Bitcoin ( BTC ) miners' daily revenue and gross profit rose for the second consecutive month in December, hitting the highest levels since April, JPMorgan (JPM) said in a research report on Monday. Mining profitability increased as the rally in the world's largest cryptocurrency continued to outpace network hashrate growth, the bank noted. JPMorgan estimated that bitcoin miners earned an average of $57,100 per exahash per second (EH/s) in daily block reward revenue last month, 10% more than in November. Still, "daily revenue and gross profit per EH/s is still 43% and 52% below pre-halving levels, respectively," analysts Reginald Smith and Charles Pearce wrote. The network hashrate grew by 6% in December to an average of 779 EH/s, the report said. Hashrate refers to the total combined computational power used to mine and process transactions on a proof-of-work blockchain. Mining difficulty rose 7% from the month before and is now 27% higher than before the reward halving event in April, the bank said. The hashrate increased 54% in 2024, slower than 2023's gain of 103%. The total market cap of the 14 publicly listed bitcoin miners that the bank tracks declined 23% to $28 billion in December. The figure rose 52% in November. TeraWulf (WULF) was the only miner that outperformed bitcoin last year, with a 136% gain, the report said. Bitcoin climbed about 120%. Read more: Bitcoin Miners Are Expected to be Profitable in December, Jefferies Says
The investment will enable TONCASH to accelerate the onboarding of millions of users to its innovative crypto cashback platform and build the Web3 standard for best-price shopping. HONG KONG , Jan. 7, 2025 /PRNewswire/ — TONCASH , the Telegram-native crypto cashback and rewards platform, has received a strategic investment from TON Ventures, the flagship venture fund of The Open Network (TON). The strategic investment will accelerate TONCASH’s mission to onboard millions of users and become the Web3 standard for best-price shopping and on-chain rewards. Ben Usinger , CEO and Co-Founder of TONCASH, commented : “This investment deepens our collaboration with Telegram and The Open Network, empowering us to deliver the best online shopping and rewards experience for the Web3 audience. With TON Ventures’ strategic support, we’re driving the adoption of on-chain payments, engaging millions of users through innovative cashback mechanics and redefining how brands connect with customers in the Web3 space.” Since launching its Telegram Mini App in November 2024 , TONCASH has gained over 200,000 users and a large following on social media, underscoring its product-market fit and rapid growth potential. TONCASH users enjoy deals from over 200 top brands, including Apple, Adidas, Binance, or Trip.com, offering up to 80% cashback — redeemable in Bitcoin, USDT, or TON tokens. Beyond cashback, the mini app provides perks such as airdrops and engagement rewards, all while operating seamlessly on any phone with Telegram installed. With TON Ventures’ backing, TONCASH now pursues an aggressive expansion across Asia-Pacific , Europe , the Middle East , and Latin America , reaching Telegram’s 950-million-user base and connecting global brands to Web3 users through crypto cashback and rewards. To join the app and benefit from its perks: Visit: TONCASH website Join us on Telegram
Cathie Wood’s asset management firm Ark Invest did a major reshuffling to its portfolio on Monday, selling 3769 Coinbase (COIN) shares from its portfolio. The recent sell-off comes as the Coinbase stock shows signs of bounceback while gaining 11.2% on the weekly chart. Amid a strong recovery on Wall Street, the COIN stock gained 6.32% ending the trading session at $287. Cathie Wood’s Ark Invest Dumps Coinbase Stock On Monday, the Ark Fintech Innovation ETF (NYSEARCA: ARKF) sold a total of 3769 Coinbase stock worth $1.08 million from its total holdings. This quantity of COIN stock sold contributed only a 0.1% drop in the portfolio holdings and comes as part of periodic adjustments. Last September, Ark Invest loaded Coinbase shares in big quantities just ahead of the mega rally in the COIN stock. Back then the share price was trading at just $150. However, since then the share price has appreciated by a massive 91% with Ark generating massive ROI within just four months of its investments. Ark Investments is an early investor in Coinbase and continues to hold a large amount