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Amidst the ongoing bearish trend in the crypto market, Santiment, a market intelligence platform, has identified a potential bullish signal. On-chain data suggests that influential investors, specifically whales, are beginning to accumulate Bitcoin (BTC), Tether (USDT), and USD Coin (USDC). This strategic accumulation by large holders indicates a potential bullish reversal and a possible recovery. Notably, the analysis revealed that the shark and whale holdings of Bitcoin have reached a six-year low, with wallets holding 10-10K BTC representing the lowest percentage since September 2018. Additionally, the supply of BTC is currently at its lowest quantity since June 2023, with a market value exceeding $530 billion. The dynamics of Tether (USDT) and USD Coin (USDC) also show interesting trends, as wallets holding 100,000 to 10 million USDT and USDC have decreased their holdings over the past six months. Despite the current market sentiment, Santiment remains optimistic about another bull cycle, especially with the upcoming Bitcoin halving. The accumulation of BTC, USDT, and USDC by whales serves as a key indicator that many traders are closely monitoring for potential bullish movement.

Whale Accumulation Signals Bullish Reversal Amid Ongoing Bearish Trend On-chain data suggests whales may soon begin accumulating BTC, USDT, and USDC. This signals a bullish trend despite the current market downtrend. Shark and whale holdings of Bitcoin have reached a six-year low. Amid the current bearish trend sweeping through the crypto market, leading market intelligence platform Santiment has identified a potential key bullish signal. Santiment sees the optimistic signal in the potential activities of influential investors of Bitcoin (BTC), Tether (USDT), and USD Coin (USDC). In a recent tweet, Santiment highlighted that whale accumulation of Bitcoin, USDT, and USDC could be a crucial indicator for a possible recovery. The market sentiment analysis suggested that strategic accumulation by large holders may pave the way for a bullish reversal to reclaim last week’s 2-year high. It examined the current distribution tiers for Bitcoin and the top stablecoins, revealing a slight downturn in the shark and whale holdings. Specifically, Santiment’s analysis highlighted that wallets with 10-10K Bitcoin (BTC) presently constitute 66.27% of the total supply. This marked the lowest percentage since September 26, 2018. Meanwhile, the report underscored that the current supply represents the smallest quantity of BTC since June 20, 2023, with 12.99 million BTC. Notably, these tokens hold a market value exceeding $530 billion. Similarly, the shark and whale tiers for Tether (USDT) and USD Coin (USDC) showed interesting dynamics. Wallets holding 100,000 to 10 million USDT represent 33.98% of the supply. Those holding 100,000 to 10 million USDC account for 35.49% of the supply. Over the past six months, these wallets have decreased their holdings by 4.02% and 3.05%, respectively. Despite the current bearish trend, Santiment remains optimistic about the potential for another bull cycle, as witnessed in late 2023. Significantly, with the Bitcoin halving just under 14 weeks away, whales’ accumulation of BTC, USDT, and USDC is a key indicator that many traders are closely watching.

Chris Brunet, an independent investigative journalist, uncovered the history of plagiarism and data fabrication by former Harvard President Claudine Gay. While he bet on Gay's resignation on the prediction market platform Polymarket, he ended up losing. Despite this setback, Brunet still believes in the potential of monetizing the wisdom of the crowd through prediction markets. Ethical concerns arise when journalists have personal stakes in the outcome of their stories, similar to insider trading. While the legality is uncertain, prediction markets may fall under the jurisdiction of regulatory bodies like the SEC or CFTC. Despite not profiting from prediction markets so far, Brunet's investigative work has gained him more subscribers, particularly in the academic community. In the future, he plans to branch out and cover topics like central bank digital currencies from a critical perspective.

