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Crypto Daily | Bitcoin Drops Below $97K; Significant Outflows Reported in U.S. Bitcoin Spot ETFs; Hut 8 Buys 990 Bitcoin

Crypto Daily is our column tracking crypto market trends, offering timely insights and valuable updates to keep you informed.Bitcoin Drops Below $97,000 with a 5.58% Decrease in 24 HoursAccording to B

Crypto Daily | Bitcoin Drops Below $97K; Significant Outflows Reported in U.S. Bitcoin Spot ETFs; Hut 8 Buys 990 Bitcoin

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That is going to change,” Wood said in an interview with Bloomberg Television. “So we are finally going to have price discovery as strategic buyers bid for these innovative companies. We’ll see how much they’re really worth.”</p><h3 id=\"id_2998881170\" style=\"text-align: start;\">Trump’s Crypto Project Buys Tokens Associated With Justin Sun</h3><p>Donald Trump’s crypto platform, World Liberty Financial, appears to have exchanged roughly $10 million of what’s known as wrapped Bitcoin launched through Coinbase Global Inc. for similar tokens associated with project adviser Justin Sun.</p><p style=\"text-align: start;\">A digital wallet belonging to the project on Wednesday swapped their entire holding of 103 cbBTC tokens for WBTC, the first widely adopted Bitcoin offshoot, according to blockchain data analytics firm Nansen. Wrapped Bitcoin tokens allow Bitcoin holders to participate in decentralized finance activities on the Ethereum blockchain. World Liberty has been promoted as a DeFi lending platform, though it hasn’t become operational yet.</p><h3 id=\"id_4069529334\" style=\"text-align: start;\">El Salvador Increases Strategic Bitcoin Reserves With $1 Million Purchase</h3><p>According to Odaily, El Salvador&#39;s Bitcoin Office announced on the X platform that it has transferred $1 million worth of Bitcoin into the country&#39;s strategic Bitcoin reserves. Earlier reports indicated that at 8:07 AM UTC+8, a wallet address associated with El Salvador purchased 11 Bitcoins valued at $1.07 million to bolster its strategic Bitcoin holdings.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/f26d057ad3a014bec69a0412ee070d03\" tg-width=\"1082\" tg-height=\"650\"/></p><h2 id=\"id_17859315\">Bitcoin Spot ETF Flow</h2><p>The Bitcoin spot ETF with the highest net outflow on Dec 19 was  <a href=\"https://laohu8.com/S/FBTC\">Fidelity Wise Origin Bitcoin Fund</a>, with a net outflow of $208.55 million, according to SoSoValue.</p><p>As of now, the total net asset value of Bitcoin spot ETFs is $109.66 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 5.74%.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/eda5b260ee5ac1e01121c22450e28872\" tg-width=\"1836\" tg-height=\"755\"/></p><p></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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That is going to change,” Wood said in an interview with Bloomberg Television. “So we are finally going to have price discovery as strategic buyers bid for these innovative companies. We’ll see how much they’re really worth.”</p><h3 id=\"id_2998881170\" style=\"text-align: start;\">Trump’s Crypto Project Buys Tokens Associated With Justin Sun</h3><p>Donald Trump’s crypto platform, World Liberty Financial, appears to have exchanged roughly $10 million of what’s known as wrapped Bitcoin launched through Coinbase Global Inc. for similar tokens associated with project adviser Justin Sun.</p><p style=\"text-align: start;\">A digital wallet belonging to the project on Wednesday swapped their entire holding of 103 cbBTC tokens for WBTC, the first widely adopted Bitcoin offshoot, according to blockchain data analytics firm Nansen. Wrapped Bitcoin tokens allow Bitcoin holders to participate in decentralized finance activities on the Ethereum blockchain. World Liberty has been promoted as a DeFi lending platform, though it hasn’t become operational yet.</p><h3 id=\"id_4069529334\" style=\"text-align: start;\">El Salvador Increases Strategic Bitcoin Reserves With $1 Million Purchase</h3><p>According to Odaily, El Salvador&#39;s Bitcoin Office announced on the X platform that it has transferred $1 million worth of Bitcoin into the country&#39;s strategic Bitcoin reserves. Earlier reports indicated that at 8:07 AM UTC+8, a wallet address associated with El Salvador purchased 11 Bitcoins valued at $1.07 million to bolster its strategic Bitcoin holdings.