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Grayscale Bitcoin Mini Trust (BTC) is solely and passively invested in Bitcoin. Its investment objective is to reflect the value of Bitcoin held by the Trust, less expenses and other liabilities.

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Cathie Wood, la fundadora de Ark Investment Management LLC, predice un repunte de fusiones y adquisiciones tras la victoria del presidente electo de Estados Unidos Donald Trump en las elecciones de 2024.

Cathie Wood: Bitcoin se vuelve más escaso que el oro y subirá en los próximos años

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El analista Caue Oliveira ha señalado que el aumento en la emisión de Tether (CRYPTO: USDT) podría beneficiar a Bitcoin (CRYPTO: BTC) en cualquier momento.

Tether impulsa la liquidez en criptomonedas y podría afectar a Bitcoin pronto

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Cathie Wood, the founder of Ark Investment Management LLC, predicts a surge in mergers and acquisitions after President-elect Donald Trump defeats Vice President Kamala Harris in the 2024 election.
What Happened: &#8220;M&amp;A has been prevented by the FTC. That is going to change,&#8221; Wood, popularly known for leading ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) <a href="https://www.youtube.com/watch?v=zd-ZoXq5R3w">said</a> in an interview with Bloomberg Television on Thursday.
The seasoned investor continues to maintain her optimistic view on cryptocurrencies, projecting that Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) may hit $1.5 million by 2030. Wood highlighted how Bitcoin is becoming &#8220;more scarce than gold,&#8221; pointing out that after the April halving, its annual supply increase has decreased to 0.9%. 
According to Wood, production rises in tandem with the price of gold. Bitcoin prevents that from occurring.
Her remarks come as Bitcoin has gained 120% this year and is now trading above $100,000. Wood highlights Bitcoin&#8217;s fixed supply cap of 21 million coins and credits the surge to increased institutional interest and regulatory certainty.
See Also: <a href="https://www.benzinga.com/news/24/12/42608814/elon-musks-doge-role-in-government-set-for-fascinating-tough-fight-says-analyst-walter-isaacson-sees-challenges-for-tesla-ceos-federal-path">Elon Musk&#8217;s DOGE Role In Government Set For &#8216;Fascinating Tough Fight,&#8217; Says Analyst — Walter Isaacson Sees Challenges For Tesla CEO&#8217;s Federal Path</a>
The emergence of Bitcoin ETFs has significantly increased retail investor interest, with prominent offerings such as iShares Bitcoin Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>), Grayscale Bitcoin Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#NYSE">GBTC</a>), Fidelity Wise Origin Bitcoin Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FBTC#BATS">FBTC</a>), ARK 21Shares Bitcoin ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKB#BATS">ARKB</a>), Bitwise Bitcoin ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BITB#NYSE">BITB</a>), Grayscale Bitcoin Mini Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTC#NYSE">BTC</a>), ProShares Bitcoin ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BITO#NYSE">BITO</a>), and Volatility Shares Trust 2x Bitcoin Strategy ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BITX#BATS">BITX</a>), providing various options for investors seeking exposure to the cryptocurrency market.
Why It Matters: The Ark Innovation ETF manager, known for her <a href="https://www.benzinga.com/24/12/42608224/cathie-woods-thursday-moves-dumps-buzzing-stocks-tesla-and-palantir">high-conviction bets on disruptive technology</a>, has recently adjusted her fund&#8217;s positions. ARKK sold 14,016 shares of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) at $436.17 and 33,402 shares of Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) at $74.21 on Thursday.
Wood also expressed optimism about broader market participation under Trump&#8217;s presidency. &#8220;The market&#8217;s going to broaden out right now and reward companies who are at the leading edge of innovation,&#8221; she said during a previous CNN appearance, though <a href="https://www.benzinga.com/markets/equities/24/12/42262916/ark-invests-cathie-wood-says-stock-market-will-broaden-out-under-trump-but-growth-wont-be-linear-nothing-goes-up-in-a-straight-line">cautioning that growth wouldn&#8217;t be linear</a>.
Her outlook aligns with Bank of America analysts&#8217; predictions of increased M&amp;A activity, particularly in banking and biotech sectors, under a Republican administration. Analysts note that financial sector deals historically <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41979935/golden-years-for-ma-deals-ahead-under-trump-analysts-highlight-top-10-large-cap-candidates">increased by 50% during Republican presidencies</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/12/42608297/tom-lee-explains-why-fewer-cuts-in-2025-could-boost-the-market-urges-investors-to-buy-the-dip-amid-recent-volatility">Tom Lee Explains Why &#8216;Fewer Cuts In 2025&#8217; Could Boost The Market, Urges Investors To &#8216;Buy The Dip&#8217; Amid Recent Volatility</a></li>
</ul>
Image via Ark Invest

Cathie Wood Says Bitcoin Is 'More Scarce Than Gold' — Predicts M&A Surge Under Trump 2.0

The cryptocurrency market cracked further Thursday as risk sentiment remained low following the Federal Reserve&#8217;s hawkish statements.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-3.30%</td>
<td>$97,251.29</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-6.08%</td>
<td>$3,425.34</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-12.28%</td>
<td>$0.3159</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin rallied to $102,000 in the early hours but gave up gains as the day progressed, dipping below $96,000 for the first time in over a month.
Similarly, Ethereum lifted above $3,700 only to crash below $3,400 by late afternoon. The world's second-largest cryptocurrency was down over 11% over the week.
Over $1 billion was liquidated from the cryptocurrency market in the last 24 hours, with long liquidations accounting for $860 million.&nbsp;
Bitcoin's Open Interest plunged 4.24% in the last 24 hours, alongside a drop in spot price. That said, the percentage of Binance traders taking long positions for the cryptocurrency rose sharply to 61%, against 38% betting against the asset, according to the Long/Short Ratio.
The "Greed" sentiment weakened in the market, according to the Cryptocurrency Fear &amp; Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Movement (MOVE)</td>
<td>+21.14%</td>
<td>$0.7626</td>
</tr>
<tr>
<td>Bitget Token (BGB)</td>
<td>+6.55%</td>
<td>$4.46</td>
</tr>
<tr>
<td>Mantle (MNT)</td>
<td>+6.50%</td>
<td>$1.17</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.33 trillion, following a contraction of 4.91% in the last 24 hours.
The Dow Jones Industrial Average snapped out of its 10-day losing streak Thursday but only just, gaining 0.04%, to close at 42,342.24. The S&amp;P 500 slipped 0.09% to end at 5,867.08, while the tech-heavy Nasdaq Composite dropped 0.10% to 19,372.77.
These moves come a day after the stock market got hammered <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42563299/feds-powell-shocks-markets-its-a-new-phase-were-significantly-closer-to-neutral">after the Federal Reserve signaled a hawkish outlook</a>, with fewer rate reductions in 2025 than expected.
The benchmark 10-year Treasury yields increased to 4.55%, the highest since May 30.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely followed cryptocurrency analyst and trader Ali Martinez commented on Bitcoin's latest moves, stating that if the apex cryptocurrency loses $96,000 as support, it could dip further to $90,000 and $85,000.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Keeping it simple, just based on the Fib, if <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> loses $96,000, the next point of focus becomes $90,000 and $85,000. <a href="https://t.co/yJ1Hq2PNe2">pic.twitter.com/yJ1Hq2PNe2</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1869851163061039116?ref_src=twsrc%5Etfw">December 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Rekt Capital, another influential analyst, stated that if Bitcoin goes below the weekly support level of around $97,800, the 5-week uptrend will be reversed and the coin will enter a corrective phase.
"If this blue weekly support region fails and so does the 5-week uptrend (orange)&#8230; then BTC will probably transition into a correction."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> The Bearish Engulfing Candle persists And the Weekly level at $101.2k is struggling to hold as support If this blue Weekly support region fails and so does the 5-week uptrend (orange)&#8230; Then BTC will probably transition into a correction<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/KnIptVe958">https://t.co/KnIptVe958</a> <a href="https://t.co/7oYdQ5v2r6">pic.twitter.com/7oYdQ5v2r6</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1869808384574402864?ref_src=twsrc%5Etfw">December 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42601193/senator-lummis-introduces-strategic-bitcoin-reserve-proposal">Senator Lummis Introduces Strategic Bitcoin Reserve Proposal</a></li>
</ul>

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$ETH

Bitcoin, Ethereum, Dogecoin Retreat Further As Crypto Liquidations Top $1 Billion: Analyst Lays Out Scenario For BTC Losing $96K Support

Exodus Movement Inc. (NYSEAMERICAN: EXOD) commenced trading on the NYSE American exchange Wednesday, becoming the latest publicly traded company on Wall Street with cryptocurrency as the core business.
What happened: The shares of the self-custodial wallet provider closed 37% higher at $53.50 after getting listed on NYSE American, the sibling exchange to the New York Stock Exchange.
Owned by the New York Stock Exchange, NYSE American specializes in small- and mid-cap equities.
The company, which previously traded on over-the-counter markets, got approval to list its common stock last week.
See Also:<a href="https://www.benzinga.com/24/12/42519107/if-you-invested-1000-in-bitcoin-when-the-first-bitcoin-etf-was-filed-heres-how-much-youd-have-today"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42560698/microstrategys-aggressive-bitcoin-strategy-raises-eyebrows-in-crypto-community">MicroStrategy&#8217;s Aggressive Bitcoin Strategy Raises Eyebrows In Crypto Community</a>
Why It Matters: Founded in 2015, Exodus is one of the oldest providers of non-custodial cryptocurrency wallets, supporting top coins like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>).
With its debut, it joined the niche list of Wall Street companies that primarily deal in cryptocurrencies, <a href="https://www.benzinga.com/24/12/42545624/cathie-woods-ark-dumps-coinbase-stock-amid-bitcoin-highs-shopify-holdings-also-cut">including </a>Coinbase, the largest cryptocurrency exchange in the U.S., and <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42453467/japanese-crypto-behemoth-coincheck-enters-wall-street-with-nasdaq-listing">Japan&#8217;s cryptocurrency behemoth</a> Coincheck.
An exchange listing, especially in the U.S., exposes a company to a broader spectrum of institutional and retail investors, thereby increasing its liquidity and visibility.
Photo Courtesy: Maor_Winetrob On Shutterstock.com
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42545656/bitcoin-is-no-manhattan-real-estate-peter-schiff-challenges-microstrategys-micheal-saylor-btc-doesnt-generate-any-income">Bitcoin Is No Manhattan Real Estate, Peter Schiff Challenges MicroStrategy&#8217;s Michael Saylor: &#8216;BTC Doesn&#8217;t Generate Any Income&#8217;</a></li>
</ul>

