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BTC Trades in Range, XRP Surges 18%, HBAR Gains 58%, ONDO Up 36%
Bitcoin (BTC) price remains steady, trading within a defined range for an extended period. Currently priced at $96,000, BTC has recorded a 2% decrease in the last 24 hours. Its 24-hour low and high are $94,482 and $97,741, respectively. Bitcoin’s market cap is $1.9 trillion, supported by a trading volume of $72 billion and a market dominance of 54.65%.
Additionally, the U.S. government has transferred another batch of Bitcoin valued at $1.9 billion. This movement comes as conversations about strategic crypto management continue to grow globally.
MicroStrategy Sells 3.7 Mln Shares to Buy Another $1.5 Bln of Bitcoin
Just over a month after announcing plans to raise $21 billion through stock sales to help fund additional purchases of Bitcoin, MicroStrategy Inc. is already almost halfway to its goal.
The company sold 3.7 million shares over the past week and used the proceeds to buy another $1.5 billion worth of Bitcoin, the fourth consecutive weekly purchase announced by the crypto hedge fund proxy.
The Tysons Corner, Virginia-based firm has only approximately $11.3 billion of stock issuance under its so-called at-the-market share program left to reach its three year goal, according to data compiled by Bloomberg. The company also aims to raise $21 billion through fixed income securities by 2027 and has been increasing those offerings as well.
Cleanspark Sinks 4% in Overnight Trading After Ernings Miss
CleanSpark reported full-year 2024 revenue of $378.97 million, missing analyst estimates of $397.32 million. The Bitcoin mining company reported a full-year adjusted loss of 69 cents per share, missing analyst estimates for a loss of 62 cents per share.
Total revenue was up 125% on a year-over-year basis. CleanSpark said it ended the quarter with 8,049 Bitcoin and $122.2 million in cash.
Mara Holdings Stock Dives 7% After Heavy Bitcoin Bets
Mara mined 907 Bitcoin in November, up a robust 26% over the October tally. Its hash rate -- essentially the speed at which its machines collectively process the calculations required to mine the cryptocurrency - increased 15% to over 46 exahash (EH) per second.
In addition to mining Bitcoin, Mara also actively buys it. In November it loaded up on 6,474 Bitcoin, putting its year-to-date total at 12,965.
Neither buying nor mining is a low-cost activity, so the company is going to the well again for more funds. It announced a new issue of senior convertible notes, which are to be sold in a private offering. The aggregate principal amount of the issue is $700 million, and they mature in 2031. They are zero-coupon securities, meaning that they pay no interest if left unconverted.
Bitcoin’s Push Toward $100,000 Runs Into a Wall of Resistance
Bitcoin bulls are starting to express some doubts after what seemed like an inevitable march toward a record high price of $100,000 loses momentum.
As Bitcoin’s price plateaus, interest is rising in other digital assets, such as second-largest cryptocurrency Ether and XRP, which have lagged the original cryptocurrency during its record price rise after the victory of President-elect Donald Trump. The former president has become a crypto advocate, raising expectations for friendlier US regulation of the often-controversial asset class.
Bitcoin Spot ETF Flow
The overall net outflow of the US Bitcoin spot ETF on Monday was $353.67 million. The total net asset value of Bitcoin spot ETFs is $103.91 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 5.49%.
The Bitcoin spot ETF with the highest net inflow on Dec 2 was iShares Bitcoin Trust, with a net inflow of $338.33 million. Following that was Fidelity Wise Origin Bitcoin Fund (FBTC), with a net inflow of 25.14 million, according to SoSoValue.
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