of COIN stocks even today. The Ark Fintech Innovation ETF (ARKF) that holds the Coinbase stock has delivered massive returns of 50% over the past year, along with investments in Shopify and Block Inc. Under the leadership of Cathie Wood, the asset manager is likely to pursue more such investments. With Donald Trump taking the office at White House this month, Wood is even more optimistic about the US economy in the coming years. Cathie Wood of Ark Invest highlighted that a restructuring of the U.S. SEC under Trump’s administration could significantly boost American innovation. She noted that new leadership at the SEC and FTC could pave the way for a transformative era of technological advancement in the U.S. COIN Share Price Expectation for 2025 Amid the broader crypto market rally in 2024, Coinbase stock price has appreciated by a strong 80% over the past year. Market analysts expect this rally to continue further from here this year into 2025. On Monday, the Coinbase share price gained 6.32% ending the trading session at $287. As the crypto exchange is preparing to release its Q4 earnings report, analysts have raised price targets for the same. As per analysts, the COIN stock can hit $400 ahead of its earnings report, which is another 37% upside from here. Favorable regulatory environment and crypto market euphoria under Donald Trump could serve as a catalyst for this. Coinbase Insiders Are Selling the Stock Apart from Ark Invest, there has also been more selling coming from Coinbase insiders in recent weeks. Last week on January 2nd, Coinbase CTO Paul Grewal offloaded 10,000 shares from his holdings netting more $2.57 million. As a result of this transaction, his stake in the company decreased by 12.59%, leaving him with 69,407 shares valued at approximately $17.82 million. Paul Grewal has been offloading his COIN stock holdings over the past few months. The post Cathie Wood’s Ark Invest Sells Coinbase (COIN) Stock Amid Insiders Sales Red Flag appeared first on CoinGape .
The post Bitcoin Price Back Above $100K—Will it PullBack for Higher Low or Dive Into Deeper Correction? appeared first on Coinpedia Fintech News Bitcoin demonstrated a huge bullish action during the last trading day, which helped the token breach the pivotal resistance range between $98,685.01 and $99,583.64, marking highs above $102,000. While major reasons contribute towards the rise, some among them are the rise in the hash rate that marked the ATH, increased mining difficulty, Michael Saylor buying more Bitcoin, and Donald Trump taking office soon. With this trade setup, the BTC price is assumed to rise above $300K. But are these realistic targets? Ever since the price rose above the consolidation, the spot ETFs have seen a significant inflow. After recording over $900 million during the past week, the total net flows were also above $900 million for the second consecutive day. This suggests the institutions are fueling the Bitcoin momentum as the institutions are buying more than the BTC mined in a day. Now that the volume over the platform has recovered from the lows below $20 billion to levels above $50 billion, here is what to expect from the BTC price rally this month. The historical BTC price action remains bullish and the latest rebound above $100K indicates the bulls have gained enough strength. The price is printing consecutive bullish weeks in a row, which usually happens when the token is poised to mark new highs above the current ATH at $108.2K. The +Di of DMI has displayed a bullish divergence along with RSI; hence, indicating the price could maintain a healthy ascending trend. The trade pattern suggests the next highs for the BTC price could be somewhere around $111,676, hitting the resistance of the rising wedge. Meanwhile, the question arises whether the token will be able to sustain the gains or face another rejection from the highs. Considering the trade pattern, rejection seems imminent, while the growing market dynamics are expected to hold the levels above the previous highs, which may initiate a strong recovery. In 2024, U.S. politics will have impacted the crypto markets, particularly the BTC price. The launch of spot ETFs and the election of pro-crypto candidate Donald Trump were the main drivers of the growth. Therefore, it is quite evident that future price surges could be highly dependent on the U.S. government’s adoption of pro-Bitcoin policies and actions.