He Exposed Harvard President's Plagiarism, Then Lost Money Betting on the Story Chris Brunet knew he had a big story, so he bet it would make a big impact.The independent investigative journalist uncovered now-former Harvard President Claudine Gay's history of plagiarism in December 2023 and her data fabrication the year before. For many reporters, publishing such explosive exposés would be its own reward, but Brunet wanted to profit from the fallout of his findings.Late last month, he went to Polymarket, the largest prediction market platform, and made a bet. He stood to win $1,400 worth of cryptocurrency if Gay was longer be president of Harvard at the end of the year.Close, but no cigar. In the end, Gay didn't step down as Harvard President by the end of 2023, as the prediction market asked, but rather a few days into the new year. While he had been directionally correct, Brunet lost."I've never made money on prediction markets. I'm down. It's a hobby rather than something I actually make money on," Brunet said in an interview with CoinDesk. "In the past, when I wrote articles, I used to make firm predictions. But I got fooled so many times with prediction markets, so I'm very humble."By his own admission, he's a better journalist than trader. Even so, Brunet said he'd still love to monetize his otherwise impactful work by trading on it."The only reason I don't bet big on Polymarket right now is that I don't have a lot of money. So I can't really justify putting a huge bankroll in Polymarket," he told CoinDesk. "If I did have a huge bankroll, and there were markets about my ongoing investigations, I certainly would be betting on that."If, like Brunet, you're bold enough to write something that might lead to an arrest and federal charges – he was first to name crypto trader Avraham Eisenberg as the alleged exploiter of Mango Markets, which led to Eisenberg’s arrest in Puerto Rico – or the resignation of one of the most powerful figures in academia, why not enjoy some financial upside?After all, if prediction markets are to become, as their proponents claim, the ultimate arbiters of truth because they harness the power of the crowd, giving people a chance to put their money where their mouths are, they will need somewhere to start.There's also an argument that prediction market journalism isn't all that different from what activist short sellers do: use a process similar to investigative journalism to find dirt on a company, take a short position and then publish the results for the market to digest.A future, prediction market-oriented media could even, as Scott Alexander of Slate Star Codex fame writes, do away with the industry cancer of fake news and clickbait."In a prediction market, once you're wrong a couple of times, traders will stop updating on your reports and you'll lose most of your power to move the market," he wrote.A front-running 1980s journalistYet, lingering on Brunet's mind is whether this is all ethical."One big question I have, still somewhat unresolved, is the ethics of having a personal stake in the outcome of your story, akin to insider trading, or knowing information before the markets do," he said.Can you place a prediction market bet on something you're so closely invested in? Could Gay, or the Harvard Corporation board, hypothetically trade on Polymarket a day before she resigned?"It strikes me that betting on the outcome of one's stories presents a conflict of interest. The journalist now has a stake beyond informing the public or serving the public interest," Jane E. Kirtley, a professor of media ethics and law at the University of Minnesota's Hubbard School of Journalism, told CoinDesk in an email interview.Kirtley says she finds it troubling because it "undermines the compact that journalists have with the public: acting independently and putting the interests of the public first and foremost."Kirtley brings up the 1980s-era case of Foster Winans, a former Wall Street Journal reporter who leaked the contents of upcoming, potentially market-moving "Heard on the Street" columns to a stockbroker."I think from an ethical perspective, it is difficult to argue that Winans' conduct was consistent with ethical norms in journalism," she said. "He had a personal financial interest in the impact of the 'Heard on the Street' columns he wrote, and he did not disclose that to his readers or his employer."At a minimum, Kirtley said, journalists who bet on the outcome of their stories "should be transparent about it -- certainly with the journalist's employer (if any), and also with the public."For his part, Brunet is quite clear with his readers about exactly what he's doing. "I don't believe ‘unbiased journalism' exists, hence why the tagline of my Substack is ''opinionated investigative journalism,'" he posted on X in December, while disclosing exactly how much he'd profit should Gay have been fired before the end of 2023."I wear my bias on my sleeve," he continued.What does the SEC think?And how about the legality? That's where it gets complicated.Winans, in the eyes of the court, had breached the duty of confidentiality he owed the WSJ by front-running its daily publication schedule, finding him and his co-conspirators guilty of mail and wire fraud.The information was still confidential until it was published, the court found.