EXOD

Crypto Wallet Provider Exodus Makes Wall Street Debut, Shares Pop 37%

Leading cryptocurrencies tanked Wednesday after the Federal Reserve's <a href="https://www.youtube.com/watch?v=ReqGMYHAbP0">hawkish outlook</a> and the central bank&#8217;s statement that it has no interest in owning Bitcoin.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-4.94%</td>
<td>$100,644.84</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-5.81%</td>
<td>$3,648.03</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-8.26%</td>
<td>$0.3603</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin plunged sharply through the day but managed to stay above the psychologically crucial $100,000 mark.
Ethereum's descent was steeper, as the second-largest cryptocurrency retreated to the $3,600 region following a near 6% drop.
The slump triggered over $675 million in cryptocurrency liquidations in the last 24 hours, with long liquidations hitting $578 million.
The decline came following Fed Chair Jerome Powell's comments during the press conference following the Federal Open Market Committee meeting, where he disclosed that the central bank can't hold Bitcoin and it wasn't looking for a law change.
Bitcoin's Open Interest dropped 1.1%, however, the number of traders taking long positions for the coin surged above 50%, indicating expectations of a revival.
Over $1 billion in short positions risked liquidation if Bitcoin recovers to $105,900.
Market sentiment cooled from "Extreme Greed" to "Greed," according to the Cryptocurrency Fear &amp; Greed Index, signaling a decline in FOMO.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Pudgy Penguins (PENGU)</td>
<td>+21.82%</td>
<td>$0.03574</td>
</tr>
<tr>
<td>Bitget Token (BGB)</td>
<td>+7.95%</td>
<td>$4.24</td>
</tr>
<tr>
<td>Monero (XMR)</td>
<td>+0.87%</td>
<td>$214.23</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.51 trillion, dropping over 5% in the last 24 hours.
Stocks got pounded on Wednesday. The Dow Jones Industrial Average plunged 1,123.03 points, or 2.58%, to close at 42,326.87 as the index posted its 10th consecutive losing day. The S&amp;P 500 slipped 2.95%, ending at 5,872.16, while the tech-focused Nasdaq Composite dipped 3.56% to 19,392.69.
The market suffered <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42563299/feds-powell-shocks-markets-its-a-new-phase-were-significantly-closer-to-neutral">despite the Fed's latest 25-basis-point reduction</a> as Chair Powell hinted at a more cautious stance in 2025, with just two more 0.25% rate cuts projected next year, compared to the four anticipated in September.
The benchmark 10-year Treasury yields leaped to 4.5%, the highest since early June, as risk sentiment evaporated.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely followed cryptocurrency analyst and trader Ali Martinez weighed in on the central bank's policy shift, stating that 2025 looks a "lot less rosy."
"For now, keep calm, don't panic sell, and remember: markets hate uncertainty, but they also thrive on it when the dust settles. Let's see where this goes from here," Martinez advised traders.
In his analysis of the Federal Reserve action, Ali said, &#8220;It wasn't today's 25 bps cut that made markets freak out—it was the realization that inflation might stick around longer, and the Fed's not quite ready to take its foot off the gas. Sentiment is shifting, and 2025 suddenly looks a lot less rosy.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">What's the deal with today's market chaos? The Fed went ahead with a predictable 25 bps rate cut. No surprises there—97% of people expected it. But then, Bitcoin tanked around $100,000. Why? Let me explain without the usual Fed jargon. ————————- This is a glimpse of the premium… <a href="https://t.co/wANPW4t2uV">pic.twitter.com/wANPW4t2uV</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1869520970832138261?ref_src=twsrc%5Etfw">December 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another well-known analyst, Rekt Capital, noted Bitcoin's daily close above $100,000 but cautioned that it wasn't enough.
&#8220;However, for BTC to move up from here, it would need to reclaim ~$101,000 as support, much like it did on Dec. 14. Otherwise, $101,000 could turn into new resistance, which could mean the downside isn&#8217;t over," the analyst stated.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Ultimately, BTC has Daily Closed above $100k However for BTC to move up from here, it would need to reclaim ~$101k (red) as support, much like it did on December 14th Otherwise, $101k could turn into new resistance which could mean the downside isn&#39;t over<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a>… <a href="https://t.co/964IqYsdpo">https://t.co/964IqYsdpo</a> <a href="https://t.co/mxhL04PnsH">pic.twitter.com/mxhL04PnsH</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1869542342266683693?ref_src=twsrc%5Etfw">December 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42560698/microstrategys-aggressive-bitcoin-strategy-raises-eyebrows-in-crypto-community">MicroStrategy&#8217;s Aggressive Bitcoin Strategy Raises Eyebrows In Crypto Community</a></li>
</ul>

Bitcoin, Ethereum, Dogecoin Fall After Fed Shows No Interest For Piling BTC: Top Analyst Says Sentiment Shifting — '2025 Suddenly Looks A Lot Less Rosy'

Leading cryptocurrencies stayed muted on Tuesday ahead of the Federal Reserve's last policy decision of 2024.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-0.18%</td>
<td>$105,942.00</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-2.29%</td>
<td>$3,873.95</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-1.68%</td>
<td>$0.3916</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin made a new all-time high of $108,000 in early trading hours before falling sharply to $105,000 shortly thereafter. Volatility persisted throughout the day, with the leading coin bouncing around and below $107,000.
Ethereum's decline was steeper, as it dropped below $4,000 to a low of $3,800.
The total cryptocurrency liquidations surpassed $316 million in the last 24 hours, with long liquidations accounting for an overwhelming share.
Bitcoin's Open Interest rose despite the price weakness, suggesting the opening of new short positions. Nearly 60% of Binance futures traders were betting against Bitcoin, according to the Long/Short Ratio.
Market sentiment remained in the "Extreme Greed" region, per the Cryptocurrency Fear &amp; Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Pudgy Penguins (PENGU)</td>
<td>+487.34%</td>
<td>$0.02936</td>
</tr>
<tr>
<td>Bitget Token (BGB)</td>
<td>+12.58%</td>
<td>$3.90</td>
</tr>
<tr>
<td>Cronos (CRO)</td>
<td>+11.16%</td>
<td>$0.1941</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.78 trillion, following an increase of 2.43% over the last 24 hours.
Major stock indexes closed in the red on Tuesday. The Dow Jones Industrial Average fell for the ninth consecutive day, dropping 267.58 points, or 0.61%, to close at 43,449.90. The S&amp;P 500 lost 0.39%, ending at 6,050.61, while the tech-heavy Nasdaq Composite reversed from its record highs, falling 0.32% to 20,109.06.
Investors are now preparing for the final monetary policy decision on Wednesday. The Fed is widely expected to enact a 0.25% cut, with traders pricing in a 97% possibility of such a scenario, as per the <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME FedWatch</a> tool.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely followed cryptocurrency analyst Rekt Capital said that this was only the start of Bitcoin's parabolic phase, drawing parallels with historical price action.
"Historically, this phase has lasted on average ~300 days Bitcoin is only on day 41 of its parabolic phase," the analyst stated.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> has only just begun its Parabolic Phase in the cycle Historically, this phase has lasted on average ~300 days Bitcoin is only on Day 41 of its Parabolic Phase<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1869042931518374304?ref_src=twsrc%5Etfw">December 17, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Cryptocurrency influencer Quinten Francois said that the Bitcoin cycle was being pushed by institutional investors and not retail.
"BTC is knocking at its ATH while there is no hype or euphoria. Why? Retail is in alts,&#8221; Francois added.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> is knocking at its ATH while there is no hype or euphoria Why? Retail is in alts This <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> cycle isn't pushed by retail It's the institutional cycle
&mdash; Quinten &#x7C; 048.eth (@QuintenFrancois) <a href="https://twitter.com/QuintenFrancois/status/1868920066097697080?ref_src=twsrc%5Etfw">December 17, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Data fetched from Google Trends also <a href="https://trends.google.com/trends/explore?geo=US&amp;q=bitcoin&amp;hl=en">showed </a>that search interest for Bitcoin has dwindled sharply from its peak just after Donald Trump's win last month.
Photo by Avi Rozen on Shutterstock
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42535718/raoul-pal-predicts-violent-upside-for-bitcoin-targets-250000">Raoul Pal Predicts &#8216;Violent Upside&#8217; For Bitcoin, Targets $250,000</a></li>
</ul>

Bitcoin, Ethereum, Dogecoin Stay Muted Before Fed's Interest Rate Decision: Analyst Says BTC In Parabolic Phase, Reveals Its Duration

CoinShares CEO Jean-Marie Mognetti expressed confidence regarding the future of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) ETFs and other cryptocurrencies such as Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) under the incoming administration of President-elect Donald Trump.
What Happened: Mognetti highlighted the substantial inflows into U.S. Bitcoin ETFs following the election. He noted that the Bitcoin ETF sector has witnessed 12 consecutive weeks of net inflows, a trend unseen since 2021. Mognetti anticipates that the new administration will maintain a positive stance towards cryptocurrency, potentially benefiting Ethereum and other digital coins, CNBC <a href="https://www.cnbc.com/video/2024/12/17/coinshares-ceo-on-the-expectations-crypto-will-continue-to-thrive-under-president-elect-trump.html">reported</a> on Tuesday. 
&#8220;The Trump administration coming up in January or February is nourishing a lot of hope,&#8221; Mognetti said.
See Also: <a href="https://www.benzinga.com/24/12/42495782/crypto-market-predicted-to-surge-to-all-time-highs-by-late-2025-but-a-30-drop-in-bitcoin-prices-could-come-first?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Crypto Market Predicted To Surge To All-Time Highs By Late 2025, But A 30% Drop In Bitcoin Prices Could Come First</a>
Mognetti also pointed out that the U.S. market has been lacking in crypto products since 2014, when the first application was submitted. The SEC has been cautious in approving new products, but Mognetti believes this is changing, allowing more issuers to properly introduce coins. As the market evolves, he expects increased investment demand for cryptocurrencies, driven by greater market education and regulatory support. 
Why It Matters: The optimism from Mognetti aligns with recent statements from Michael Saylor, co-founder of MicroStrategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), who emphasized the<a href="https://www.benzinga.com/24/12/42522606/trump-is-serious-about-creating-a-bitcoin-reserve-says-microstrategys-michael-saylorurges-to-buy-btc-before-it-goes-up-by-100x"> incoming Trump administration&#8217;s seriousness</a> about establishing a U.S. strategic Bitcoin reserve. Saylor urged investors to &#8220;buy it now and own the future,&#8221; suggesting that capital will flow into digital assets and the Bitcoin network.
Furthermore, President-elect Trump has pledged to <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42480856/donald-trump-pledges-to-do-something-great-with-crypto-heres-what-hes-done-so-far">&#8220;do something great with crypto,&#8221;</a> indicating a significant shift in U.S. policy on digital assets. Trump emphasized the need for the U.S. to stay ahead of global competitors, particularly China, in embracing cryptocurrency. This potential policy shift could lead to increased regulatory support and market education, fostering a more favorable environment for cryptocurrencies like Bitcoin and Ethereum. 
Price Action: According to <a href="https://pro.benzinga.com">Benzinga Pro</a> data, at 8:42 am ET, Bitcoin was up at $1,07,469.30 while Ethereum was trading at $4,008.83. Meanwhile, Bitcoin based ETFs were also seeing an upward movement. Bitwise Bitcoin ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BITB#NYSE">BITB</a>) was up by 1.56%, iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) was up by 1.66% and Grayscale Bitcoin Trust (Btc) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#NYSE">GBTC</a>) was trading 1.40% higher.
Read Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/12/42496852/benzinga-bulls-and-bears-tesla-nvidia-microstrategy-dollar-tree-and-dogecoin-prediction-of-18-in-wild-scenario?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla, Nvidia, MicroStrategy, Dollar Tree, And Dogecoin Prediction Of $18 In &#8216;Wild&#8217; Scenario: Benzinga Bulls</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo via Shutterstock

