The market is experiencing sharp fluctuations, focusing on the decline of Bitcoin and its impact on other currencies, along with some positive developments in institutional investments and financial products.
Today's top news:
🔹️Sharp decline in crypto prices: Bitcoin (BTC) fell below $95,000 for the first time since May, closing at $95,819 by the end of the day, with long contract liquidations exceeding $1.1 billion. Ethereum (ETH) dropped to around $3,155, and Solana (SOL) to $141, amid concerns over a slowdown in interest rate cuts in December.
🔸️Negative flows from ETF funds: Bitcoin ETF funds experienced record outflows of $870 million in a single day (the second worst in history), reflecting a temporary decline in institutional confidence. However, Harvard University announced a 257% increase in its Bitcoin ETF holdings to $442.8 million.
🔹️Launch of a new ETF for XRP: Canary's XRP ETF achieved immediate success with inflows of $58 million on its first day, outperforming Bitwise's Solana ETF, indicating growing interest in alternative cryptocurrencies.
🔸️Michael Saylor supports buying: Saylor (founder of MicroStrategy) denied selling rumors, confirming that the company is buying Bitcoin daily this week, expecting BTC to surpass gold as an asset class by 2035.
Other developments:
The U.S. Department of Justice seized an additional $15 million from North Korean crypto thefts.
Hydra launched Wrapped Bitcoin (WBTC) on its network to enhance liquidity in DeFi.
Uniswap launched continuous token auctions in version v4 to improve transparency.
Privacy coins like Zcash (ZEC) and Dash (DASH) have risen by more than 40% in 24 hours, supported by a growing interest in privacy as a safe haven.