(This did raise significant First Amendment concerns at the time, and the Reporters Committee for Freedom of the Press, where Kirtley was a director, was part of an amicus brief arguing these issues).For prediction markets, things are more murky."There is no clear answer as to whether betting on prediction markets with inside information constitutes insider trading under U.S. law," Florida-based digital assets attorney John Montague told CoinDesk in an interview."It may depend on whether prediction markets are considered ‘securities’ for the purposes of insider trading law, and whether the person betting on the prediction market is in possession of material, nonpublic information and is using it for personal benefit," Montague continued.Montague said the current statute on the books (15 U.S.C. § 78u-1) imposes civil penalties for insider trading involving securities.But it's unclear if prediction markets are classified as securities under this law, Montague says, and thus under the purview of the U.S. Securities and Exchange Commission (which has signaled it deems most crypto assets to be securities). If so, using insider information in prediction markets could constitute insider trading."I could foresee a situation in which the SEC establishes such marketplaces as unregistered securities and thus expands the SEC’s jurisdiction to prediction markets at which such time some of the insider trading penalties could be available," he said.…or does someone else have jurisdiction?For its part, Polymarket, which runs on the Polygon blockchain network and settles bets in crypto, prohibits U.S. persons from using the platform and isn't available in the country.On Kalshi, which is registered with the U.S. Commodity Futures Trading Commission and settles in dollars, there is a prohibition to trade on material nonpublic information."There is currently no specific instance that I am aware of where the Commodity Futures Trading Commission has exerted its authority over insider trading specifically related to prediction markets. It is certainly a possibility that the CFTC could choose to do so in the future," Montague added."Although no precedent exists yet, it is highly likely that prediction markets could fall within the CFTC's jurisdiction, giving it the potential to regulate such activities under its mandate to combat fraud and manipulation," he continued.Kalshi also prohibits employees of data providers (ranging from the National Weather Service to Billboard magazine), which may have a slight lead on getting data before it becomes public, from trading.It should also be noted that the CFTC only got powers in 2010 to pursue insider trading cases under the Dodd-Frank Act, which was meant to limit financial risk.Prior to the act, the CFTC's authority to regulate insider trading in commodities markets was limited, focusing mainly on its own personnel and those of exchanges, but Dodd-Frank expanded the regulator's powers, allowing it to address a broader range of insider trading activities, including those involving use of confidential information.Since then, the CFTC settled its first insider trading case in 2016 and its fourth in 2020. In comparison, the SEC brought 43 insider trading cases against 93 individuals in 2022.Still a believerDespite not making money so far with prediction markets, Brunet said he is still a believer in the idea of monetizing the wisdom of the crowd – the most accurate gauge of truth, according to proponents of prediction markets – and that it's still early for the industry.Losing bet aside, Brunet said his investigation into Gay has done wonders for his subscriber count – much more than his investigation into Mango Markets' alleged exploiter."I got 300 subscribers from the [Mango Markets] story," he said. "And in comparison, for the Harvard story, I went from 5,700 to 8,500."Brunet said he's become “somewhat pigeonholed" after his success in reporting on academia."I almost wish I could return to writing about other topics. However, I receive many tips about academia, and my audience, which is largely academic, seems very interested in this area," he continued.When he eventually branches out, Brunet said, he plans to launch a Substack newsletter covering central bank digital currencies."We're not approaching it from a right-wing conspiracy perspective, but rather from a standpoint advocating the ethos of decentralization, which contrasts with CBDCs," he said. "We are highly critical of CBDCs, and there aren't many publications specifically opposing them." CoinDeskCrypto Read more from CoinDesk