ETFs

General

$SOL

MSTR

CoinShares CEO Optimistic About Bitcoin ETFs, Ethereum Under Trump

The stark contrast between traditional real estate investments and cryptocurrency markets has come into sharp focus as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) crossed the $100,000 mark, while New York City&#8217;s real estate market maintains steady but modest growth, according to recent market data.
What Happened: New York City&#8217;s median home prices reached $785,000 in early 2024, showing a measured recovery from the slight dip to $764,000 in 2023, according to StreetEasy data cited by the NYC Comptroller&#8217;s office. 
The city&#8217;s real estate appreciation has been notably conservative, with prices rising approximately 16% since the pre-pandemic period, significantly lower than the national average of 42%.
DoorLoop, a rental property management software company, reports that NYC real estate maintains an annual average appreciation rate of 6%, representing a stable but modest return for traditional investors.
Meanwhile, Bitcoin&#8217;s price trajectory tells a dramatically different story, currently trading at $106,522. The cryptocurrency&#8217;s historical performance has been marked by extreme volatility, with annual returns ranging from gains of 1,369% in 2017 to losses of 73% in 2018.
In May, Michael Saylor, Executive Chairman of MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), drew an intriguing parallel between the two assets in an interview with Yahoo Finance. 
&#8220;New York City is the endgame for people that want to live in the greatest city in North America. Bitcoin is the endgame for anybody that wants to own the greatest property in the 21st century,&#8221; Saylor stated, referring to Bitcoin as &#8220;the apex property of the human race.&#8221;
Bitcoin&#8217;s journey since 2009 has been remarkable, with its price soaring from just $0.0009 per coin in the first transaction to approximately $106,000 in 2024, reflecting a compound annual growth rate of 244.32% over 15 years.
Early on, Bitcoin&#8217;s price remained under $1 until 2011, when it reached $0.2972, and surged to $946.48 by 2013. Despite extreme volatility, such as the 1,369% surge in 2017 and a 73.48% drop in 2018, Bitcoin has shown resilience and strong long-term growth. As of 2024, year-to-date gains stand at 141.48%, highlighting its continued dominance in the market.
See Also: <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42522084/bitcoin-ethereum-dogecoin-settle-down-amid-growing-talks-of-a-strategic-btc-reserve-top-analyst-sees-prospect-of-apex-crypto-hitting-110k-this-week">Bitcoin, Ethereum, Dogecoin Settle Down Amid Growing Talks Of A Strategic BTC Reserve: Top Analyst Sees Prospect Of Apex Crypto Hitting $110K This Week</a>
Eric Trump, Executive Vice President of the Trump Organization and son of President-elect Donald Trump, shared his perspective at the Bitcoin MENA 2024 Conference during an interview <a href="https://x.com/BitcoinMagazine/status/1866568436115239400?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1866568436115239400%7Ctwgr%5E4141364f2fb9a63b995234a19a19603559d4e270%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Fbitcoinmagazine.com%2Fmarkets%2Feric-trump-states-bitcoin-is-the-ultimate-hedge-for-real-estate-investors">with</a> Bitcoin Magazine. Despite his background in real estate, Trump acknowledged cryptocurrency&#8217;s advantages over physical assets, particularly noting real estate&#8217;s illiquidity and higher transaction costs.
The investment comparison highlights key <a href="https://www.benzinga.com/markets/24/11/42073064/why-real-estate-might-outshine-gold-and-bitcoin-as-a-long-term-investment">differences in accessibility and costs</a>. Real estate purchases involve fees including taxes, realtor commissions, and property improvements, while Bitcoin transactions typically require minimal fees for purchase and transfer to self-custody.
For investors weighing their options, the choice between NYC real estate and Bitcoin represents a fundamental decision between steady, traditional appreciation and the potential for <a href="https://www.benzinga.com/24/12/42519107/if-you-invested-1000-in-bitcoin-when-the-first-bitcoin-etf-was-filed-heres-how-much-youd-have-today">dramatic gains coupled with significant risk</a>. 
The emergence of Bitcoin ETFs has significantly increased retail investor interest, with prominent offerings such as iShares Bitcoin Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>), Grayscale Bitcoin Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#NYSE">GBTC</a>), Fidelity Wise Origin Bitcoin Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FBTC#BATS">FBTC</a>), ARK 21Shares Bitcoin ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKB#BATS">ARKB</a>), Bitwise Bitcoin ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BITB#NYSE">BITB</a>), Grayscale Bitcoin Mini Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTC#NYSE">BTC</a>), ProShares Bitcoin ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BITO#NYSE">BITO</a>), and Volatility Shares Trust 2x Bitcoin Strategy ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BITX#BATS">BITX</a>), providing various options for investors seeking exposure to the cryptocurrency market.
Read Next: 
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42488357/homebuilders-2025-outlook-more-cautious-less-constructive-analyst-says">Homebuilders 2025 Outlook: &#8216;More Cautious, Less Constructive,&#8217; Analyst Says</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Real Estate

Michael Saylor Compared Bitcoin To New York Real Estate: Where Are Investors Winning The 'Endgame?'

Leading cryptocurrencies simmered down Monday after a smashing rally even as speculations around a U.S. strategic Bitcoin reserve gathered steam.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-0.10%</td>
<td>$106,072.58</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-0.69%</td>
<td>$3,966.41</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-1.74%</td>
<td>$0.4009</td>
</tr>
</tbody>
</table>
</figure>
What Happened: The world&#8217;s largest cryptocurrency broke beyond $107,000 for the first time this afternoon before profit-taking brought it back to $105,000, with a modest increase to $106,000 by evening.
The sentiment was upbeat following reports that President-elect Donald Trump <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42505162/trump-reportedly-considering-executive-order-to-establish-strategic-bitcoin-reserve">might pass an executive order</a> to create a national Bitcoin stockpile.
Bitcoin was already up 9.11% in December, higher than the historical <a href="https://www.coinglass.com/today">average </a>of 5.75%, per Coinglass data.
A similar pattern followed for Ethereum, which failed to decisively break over $4,000 and fell to the upper $3,900 range.
In the past 24 hours, 119,098 traders were liquidated, with the total liquidations at $371.44 million. Longs accounted for 60% of the liquidations.
Over 61% of traders on Binance with open Bitcoin futures positions were short, as per the Long/Short Ratio, suggesting expectations of a pullback.
A rally to $110,000 would wipe out over $500 million worth of short positions, data showed.&nbsp;
The bearish positioning could be due to the "Extreme Greed" sentiment in the market, per the Cryptocurrency Fear &amp; Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitget Token (BGB)</td>
<td>+10.80%</td>
<td>$3.44</td>
</tr>
<tr>
<td>Virtuals Protocol (VIRTUAL)</td>
<td>+10.07%</td>
<td>$2.98</td>
</tr>
<tr>
<td>THORChain (RUNE)</td>
<td>+7.63%</td>
<td>$6.95</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.71 trillion, following a marginal increase of 0.11% over the last 24 hours.
Stocks were a mixed bag on Monday. The Dow Jones Industrial Average fell for the eighth consecutive day, dropping 110.58 points, or 0.25%, to close at 43,717.48. The S&amp;P 500 rose 0.38% to 6,074.08, while the Nasdaq Composite surged 1.24% to close at a record high of 20,173.89.
The tech surge was powered by the "Mag 7" stocks, as Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) notched their all-time highs during the session.
The rally came just ahead of the Federal Open Market Committee's two-day meeting to decide on the <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42514008/fed-poised-to-cut-interest-rates-by-0-25-this-week-heres-why-your-focus-should-shift-to-other-signals">benchmark interest rates</a>. Market participants have priced in a 95% chance of a 25 basis point cut from the current target range of 450-475, according to the CME FedWatch tool.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Well-known cryptocurrency analyst Ali Martinez sent a cautionary note to investors amid Bitcoin's upsurge.
"I'm holding tight to my HODL bag, but my trading account is 30% cash as market sentiment around Bitcoin hits &#8216;extreme greed&#8217;—a cautionary red flag," the analyst remarked.&nbsp;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I'm holding tight to my HODL bag, but my trading account is 30% cash as market sentiment around <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> hits &#39;extreme greed&#39;—a cautionary red flag. Some altcoins are retracing and triggering my buy orders, but I'm aiming to keep at least 20% cash on hand for flexibility. <a href="https://t.co/915IUEqnC4">pic.twitter.com/915IUEqnC4</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1868654253742620723?ref_src=twsrc%5Etfw">December 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another widely followed analyst, Michaël van de Poppe, foresaw a "ton of volatility" in the market due to the upcoming Fed meeting.
"I won&#8217;t be surprised we&#8217;ll see $110,000 and $95,000 in the same week," Van de Poppe made his predictions.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">New all-time high for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> and a liquidity sweep for <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>. FED Meeting around the corner, which is likely going to bring a ton of volatility into the markets. I won&#39;t be surprised we&#39;ll see $110K and $95K in the same week.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1868737314366816596?ref_src=twsrc%5Etfw">December 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Image via Shutterstock
Read Next:    
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<li><a href="https://www.benzinga.com/personal-finance/financial-advisors/24/12/42517262/most-crypto-foward-ria-slams-bitcoin-forecasts-from-michael-saylor-others-disvalues-it-to-me">&#8216;Most Crypto-Foward&#8217; RIA Slams Bitcoin Forecasts From Michael Saylor, Others: &#8216;Disvalues It To Me&#8217;</a></li>
</ul>

