In just 11 months since the launch of the #ETF Bitcoin funds, the capital inflow into these funds has reached 30.7 billion USD, far surpassing the record of 4.8 billion USD set by the gold king SPDR Gold Shares ETF (GLD) in 2004.

Statistics from Bloomberg show that these new ETFs have entered the top 0.1% of the most successful ETFs in the 30-year history, outperforming more than 5,500 competitors.

Now, many giants are aiming to expand their crypto ETF portfolio to include tokens such as #XRP, #SOL, #LTC, and #HBAR.

Unverified reports suggest that the UAE holds $40 billion #Bitcoin . This could potentially make the UAE one of the largest cryptocurrency holders.

Official data on countries holding $BTC shows that the US leads with 207,189 BTC, worth nearly $19.76 billion.

China closely follows with 194,000 BTC worth approximately $18.5 billion, while the UK holds 61,000 BTC, equivalent to $5.82 billion.

If the UAE indeed holds $40 billion in Bitcoin, this figure would surpass the total holdings of the US and China.

A cash flow of $BTC has flowed out from spot exchanges in the past few hours.

Some of #Bitcoin is being transferred to derivative instruments, while some others are being transferred to cold wallets.

The net inflow into US spot ETFs on December 17 was recorded at +493.9 million USD for $BTC and +144.7 million USD for $ETH

- The net inflow of BTC ETFs has remained positive for 14 consecutive trading days.
- BlackRock's iShares Bitcoin Trust (IBIT) salvaged the situation with a large inflow of 6,969 BTC (741.4 million USD). This ETF currently holds approximately 549,925 BTC (57.19 billion USD).
- On the other hand, the Fidelity Wise Origin Bitcoin Fund (FBTC) saw its largest outflow yesterday at 128.2 million USD.

The total capital inflow after 236 trading days now stands at 36.74 billion USD.

$BTC : Should you start taking profits?

If you are trading #Bitcoin , monitoring the S2F Reversion Metric can be a useful tool to time your profit-taking or buying in. Here is some important information you need to know:

This is an indicator that compares the actual Bitcoin price with the predicted value according to the Stock-to-Flow (S2F) model.

This data helps you identify what level the market is at:

- Below value (buy opportunity), reasonable,
- Or too hot (profit-taking opportunity).

On September 11th, when Bitcoin reached a price of $57,000, the S2F Reversion index dropped below 1, signaling a buy.

Currently, if the S2F Reversion index exceeds 2.5, that is when you might consider starting to take some profits. When it goes above 3, taking more profits will be a safer decision.

IMPORTANT ECONOMIC CALENDAR FOR THE WEEK (16/12 - 20/12)

⏰December 16
21:45 Purchasing Managers' Index (PMI) - Manufacturing (December)
21:45 PMI Services Index (December)

⏰December 17
20:30: Core Retail Sales (Month over month) (November)
20:30: Retail Sales (Month over month) (November)

⏰December 18
22:30 Crude Oil Inventories

⏰December 19
02:00 FOMC Economic Projections
02:00 FOMC Statement
02:00 Interest Rate Decision
02:30 FOMC Press Conference
20:30 Gross Domestic Product (GDP) (Quarter over quarter) (Q3)
20:30 Initial Jobless Claims
20:30 Philadelphia Fed Manufacturing Index (December)
22:00 Existing Home Sales (November)

⏰December 20
20:30 Core PCE Price Index (Month over month) (November)
20:30 Core PCE Price Index (Year over year) (November)

This week's important news has a significant impact on interest rate decisions, so please pay attention to generate trading opportunities.

A large amount of #Bitcoin has been withdrawn from spot exchanges, especially in recent days.

This data has been observed while the price is rising, indicating that investors are continuing to accumulate Bitcoin. It seems that investors are anticipating a new ATH for Bitcoin.

ECONOMIC CALENDAR TO NOTE THIS WEEK (12/11 - 12/12)

⏰
December 11
20:30 Core CPI (Month over month) (November)
20:30 Consumer Price Index CPI (Year over year) (November)
20:30 Consumer Price Index (CPI) (Month over month) (November)
22:30 Crude Oil Inventories

⏰
December 12
20:30: Initial Jobless Claims
20:30: Producer Price Index PPI (Month over month) (November)

Important news this week is #CPI causing strong fluctuations, so be aware to generate trading opportunities.

$ETH has surpassed the resistance level of $4,000 and looking more broadly on the W frame, the price is moving within a bullish channel targeting $16,000 if it breaks out strongly like the 2016-2017 period.

When $ETH = $16,000, it will push the market capitalization of this altcoin above $1 trillion for the first time in history.