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/f26d057ad3a014bec69a0412ee070d03\" tg-width=\"1082\" tg-height=\"650\"/></p><h2 id=\"id_17859315\">Bitcoin Spot ETF Flow</h2><p>The Bitcoin spot ETF with the highest net outflow on Dec 19 was  <a href=\"https://laohu8.com/S/FBTC\">Fidelity Wise Origin Bitcoin Fund</a>, with a net outflow of $208.55 million, according to SoSoValue.</p><p>As of now, the total net asset value of Bitcoin spot ETFs is $109.66 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 5.74%.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/eda5b260ee5ac1e01121c22450e28872\" tg-width=\"1836\" tg-height=\"755\"/></p><p></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MARA":"MARA Holdings","COIN":"Coinbase Global, Inc.","CAN":"嘉楠科技","MSTR":"MicroStrategy","BTBT":"Bit Digital, Inc.","CLSK":"CleanSpark, Inc."},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109531040","content_text":"Crypto Daily is our column tracking crypto market trends, offering timely insights and valuable updates to keep you informed.Bitcoin Drops Below $97,000 with a 5.58% Decrease in 24 HoursAccording to Binance Market Data, Bitcoin has dropped below $97,000 and is now trading at $96,892, with a narrowed 4.32% decrease in 24 hours.Trump-Backed Spending Deal Fails in House, Shutdown ApproachesA spending bill backed by Donald Trump failed in the U.S. House of Representatives on Thursday as dozens of Republicans defied the president-elect, leaving Congress with no clear plan to avert a fast-approaching government shutdown that could disrupt Christmas travel.The vote laid bare fault lines in Trump's Republican Party that could surface again next year when they control the White House and both chambers of Congress.Trump had pressured lawmakers to tie up loose ends before he takes office on Jan. 20, but members of the party's right flank refused to support a package that would increase spending and clear the way for a plan that would add trillions more to the federal government's $36 trillion in debt.Hut 8 Buys 990 Bitcoin Hut 8 Mining Corp  said it has bought ~990 Bitcoin.The firm said the aggregate purchase price of the acquired BTC was ~$100 million, or an average of ~$101.7K apiece.The company's strategic BTC reserve now stands at 10,096 BTC.Cathie Wood Predicts a Wave of Startup M&A After Trump ElectionThe election of Donald Trump will usher in a wave of private-company purchases that had previously been slowed by red tape, investor Cathie Wood said in an interview in which she also reiterated her ultra-bullish view on Bitcoin.Wood, the founder of ARK Investment Management LLC, said changes at the Federal Trade Commission will unlock latent merger-and-acquisition demand and create “liquidity events” for venture capitalists.“M&A has been prevented by the FTC. That is going to change,” Wood said in an interview with Bloomberg Television. “So we are finally going to have price discovery as strategic buyers bid for these innovative companies. We’ll see how much they’re really worth.”Trump’s Crypto Project Buys Tokens Associated With Justin SunDonald Trump’s crypto platform, World Liberty Financial, appears to have exchanged roughly $10 million of what’s known as wrapped Bitcoin launched through Coinbase Global Inc. for similar tokens associated with project adviser Justin Sun.A digital wallet belonging to the project on Wednesday swapped their entire holding of 103 cbBTC tokens for WBTC, the first widely adopted Bitcoin offshoot, according to blockchain data analytics firm Nansen. Wrapped Bitcoin tokens allow Bitcoin holders to participate in decentralized finance activities on the Ethereum blockchain. World Liberty has been promoted as a DeFi lending platform, though it hasn’t become operational yet.El Salvador Increases Strategic Bitcoin Reserves With $1 Million PurchaseAccording to Odaily, El Salvador's Bitcoin Office announced on the X platform that it has transferred $1 million worth of Bitcoin into the country's strategic Bitcoin reserves. Earlier reports indicated that at 8:07 AM UTC+8, a wallet address associated with El Salvador purchased 11 Bitcoins valued at $1.07 million to bolster its strategic Bitcoin holdings.Bitcoin Spot ETF FlowThe Bitcoin spot ETF with the highest net outflow on Dec 19 was  Fidelity Wise Origin Bitcoin Fund, with a net outflow of $208.55 million, according to SoSoValue.As of now, the total net asset value of Bitcoin spot ETFs is $109.66 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 5.74%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":0,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":18,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}