AAPL

Bitcoin, Ethereum, Dogecoin Settle Down Amid Growing Talks Of A Strategic BTC Reserve: Top Analyst Sees Prospect Of Apex Crypto Hitting $110K This Week

The Securities and Exchange Commission approved spot Bitcoin ETFs in January 2024, which was a groundbreaking move at the time. The Bitcoin ETFs continue to see huge inflows months<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42393396/record-week-bitcoin-etfs-net-25-billion-in-inflows-ethereum-etfs-took-in-12-billion"> after their launch.</a>
Here's a look back at the multi-year battle to get Bitcoin ETFs approved and how much investors could have made buying Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) when the first ETF was filed.
What Happened: Investors celebrated <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36514679/wall-street-enters-the-crypto-age-sec-issues-historic-approval-of-spot-bitcoin-etfs" target="_blank" rel="noopener">the approval of </a>Bitcoin ETFs earlier this year, with the SEC approving the first applications for many ETFs.
The approval opened the door for more investors, including institutional investors and retirement accounts, to get exposure to the leading cryptocurrency through the launched ETFs.
Months after launch, Bitcoin ETFs are seeing strong inflows, which could be thanks in part to new optimism for the cryptocurrency sector after the 2024 election. Bitcoin hit new all-time highs<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41778425/bitcoins-all-time-high-a-groundbreaking-milestone-and-strong-post-election-rally-coming-ex"> after the 2024 election</a> and recently surpassed the $100,000 milestone<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42336184/exclusive-bitcoin-crossing-100000-is-a-defining-moment-experts-say"> for the first time.</a>
Last week, Bitcoin ETFs saw net inflows of $2.5 billion, bringing the year-to-date total to more than $36 billion.
Here's a look at the top Bitcoin ETFs today by assets under management, as reported by <a href="https://etfdb.com/themes/bitcoin-etfs/">ETFdb</a>.
<ul>
<li>iShares Bitcoin Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>): $53.9 billion</li>
<li>Grayscale Bitcoin Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#NYSE">GBTC</a>): $21.5 billion</li>
<li>Fidelity Wise Origin Bitcoin Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FBTC#BATS">FBTC</a>): $21.0 billion</li>
<li>ARK 21Shares Bitcoin ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKB#BATS">ARKB</a>): $4.9 billion</li>
<li>Bitwise Bitcoin ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BITB#NYSE">BITB</a>): $4.1 billion</li>
<li>Grayscale Bitcoin Mini Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTC#NYSE">BTC</a>): $4.0 billion</li>
<li>ProShares Bitcoin ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BITO#NYSE">BITO</a>): $2.6 billion</li>
<li>Volatility Shares Trust 2x Bitcoin Strategy ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BITX#BATS">BITX</a>): $2.0 billion</li>
</ul>
Before the approved Bitcoin ETFs were filed, or the Grayscale Bitcoin Trust was launched in September 2013, there was an S-1 filed for a Bitcoin ETF with the SEC.
On July 1, 2013,&nbsp;Gemini&nbsp;founders&nbsp;Cameron and Tyler Winklevoss&nbsp;filed the Winklevoss Bitcoin Trust as a planned Bitcoin ETF. The Winklevoss twins saw their initial filing and a second attempt rejected in 2018.
Cameron Winklevoss commented on the status of Bitcoin ETFs on the 10-year anniversary of the filing, which happened several months ago, <a href="https://twitter.com/cameron/status/1675302282915610624" target="_blank" rel="noreferrer noopener">saying</a>: "The SEC&#8217;s refusal to approve these products for a decade has been a complete and utter disaster for U.S. investors and demonstrates how the SEC is a failed regulator."
Winklevoss accused the SEC of helping to push investors into&nbsp;FTX, which&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/22/11/29681030/ftx-files-for-chapter-11-bankruptcy" target="_blank" rel="noreferrer noopener">eventually went bankrupt</a>&nbsp;and was &#8220;one of the largest financial frauds in modern history.&#8221;
The Gemini co-founder wished luck to all the companies fighting to bring Bitcoin ETFs to market.
In January, ahead of the Bitcoin ETFs' approval, Cameron Winklevoss took to Twitter to share the optimism of Bitcoin ETFs.
&#8220;Today is 3,845 days in the making. Happy Bitcoin ETF Approval Day!&#8221; Winklevoss&nbsp;<a href="https://twitter.com/cameron/status/1745122379594871057" target="_blank" rel="noreferrer noopener">tweeted</a>.
Here&#8217;s a look back at investing in Bitcoin when the Winklevoss brothers filed for the first ETF launch.
Read Also: <a href="https://www.benzinga.com/general/education/24/12/42345466/if-you-invested-1000-in-bitcoin-when-peter-schiff-said-btc-would-never-hit-100k-heres-how-much-youd-have-now">If You Invested $1,000 In Bitcoin When Peter Schiff Said BTC Would Never Hit $100K, Here&#8217;s How Much You&#8217;d Have Now</a>
Investing $1,000 in BTC: Bitcoin hit all-time highs of nearly $69,000 in November 2021 before breaking out to new highs this year, and has traded above $10,000 for many years. It may be surprising to some that Bitcoin traded below $100 during parts of 2012 and that year marked the first time the leading cryptocurrency hit the $1,000 level.
On July 1, 2013, Bitcoin traded for around $90.80. A $1,000 investment in Bitcoin could have purchased 11.0132 BTC at the time.
Based on a price of $106,478.56 at the time of publication, the $1,000 investment would be worth $1,172,669.68 today. This represents a hypothetical return of over 117,000% over the last 11 years.
Over the past decade, Bitcoin has delivered stronger returns than leading stocks and has outpaced the overall stock market.
For Comparison
<ul>
<li>A $1,000 investment in the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the S&amp;P 500, would be worth $3,736.80 today. This represents a gain of 273.7% over the last 11 years.</li>
<li>A $1,000 investment in&nbsp;Tesla Inc&nbsp;over the same time period would be worth $58,480.93 today. This represents a hypothetical return of 5,748.1% over the last 11 years.</li>
<li>A $1,000 investment in&nbsp;Apple Inc&nbsp;over the same time period would be worth $17,035.49 today. This represents a hypothetical return of 1,603.5% over the last 11 years.</li>
</ul>
While Bitcoin may not beat the market and leading stocks by the same amounts over the next decade, there is increased optimism that the new White House administration could continue to send the leading cryptocurrency higher.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/12/42399353/heres-how-much-100-in-bitcoin-could-be-worth-in-2030-if-cathie-woods-price-target-is-reached">Here&#8217;s How Much $100 In Bitcoin Could Be Worth In 2030 If Cathie Wood&#8217;s Price Target Is Reached</a></li>
</ul>
This article was previously published by Benzinga and has been updated.
Image created using artificial intelligence via Midjourney.

Education

If You Invested $1,000 In Bitcoin When The First Bitcoin ETF Was Filed, Here's How Much You'd Have Today

"I think that's a ridiculous number."
Tyrone Ross Jr. of 401 Financial didn't mince words when it comes to the hysteria around Bitcoin (CRYTO:BTC) in the lead up to $100,000. What really struck him was some of the price targets thrown around by Microstrategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>)&nbsp; exec Michael Saylor, among others, who floated the idea that the price per Bitcoin at $13 million was within reach for the largest <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42486744/the-top-statistics-of-bitcoins-100000-monumental-milestone">cryptocurrency by market value</a>.&nbsp;
Saylor's predictions were among a plethora floated in recent months. From Wall Street <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42415888/bitcoin-crashing-mundane-reasons-says-bernstein-buy-the-dip">analysts at Bernstein</a> and Ark Invest's<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42334991/as-bitcoin-hits-100k-for-the-first-time-ark-invests-cathie-wood-calls-it-a-much-bigger-idea-than-gold-and-that-it-is-still-is-in-early-innings"> Cathie Wood to SkyBridge Capital's Anthony Scaramucci,</a> who earlier this year called for Bitcoin to reach anywhere from $150,000 to $200,000 in the next 12 months to $1 million within a couple of years.&nbsp;
&#8220;I wish we could all have his conviction," Ross laughed, in reference to Saylor's call for an even more ambitious price point. That surprise is saying something. Ross describes himself as the "most crypto-forward RIA" in the country with a heavy bias towards Blockchain technologies and bitcoin. Ross has advocated for crypto inclusion in clients' portfolios going back nearly 10 years, but still finds this external commentary unsettling &#8211; though in the most positive way.&nbsp;
"I&#8217;m not in it for $100,000, I'm not in for $13 million. If bitcoin reached $13 million I'd be disappointed," Ross told Benzinga's Chief Content Officer Brad Olesen in an exclusive interview, implying he&#8217;d expect the price to rise even further over time. "Putting a number" on Bitcoin is "disvaluing it to me," he said. "I would never put a price target on it because it is the &#8216;greatest flashlight and clock&#8217; ever created.&#8221;
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42515773/ethereum-price-soars-past-4000-what-is-going-on-with-eth">Ethereum Price Soars Past $4,000: What Is Going On With ETH?</a>
Tyrone's existential view about what the Blockchain and bitcoin can do for payment rails and "inequities" echoes what more and more voices are starting to relay about what cryptocurrency could represent. 
Fed Chairman&nbsp;Jerome Powell,&nbsp;in his latest public remarks, compared bitcoin to &#8220;digital gold,&#8221; in an indication that it can be more than just electronic 0s and 1s or used exclusively for illicit activity. Gold has utility as an input in electronics, is often cited as a valuable tool to protect against inflation,&nbsp;is considered a safe haven asset, and a way to diversify one's portfolio.&nbsp;
Despite the futility of putting a number on Bitcoin – "price predictions are silly to me," Ross added – it hasn't stopped the cascade of analysts and ETF issuers from providing their views going into 2025. Van Eck put targets on bitcoin, ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) just last week, among a host of other forecasts, including Donald Trump's incoming administration's <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42490266/bitcoin-to-180000-ethereum-over-6000-solana-to-500-vanecks-2025-crypto-predictions">stance on policy in the sector.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42505162/trump-reportedly-considering-executive-order-to-establish-strategic-bitcoin-reserve">Trump Reportedly Considering Executive Order To Establish Strategic Bitcoin Reserve</a></li>
</ul>
Photo courtesy of 401 Financial.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

Equities

Financial Advisors

Exclusives

'Most Crypto-Foward' RIA Slams Bitcoin Forecasts From Michael Saylor, Others: 'Disvalues It To Me'