The crypto market is currently focused on the upcoming Bitcoin halving in 2024, which historically triggers a bull market. As Bitcoin's price shows volatility before halving, coins like Solana, Aptos, Sei, Xai, and Blur are emerging as potential alternatives for investors. These coins offer new opportunities for those who missed Bitcoin's rise in 2021. Solana has a bullish outlook with high throughput and low transaction costs. Aptos enhances efficiency through its unique smart contract programming language. Sei has shown a bullish trend and has the potential to reach $1. Xai has experienced a surge, especially in the gaming sector. And Blur has sustained growth despite token unlocks in the NFT marketplace. These coins provide avenues for investors looking for new opportunities in the crypto market.

The upcoming Bitcoin halving is generating excitement and speculation about its impact on altcoins like Ripple (XRP), Solana (SOL), and Sei (SEI). While Ripple (XRP) currently faces a bearish trend, potential for recovery exists depending on market dynamics and investor sentiment. Solana (SOL) shows signs of a bullish breakout, driven by market speculation and potential macroeconomic factors. Sei (SEI) maintains a bullish market structure with strong demand, but faces the challenge of market volatility and investor eagerness. Overall, the future price movements of these altcoins will depend on a variety of factors and the prevailing market conditions.

Is Bitcoin Halving a Threat to Ripple (XRP), Solana (SOL), and Sei (SEI) Holders? In today’s crypto market, Bitcoin (BTC) trades below $43,000 after an 8% price drop. This has ushered in an "altcoin season," with the BTC dominance falling to 47.5%. The upcoming Bitcoin (BTC) halving, which historically influenced price increases, is only 110 days away. The event that will reduce mining rewards to 3.125 BTC per block also sparks speculation about its impact on other cryptocurrencies like Ripple (XRP), Solana (SOL), and Sei (SEI). As the market focus shifts towards these altcoins, the potential effects of halving on their value and investor sentiment remain uncertain. Ride The Wave Of Innovation With ScapesMania As the ScapesMania presale nears its completion in February, the team is working hard to secure a quick listing on tier-1 exchange platforms. There is a good probability that the token's value will increase exponentially after the listing. The team behind ScapesMania, with years of expertise, has crafted a robust post-listing marketing strategy. Buyback, burn, staking, and all the perks for holders keep attracting new adopters. Through DAO governance, backers will be able to influence and benefit from a multi-billion-dollar industry. Moreover, the token's utility is impressive. It's not another meme coin whose success relies heavily on trends and hype. ScapesMania (MANIA) is a well-balanced, meticulously designed project that acts as a gaming ecosystem. As the presale is wrapping up, you need to act fast and grab your discounted tokens now! The countdown is on – don't let this chance pass you by. Presale is Live Now – Join Now for a Chance to Benefit with MANIA ScapesMania, a player in the $376 billion gaming industry, leverages the market's growth potential. Post-exchange debut, holders can anticipate greater liquidity and easier trading. The community's excitement about the project is evident so far, with $4,500,000+ raised to date from crowd/retail contributions alone. Notably, the fundraising amount is growing by $50,000+ daily and the follower count has reached 60K+ and showcases a weekly growth of 12%. The growing interest from crypto whales with checks of $20,000+ might expedite ScapesMania's transition from niche to mainstream. ScapesMania's smart contract has received approval from prominent security-ranking firms, ensuring peace of mind for holders. Additionally, the award-winning team behind ScapesMania secured a prestigious grant from a prominent player in the blockchain industry. Furthermore, ScapesMania is notable for putting its community front and center. Driving customer engagement and making sure that everyone benefits through great tokenomics and generous rewards is where ScapesManias stands out. Make sure you don't