Bitcoin’s outlook remains bullish despite macro setback: Grayscale
The upcoming US presidential inauguration could be a positive catalyst, the asset manager said.
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The upcoming US presidential inauguration could be a positive catalyst, the asset manager said.
In the past 24 hours, $521 million has been liquidated from the crypto market.
Join Cointelegraph’s editorial team as they reflect on Bitcoin’s breakout year, the landmark ETF approvals and what lies ahead for crypto in 2025.
US-based spot Bitcoin ETFs now hold over 5.7% of the entire Bitcoin supply, with analysts seeing it as a price catalyst toward $200,000.
Bitcoin analysts predict a rally to $120,000 during the first month of 2025, with nearly $45 billion worth of stablecoin reserves awaiting deployment on Binance.
Bitcoin remained resilient despite the options expiry, peaking above $97,330 one hour after the year’s last options expiry event.
The fund aims to offer exposure to MicroStrategy’s convertible bonds, among others.
On Dec. 31, Israel’s asset managers will launch six mutual funds tracking Bitcoin’s price movements.
Bitcoin struggles below $100,000 amid holiday illiquidity, but analysts predict a rally above $105,000 post-Christmas, citing macro trends.
VanEck has said a US Bitcoin reserve could majorly slash the national debt if the cryptocurrency grows to $42.3 million a coin by 2049.