U.S. stock futures were trading higher on Monday in premarket hours after the tech-heavy <a href="https://www.benzinga.com/24/12/42495649/microstrategy-palantir-axon-added-to-nasdaq-100-super-micro-computer-moderna-illumina-exit-the-index">Nasdaq 100 index</a> extended its relentless climb last week, setting new record highs and nearing the 22,000-point milestone. The futures of all four major indices were trading higher.
The 10-year and two-year Treasury notes yielded 4.38% and 4.23%, respectively. The Federal Reserve&#8217;s upcoming meeting this week is highly anticipated by market observers.
The Federal Open Market Committee is widely expected to announce another interest rate reduction at the conclusion of their meeting on Wednesday. The probability of a further 25 basis point rate cut in December rose to 97.1% versus 61.9% a month ago, according to <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME Group&#8217;s FedWatch tool</a>.
If the Fed cuts rates, it would be the third consecutive cut, bringing the federal funds rate down from its current level of 4.50% to 4.75%. Following the meeting, Chairman Jerome Powell&#8216;s remarks will be closely scrutinized by market participants.
Investors will receive another critical economic data point on Friday with the release of the November personal consumption expenditures (PCE) inflation index. This release follows other inflation indicators that suggest price increases accelerated in November.
Prior to that, GDP revisions on Thursday will reveal whether the economy maintained the previously estimated 2.8% growth rate for the third quarter.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.31%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.20%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.10%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.27%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Monday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was up 0.20% to $605.44 and the Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.32% to $532.25, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Cues From The Last Session
The Nasdaq 100 rally was driven by <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42492966/ai-driven-rally-pushes-tech-stocks-to-records-broadcom-enters-trillion-dollar-club-inflation-data-flashes-warning-signal-this-week-in-the-markets">tech giants and AI optimism</a>. It&#8217;s set to double since the start of 2023, with five of the &#8220;Magnificent Seven&#8221; stocks hitting record highs. Broadcom Inc. joined the $1 trillion market cap club after strong earnings.
The Dow Jones Industrial Average, on the other hand, fell for the seventh consecutive day on Friday and S&amp;P 500 index closed marginally lower.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Dow down 7 days in a row, but only 2.6% off the all-time highs (third least ever). I see 78 7-day losing streaks since 1900 and an avg of 24.7% off ATHs.
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1868406754448691224?ref_src=twsrc%5Etfw">December 15, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Inflation data released during the week raised some red flags. Consumer inflation rose 2.7% year-over-year in November, in line with expectations, but producer inflation jumped to 3% year-over-year, exceeding estimates of 2.6%. This marked the sharpest increase since February 2023, raising concerns about potential cost pass-throughs to consumers.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>0.12%</td>
<td>19,926.72</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.002%</td>
<td>6,051.09</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.20%</td>
<td>43,828.06</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.60%</td>
<td>2,34.90</td>
</tr>
</tbody>
</table>
</figure>
See Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42492966/ai-driven-rally-pushes-tech-stocks-to-records-broadcom-enters-trillion-dollar-club-inflation-data-flashes-warning-signal-this-week-in-the-markets">AI-Driven Rally Pushes Tech Stocks To Records, Broadcom Enters Trillion-Dollar Club, Inflation Data Flashes Warning Signal: This Week In The Markets</a>
Insights From Analysts
Talking about the possibility of a &#8220;Santa Rally,&#8221; by the end of December the chief market strategist at Carson Group, Ryan Detrick shared a chart titled &#8216;Santa Comes Later In December&#8217; showing how the market has picked up after Dec. 16, on an average from 1950 to 2023.
He said, &#8220;Weak breadth, inflation heating up, bears saying they are sorry, etc, have all been listed as reasons for the recent weakness. Or maybe it is perfectly normal for stocks not to do much the first half of December, before an end-of-year rally?&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Weak breadth, inflation heating up, bears saying they are sorry, etc, have all been listed as reasons for the recent weakness. Or maybe it is perfectly normal for stocks not to do much the first half of December, before an end of year rally? Let&#39;s not give up on Santa yet. <a href="https://t.co/xo6mxsq8Yg">pic.twitter.com/xo6mxsq8Yg</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1868396543985762667?ref_src=twsrc%5Etfw">December 15, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
He further made a case for a year-end rally in another X post. He shared a chart that compared high-yield bonds with U.S. Treasury bonds and high-beta stocks with low volatility stocks. &#8220;High yield and high beta are outperforming bonds and low volatility,&#8221; he said.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Nice chart from <a href="https://twitter.com/HumbleStudent?ref_src=twsrc%5Etfw">@HumbleStudent</a> on why a year-end rally is still possible. High yield and high beta are outperforming bonds and low volatility. Risk on signals are still in play (weak breadth and all). <a href="https://t.co/VTVXgmve85">pic.twitter.com/VTVXgmve85</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1868405432550555851?ref_src=twsrc%5Etfw">December 15, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Tom Lee, the managing partner and head of research at Fundstrat Global Advisors, hosted a webinar outlining his 2025 outlook. According to him, the S&amp;P 500 will have a better first half of the year getting up to 7,000, followed by a weaker second half of the year with us ultimately ending at 6,600
&#8220;To us, the downside risks are: DOGE too effective and GDP falls on spending cuts, (if) tariffs are actually implemented and GDP impacted,&#8221; Lee said.
Upcoming Economic Data:
Important data is slated to be released this week that will help investors determine the future course of action.
<ul>
<li>On Monday, the Empire State manufacturing survey data for December will be released at 8:30 a.m., ET.</li>
<li>The S&amp;P flash U.S. services and manufacturing PMI data for December will be released at 9:45 a.m., ET.</li>
<li>On Tuesday, U.S. retail sales data for November will be announced at 8:30 a.m., ET.</li>
<li>The industrial production and capacity utilization data for November will be announced at 9:15 a.m., ET.</li>
<li>The home builder confidence index data will be released for December at 10:00 a.m., ET.</li>
<li>And, lastly, the Federal Open Market Committee meeting will begin on Tuesday.</li>
<li>On Wednesday, housing starts, and building permit data for November will be announced at 8:30 a.m., ET.</li>
<li>The FOMC&#8217;s interest rate decision will be announced at 2:00 p.m., ET, and the Fed Chair Jerome Powell&#8217;s press conference will begin at 2:30 p.m., ET.</li>
<li>Micron Technology, Lennar, General Mills, and Toro will report earnings.</li>
<li>On Thursday, the data for initial jobless claims till Dec. 14, GDP&#8217;s second revision for the third quarter and Philadelphia Fed manufacturing survey data for December will be released at 8:30 a.m., ET.</li>
<li>Existing home sales data and U.S. leading economic indicators for November will be announced at 10:00 a.m., ET.</li>
<li>Accenture, Nike, Cintas, FedEx, and Paychex will report earnings.</li>
<li>On Friday, personal income and spending data along with core and headline PCE index data for November will be released at 8:30 a.m., ET.</li>
<li>Consumer sentiment data for December will be released at 10:00 a.m., ET.</li>
<li>Carnival Corporation and Winnebago Industries will report earnings.</li>
</ul>
Stocks In Focus:
<ul>
<li>MicroStrategy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) advanced 5.26%, Palantir Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) was up 0.78%, and Axon Enterprise Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXON#NASDAQ">AXON</a>) rose by 3.12% in premarket trade as Nasdaq announced on Friday that these stocks will join the Nasdaq 100 index.</li>
</ul>
<ul>
<li>Moderna Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) declined by 0.5%, Super Micro Computer Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) fell by 11.71% and Illumina Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>) dropped by 0.99% in premarket after Nasdaq&#8217;s Friday announcement, booting these stocks off Nasdaq 100 index.</li>
</ul>
<ul>
<li>Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) was up 1.57%, continuing Friday&#8217;s upmove fueled by strong quarterly earnings and upbeat AI-driven guidance for the coming year. Friday&#8217;s rally propelled the chipmaker into the exclusive $1 trillion market-cap club, making it the eighth-largest publicly traded company.</li>
</ul>
<ul>
<li>Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) was 1.07% up after Wedbush&#8217;s Dan Ives hiked its price target citing AI and autonomous opportunity worth $1 trillion.</li>
</ul>
<ul>
<li>Amplitech Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMPG#NASDAQ">AMPG</a>) advanced 4.76% in premarket after it announced the sale of 1,352,500 shares of its common stock at $1.60 per share, totaling to price of $2.2 million.</li>
</ul>
<ul>
<li>Checkpoint Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CKPT#NASDAQ">CKPT</a>) was up 11.44% after the U.S. Food and Drug Administration approved UnloxcyT for the treatment of adults with metastatic cutaneous squamous cell carcinoma.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures were declining in the early New York session by 1.43% to hover around $70.27 per barrel.
The gold spot index rose by 0.08% to $2,677.91 per ounce. The Dollar Index was down 0.09% to 106.912 level.
Asian markets declined on Monday including Australia&#8217;s ASX 200, Hong Kong&#8217;s Hang Seng, China&#8217;s CSI 300, Japan&#8217;s Nikkei 225, India&#8217;s S&amp;P BSE Sensex, and South Korea&#8217;s Kospi Index. Most European markets also fell except Spain&#8217;s IBEX 35.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/24/12/42503379/balaji-srinivasan-contrasts-ais-reputation-as-making-it-easy-to-fake-things-with-cryptos-tamper-proof-technology">Former Coinbase Tech Chief Contrasts AI&#8217;s Reputation As Making It Easy To Fake Things With Crypto&#8217;s Tamper-Proof Technology</a></li>
</ul>
Image Via Shutterstock

Macro Economic Events

Market Summary

Economics

Federal Reserve

Pre-Market Outlook

AMPG

AVGO

AXON

CKPT

ILMN

MRNA

SMCI

US Stocks To Open Higher Ahead Of Fed's Decision This Week: Analyst Says 'Santa Comes Later In December'

