blast off to $42K? I will continue to update this throughout the day so check back later.
SUMMARY
Yesterday, Bitcoin was in an "anti-gravity" phase as dominance soared to 2.5-year high and the price rocketed past $34K with ETF excitement growing; triggering liquidations across the board(4) and BlockFi can begin repaying creditors after emerging from bankruptcy.(4)
Today, Bitcoin is up 100% this year and it's not just because of spot BTC ETF hype; 82% of Bitcoin holders are ‘in the money.' According to Chainlysis, the United States ranks fourth globally with regard to crypto adoption, behind India, Nigeria and Vietnam. Bitcoin hovers over $34K as BlackRock IBTC ticker euphoria fades out. Meanwhile, BlackRock's proposed ETF returns to DTCC list after disappearing earlier yesterday; which they say is "not indicative" of an approval. BlackRock is seeding their spot-based Bitcoin ETF as financial giant gears up to launch BTC Trust according to Bloomberg Analyst Eric Balchunas. Yesterday, Tom Gorman, a former attorney for the U.S. Securities and Exchange Commission (SEC), spoke with Bloomberg TV about the uncertain future of a spot Bitcoin ETF receiving SEC approval; not guaranteed. SEC’s Gensler won’t say what’s next with Bitcoin ETFs after Grayscale loss.
Gio Vicioso, CME’s head of crypto, told Blockworks that his firm has “been prepared” for the bitcoin rally taking place on Tuesday. AllianceBernstein calls bitcoin a ‘safe haven asset,’ more attractive than gold. According to Adam Back, Bitcoin, currently trading at $33,791, should have been priced at over $100,000 based on its intrinsic fundamentals. $116,000,000 gains missed by US Government by selling Bitcoin trove in March. Economist and crypto trader Alex Krüger believes that Bitcoin is “preordained” to hit $42,000 due to the Spot Bitcoin ETF.(2) Morgan Creek Digital Assets Co-Founder Anthony Pompliano: Bitcoin Is the ‘Most Disciplined Central Bank in the World.’ Bitcoin winning as Gold ETF holdings shrink: Michael McGlone. Matrixport doubles down on $45K Bitcoin year-end prediction.
Ethereum set for huge rally as whale activity hits 6-month high. A typical day for David Theodore, a security researcher at the Ethereum Foundation, often starts with him checking to see if there were any crashes on Ethereum, the world’s largest smart-contracts blockchain.
Crypto withdrawals on Binance are temporarily unavailable due to a "technical issue," according to a post on the exchange's X account.
Two U.S. senators from opposite sides of the aisle Sens. Thom Tillis (R-NC) and John Hickenlooper (D-CO) have introduced a bill that they say will establish safeguards against another FTX-type collapse. Coinbase says SEC is out of bounds in latest brief of ongoing lawsuit.
An entity linked to the defunct Abraxas darknet market has moved about 4,800 Bitcoin (BTC) worth $144 million to a Bitcoin mixer.
WATCH
LISTEN
Podcasts of the Day:
- Bitcoin Up 100% in 2023, Hits Pre-Luna Crash Prices | The Breakdown
- BTC153: Bitcoin's Taproot Asset Protocol w/ Ryan Gentry | Bitcoin Fundamentals
- Why a Spot Bitcoin ETF Will Probably Launch No Later Than January 10 | Unchained