pass up the opportunity to get the early bird discount as the presale nears its end. Be quick if you want to get your hands on those lucrative tokens before they're all gone. Presale Closing Soon – Seize Opportunities Now! Ripple (XRP): Facing a Bearish Pattern and Uncertain Future Profit-taking and a broader market’s bearish sentiment caused Ripple (XRP) to drop 10% in January. The price broke below a key support level, forming a descending triangle pattern – a bearish pattern characterized by lower highs and relatively consistent lows, often signaling a downward price movement. Ripple's (XRP) current price fluctuates between $0.563 and $0.683. The 10-day Moving Average is at $0.574, while the 100-day Moving Average stands at $0.599. Support levels are found at $0.391 and $0.511, with resistance levels at $0.752 and $0.872. Ripple's (XRP) future is a mix of growth prospects and challenges. The bearish outlook is partly driven by profit-taking as seen in high-risk profit levels in the market. However, there's still potential for recovery supported by exposure from ETFs and other positive developments. The absence of plans for a spot Ripple (XRP) ETF by major asset managers like BlackRock adds to the cautious sentiment. Ripple's (XRP) future price movement will likely be influenced by overall market dynamics and investor sentiment, with a possibility of recovery if it effectively navigates the current challenges. Solana (SOL): A Path to Potential Growth Solana (SOL) is showing signs of a potential bullish breakout driven by technical and fundamental indicators. The price of Solana (SOL) is now testing the upper trendline of a bull flag pattern, which indicates a potentially positive price movement. As of today, Solana's (SOL) price range lies between $64.84 and $132.36. The 10-day Moving Average is at $96.62, while the 100-day Moving Average is at $65.74. Support and resistance levels are set at $27.97 and $163.01, respectively, with the most ambitious target at $230.54. Solana (SOL) could approach $200 as early as March amidst growing anticipation of a spot Solana ETF and expectations of interest rate cuts by the Federal Reserve. While the approval of Bitcoin ETFs has raised hopes for similar products for Solana (SOL), a dovish Fed could lead to a weaker US dollar, which can also benefit altcoin. However, the price trajectory of Solana (SOL) will be influenced by market dynamics and regulatory developments. Sei (SEI): Bullish Sentiment with a Hint of Caution Sei (SEI) has exhibited a strong bullish outlook on higher timeframe charts, rallying significantly from its December low to an early January peak. Although the price has retraced to a demand zone, the bullish sentiment remains intact. Sei's (SEI) price range is set between $0.582 and $0.808, with the 10-Day Moving Average hovering at $0.758 and the 100-day Moving Average marked at $0.729. Support levels are at $0.244 and $0.471, while resistance levels are at $0.924 and $1.15. Sei (SEI) is expected to continue its bullish trend, with a target of reaching $1 and higher in the coming weeks. The market structure remains firmly bullish, and demand for the token is strong. However, the enthusiasm of market participants could lead to a consolidation phase, potentially trapping Sei (SEI) within a range that could shake out overly eager bulls. The future price movement of Sei (SEI) will depend on market sentiment and the ability of bulls to maintain control amidst short-term volatility. Conclusion The crypto market undergoes significant changes - the coming Bitcoin (BTC) halving is stirring up excitement about its impact on altcoins like Ripple (XRP), Solana (SOL), and Sei (SEI). Ripple (XRP) is currently facing a bearish trend, with technical indicators suggesting a cautious market outlook, but there's potential for recovery highly depending on market dynamics and investor sentiment; Solana (SOL) exhibits signs of a bullish breakout, with expectations of growth driven by market speculation and potential macroeconomic factors; Sei (SEI) maintains a bullish market structure, with strong demand and a positive outlook, though it faces the challenge of market volatility and investor eagerness. Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