Silicon Valley investor Balaji Srinivasan predicted a convergence in prestige between artificial intelligence and cryptocurrencies on Monday, arguing that while one&#8217;s reputation has suffered, that of the other has increased.
What Happened: In an X post, Srinivasan expressed his views on the contrasting origins of AI and cryptocurrency, like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>).
&#8220;AI came out of academic&nbsp;research and big tech, so&nbsp;it started with high prestige.&nbsp;Crypto came from anonymous message&nbsp;boards and internet degens, so&nbsp;it started with low prestige,&#8221; the former technology head of Coinbase said.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">AI came out of academic research and big tech, so it started with high prestige. Crypto came from anonymous message boards and internet degens, so it started with low prestige. But AI makes everything easy to fake and crypto makes it hard again. So prestige may converge.
&mdash; Balaji (@balajis) <a href="https://twitter.com/balajis/status/1868566661936361896?ref_src=twsrc%5Etfw">December 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://www.benzinga.com/24/12/42501037/famed-investor-dennis-gartman-chooses-gold-over-bitcoin-i-prefer-centuries-bet-over-monthly-bet">Wall Street Veteran Dennis Gartman Chooses Gold Over Bitcoin Despite BTC&#8217;s Record-Breaking Bull Run: &#8216;I Prefer Centuries Bet Over Monthly Bet&#8217;</a>
He added that while AI has the potential to create falsities, cryptocurrency brings authenticity back into the picture. &#8220;AI makes everything easy to fake, and crypto makes it&nbsp;hard again,&#8221; Srinivasan argued.
He drew attention to the perceptual difference between the two technologies, with AI seen as something of &#8220;civilizational importance&#8221; whereas cryptocurrencies remain underrated.
Why It Matters: Srinivasan&#8217;s views come amid increasing sophistication in AI technology, which was indeed making it harder for users to identify real content.
A study by&nbsp;Google DeepMind&nbsp;revealed that&nbsp;<a href="https://www.benzinga.com/news/24/06/39471997/google-deepmind-study-reveals-that-deepfakes-of-politicians-and-celebrities-more-common-than-ai-assi" target="_blank" rel="noreferrer noopener">deepfakes of public figures</a>&nbsp;are more common than AI-assisted cyber attacks, indicating a significant misuse.&nbsp;
Adam Mosseri, the Meta Platforms-owned Instagram, <a href="https://www.benzinga.com/24/12/42501178/meta-warns-ai-generated-content-can-be-a-threat-as-instagram-boss-suggests-always-considering-who-it-is-that-is-speaking">underscored the importance</a> of social media platforms providing additional context to help users determine the legitimacy of online material.
On the other hand, blockchain technology is used widely to establish the authenticity of physical items. Under this, a unique NFT is created to represent the entity&#8217;s ownership and validity, and facts about the item are recorded in the NFT&#8217;s metadata.
Items of varying cultural, religious, and historical significance, like a <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39199771/bitcoin-bull-mike-novogratzs-galaxy-digital-tokenizes-9m-antique-stradivarius-violin-into-">300-year-old vintage violin</a> and manuscripts from the <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39406269/vatican-turns-to-nfts-to-preserve-cultural-heritage-set-to-reward-supporting-users-with-so">iconic Vatican Library</a>, have been tokenized and stored on blockchain.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/24/12/42502213/new-crypto-accounting-standards-from-todaywill-it-boost-bitcoins-corporate-adoption">New Crypto Accounting Standards Go Into Effect Today: Will They Boost Bitcoin&#8217;s Corporate Adoption?</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Image Via Shutterstock<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

Former Coinbase Tech Chief Contrasts AI's Reputation As Making It Easy To Fake Things With Crypto's Tamper-Proof Technology

Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) record-breaking run to $106,000 has been considerably boosted by a spurt in whale investor holdings, on-chain data revealed Sunday, although retail continued to control the majority supply.
What Happened:&nbsp;Since the bull rally commenced&nbsp;on Oct. 10, there has&nbsp;been a net increase of&nbsp;1,582 more wallets holding at least 100 BTC, blockchain analysis firm Santiment reported on X. 
The jump, from 16,072 to 17,644, over nine weeks, reflected a gain of nearly 10%. In the same period, Bitcoin rallied by 77%.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f973; Bitcoin has climbed to $106.5K for the first time in its 16+ year history. Since the bull rally began back on October 10th, there has been a net increase of 1,582 more wallets that hold at least 100 BTC, a jump of +9.9% more wallets in the relatively short period of time! <a href="https://t.co/261LfRd776">pic.twitter.com/261LfRd776</a>
&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1868482896886964638?ref_src=twsrc%5Etfw">December 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Additional data from IntoTheBlock <a href="https://app.intotheblock.com/coin/BTC">indicated </a>that large holders owned about 12% of Bitcoin&#8217;s supply. The term &#8220;large holders&#8221; refers to those addresses that hold more than 1% of the supply, also called whales, and those who hold between 0.1% and 1% of the supply.
On the whole, all the whales together accounted for just 1.25% of the total supply. Retail investors, on the other hand, owned 88%.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cohort</td>
<td>Holding Threshold Per Investor</td>
<td>Share Of Total Bitcoin Supply</td>
</tr>
<tr>
<td>Whales</td>
<td>Over 1% BTC</td>
<td>1.25%</td>
</tr>
<tr>
<td>Investors</td>
<td>Between 0.1%-1% BTC</td>
<td>10.42%</td>
</tr>
<tr>
<td>Retail </td>
<td>Less than 0.1% BTC</td>
<td>88.33%</td>
</tr>
</tbody>
</table>
</figure>
In contrast, Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) had far bigger whale share, 43.50%, and 41.74%, respectively.
See Also:&nbsp;<a href="https://www.benzinga.com/24/12/42501037/famed-investor-dennis-gartman-chooses-gold-over-bitcoin-i-prefer-centuries-bet-over-monthly-bet">Wall Street Veteran Dennis Gartman Chooses Gold Over Bitcoin Despite BTC&#8217;s Record-Breaking Bull Run: &#8216;I Prefer Centuries Bet Over Monthly Bet&#8217;</a>
Why It Matters:&nbsp;Typically, high supply concentration points to low decentralization, as few wealthy investors cornering a disproportionate share of supply could result in market manipulation.
If these players hold a large enough portion, they could act maliciously to the expense of retail, potentially selling and crashing an asset&#8217;s price.
However, with Bitcoin&#8217;s whale dominance still at very low levels, such a possibility looked highly unlikely.
The leading digital asset has been on a record-breaking spree over the past month, <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42500721/bitcoin-breaks-106k-ethereum-dogecoin-rally-ahead-of-key-fed-meet-but-top-analyst-triggers-anxiety-with-this-observation">pushing well beyond $100,000</a> to reach unprecedented levels. 
Price Action:&nbsp; At the time of writing, Bitcoin was exchanging hands at $104,990.72, up 2.70% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/movers/24/12/42500884/trump-backed-world-liberty-financials-purchases-trigger-strong-rally-in-these-defi-tokens">Trump-Backed World Liberty Financial&#8217;s Purchases Trigger Strong Rally In These DeFi Tokens</a></li>
</ul>
Photo courtesy: Shutterstock

Bitcoin's Bull Run Gets A Boost From Whale Accumulators, But Retail Still The King In Ownership

Leading cryptocurrencies surged Sunday evening as investors raised risk appetites on strong expectations of another interest rate cut.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+5.04%</td>
<td>$106,370.44</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+3.51%</td>
<td>$3,992.72</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+2.21%</td>
<td>$0.4033</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin tapped a new all-time high of $106,000, having earlier broken through the $102,000 resistance
Following in its footsteps, Ethereum rose above $4,000 before pulling back slightly.
Total cryptocurrency liquidations topped $309 million over the last 24 hours, out of which $204 million belonged to leveraged shorts.
The market started to get overleveraged, and any dip below $100,000 would liquidate over $1 billion in long positions.
Bitcoin's Open Interest soared by 7.48% in the last 24 hours. A rise in OI, coinciding with a price rally, indicated an influx of fresh money into the derivatives market.
Market sentiment remained in the "Extreme Greed" zone, as per the Cryptocurrency Fear &amp; Greed Index,
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Fantom (FTM)</td>
<td>+20.94%</td>
<td>$1.47</td>
</tr>
<tr>
<td>Stacks (ETX)</td>
<td>+17.47%</td>
<td>$2.59</td>
</tr>
<tr>
<td>Ondo (ONDO)</td>
<td>+16.05%</td>
<td>$2.14</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.74 trillion, following an increase of 1.92% over the last 24 hours.
Stock futures traded near flatline Sunday evening. The Dow Jones Industrial Average Futures rose 46 points, or 0.10%, as of 8:40 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 rose 0.07%, while Nasdaq 100 Futures added only 0.04%.
This week, investors will focus on the year's last Federal Open Market Committee meeting, during which the central bank officials will decide on the benchmark interest rates.
Participants have priced in a 93.7% chance of a 0.25% cut to a 4.25%-4.50% range, <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">as per</a> the CME Fedwatch tool.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Amid Bitcoin's strong rally, influential cryptocurrency analyst Ali Martinez sparked concerns about a potential market top.
"Long-term Bitcoin holders often sell near market tops. Interestingly, in 2017 and 2021, their biggest sell-offs occurred right before the final leg-up," Martinez said, drawing parallels with ongoing patterns.
"Could we be on the verge of a similar pattern? Is this the start of a market top?"
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Long-term <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> holders often sell near market tops. Interestingly, in 2017 and 2021, their biggest sell-offs occurred right before the final leg up. Could we be on the verge of a similar pattern? Is this the start of a market top? <a href="https://t.co/3L0cFoNebs">pic.twitter.com/3L0cFoNebs</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1868455501140521439?ref_src=twsrc%5Etfw">December 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another widely followed market observer, Michaël van de Poppe, predicted the "next wave" for altcoins.
"Yes, it&#8217;s time for a new move and, as the markets tend to move like this, but this move is going to be significantly bigger than the previous one," the analyst remarked.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The <a href="https://twitter.com/hashtag/Altcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoin</a> markets are ready for their next wave. Yes, it&#39;s time for a new move and, as the markets tend to move like this, but this move is going to be significantly bigger than the previous one. Here&#39;s an ideal recipe on how to handle those moves, maximizing returns. The… <a href="https://t.co/bjhuhdJ5Kz">pic.twitter.com/bjhuhdJ5Kz</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1868360673098625106?ref_src=twsrc%5Etfw">December 15, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
In the last 24 hours, Bitcoin dominance dropped by 4% to 55.9%, while the market share of altcoins rose 3.48% to 31.2%.
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li><a href="https://www.benzinga.com/24/12/42470335/if-you-invested-1000-in-xrp-token-when-ashton-kutcher-surprised-ellen-degeneres-with-4m-charity-donation-heres-how-much-youd-have-today">If You Invested $1,000 In XRP Token When Ashton Kutcher Surprised Ellen DeGeneres With $4 Million Charity Donation, Here&#8217;s How Much You&#8217;d Have Today</a></li>
</ul>
Photo courtesy: Shutterstock

Bitcoin Breaks $106K, Ethereum, Dogecoin Rally Ahead Of Key Fed Meet But Top Analyst Triggers Anxiety With This Observation

