Suehyeon Lee

Recently, in the Ethereum (ETH) futures market, the 'market buy/sell ratio', which reflects investor sentiment, has been rising, leading to an optimistic outlook. On the 6th (local time), CryptoQuant author ShayanBTC analyzed, "After Ethereum's price rebounded from the $3,000 support level, market buy orders have significantly increased in the futures market. This indicates that investors are seeing a higher possibility of a short-term price increase for Ethereum and are building expectations for breaking the $4,000 resistance level." He further explained, "When the market buy/sell ratio exceeds 1, it means that the buying pressure is overwhelming the selling pressure, which is usually interpreted as a signal for the start of a bullish market. The current rise in the ratio shows investors' confidence and supports the expectation of an upward trend for Ethereum." Meanwhile, Ethereum is currently trading at $3,638.56 on CoinMarketCap, down 0.64% from the previous day.

MetaPlanet, which models itself after MicroStrategy in Japan, has announced plans to expand its Bitcoin (BTC) holdings this year. According to BeInCrypto on the 5th (local time), Simon Gerovich, CEO of MetaPlanet, stated, "We plan to expand the company's Bitcoin holdings to 10,000 BTC by the end of 2025." Previously, MetaPlanet adopted Bitcoin as a strategic reserve asset last year and is currently known to hold 1,762 BTC. The company plans to continue purchasing Bitcoin efficiently using methods such as loans, stocks, and convertible bonds.

Brad Garlinghouse, the CEO of Ripple, expressed optimism that the election of Donald Trump as President of the United States will invigorate the crypto industry, including Ripple. On the 6th (local time), Garlinghouse stated on his X (formerly Twitter), "As 2025 begins, the so-called 'Trump Effect' has materialized into a bull market. Ripple, in particular, is in a more optimistic situation, having been effectively blocked from operating in the U.S. for years due to the Securities and Exchange Commission (SEC) led by Gary Gensler." Thanks to this, Ripple is significantly expanding its hiring within the United States. Currently, 75% of the positions being hired are concentrated in the U.S., which contrasts with the past four years when hiring was primarily done overseas. Additionally, the number of new contracts signed in the U.S. in just six weeks after the 2024 presidential election has surpassed the records of the previous six months. Garlinghouse also noted, "The Trump camp is already accelerating innovation and job creation. Key figures like Scott Bessent, David Sacks, and Paul Atkins are participating in policy-making and have begun earnest efforts. Even before officially taking office, they are reviving the crypto industry," he assessed.

Over $50 million was withdrawn from the US Ethereum (ETH) spot ETF the previous day. According to Passide Investor on the 31st (local time), there was a net outflow of $55.5 million (approximately 81.6 billion KRW) from the US Ethereum spot ETF the previous day. On this day, $20.4 million was withdrawn from Fidelity FBTC, and $3.9 million from Franklin Templeton EZET. Additionally, Grayscale ETHE and Grayscale Mini ETH recorded net outflows of $17.4 million and $13.8 million, respectively. Other products had no net inflows or outflows.

The US Bitcoin (BTC) spot ETF continued its outflow trend, recording an outflow of over $400 million the previous day. According to Trader T on the 31st (local time), the US Bitcoin spot ETF saw a net outflow of $415.1 million the previous day. This marks the second consecutive trading day of net outflows. Specifically, BlackRock IBIT and Fidelity FBTC recorded net outflows of $36.46 million and $154.64 million, respectively, on this day. Additionally, Bitwise BITB and ARK Invest ARKB showed net outflows of $31.37 million and $26.40 million, respectively. Grayscale GBTC and Mini BTC also recorded net outflows of $134.50 million and $31.73 million, respectively. There were no net inflows or outflows for the remaining products.

Elon Musk, CEO of Tesla, has once again expressed his affection for Dogecoin (DOGE). On the 31st (local time), Musk posted a picture of his laptop on X (formerly Twitter), saying, "This is my 3-year-old laptop. A German man gave me this cool sticker, and I don't want to lose it by changing laptops." The revealed photo contained a parody sticker of a dollar with the Dogecoin mascot. Meanwhile, Dogecoin is currently trading at $0.3122 on CoinMarketCap, down 2.99% from the previous day.