Crypto market recovery shows strong momentum today, with Bitcoin surpassing $102K, fueling bullish sentiment across the market. Most of top altcoins struggles to sustain upward trends, reflecting mixed performance. Dogecoin price, currently holding above $0.39, is showcasing resilience amid these fluctuations. Investors are closely monitoring DOGE, anticipating further gains before potential corrections. Can Dogecoin Price Rally to $0.5 Before Market Corrects? The TD Sequential indicator has flashed a sell signal on Dogecoin’s daily chart, suggesting a potential price correction ahead. DOGE price trades near $0.39, gaining momentum after recent bullish price action. The sell signal, highlighted by a green-to-red transition, indicates waning buying pressure. Traders anticipate a temporary pullback as the market adjusts. Recent market optimism fueled Dogecoin’s surge, with significant trading activity pushing prices higher. Analysts believe the sell signal may serve as a cooling phase before another potential rally. Despite the correction warning, market sentiment around the top meme coin remains optimistic. Source- Tweet DOGE Nears Key Resistance as Bulls Target $0.41 Breakout A crypto analyst highlights that Dogecoin is approaching a critical resistance level, marking a decisive moment for the popular memecoin. To reignite its momentum and push toward previous all-time highs, Dogecoin needs to break past the $0.41 mark. The coin has been consolidating near this significant level after a recent upward trend. Analysts emphasize that a clear breakout beyond $0.41 could set the stage for a renewed rally. The current price action shows a retest of prior resistance, suggesting growing market interest. Source- X What Next For Dogecoin Price After a Market Rally? The global crypto market cap has reached $3.58 trillion, reflecting a 1.68% rise in the past 24 hours. Market activity surged as the total crypto trading volume jumped 30.% to $124.78 billion. Bitcoin price is above $102k, while Ethereum, Solana, XRP, and other cryptocurrencies followed suit. Meme coins, including Dogecoin, also saw significant price rallies. Analysts suggest Dogecoin price could experience further gains if the bullish momentum persists. The latest DOGE price hovered at $0.393, reflecting a 4% surge within the past 24 hours during the U.S. timeframe. This upward momentum positions Dogecoin near the $0.40 mark, indicating potential bullish activity. Technical analysis suggests on the 4-hourchrt shows a continuation of the upward trend. The Relative Strength Index (RSI) shows a reading of 66.71, nearing an overbought condition that could lead to a temporary market correction. The Chaikin Money Flow (CMF) remains positive at 0.03, reflecting consistent capital inflows. Support lies at $0.35 and $0.32, offering a safety net in case of downward pressure. If bears make a comeback the Dogecoin price prediction could see a market corrects. And If bulls maintain momentum, DOGE could test the $0.50 psychological resistance, a key level for further rally potential. Dogecoin Price Chart: TradingView To conclude, the Dogecoin price has seen a market recovery following the crypto market rebound. Dogecoin’s price holds promise amid market optimism but faces potential corrections. Breaking $0.41 could ignite a rally toward $0.50. Investors should monitor key resistance and support levels closely. The post Will Dogecoin Price Hit $0.5, or Is a Correction Imminent? appeared first on CoinGape .