The week was a rollercoaster ride in the cryptocurrency world. From Peter Schiff&#8217;s advice to President Biden to sell all U.S.-owned Bitcoin, to a bearish turn in the Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) markets, and a potential surge in Dogecoin&#8217;s value, there was no shortage of action. Here&#8217;s a closer look at these stories.
Peter Schiff&#8217;s Advice to Biden
Renowned economist Peter Schiff has urged President Joe Biden to sell all Bitcoin owned by the U.S. before his term ends. Schiff believes this move could help reduce the country&#8217;s growing budget deficit. He shared his advice via a post, calling it the &#8220;one good thing&#8221; Biden could do before making way for a potential Donald Trump presidency.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42404610/peter-schiff-advises-biden-to-do-one-good-thing-before-his-term-ends-sell-all-the-bitcoin-held-by-the-us">Read the full article here.</a>
Bitcoin, Ethereum, Dogecoin Turn Bearish
Despite U.S. Bitcoin ETF inflows nearing $10 billion, cryptocurrency markets were trading lower on Monday. This includes Bitcoin, Ethereum, and Dogecoin, all of which turned red.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42399235/bitcoin-ethereum-dogecoin-turn-red-timeline-got-bearish-trader-notes">Read the full article here.</a>
Dogecoin&#8217;s Potential Surge
Popular crypto trader and analyst Ali Martinez has expressed optimism about Dogecoin&#8217;s future. Following a dip in Dogecoin&#8217;s value, Martinez plans to buy more of the meme coin, stating that it&#8217;s still early in the DOGE bull cycle. He predicts that Dogecoin could potentially reach $18 if things &#8220;go wild&#8221;.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42405504/dogecoin-can-touch-18-if-things-go-wild-says-influential-crypto-trader-thankful-for-the-dip-and-will-buy-more">Read the full article here.</a>
Microsoft&#8217;s Bitcoin Proposal
Ripple&#8217;s Stablecoin Approval Ripple Labs secured NYDFS approval for its RLUSD stablecoin, marking a significant milestone in its market expansion. The new stablecoin, pegged to the US dollar, is part of Ripple&#8217;s strategy to capitalize on the growing demand for stablecoins.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42423570/ripple-secures-nydfs-approval-for-rlusd-stablecoin-xrp-price-up-9">Read the full article here.</a>
Bitcoin&#8217;s Next Move
After soaring in 2024 due to several catalysts, including Bitcoin ETFs and more companies acquiring the cryptocurrency, Bitcoin has dipped. As speculation grows about its next move, over 60% of Benzinga readers predict that new all-time highs will be hit next, while others anticipate a further dip to $85,000.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42440369/bitcoins-next-move-105000-or-85000-poll-finds-over-60-say">Read the full article here.</a>
Read Next:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42482064/shiba-inu-burns-13-million-coins-in-24-hours-shib-chart-looks-primed-for-launch-very-soon-says-trader?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Burns 13 Million Coins In 24 Hours: &#8216;SHIB Chart Looks Primed For Launch Very Soon,&#8217; Says Trader</a></li>
</ul>
Photo courtesy: Shutterstock
 This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/anan-ashraf" target="_blank" rel="noopener">Anan Ashraf.</a>

MSFT

Schiff's Advice To Biden, Dogecoin's Potential Surge, Microsoft's Bitcoin Proposal, And More: This Week In Crypto

Asset manager VanEck&nbsp;has projected a significant upswing in the cryptocurrency market, anticipating record&nbsp;highs by the end of&nbsp;2025. This prediction outlines expectations for&nbsp;Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)&nbsp;to reach approximately $180,000 and&nbsp;Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)&nbsp;to exceed $6,000.
What Happened: According to&nbsp;Matthew Sigel,&nbsp;head of digital asset research&nbsp;at VanEck, the firm <a href="https://www.vaneck.com/us/en/blogs/digital-assets/matthew-sigel-vanecks-10-crypto-predictions-for-2025/">foresees</a> a 30% retracement in Bitcoin prices before these highs, with altcoins potentially experiencing&nbsp;sharper declines of up to&nbsp;60% during market consolidation in the summer.
VanEck also predicts the U.S.&nbsp;will adopt a Bitcoin strategic&nbsp;reserve in 2025, with regulators approving&nbsp;more crypto exchange-traded funds (ETFs),&nbsp;boosting institutional adoption.
This includes new SEC leadership approving multiple spot crypto ETPs, with Ethereum ETPs featuring staking and&nbsp;both Ethereum and Bitcoin ETPs&nbsp;allowing in-kind transactions and redemptions.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42440369/bitcoins-next-move-105000-or-85000-poll-finds-over-60-say?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin&#8217;s Next Move: $105,000 Or $85,000? Poll Finds Over 60% Say…</a>
Why It Matters: The cryptocurrency market has been a focal point for analysts and investors alike, with predictions of significant growth by 2025. A&nbsp;<a href="https://www.benzinga.com/24/12/42495703/bitcoins-2025-price-target-set-at-175k-minimum-analyst-predicts">recent analysis</a>&nbsp;highlighted Bitcoin&#8217;s potential to reach a minimum of $175,000, despite market fluctuations. This aligns with&nbsp;VanEck&#8217;s&nbsp;optimistic outlook.
However, the path to these highs may not be smooth. Analyst&nbsp;Michaël van de Poppe&nbsp;warned of potential&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42127938/bitcoin-analyst-warns-of-4-6-flash-crashes-before-year-end-as-it-inches-closer-to-100k-thats-the-moment-altcoins-shoot-off">flash crashes</a>, suggesting strategic entry points for investors during these dips. This sentiment was echoed in another report indicating that Bitcoin and Ethereum are <a href="https://www.benzinga.com/24/11/42022585/michael-van-de-poppe-says-bitcoin-ethereum-and-altcoins-close-to-the-point-where-investors-can-buy-the-dip">nearing critical buying levels</a>.
Additionally, Bitcoin&#8217;s role in global economic strategies is evolving. At a recent conference, Anthony Pompliano emphasized Bitcoin&#8217;s potential as a <a href="https://www.benzinga.com/news/events/24/12/42484380/bitcoin-isnt-just-a-financial-tool-pompliano-calls-it-a-sovereignty-strategy">sovereignty strategy</a>, highlighting its use as a hedge against sanctions and its growing influence on national financial resilience.
Read Next:
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<li><a href="https://www.benzinga.com/24/12/42495680/crypto-analyst-foresees-altcoin-rally-and-sets-crucial-bitcoin-support-level">Crypto Analyst Foresees Altcoin Rally And Sets Crucial Bitcoin Support Level</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Analyst Color

Crypto Market Predicted To Surge To All-Time Highs By Late 2025, But A 30% Drop In Bitcoin Prices Could Come First

Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) price trajectory continues to capture attention as analysts forecast significant gains by 2025. Despite recent market fluctuations, experts maintain a bullish outlook, projecting substantial growth in the coming years.
What Happened: Bitcoin has consistently closed above $95,000 since Nov. 27, indicating robust investor interest. Despite market volatility, an&nbsp;Ernst and Young&nbsp;consultant remains optimistic about Bitcoin&#8217;s 2025 price potential.
Danny Marques, a researcher in the Bitcoin mining sector, shared insights from a study examining Bitcoin&#8217;s past bull cycles. The study analyzed Bitcoin&#8217;s post-halving performance and projected targets using Fibonacci extensions.
Marques noted that Bitcoin historically peaks around certain Fibonacci levels, with the minimum target for each cycle being the 1.618 level.
"During the last 3 cycles, Bitcoin has hit the 1.618 fib EVERY single time, just a fact. So with that in mind, we can deduce that the 1.618 fib for this cycle is a base case target at $173k. This represents a +78% move from current price," he said.
See Also: <a href="https://www.benzinga.com/24/12/42495680/crypto-analyst-foresees-altcoin-rally-and-sets-crucial-bitcoin-support-level">Crypto Analyst Foresees Altcoin Rally And Sets Crucial Bitcoin Support Level</a>
Assuming stable macroeconomic conditions, Marques anticipates Bitcoin&#8217;s price could range between $173,646 and $461,135 in 2025. This prediction is based on previous cycle patterns and Fibonacci analysis.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Many are curious at what price will <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> top this cycle. Let&#39;s evaluate prior cycle tops to assess &#x1f447; I will start out with my <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> target for 2025, at a minimum: $173,646 Using fibonacci levels to &quot;back-test&quot; the last 3 cycles we can deduce that Bitcoin has topped near the… <a href="https://t.co/WYxTN80bPy">pic.twitter.com/WYxTN80bPy</a>
&mdash; Danny Marques &#x7C; Investing Informant &#x1f4ca;&#x1f4c8; (@Invst_Informant) <a href="https://twitter.com/Invst_Informant/status/1867332649070514333?ref_src=twsrc%5Etfw">December 12, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Meanwhile,&nbsp;On-Chain College, an anonymous Bitcoin analyst, observed that Bitcoin miners are holding onto their BTC more than ever.
The analyst highlighted a significant decrease in miners&#8217; net position change, dropping from 41,000 BTC in January 2021&nbsp;to 3,700 BTC in December. This shift indicates a trend of miners retaining their Bitcoin rather than selling for immediate profit.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bitcoin Miner Net Position Change TL;DR Miners are diamond handing their BTC. During the big bull run in 2021, we saw miners change their net position by as high as 41K BTC over a month change period. Since the BTC price was 3 to 4 times lower in 2021, we could rationally say… <a href="https://t.co/K3amevqHJR">pic.twitter.com/K3amevqHJR</a>
&mdash; On-Chain College (@OnChainCollege) <a href="https://twitter.com/OnChainCollege/status/1867219866635104578?ref_src=twsrc%5Etfw">December 12, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: The bullish predictions come amid a backdrop of recent market corrections.
Leading cryptocurrency analyst&nbsp;Michaël van de Poppe&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42127938/bitcoin-analyst-warns-of-4-6-flash-crashes-before-year-end-as-it-inches-closer-to-100k-thats-the-moment-altcoins-shoot-off">warned of potential</a> &#8220;4-6 flash crashes&#8221; as Bitcoin approached $100,000. Despite these anticipated drops, van de Poppe suggested these could offer strategic entry points for investors.
Furthermore, Bitcoin&#8217;s role as a financial tool is evolving. At the&nbsp;<a href="https://www.benzinga.com/news/events/24/12/42484380/bitcoin-isnt-just-a-financial-tool-pompliano-calls-it-a-sovereignty-strategy">Benzinga Future of Digital Assets conference</a>,&nbsp;Anthony Pompliano&nbsp;emphasized Bitcoin&#8217;s potential as a sovereignty strategy.
He highlighted its growing influence in global economic strategies and as a hedge against sanctions, particularly in light of geopolitical events like the Russia-Ukraine conflict.
Price Action: Bitcoin is currently trading at $101,789, up 1.58% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Read Next:
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<li><a href="https://www.benzinga.com/24/12/42477447/dogecoins-fate-tied-to-bitcoin-not-worth-overly-focusing-on-analyst-says-as-apex-memecoin-mirrors-btcs-pullback?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin&#8217;s Fate Tied To Bitcoin, Says Crypto Analyst: &#8216;Sit Back And Wait&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image generated using Dall-E

