$4 Billion in Volume on the First Trading Day of Spot Bitcoin ETFs
The 11 approved spot Bitcoin ETFs reached a total trading volume of 4 billion dollars in their first trading days. Grayscale, BlackRock and Fidelity accounted for the majority of volume. While the idea of “buy the expectation, sell the reality” is being discussed, such a high trading volume on the first day can be considered positive for Bitcoin. When we examine the largest contributors to this volume level, we see BlackRock with 942 million dollars and Fidelity with 628 million dollars.
Consumer Prices Increased by 0.3% in December, Higher Than Expected, Raising the Annual Rate to 3.4%
The consumer price index rose 0.3%, above the 0.2% forecast, at a time when most economists and policymakers see inflation pressures easing. On a 12-month basis, CPI (Consumer Price Index) ended 2023 with an increase of 3.4%. Core CPI, which excludes volatile food and energy prices, rose 0.3% mom and 3.9% yoy. This slightly exceeded the expected 0.3% and 3.8% respectively. The increase was largely driven by higher housing costs. This category rose by 0.5% over the month and accounted for more than half of the Core CPI increase. On an annual basis, housing costs rose by 6.2% and were a major factor in pushing inflation higher.
Ark Invest Sells $4.4 Million Coinbase Stake and $4.3 Million Robinhood Stake
Ark Invest, led by Cathie Wood, sold about $4.4 million worth of Coinbase shares and almost $4.3 million worth of Robinhood shares on Thursday. According to the company’s latest trading statement, the ARK Innovation ETF was listed on Coinbase Global Inc. and 26,301 shares of Robinhood Markets Inc. sold 341,592 shares of the company. On the same day, ARK Next Generation Internet ETF also disposed of 4,980 shares of Coinbase and 23,838 shares of Robinhood.
MicroStrategy’s Bitcoin Is Now Worth $1 Billion More Than the Company’s Actual Value
This month the data software company’s shares have fallen by more than 20% and the company has lost nearly $4 billion in value. Bitcoin, by contrast, rose almost 10% in January. Yet MSTR has almost quadrupled in the last 12 months. MicroStrategy’s financial statement shows that it holds 189,150 BTC ($8.7 billion). This corresponds to a valuation higher than the current value of the company.
SEC Asks Federal Court to Compel Ripple to File Financial Statements
Lawyers for the US Securities and Exchange Commission have filed a motion in federal court to force Ripple to produce certain documents related to the enforcement action. The SEC asked Judge Sarah Netburn to issue an order requiring Ripple to submit financial statements and ‘Institutional Sales’ contracts from 2022 to 2023.
Circle Moves to IPO
USDC issuer Circle has filed for an IPO with the US Securities and Exchange Commission. Circle filed a draft registration statement on Form S-1 with the SEC as part of the IPO process. In addition, it is not yet clear how many shares will be offered and the IPO price.
Hypersign and Chainlink Announce On-Chain KYC
Through its groundbreaking collaboration with Chainlink, Hypersign is revolutionizing decentralized finance by integrating information verification processes into blockchain. Using Chainlink functions, Hypersign offers an innovative approach to On-Chain KYC Verification by combining Configurable Identities (DID), Verifiable Identities and Zero-Knowledge Proofs. This collaboration addresses the pseudonymization of blockchain transactions while ensuring user privacy and regulatory compliance. Furthermore, Hypersign’s decentralized identities play a critical role in bridging the gap between traditional finance and decentralized finance (DeFi). By enabling cross-chain verification of KYC data, this collaboration offers a revolutionary solution that moves the financial industry into a decentralized and interconnected future. Hypersign’s latest testnet release, Prajna, will be launched on January 19th and the mainnet will be active shortly after.
Decision to Reduce Personal from Near Foundation
The Near Foundation has announced that it is preparing to reduce its team by 40% in 2023, despite the growth in the Near ecosystem. According to Near Foundation CEO Illia Polosukhin, the cuts will primarily take place in the marketing, business development and community teams. According to Polosukhin, the downsizing of the team was decided after a recent review, with feedback indicating that the foundation’s activities were not as effective as they could be and were moving too slowly.
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BITCOIN(BTC)
Bitcoin is priced at $ 46,000 with a 0.58% loss in value as of today morning hours. The first ETF turned over $4 billion in volume on its first trading day and rose to almost $49,000 by the opening of the US stock markets. After being under selling pressure from the $ 9,000 region and retreating to $ 45,600, it started to show a slight increase. 45,500 is the support level and 47,200 dollars is the resistance level. A horizontal price movement for a while would be healthier for Bitcoin.
ETHEREUM(ETH)
ETH, which lost 0.91% as of morning hours, is priced at $ 2594. After the ETF news, the price increased as it came to the agenda that the next product could be ETH. After rising up to $ 2690, there were pullbacks up to $ 2570. 2570 dollars is the first support level and if the price stays here, rises up to 2750 dollars can be seen. In downward pricing, $ 2455 seems to be the first strong support level.
RIPPLE(XRP)
XRP is priced at $0.5981 with a 0.73% loss in value as of morning hours. A critical zone of 0.60 dollars seems to have been lost again. 0.59 may now be the new strong support zone. With the upward reaction from here, rises up to $ 0.65 can be seen. In case of a downward break, retreats up to $ 0.55 may occur.
AVALANCHE(AVAX)
AVAX is priced at $ 39.08 with a 0.51% loss in value as of morning hours. After receiving support at $ 37.57, there was an increase up to $ 41.85. After that, it seems to have found support at $ 38.38. In the continuation of the upward movement, the $ 45 level can be seen again. If the 37.57 level breaks down, the first support appears to be the $ 36 region.
SOLANA(SOL)
SOL is priced at $ 98.9, down 0.97% as of morning hours. When we examine the four-hour chart, we see that the retracement movement that started with the failure to cross the resistance zone of 102.3 continues and the rising trend line is broken downwards. If this movement continues, a downward movement can be seen up to the support zone of 95 dollars. On the other hand, a move up to the $102 level could be seen on the upside break of the rising trend line.
CHAINLINK(LINK)
With a 0.97% loss of value as of morning hours, LINK is priced at $ 14,870. When we examine the four-hour chart, we see that there is an image similar to the ascending triangle pattern. If the 15,364 level, which is the resistance zone, breaks upwards, a movement towards the $ 16 level can be seen. Depending on the persistence of this movement, it may continue to the $ 17 level. In case of a pullback, the rising trend line can be followed as support. The support level of the rising trend line can be followed as 14.650.
LPT
LPT is priced at $ 9.17 with a 20.42% gain in value as of morning hours. When we examine the four-hour chart, we see that the movement started with the upward break of the $ 7.57 level, which is the resistance zone. If the rise continues, the 9.50 level can be followed as resistance. In case of a pullback, the $ 9 level can be followed as support.
BCH
As of morning hours, BCH is priced at $ 291 with a 5.4% gain in value. When we examine the daily chart, we see that the rising channel movement continues and the price is momentarily at the top of the channel. In case of persistence above this region, $300 and $310 levels can be tested. In case of a pullback, 280 dollars can be followed as support.
