The Bitcoin & Cryptocurrency Investment Show podcast.
Hey there, crypto enthusiasts I'm Crypto Willy, and welcome to The Bitcoin & Cryptocurrency Investment Show. Today, we're diving into the major Bitcoin investment news from the past two weeks, covering institutional adoption, ETF updates, and market analysis.
Let's start with the recent market movements. Bitcoin took a hit, dropping to $93,246.26 on December 23, 2024, a 1.94% decline from the previous day. This was largely due to ETF outflows and market uncertainty, with the BlackRock Bitcoin ETF experiencing its largest outflow since launch, totaling $72.7 million on December 20[1].
However, the market has shown resilience, with Bitcoin recovering to around $96,000 as of today, December 24, 2024. Institutional investors are still optimistic about Bitcoin's future performance, with funds like the US BTC ETF, El Salvador, and Japanese listed companies continuing to purchase BTC[2].
Institutional adoption is on the rise, with ETFs, governments, and companies like MicroStrategy now holding 31% of all Bitcoin, double the amount from last year. This is a significant indicator of growing confidence in the cryptocurrency[2].
Looking at fund flows, Bitcoin ETFs have seen significant outflows in the past three trading days, totaling $1.17 billion. Fidelity led the exodus with an outflow of $146 million, while BlackRock bucked the trend with an inflow of $31.7 million[4].
Despite these outflows, the total inflow to date for these institutional investment products is $35.8 billion, highlighting the huge demand for Bitcoin-based ETPs. BlackRock's iShares Bitcoin ETF is now in the top 35 of all ETFs ever launched, with $53.3 billion in assets under management[4].
Expert opinions suggest that the recent Federal Reserve interest rate cut has influenced market reactions, with Chairman Jerome Powell's comments indicating limited future cuts, creating uncertainty among investors[1].
Looking ahead to 2025, we can expect a crypto policy blitz in the US, with President-elect Donald Trump's administration and an expanding lobbying effort in statehouses pushing for more crypto-friendly policies. This could lead to increased government buy-in, stabilizing Bitcoin's future price swings and giving it more legitimacy[3].
That's all for today, folks. Stay tuned for more updates on the crypto market, and remember, always do your own research before making any investment decisions. Until next time, I'm Crypto Willy, signing off.
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