Bitcoin's 2025 Price Target Set At $175K Minimum, Analyst Predicts

Well-known crypto analyst Michaël van de Poppe has predicted a potential surge in the altcoin market, following a period of stagnation. The analyst has also identified a critical support level for&nbsp;Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)&nbsp;to maintain its upward trajectory.
What Happened: Van de Poppe suggests the altcoin market is poised for an upswing after hitting a low.
The analyst shared with his 751,700 followers on X that the OTHERS chart, which monitors the market cap of all cryptocurrencies except the top 10 coins and stablecoins, is showing&nbsp;a bullish pattern on the&nbsp;weekly timeframe.
"The altcoin market capitalization (OTHERS) has bottomed out. There is a bullish divergence and a strong move upwards, which suggests that we're likely just making a higher low here. Onwards and upwards," he said.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The <a href="https://twitter.com/hashtag/Altcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoin</a> market capitalization (OTHERS) has bottomed out. There is a bullish divergence and a strong move upwards, which suggests that we&#39;re likely just making a higher low here. Onwards and upwards. <a href="https://t.co/bxu5Mk4XnY">pic.twitter.com/bxu5Mk4XnY</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1867309197840527860?ref_src=twsrc%5Etfw">December 12, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Van de Poppe also forecasts a significant rise for&nbsp;Aptos (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">APT</a>), predicting it will climb over 41% from its current price. He expects APT to reach targets of $17 and $20, with APT currently trading at $14.18, marking a 3% increase in the past day.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42482064/shiba-inu-burns-13-million-coins-in-24-hours-shib-chart-looks-primed-for-launch-very-soon-says-trader?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Burns 13 Million Coins In 24 Hours: &#8216;SHIB Chart Looks Primed For Launch Very Soon,&#8217; Says Trader</a>
Regarding&nbsp;Bitcoin, the analyst emphasizes the importance of maintaining a support level above $98,000 to sustain its upward momentum. BTC is currently valued at $101,170, rebounding from a brief dip into the $99,000 range.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> looks ready to continue moving upwards. It needs to hold above $98K and then we&#39;re good to go. <a href="https://t.co/UOvCJYMWSJ">pic.twitter.com/UOvCJYMWSJ</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1867487121575227468?ref_src=twsrc%5Etfw">December 13, 2024</a></blockquote>
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Why It Matters: In the weeks leading up to this prediction,&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42127938/bitcoin-analyst-warns-of-4-6-flash-crashes-before-year-end-as-it-inches-closer-to-100k-thats-the-moment-altcoins-shoot-off">van de Poppe</a>&nbsp;had warned of potential <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42127938/bitcoin-analyst-warns-of-4-6-flash-crashes-before-year-end-as-it-inches-closer-to-100k-thats-the-moment-altcoins-shoot-off">&#8220;4-6 flash crashes&#8221;</a> for Bitcoin as it approached the $100,000 mark.
These corrections were expected to cause Bitcoin to drop by 5-10% in a single day, while altcoins could see even larger declines of 20-30%.
Despite these potential setbacks, van de Poppe suggested that these dips could <a href="https://www.benzinga.com/24/11/42022585/michael-van-de-poppe-says-bitcoin-ethereum-and-altcoins-close-to-the-point-where-investors-can-buy-the-dip">serve as strategic entry points</a> for investors, as Bitcoin&#8217;s consolidation might trigger an altcoin rally.
This aligns with the <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42389596/xrp-price-surges-328-in-a-month-outpaces-bitcoin-ethereum-how-high-can-xrp-go">recent surge</a> in XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), which has outperformed Bitcoin and Ethereum, driven by favorable legal developments.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42446237/xrp-price-explodes-20-to-2-43-after-ripple-receives-rlusd-stablecoin-approval?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">XRP Price Explodes 20% To $2.43 After Ripple Receives RLUSD Stablecoin Approval</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

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$XRP

Crypto Analyst Foresees Altcoin Rally And Sets Crucial Bitcoin Support Level

The much-awaited reconstitution of the Nasdaq 100 index has taken place, resulting in the addition of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) proxy MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), and Axon Enterprise Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXON#NASDAQ">AXON</a>).
This change will take effect before the market opens on Dec. 23, 2024.
What Happened:&nbsp;Nasdaq&nbsp;announced on Saturday the results of its&nbsp;annual reconstitution of the Nasdaq-100&nbsp;Index.
The Nasdaq-100 Index, a benchmark for non-financial companies on the Nasdaq, was launched in January 1985. It serves as a basis for financial products like&nbsp;options, futures, and funds.
The&nbsp;annual reconstitution aligns&nbsp;with the quadruple witch expiration&nbsp;Friday of the quarter, a strategic timing for the index.
See Also:&nbsp;<a href="https://www.benzinga.com/24/12/42477447/dogecoins-fate-tied-to-bitcoin-not-worth-overly-focusing-on-analyst-says-as-apex-memecoin-mirrors-btcs-pullback?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin&#8217;s Fate Tied To Bitcoin, Says Crypto Analyst: &#8216;Sit Back And Wait&#8217;</a>
As a result of this reconstitution,&nbsp;three companies will be removed&nbsp;from the index:&nbsp;Illumina, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>),&nbsp;Super Micro Computer, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), and&nbsp;Moderna, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>).
The Nasdaq-100 Index is integral to the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which seeks to mirror the index&#8217;s performance. Options, futures, and structured products based on the Nasdaq-100 Index and the Invesco QQQ Trust are traded on various exchanges.
Why It Matters: The inclusion of&nbsp;MicroStrategy&nbsp;in the Nasdaq-100 could significantly boost its visibility and attract fresh inflows from major ETFs like QQQ.
Analysts at Bernstein have suggested that this move, combined with MicroStrategy&#8217;s aggressive&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42433049/microstrategy-nasdaq-100-inclusion-on-the-horizon-could-spell-59-upside-says-bernstein">Bitcoin acquisition strategy</a>, could lead to a 59% upside for the company, with a target price of $600.
Meanwhile,&nbsp;Palantir&nbsp;is positioned to become &#8220;the next Oracle&#8221; in 2025, according to Wedbush Securities' Dan Ives. The company&#8217;s AI platform is seen as a transformative force in enterprise operations, with significant results already demonstrated through its Warp Speed manufacturing operating system.
This development could further enhance Palantir&#8217;s standing in both government and commercial sectors, as highlighted in Ives&#8217;&nbsp;<a href="https://www.benzinga.com/24/12/42453057/palantir-positioned-to-become-the-next-oracle-in-2025-says-dan-ives-messi-of-ai-set-for-breakout-year">annual sector outlook</a>.
On the other hand,&nbsp;Super Micro Computer&nbsp;finds itself removed from the index, despite benefiting from the surging demand for AI infrastructure. The company faced challenges due to a <a href="https://www.benzinga.com/24/12/42445956/smci-teeters-on-edge-of-nasdaq-100-is-friday-d-day-for-super-micro">recent auditing scandal</a>, which significantly impacted its market capitalization.
Read Next:
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<li><a href="https://www.benzinga.com/trading-ideas/movers/24/12/42452955/shiba-inu-poised-for-180-upside-says-analyst-hodlers-keep-selling?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Poised For 180% Upside, Says Analyst — HODLers Keep Selling</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

MicroStrategy, Palantir, Axon Added To Nasdaq 100: Super Micro Computer, Moderna, Illumina Exit The Index

Legendary Wall Street investor Warren Buffett's anti-cryptocurrency stance doesn't need an introduction, and the "Oracle of Omaha" has consistently professed a complete lack of interest in the asset class.&nbsp;
Even the launch of the hugely popular spot exchange-traded funds linked to Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) couldn't sway Buffett's opinion.
However, you might be surprised to learn that his firm, Berkshire Hathaway, has made significant investments in a lesser-known cryptocurrency-friendly firm.
What happened: Nu Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NU#NYSE">NU</a>), a Brazil-based holding company providing digital banking services, fares on the list of Berkshire Hathaway's acquisitions.
The bank launched its cryptocurrency arm, Nubank Cripto, in 2022, allowing customers to send and receive cryptocurrency assets directly from their wallets.
The platform initially started with Bitcoin, Ethereum, and Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/matic/usd">MATIC</a>), which later expanded to include coins such as Uniswap (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/uni/usd">UNI</a>) and Chainlink (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/link/usd">LINK</a>). Users can also convert their cryptocurrencies to stablecoins like USD Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>).
According to the company&#8217;s latest 13F <a href="https://www.sec.gov/Archives/edgar/data/1067983/000095012324011775/0000950123-24-011775-index.htm">filing</a>, Berkshire Hathaway held 86,438,997 shares of Nu Holdings, translating to a market value of&nbsp; $1.17 billion.
Over the last year, the stock has grown 40.23%, and more than 47% since 2024 began.&nbsp;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42452819/trump-backed-world-liberty-financial-bags-10m-in-ethereum-whats-going-on">Trump-Backed World Liberty Financial Bags $10M In Ethereum: What&#8217;s Going On?</a>
Why It Matters: While one could argue that Buffett invested in a firm whose core business wasn't tied around cryptocurrencies, the choice nonetheless provided an interesting contrast to his typically negative views on the asset.
Well, fair warning. Buffett's views might not be music to your ears if you are a cryptocurrency aficionado.
"In terms of cryptocurrencies generally, I can say almost with certainty that they will come to a bad ending,&#8221; he <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42184221/warren-buffett-once-predicted-a-bad-ending-for-crypto-since-then-the-sectors-market-cap-has-quadrupled-riding-on-the-bitcoin-dogecoin-waves">said</a> back in 2018.
During Berkshire Hathaway's annual shareholder meeting in 2018, Buffett <a href="https://www.benzinga.com/general/24/03/37513063/warren-buffett-says-he-wouldnt-pay-25-for-all-the-bitcoin-in-the-world-he-considers-crypto-rat-poiso">described </a>Bitcoin as &#8220;probably rat poison squared.&#8221;
Price Action: Nu Holdings stock closed 2.20% lower at $11.99 during Thursday&#8217;s regular session, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
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Photo courtesy: Shutterstock

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$UNI

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Do You Know Warren Buffett's Berkshire Hathaway Has Positions In This Lesser-Known Crypto-Friendly Bank? Here's How The Stock Has Performed This Year

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