#The Bull Market Continues, Hold Calmly

Regarding ETFs, on December 16th, $BTC spot ETF had a net inflow of $636 million, while $ETH spot ETF had a net inflow of $51.13 million.

MicroStrategy increased its holdings by approximately $1.5 billion, acquiring 15,350 BTC at an average purchase price of $100,386. The BTC return so far this quarter is 46.4%, and the year-to-date BTC return is 72.4%. As of December 15, 2024, MicroStrategy holds 439,000 BTC, with an average acquisition price of $61,725, totaling a cost of approximately $27.1 billion.

Customers affected by the FTX bankruptcy will be able to receive bankruptcy distributions through Kraken and BitGo, with the plan set to take effect on January 3, 2025. FTX stated in a press release on Monday that the “initial distribution” is expected to occur within 60 days following the effective date.

Santiment reported that there are currently 104 whale wallets holding at least 100,000 ETH, accounting for 57.35% of the existing ETH, reaching an all-time high, currently valued at approximately $333.1 billion. Meanwhile, the supply ratio of wallets holding between 100 and 100,000 ETH is at a historical low of 33.46%. The supply ratio of wallets holding less than 100 ETH is nearing a four-year low at 9.19%.

ETH wallets are increasingly composed of DeFi and staking wallets, and when a prominent stakeholder of a token continues to accumulate, this often remains a bullish long-term signal, especially when it is an asset that has been around for nine years, and the proportion of tokens held by whales also reaches a historical high.

According to calculations by CryptoQuant analysts, if the current supply and demand dynamics of Ethereum persist, the cryptocurrency could reach a historical high of over $5,000 next year.

BTC and ETH are correlated, and the exchange rate continues to test the right-side support. If we consider that the bottom of the pattern has already appeared, then the exchange rate will likely rebound and break through the 0.04 resistance level.

According to Messari's 2025 Crypto Theses report, Solana may see another strong year. It noted that the Solana ecosystem raised $173 million in the third quarter of 2024, a high since the second quarter of 2022. Additionally, the spot ETF $SOL seems imminent. The regulatory environment will become more relaxed, potentially driving explosive growth fueled by institutional interest.