US spot Bitcoin ETFs (exchange-traded funds) purchased almost three times more BTC than the amount that was produced by miners in December. Aggregated data from Apollo and BiTBO shows that spot BTC ETFs in the US accumulated 51,500 Bitcoins collectively. Bitcoin ETFs have a stellar December December proved to be a golden time for Bitcoin ETFs with inflows supported by strong market momentum. The influx of capital into these investment products gave the largest crypto by market cap the support needed to rise above the psychological $100K mark to a new all-time high of $108,135 on December 17, according to data from CoinGecko. Simultaneously, Bitcoin miners introduced 13,850 new coins to BTC’s supply in December. Overall, the accumulation by spot Bitcoin ETFs was approximately 272% more than the number of new coins that were produced last month. Crypto researcher Vivek also noted in a January 6 X post that BTC exchange balances have plunged to historic lows, creating a supply bottleneck. With exchanges running low on liquidity, Vivek warned of a potential impending “supply shock.” #Bitcoin balance on exchanges hits an all time low. Supply shock incoming 🚀 pic.twitter.com/BkEmFfWeE7 — Vivek⚡️ (@Vivek4real_) January 6, 2025 Major inflows in January Data from Farside Investors shows that US Spot Bitcoin ETFs posted their second consecutive day of net inflows yesterday, with around $978.6 million entering the funds’ reserves collectively on January 6. Yesterday’s positive flows also marked the second consecutive weekday of more than $900 million in inflows. BlackRock’s IBIT, which is the current leader in cumulative inflows, saw $253.1 million and $209.1 million enter its reserves on Jan. 3 and Jan. 6, respectively. However, Fidelity’s FBTC was the top-performer. On Jan. 3, investors poured $357 million into FBTC, while $370.2 million entered the fund yesterday. Bitwise’s BITB also recorded positive net flows on both days. Similarly, ARKB recorded $16.5 million and $222.6 million net inflows on Jan. 2 and Jan. 6, respectively, while VanEck’s reserves increased over $10 million with the inflows it registered over both days. After posting no new flows on Jan. 3, investors resumed investing in Grayscale’s GBTC, sending $73.8 million to the ETF yesterday. The asset manager’s smaller BTC fund saw net inflows on both days as well. The uptick in inflows comes as BTC managed to reclaim a position above the $100,000 mark in the last 24 hours. After posting a daily gain of more than 2%, the market leader trades at $101,719.51 as of 3:05 a.m. EST. From Zero to Web3 Pro: Your 90-Day Career Launch Plan
Dubai, United Arab Emirates, January 7th, 2025, Chainwire Bybit , the world’s second-largest cryptocurrency exchange by trading volume, proudly announces the launch of its Fixed Rate Loan service empowering users with greater control and predictability in managing their crypto assets. For the first time ever at Bybit, users can access a peer-to-peer (P2P) loan service with fixed interest rates and terms. This latest offering reflects Bybit’s ongoing commitment to delivering unparalleled value to its global community. “With the launch of Fixed Rate Loan, Bybit is introducing a fresh way for users to lend and borrow in the crypto space. It’s designed to provide stability, flexibility, and efficiency, catering to the diverse needs of our customers,” said Joan Han, Sales and Marketing Director at Bybit. “This product is an exciting milestone for us, reinforcing our dedication to making crypto finance accessible and reliable.” What Sets Bybit’s Fixed Rate Loan Apart? Bybit offers several advantages for both borrowers and lenders: Predictable Costs : Borrowers lock in a fixed interest rate for the loan’s duration, avoiding fluctuating rates and hidden fees. Steady Returns : Lenders receive a fixed APR, ensuring stable returns. Flexible Collateral : Users can choose from a wide range of collateral options, maximizing capital utilization. Streamlined Process : Features like Auto-Repay and Auto-Renew (coming soon) simplify management. Secure Management : Bybit directly manages both collateral and loaned assets with principal protection for suppliers. Bybit’s loan terms offer flexibility and a wide selection of cryptocurrencies, including USDT, USDC, BTC, ETH, XRP, SOL, and MNT, with more to be added. Loan durations are available for 7, 30, 90, or 180 days. The Loan-to-Value (LTV) starts at 80%, with a margin call at 85% and liquidation at 92%. The minimum order amount for borrowing and lending is set at 1,000 USDT equivalent. In the event of liquidation, a 2% repayment fee applies, ensuring a transparent and secure process for all participants. Why Choose Bybit’s Fixed Rate Loan? This new service represents Bybit’s continued evolution as a leading innovator in the crypto finance space. Whether the user is a borrower seeking predictable costs or a lender aiming for steady returns, Fixed Rate Loan offers the ideal solution to navigate the dynamic world of cryptocurrency. #Bybit / #TheCryptoArk About Bybit Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com . For more details about Bybit, please visit Bybit Press For media inquiries, please contact: media@bybit.com For updates, please follow: Bybit’s Communities and Social Media Contact Head of PR Tony Au Bybit tony.au@bybit.com