Recently, the ETH ETF flow has also been very good, if this trend continues and strengthens like the early BTC ETF phase, it will be very positive, forming a sustainable bullish foundation.

Most liquidated assets in the past 24 hours

$BTC $ETH $XRP #DOGE #SOL #SUI #WLD #MORPHI #PNUT

Spot investors are still maintaining their positions and are not in a hurry to sell off. This shows a high level of confidence in the long-term potential of #Bitcoin .

The Futures market seems hesitant to engage in buying, which may be due to investors being uncertain about the price trend.
There is an important support zone of $BTC in the range of $90,000 to $93,000, and if the price holds steady here, stability or even a price recovery may occur.

If the price drops below $89,000, a sell-off may emerge, weakening the market.

Coinbase Premium & MA Index Shows Uptrend of #Bitcoin
It's up to 99k again:

- Coinbase Premium: An index that measures the difference in Bitcoin price between Coinbase and other exchanges. A high level of this index shows strong demand for Bitcoin on Coinbase.

Golden Cross appears when the short-term MA (24 hours) crosses above the long-term MA (168 hours), signaling an uptrend => Currently, Bitcoin's long-term MA has turned from bearish to bullish, creating a positive sign for price recovery.

The price of $BTC is also fluctuating in a narrow range, and if there is enough demand, Bitcoin can "break out" and continue to increase in price.

Investment demand of #Bitcoin from retail investors has surged, reaching the highest level since 2020!

This is sustaining strong buying power even as long-term investors begin to take profits.

🔹History: An increase in retail may signal a short-term price peak, but combined with interest from institutions, it could create sustainable growth momentum.
🔹Sideways phase: Bitcoin may fluctuate before targeting 100k USD, where retail demand could rise again.

TOP 7 trending search projects on Coingecko

Bitcoin Whale Activity After Trump Election

After the election, there was an increase in the amount of $BTC transferred to exchanges from whale wallet addresses. This may indicate that whales are preparing to sell Bitcoin, but there is no clear sign of them selling yet.
#SOPRIndex: Despite the increase in Bitcoin transfers to exchanges, the adjusted SOPR (Spent Output Profit Ratio) index has not shown significant profit-taking from whales. Therefore, if this index does not increase sharply, it is possible that whales have not sold at a profit.

In fact, dep #Bitcoin on the exchange may be to prepare for other purposes such as insurance, OTC trading, or as collateral.

Whales may be adopting a wait-and-see strategy to review the market situation, not rushing to sell immediately.

With 1 billion #USDT just minted, overall, since November 6, Tether has minted a net amount of 16 billion USDT on Ethereum and Tron.

Of this, 2 billion USDT has been minted in the past 4 days.

Since the U.S. presidential election in November, the price of $ETH has increased by more than 140%. However, #Ethereum has yet to surpass its ATH in March 2024.

Capital inflow into ETF funds has surged. The trading volume of ETH ETFs has increased by about 300% compared to the months of September and October.

The price chart in November has formed a rising wedge.

If the capital inflow from institutions into Ethereum continues to be sustained, the price of Ethereum may surpass its previous ATH, with a scenario similar to Bitcoin recently.
Here comes a beautiful scenario for #ETH/

Outstanding fundraising projects last week

Indicator #SOPR Ratio has just signaled a golden cross, a sign that only appears in a bull market.

This signal occurs 1 or 2 times throughout the entire growth cycle, and this is the second time a positive signal has appeared in the current growth cycle, starting from January 2023.

After the golden cross appears, the market often begins a strong rally within 2 months. The upcoming rally is likely to be a "strong rally in the late stage of the growth cycle."

As the market approaches the later stages of the cycle, the growth margins are usually larger, while the decline/correction phases are shorter.

If this strong rally occurs as forecasted by the indicator, in the late 2024 to Q1 2025, new capital flows and additional funding can be expected to pour into the market.

#Bitcoin

ECONOMIC CALENDAR FOR THE WEEK TO NOTE (02/12 - 06/12)

⏰ Date 02/12/2024
21:45: Purchasing Managers' Index (PMI) - Manufacturing (November).
22:00: ISM Manufacturing Index (November).

⏰ Date 03/12/2024
22:00: JOLTS Job Openings (October).

⏰ Date 04/12/2024
20:15: ADP Non-Farm Employment Change (November).
21:45: PMI Services Index (November).
22:00: ISM Non-Manufacturing PMI (November).
22:30: Crude Oil Inventories.

⏰ Date 05/12/2024
01:45: Chairman Powell Speech.
20:30: Initial Jobless Claims.

⏰ Date 06/12/2024
20:30: Average Hourly Earnings (Month over Month) (November).
20:30: Non-Farm Payrolls (November).
20:30: Unemployment Rate (November).