In response to the SEC's request for post-complaint discovery, Ripple has objected, arguing that the SEC is asking for unnecessary and irrelevant information, and attempting to subvert the legal process. Ripple highlights that the SEC had ample opportunity to seek the requested discovery during fact discovery but chose not to, and now lacks good cause to do so. Furthermore, Ripple points out that the SEC's demands are unreasonable and exceed the allowed interrogatories under Rule 33. Ripple believes that adjudicating the legality of its post-complaint sales could lead to lengthy ancillary litigation. The XRP community has applauded Ripple's stance, and they remain hopeful that the Ripple SEC lawsuit will reach a resolution in 2024.

Astar has been making history in the Polkadot ecosystem with its impressive growth and solid numbers. With a community of 650,000 enthusiasts and 3.4 billion staked tokens, Astar has shown remarkable faith in its future. The focus on tangible applications, partnerships with industry giants, and innovative dApps bridging the gap between theory and practice have contributed to its steady growth. The upcoming Astar 2.0 upgrade further strengthens its position by enhancing network functionalities and attracting more developers. Astar's journey in the Web3 landscape is just beginning, but the foundation for sustained success has been firmly established.

Cardano, one of the top cryptocurrencies, is currently experiencing significant growth and progress, as highlighted in the latest report by Input Output Global (IOG). With 157 projects launched and 1,319 projects under development on the Cardano platform, it is evident that there is substantial activity in the ecosystem. Additionally, there are now 9.45 million native tokens across 93,021 token policies, indicating a vibrant token economy. The release of Marlowe 0.3.0 and Hydra version 0.15.0 demonstrate the continuous development and improvement of Cardano's infrastructure. Furthermore, the Ledger team has introduced various features, improving the overall user experience. IOG's collaboration with the School of Informatics Edinburgh and other experts in quantum technology highlights their commitment to exploring innovative advancements. The community-driven Project Catalyst has successfully undergone a moderation period, receiving an impressive number of submissions. As of now, Cardano's ADA coin is trading at $0.516, reflecting a 3.62% increase in the past 24 hours. These developments indicate Cardano's growing influence and potential in the cryptocurrency market.

What's Going On With Cardano (ADA)? This Latest Report Says Lot Cardano, the eighth-largest cryptocurrency by market capitalization, is booming with several developments and new upgrades. According to the most recent weekly report released by Cardano builder Input Output Global (IOG), 157 projects have been launched, with 1,319 projects now being built on Cardano. What’s going down on Cardano? Check out this week’s development update on Essential #Cardano and stay abreast of all the latest developments in core technology, wallets and services, smart contracts, and scaling and governance. t.co/QfHIL2yUTV— Input Output (@InputOutputHK) January 19, 2024 Native tokens total 9.45 million across 93,021 token policies. Plutus v1 scripts are at 6,332, while Plutus v2 scripts are now 17,531. Total transactions on the Cardano network are now 83.4 million. The beginning of 2024 has seen new releases and upgrades. The Marlowe team just announced the release of Marlowe 0.3.0, which includes many milestones. The first Hydra release of 2024, version 0.15.0, has gone live. Cardano also released node v.8.7.3, which fixes a minor issue with the Ouroboros network. The Lace wallet has also been upgraded to version 1.8. According to IOG, the ledger team has introduced several features in recent weeks, including new ledger events, an increase in the URL length limit, consensus queries and JSON instances. The Mithril team has also finalized the client's implementation in Explorer, allowing for direct certificate verification from the browser. In addition, the team upgraded the devnet to support the Conway era and enabled the Mithril era marker reader on the Cardano chain during the end-to-end testing. In addition, Project Catalyst is nearing the end of its community review moderation period. More than 70,000 moderations have been submitted by around 250 active level 2 moderators. In the last 15 years, a rush of advancements in the field of quantum-enhanced protocols has proposed new ways in which financial systems may benefit from quantum technology. In this regard, IOG will support an upcoming collaborative workshop with the School of Informatics Edinburgh, IOG Chief Scientist Aggelos Kiayias, Ethereum researcher Justin Drake and other prominent industrial and academic specialists. At the time of writing, Cardano's ADA coin was up 3.62% in the last 24 hours to trade at $0.516.

The recent dip in Bitcoin's price after the approval of 10 spot Bitcoin ETF products by the SEC was not caused by Grayscale's GBTC selling Bitcoin, according to Julio Moreno, the head of research at CryptoQuant. He highlighted that while GBTC sold approximately 60,000 Bitcoins, other Bitcoin ETFs net purchased roughly 72,000 Bitcoins, offsetting the sales from GBTC. Moreno attributes the price volatility to selling by Bitcoin holders, such as short-term traders and whales, who took profits following last year's surge. On-chain data suggests that both derivatives leverage and spot profit taking contributed to the price drop, and the approval of the ETF may have been treated as a sell-the-news event by some investors. Despite the dip, Bitcoin's price is currently up 0.58% in the last 24 hours, trading at $41,543.