On Jan. 6, spot Bitcoin ETFs in the United States saw their highest inflows since Nov. 21, with $978 million, equating to 9,577 BTC entering the investment products. Additionally, it was the second consecutive trading day in a row with more than $900 million in inflows, as Jan. 3 saw $908 million entering the eleven funds. The $1.88 billion inflow has reversed a trend that saw $1.97 billion leaving the investment products since Dec. 19, almost wiping out those outflows in just two days. Final 1/6 inflows for U.S. Bitcoin ETFs 9,577 BTC, or $978 million pic.twitter.com/bXUHYHFxDF — HODL15Capital (@HODL15Capital) January 7, 2025 ETF Consumption Way Exceeding BTC Production Fidelity’s FBTC fund was the leader for the day on Monday, with an inflow of $370 million, followed by BlackRock’s IBIT fund with $209 million. Ark 21Shares also had a good day with $153 million in inflows, while both Grayscale products GBTC and the BTC mini trust saw over $70 million each inflowing, as did Bitwise. There were minor inflows for Franklin and VanEck and no outflows for the rest. GBTC Buys 720 Bitcoin You know it’s a big day when GBTC are buying pic.twitter.com/RVZpafS0MJ — Thomas | heyapollo.com (@thomas_fahrer) January 7, 2025 More than 9,000 BTC have entered spot Bitcoin ETFs per day over the past two trading days, which is significantly more than the 450 BTC that are mined every day on average. Bloomberg ETF analyst Eric Balchunas said, “I would have predicted a rough patch for the BTC ETFs given the drop below $100k (overdue for a breather), but no, they roared back with nearly $1B Friday.” Since then, BTC has reclaimed $100,000, and the products have seen another day with almost $1 billion in inflows. I would have predicted a rough patch for the btc ETFs given the drop below $100k (overdue for a breather) but no, they roared back with nearly $1b Friday, which lifted the 1W to positive net. Good sign. The scoring was spread around too, Dream Team-style- also a good sign. pic.twitter.com/krmKS0wKm2 — Eric Balchunas (@EricBalchunas) January 6, 2025 The ETF resurgence follows spot markets where Bitcoin has gained almost 10% since the beginning of this year. The asset hit an intraday high of $102,512 during early trading in Asia on Tuesday, so ETF momentum may continue today if those gains are maintained. ETH ETF Resurgence Spot Ethereum ETFs also had a good day on Monday, with their highest inflow for a fortnight at $128.7 million. The majority of that inflow, $124 million, was for BlackRock’s ETHA fund, which has now seen a total of $3.6 billion in inflows since it launched six months ago. There was very little activity for the rest of the ETH ETFs, and Grayscale’s ETHE continues to outflow, with the product losing $7.2 million on Monday. The post Spot Bitcoin ETF Inflows Surge to 6-week High of Nearly $1B appeared first on CryptoPotato .
The cryptocurrency market, led by Bitcoin, has often followed a pattern of alternating growth and decline cycles, reflecting investor sentiment and market fundamentals. Since the beginning of the current bull cycle in January 2023, Bitcoin has demonstrated substantial gains in both price and market duration. Increased capital inflows from new investors have supported this growth and existing participants are reinvesting their profits. However, recent indicators suggest that the market may now be entering the latter stages of this cycle, raising questions about what lies ahead for Bitcoin and the broader crypto market. Related Reading: MARA CEO Advocates “Invest And Forget” Approach To Bitcoin, Citing Strong Historical Performance Key Indicators Point to Cautious Optimism A significant metric supporting this observation is the percentage of Bitcoin traded within the past month based on realized market cap – UTXO, which currently sits at 36%, according to a recent analysis shared by a CryptoQuant analyst known as Crypto Dan. In the analysis, Dan reveals that while this figure remains lower than peak levels observed in previous bull cycles, its downward trajectory suggests that the market is “progressing toward its cycle peak.” Dan anticipates that this peak could occur sometime between Q1 and Q2 of 2025. However, rather than a single explosive surge, historical trends indicate that the ratio could experience sharp increases two to four more times before the cycle concludes. This pattern typically signals market overheating, followed by a subsequent