A hacker who stole 51,000 Ethereum (ETH) between 2016 and 2018 has moved the funds. According to a post by JackXBT cited by Cointelegraph on the 31st (local time), the hacker known as 'Blockchain Bandit' transferred 51,000 ETH (approximately $172 million) from 10 wallet addresses to a multisignature address (0xC45...1D542). The hacker succeeded in discovering private keys to steal Ethereum and has awakened from nearly two years of dormancy to transfer the funds.

A recent analysis suggests that Bitcoin (BTC), which has been on a downward trend, may experience a larger correction in the future. On the 31st (local time), CryptoQuant author Crazzyblockk stated, "By analyzing the 30-day rate of change indicator for Binance market buy/sell orders, we can gauge the extent of aggressive buy or sell orders executed by futures investors. Recently, the 30-day rate of change indicator for Binance market buy/sell orders shows that while the buying pressure has decreased, the selling pressure has significantly increased." The author further predicted, "This means that market order participants are placing sell orders more aggressively than buy orders, and if this trend continues, a larger correction may occur." Meanwhile, Bitcoin is currently trading at $92,655.55, down 1.03% from the previous day on CoinMarketCap.

Solana (SOL) has emerged as the leader in stablecoin transfer volume this year. On the 31st (local time), blockchain investment and analysis platform CryptoRank revealed the top 10 blockchains by stablecoin transfer volume this year via X (formerly Twitter). Solana topped the list with approximately 10.5 trillion transfers. Following Solana, Ethereum (ETH) secured the second spot with about 7.8 trillion transfers, and Tron (TRX) came in third with approximately 5.4 trillion transfers. Additionally, Base (BASE) was ranked fourth with around 2.3 trillion transfers, and BNB Chain was fifth with 898 billion transfers.

There is a forecast that Ethereum (ETH) will show a significant upward trend in the first quarter of next year. On the 30th (local time), CryptoQuant author Crypto Sunmoon stated, "Despite the sharp price correction, Ethereum long position liquidations are occurring less than expected, indicating high investor confidence," and predicted, "A significant upward trend can be expected in the first quarter of 2025." According to the author, recent Ethereum liquidity providers are reducing long position liquidations, and the price is showing a pattern similar to last year. Currently, Ethereum is trading at $3359.98 on CoinMarketCap, up 0.24% from the previous day.

The decline of Bitcoin (BTC) continues as it falls below the $92,000 mark. As of 6:55 AM on the 31st (local time), according to CoinMarketCap, Bitcoin is trading at $91,982.64, down 1.32% from the previous day. On the Upbit KRW market, it is trading at 137,168,000 KRW, down 1.84% from the previous day. Major altcoins, including Ethereum (ETH), are also showing a downward trend. Ethereum is trading at $3,323.85, down 0.65% from the previous day on CoinMarketCap, and Ripple is trading at $2.05, down 2.64% from the previous day. Solana (SOL) is also down 0.57% from the previous day, recording $189.25, while only Binance Coin (BNB) is trading up 0.39% from the previous day at $695.21.

The downtrend of Bitcoin (BTC) has intensified, collapsing to below $93,000. As of 6:41 AM on the 31st, according to CoinMarketCap, Bitcoin is trading at $92,677.95, down 1.01% from the previous day. On the Upbit KRW market, it is trading at 137,291,000 KRW, down 1.77% from the previous day. Meanwhile, Ethereum (ETH) is also down 0.92% from the previous day, recording $3,324.81 on CoinMarketCap, and Ripple is trading at $2.06, down 2.78% from the previous day. On the other hand, Binance Coin (BNB) and Solana (SOL) have shown slight increases. Binance Coin is trading at $700.66, up 1.02% from the previous day on CoinMarketCap, while Solana is trading at $191.14, up 0.13% from the previous day.

Cryptocurrency-related ETFs have shown outstanding performance among the ETFs launched this year. On the 30th (local time), Nate Geraci, CEO of ETF Store, stated on his X (formerly Twitter) that "among the 740 ETFs launched this year, the top 8 are all cryptocurrency-related ETFs." Specifically, there are 4 Bitcoin (BTC) spot ETFs, 2 Ethereum spot ETFs, and 2 MicroStrategy ETFs.

