"Everyone is a genius at least once a year. The real geniuses simply have their bright ideas closer together."
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Happy Tuesday Folks! Bitcoin is trading up at $45,679.68. Bitcoin is on fire as we await the announcement of the Spot Bitcoin ETF. Let's get on with the news...
, we learned that Ethereum founder Vitalik Buterin declared that the role of single slot finality (SSF) is the most straightforward approach to tackling the majority of shortcomings on the Ethereum Proof-of-Stake (PoS) design.(3) Today, Bitcoin rises past $45,000 and targets $48K amid US spot bitcoin ETF approval anticipation; $73M in short liquidations.(10)
Cryptocurrency hedge funds have generated an average return of 44% this year through December 20, marking a rebound from a 52% loss in 2022, ranking as the best among 29 strategies monitored.
Key US economic events this week include the release of reports on labor market trends and the minutes from the Fed's last policy meeting and Investors are keen to understand the central bank's shift to easing monetary policy and the schedule for expected interest-rate cuts. Bitcoin leads crypto market gains with a 7.5% surge, reaching an intraday high of $45,500, the highest since March 2022.
January 10 brings the deadline for the spot Bitcoin ETF, causing a surge in paperwork at the SEC and BlackRock, striving for Bitcoin ETF approval, faces uncertainty as they haven't heard from the SEC, signaling potential delays. Polymarket traders see 89% chance of SEC approving Spot BTC ETF by Jan. 15. Grayscale’s latest spot Bitcoin ETF amendment omits authorized participants.
Widely followed economist Alex Kruger is issuing a warning to traders about Bitcoin (BTC), saying that he believes the U.S. Securities and Exchange Commission (SEC) approving spot market BTC ETFs will be a sell-the-news event. Meltem Demirors says BTC’s run-up since November is being primarily driven by the the inflow of funds into publicly listed BTC miners which are enjoying increased fundamental strength and hitting all-time highs in terms of hash rate. Morgan Creek Capital founder and CEO Mark Yusko is saying that the crypto industry faces positive prospects in 2024; it's “going to be an incredibly powerful” year for crypto, aided by the alignment of various factors.(2)
Ethereum price is eyeing an upside break above the $2,440 resistance. ETH could rally like Bitcoin if there is a close above the $2,500 level. Solana is up over 10% and gaining pace above $105. SOL price seems to be setting up for an upside break above the $125 resistance zone.
FTX bankruptcy could go on for years, legal expert says. Bill Lou, CEO and co-founder of Nest Wallet, fell victim to a crypto phishing attack, draining 52 stETH ($125,000). The attack was related to a fake airdrop guide for the new LFG token, which seeks to onboard Ethereum big fee spenders to Solana. South Korea’s Orbit bridge lost $80 million in a hack involving a recurrent theme: private key compromise.
Podcast of the Day: Aleks Svetski - Bitcoin is Uber Money | Bitcoin Matrix
Other Podcast
- Read_787 - Usury, Your Bank, and You | Bitcoin Audible
- 2024, the Year of the Bitcoin Bull with Lyn Alden | What Bitcoin Did
