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Crypto News

Bitcoin Breaks Below $97K with $555M Liquidated as US Economic Indicators Strengthen

Bitcoin dropped below $97,000 on Wednesday, losing its grip on the $100,000 level. The decline followed a series of positive US economic reports Tuesday, which raised fears that a potential inflation rebound could delay the Federal Reserve’s plans to ease monetary policy. U.S. stocks gave up early gains after the Labor Department reported an unexpected increase in job openings for November. Additionally, a separate report showed that services sector activity accelerated in December, with input prices hitting their highest level in almost two years. The data pointed to a strong economy, pushing benchmark 10-year Treasury yields up to 4.699%. This marked their highest level since April 26.

Nation States Risk More by Ignoring Bitcoin Than Allocating It: Fidelity

Fidelity claims nation states face greater risks by avoiding Bitcoin allocations than by embracing them. In a report on Tuesday, Fidelity Digital Assets analyst Matt Hogan highlighted that many countries have indirectly acquired Bitcoin through government seizures and recoveries tied to illegal activities, rather than by making deliberate, long-term investments.

Czech Republic Central Bank Explores Bitcoin as Reserve Asset

Aleš Michl, Governor of the Czech National Bank (CNB), discussed on Monday the possibility of including Bitcoin in the country’s foreign exchange reserves to diversify its asset holdings. His remarks reflect a growing government interest in cryptocurrency as a potential savings tool. Michl noted that he had proposed purchasing Bitcoin but clarified that no immediate plans exist for such action.

Data: MicroStrategy and BlackRock IBIT jointly hold over 1 million BTC, worth nearly 100 billion dollars

ChainCatcher message shows that MicroStrategy and BlackRock IBIT currently hold a total of 1,000,593 BTC, worth nearly 10 billion dollars.

Bitcoin Spot ETF Flow

The highest net inflow on Jan 7 was iShares Bitcoin Trust, with a net inflow of $596.11 million. ARK 21Shares Bitcoin ETF saw a net outflow of 212.55 million, according to SoSoValue.