📢 Mt. Gox moves a large amount amid market volatility
The defunct exchange Mt. Gox is once again shaking the foundations of the cryptocurrency market after a massive movement of bitcoin valued at nearly $50 million. This episode revives historical concerns about the platform's influence on the market, especially during times of high volatility. In this report, we break down the details of this latest movement.
🎄 Many traders and investors were hoping for a "Christmas rally" for bitcoin at this time, which has not yet materialized.
💸 Some announcements from the Fed and its chairman, Jerome Powell, influenced the price of bitcoin, causing it to approach 90,000 dollars. 📈 Although the fluctuations are challenging, the long-term outlook for bitcoin remains optimistic, and there are high expectations that large companies will invest in 2025.
On December 18, a user on Bitcoin Talk, identified as DTCxNMC, commented that he was "hodling" despite the price drop. What originally was a typo of the word "hold," which means to keep, became a symbol that is now used by all bitcoiners, after the mistake received thousands of comments replicating the word HODL. In times of significant price drops, the term HODL gains strength.
📢Donald Trump has appointed Bo Hines as the executive director of the "Cryptocurrency Advisory Council".
🚀The Council will seek to create a conducive environment for growth and innovation in the digital assets industry in the U.S.
💡This new advisory body aligns with Trump's promises, such as establishing a strategic national reserve of bitcoin and promoting friendly regulations towards cryptocurrency mining.
El Salvador challenges the IMF and increases its bitcoin purchasing strategy. Nayib Bukele reported that his government bought 11 BTC valued at over 1 million dollars yesterday, December 21. In this way, it accumulates 5,994 BTC, equivalent to an amount exceeding 580 million dollars.
🌐 Michael Saylor, president of MicroStrategy, has proposed a plan to lead the digital economy of the U.S.
📊 Saylor advocates for a taxonomy of digital assets, which aims to regulate the market, increase trust, and foster innovation.
💡 His plan includes clear rights and responsibilities to legitimize digital assets, proposing efficient regulations that minimize bureaucracy and promote innovation.
🏦 Groupe BPCE, one of the largest French banks, obtained regulatory approval for the launch of investment products and services with bitcoin and cryptocurrencies, through one of its subsidiaries.
✅ The entity received approval from digital asset providers (PSAN) and authorization from the Financial Markets Authority (AMF).
💰It is proposed that the objective of its new services be aimed at its portfolio consisting of more than 35 million customers.
Ending the week with the cryptocurrency market in the red, Bitcoin has fallen more than 5% in the last 24 hours and is now hovering over USD 92,400. 📉
Ethereum is down more than 8% and is now hovering over USD 3,100. 😟
The ones that have fallen the most are: Bitget Token with a drop of more than 17%, followed by Pepe, Stellar and Dogecoin, which are down more than 14%.