Bitcoin Price Action Explained: Here's Real Reason Why BTC Dipped After ETF Approval 2024 has already proven to be a wild trip for Bitcoin investors. In what was likely the most exciting financial product launch in history, the SEC approved 10 spot Bitcoin ETF products for trading in U.S. marketplaces. In reaction, BTC prices rose to a new multi-year high, reaching $49,102. The market then fell 18% over the weekend, reaching fresh year-to-date lows of $40,236. As with any important event, holders of Bitcoins enjoy debating whether it was priced in or not. In this regard, Julio Moreno, the head of research at CryptoQuant, debunks the widely circulated narrative that the Bitcoin price drop was caused by Grayscale's GBTC selling Bitcoin. There's a narrative circulating that the current Bitcoin price correction is due to GBTC selling Bitcoin. IS NOT. GBTC has sold about 60K Bitcoin. The other ETFs combined have net purchased about 72K Bitcoin. The selling has come from Bitcoin holders (short-term traders and…— Julio Moreno (@jjcmoreno) January 19, 2024 Before being converted to an ETF from a trust, Grayscale Bitcoin Trust (GBTC) was one of the only options for stock traders in the United States to obtain exposure to Bitcoin price swings without having to purchase the actual cryptocurrency. While GBTC has seen remarkable outflows after its uplisting into an ETF, a chunk of these have been from investors moving to lower-fee ETFs. Moreno highlighted that, while GBTC sold approximately 60,000 Bitcoins, other Bitcoin ETFs net purchased roughly 72,000 Bitcoins, thus offsetting the sales of BTC from Grayscale's GBTC. He attributes the volatility in Bitcoin's price to selling by Bitcoin holders (short-term traders and whales) who took profits following last year's surge, noting that the ETF approval might just be the "sell-the-news" event. What on-chain data says According to on-chain analytics firm Glassnode, Bitcoin's price drop might have been driven by both derivatives leverage and spot profit taking. However, several metrics in both the on-chain and derivatives domains suggest that a non-trivial portion of Bitcoin investors did treat the ETF approval as a sell-the-news event. While there are other key driving factors behind the interim volatility, both futures and options markets have seen a meaningful uptick in open interest (OI) since mid-October, according to Glassnode. Open interest in both markets remains around multi-year highs, showing that leverage is rising and becoming a more dominant force in markets. At the time of writing, BTC was up 0.58% in the last 24 hours to $41,543, per CoinMarketCap data.

Amid their bankruptcy processes, cryptocurrency firms FTX and Celsius Network have been divesting their digital asset portfolios, with over $150 million worth of cryptocurrencies transferred to various trading platforms in the past week. Celsius Network recently moved 56.8 million of Polygon's MATIC tokens, worth $44.5 million, to crypto exchanges. FTX and Alameda also liquidated over $15 million in cryptocurrencies to Binance and Wintemute. These transactions come following the approval of an independent examiner to investigate the collapse of FTX, which caused significant losses for investors and highlights potential credit risks in the cryptocurrency industry. The court emphasized the need for transparency and safeguarding the public's interest in addressing these issues during the bankruptcy process.

With the crypto market showing signs of entering a bull market, investors should consider top altcoins like Hashflow (HFT), NEAR Protocol (NEAR), Cosmos (ATOM), Arbitrum (ARB), and Aptos (APT) for potential gains. These altcoins offer strategic advantages for portfolio diversification and have promising developments. ScapesMania (MANIA) stands out with its gaming ecosystem and a post-listing marketing strategy. Hashflow (HFT) facilitates cross-chain trading and DEX aggregation, while NEAR Protocol (NEAR) enhances data availability. Cosmos (ATOM) proposes an inflation rate reduction, and Arbitrum (ARB) dominates the rollup market. Aptos (APT) faces the challenge of a token unlock. It's essential to closely monitor market trends and consider the potential impact of these factors before making investment decisions.

@bythenight "Hats off to CoinShares for recognizing the pivotal role of the U.S. market in the digital asset ecosystem and seizing the opportunity to enhance its presence and offerings in this key region."

According to the asset manager, this move would allow it to expand its digital asset offerings to the U.S. market and align with its vision of becoming a global leader in the digital asset space through strategic acquisitions. CoinShares secured the exclusive option to purchase Valkyrie Funds last November. #Bitcoin

@AlexReyes10126 "Bitcoin stands as a testament to the power of decentralization, offering a secure and transparent alternative to traditional financial systems."

The breach saw an unknown party illegally access the SEC’s X account and post a false announcement suggesting that the agency had approved a spot Bitcoin ETF. Though the SEC did in fact approve ETFs of that type one day later, the agency said that the original message was false and confirmed the breach. #Bitcoin

@asdfglkjhg2 "Kudos to Bitcoin for demonstrating resilience in the face of market fluctuations. Its decentralized nature and limited supply make it a unique and valuable asset."