Bitcoin (BTC) maintaining the $93,000 level is seen as crucial for a future price rebound. On the 30th (local time), cryptocurrency analyst Ali Martinez stated on his X (formerly Twitter) that "the TD Sequential indicator has shown a buy signal on the hourly chart, and the price will only rebound if the $93,000 support level is maintained." Meanwhile, Bitcoin is currently trading at $93,464.33 on CoinMarketCap, down 1.65% from the previous day.

The number of long-term holders of Ethereum (ETH) has steadily increased this year. According to data from IntoTheBlock cited by Cointelegraph on the 30th (local time), the proportion of long-term holders of Ethereum rose from 59% in January to 75% at the end of December. IntoTheBlock diagnosed this as "an indication of increasing trust in Ethereum." Meanwhile, the proportion of long-term holders of Bitcoin decreased from 70% to 62% over the same period.

There is an expectation that the Solana (SOL) spot ETF will be approved next year. On the 30th (local time), Nate Geraci, CEO of ETF Store, stated on his X (formerly Twitter) that "the Solana spot ETF is expected to be approved in 2025." Previously, he reported that U.S. fund manager Volatility Shares had applied for approval from the U.S. Securities and Exchange Commission (SEC) to launch a Solana (SOL) futures-based ETF. Regarding this, Eric Balchunas, a Bloomberg ETF analyst, assessed that "the launch of a Solana futures ETF is a good signal for the possibility of a spot ETF launch."

It was revealed that over $300 million was withdrawn from the US Bitcoin (BTC) spot ETF last week. According to Trader T on the 30th (local time), there was a net outflow of $379 million from the US Bitcoin spot ETF last week. This is equivalent to approximately 556 billion KRW. Last week, Fidelity FBTC experienced the largest net outflow, losing $183 million, while BlackRock IBIT recorded a net outflow of $22.7 million. Only Grayscale Mini BTC and VanEck HODL saw net inflows of $990,000 and $100,000, respectively.

The rally of Bitcoin (BTC), sparked by expectations of cryptocurrency regulation easing under President-elect Donald Trump, is losing momentum as the year-end approaches. According to Bloomberg on the 30th (local time), Bitcoin was trading at $93,678 as of 8:53 AM (Korean time), approximately $15,000 lower than the all-time high recorded in mid-December. Trump's election, with his pro-cryptocurrency policies throughout the campaign, raised market expectations. However, the speculative fervor appears to be cooling as expectations for a rate cut by the US Federal Reserve (Fed) diminish. Additionally, according to Chris Weston, head of research at Pepperstone Group, fund outflows from Bitcoin spot ETFs are also analyzed to have had an impact. As a result, the direction of Bitcoin is expected to be postponed until after Trump's official inauguration on January 20th next year.

Bitcoin (BTC) is expected to undergo further corrections before the inauguration of U.S. President-elect Donald Trump in January next year, according to an analysis. On the 29th (local time), 10X Research released a report forecasting that "Bitcoin's volatility will increase and further corrections will occur before the inauguration of U.S. President-elect Donald Trump in January next year." The report continued, "Currently, the stochastic indicator on the BTC/USD weekly chart is above 80, indicating an overbought zone when the indicator is above 80," and analyzed that "there is a possibility of corrections rather than further rises by January next year."

There is a forecast that Bitcoin (BTC) will show solid price movements as withdrawals from exchanges surge. On the 28th (local time), CryptoQuant author AxelAdlerJr reported, "In the past few weeks, the number of Bitcoin deposits to exchanges has recorded about 30,000 per day, similar to the all-time low in 2016. Typically, a decrease in exchange deposits tends to signal the start of a Bitcoin rally." The author continued, "The Netflow-to-Reserve Ratio has also turned negative, indicating that Bitcoin is being withdrawn from exchanges. Generally, when this indicator is negative, it marks the end of a bear market, suggesting that Bitcoin prices will show solid movements in the future."

MicroStrategy, the company holding the most Bitcoin (BTC) among single entities, is likely to purchase additional Bitcoin (BTC). According to Cointelegraph on the 30th (local time), Michael Saylor, chairman of MicroStrategy, posted a chart from SaylorTracker, a platform that tracks MicroStrategy's Bitcoin purchases, on his X (formerly Twitter) the previous day. The media noted, "Saylor usually posts such charts before purchasing additional Bitcoin." Meanwhile, MicroStrategy is currently known to hold 442,262 BTC (approximately $41.4 billion).