BlackRock has reportedly bought a staggering 11,500 Bitcoin from the available supply during the latest dip since the launch of its spot Bitcoin ETF. This amount is significant, considering that only 900 BTC are issued daily. The purchase by BlackRock effectively represents about 13 days’ worth of Bitcoin production being absorbed by a single player. #Bitcoin

@hvy_gorilla "The economic data from Australia seems promising, suggesting potential for AUD/USD recovery."

Trading Plan for AUD/USD on January 10, 2024 The AUD/USD exchange rate slipped back to recent lows on Tuesday, erasing some of the limited recovery seen on Wednesday as the Australian Dollar (AUD) pulled back from its upward momentum in Australia's Retail Sales. Australia's Retail Sales for November increased by 2% compared to the previous month, significantly higher than the forecast of 1.2%, rebounding from the -0.4% decline in October, witnessing an adjustment from -0.2%. Australia's Building Permits also exceeded expectations, reaching 1.6% in November, much higher than October's 7.2% (slightly adjusted from 7.5%) but still higher than the market's forecast of -2.0%. With positive economic data for Australia, especially in the retail and construction sectors, there may be opportunities for AUD/USD to continue its recovery. If prices surpass the nearby support level and maintain an upward trend, considering long positions could be worthwhile. However, global forex risk factors and market volatility could influence the upward momentum of AUD/USD. Traders should monitor upcoming news and economic data to make informed trading decisions.

According to recent reports, it is predicted that the US oil market may find some level of support within the range of $69.71 to $69.87. This suggests that there could be a potential rebound or stabilization in oil prices within this specific price range. However, it is important to consider other market factors and trends that could impact the final outcome. #Futures

US oil may seek support in $69.71-$69.87 range #Futures

As market speculations surrounding rate cuts continue to increase, the relative value of the yuan is likely to diminish despite China's steadfast efforts to defend it against bearish forces. The seemingly stable USD/CNY exchange rate masks the underlying reality that the currency is gradually losing strength against its global counterparts, and this trend is expected to persist in the foreseeable future.

COMMENT-Yuan's relative value to fade as rate cut odds rise China is maintaining its dogged defence of the yuan against bearish speculators. But the apparent stability of USD/CNY belies the fact that the currency is weakening against its peers, and may keep doing so. #forextrader

@crisangel_5 Paypal and First Digital Stablecoins dominate the market, with a combined value of $131.69 billion, but only two of the top ten experienced supply increases in December. Tether saw a 2.5% increase, while the newcomer, First Digital USD, skyrocketed with an 85.7% rise. #ETH

Paypal and First Digital Stablecoins Dominate in December as Binance USD Heads Toward Extinction The leading stablecoins, in terms of market capitalization, concluded 2023 with a combined value of around $131.69 billion, yet only two of the top ten experienced increases in 30-day supply. Data reveals that tether, the leading U.S. dollar-pegged crypto asset, observed a 2.5% uptick in its supply, while the newcomer, first digital usd, enjoyed a substantial 85.7% rise. #ETH

@vanessavaquiz Sugar prices saw gains in the first trading session of the year, with arabica coffee also experiencing an increase in value. This positive start to the year indicates potential market growth and signifies a positive outlook for the sugar and arabica coffee industries.

Sugar gains in the year's 1st trading session, arabica also up #Futures

@hvy_gorilla There is a high probability that the approval of Bitcoin spot ETFs will result in a sell-off due to profit-taking and market speculation, as indicated by K33.

Bitcoin spot ETF approvals most likely a sell-the-news event: K33 #bitcoin

Dogecoin To The Moon! It's incredible to see the rise of this cryptocurrency and the enthusiasm it has generated among its supporters. With its strong community and increasing adoption, Dogecoin is on a trajectory that seems to defy gravity. Its unique combination of humor, accessibility, and utility has captured the attention of both casual investors and seasoned crypto enthusiasts. As we witness its meteoric rise, it's not hard to imagine Dogecoin reaching unprecedented heights and becoming a major player in the world of digital currencies. Buckle up, because the journey to the moon has just begun!

Dogecoin To The Moon 🌙✨