correction or bear cycle. Dan further highlighted that while the market still holds potential for gains, a conservative approach to risk management is advisable. Historically, late-stage bull cycles have been marked by increased volatility, as profit-taking begins to influence market behavior. Dan wrote: Nevertheless, from a conservative standpoint and with risk management in mind, caution is advised. For this reason, I am planning to gradually sell my holdings. Another critical observation from on-chain data is the relationship between short-term traders and long-term holders. Historically, a sharp increase in short-term trading activity often precedes a market correction. Traders who entered the market during recent price rallies may begin to sell off their holdings, leading to temporary downward pressure on prices. Conversely, long-term holders often remain resilient during these periods, providing a stabilizing force in the market. Bitcoin Sees Recovery As The New Year Begins After weeks of struggling and remaining below $100,000 in the last month of 2024, Bitcoin appears to have now resumed its bullish momentum as the first month of 2025 commences. Although, BTC entered the new year with a price below $95,000. However, a few days later, the asset continued its upward momentum, reclaiming the $100,000 price mark to currently trade at a price of $101,624. At the time of writing, BTC recorded a 3.9% increase in the past day bringing its price closer to its recently established all-time high above $108,000 last month. Featured image created with DALL-E, Chart from TradingView
The new year has offered no relief for Chinese assets, which continue to decline in a meltdown that could further fuel the ongoing bitcoin (BTC) bull run. The Chinese yuan (CNY) fell to 3.22 per U.S. dollar early Tuesday, reaching the lowest level since September 2023, according to data source TradingView. The Chinese unit has dropped 0.4% this month, extending the three-month losing trend despite attempts by the People's Bank of China to calm investor nerves about impending U.S. tariffs under President-elect Donald Trump's administration. On Monday, the CSI 300, a blue-chip index for mainland China's stock exchanges, fell to the lowest since September. The ChiNEXT Index, a so-called risk barometer tracking the performance of innovative and high-growth SMEs in China, has also dropped 8% since Dec. 31, according to charting platform TradingView. Lastly, the yield on the 10-year Chinese government bond has fallen to 1.6%, a remarkable decline of 100 basis points from a year ago. This ongoing drop contrasts sharply with the rising yields in advanced economies, including the U.S., and reflects growing concerns over worsening deflation. All of this is likely to trigger capital flight from the country, potentially boosting demand for alternative investments such as bitcoin, according to LondonCryptoClub. "China appears to be letting the currency slide and no longer defending it, allowing the peg to crawl if not an outright devaluation. This will accelerate capital outflows from China, which we’re seeing with Chinese stocks under pressure. Bitcoin will be an obvious destination for some of those flows, especially with capital controls in place making it difficult to get capital out of China via traditional channels," Founders of the LondonCryptoClub told CoinDesk. "When China devalued in 2015, Bitcoin promptly traded over 3x higher," founders added. Note that the PBOC has relied solely on its daily fix and other liquidity measures to arrest the slide in the yuan rather than on outright intervention, which can become a headwind for crypto. On Monday, the PBOC set the daily reference rate stronger than the widely-watched 7.20 per USD in a bid to temper bearish CNY expectations. The daily fix has been the central bank's preferred tool in managing market expectations and has held consistently stronger than 7.20 per USD since Trump's victory in the U.S. election in early November. Meanwhile, the PBOC has also taken steps to tighten liquidity in the offshore (Hong Kong) market to support the yuan, as evidenced by the spike in the offshore yuan's overnight interbank interest rate in Hong Kong rose to 8.1%, the highest since June 2021. That said, BTC bulls need to keep an eye out for a potential outright intervention involving the sale of dollars to prop up the yuan, as that could boost the dollar index, capping the upside in the greenback-denominated assets like BTC. Whenever the PBOC sells the dollar to shore up the yuan, it concurrently buys the greenback against other currencies to keep the proportion of the USD in reserves stable. The process, thus, causes financial tightening through the FX channel. The dollar index has already surged from roughly 100 to 108 in just over three months, largely tracking the uptick in the Treasury yields. Further strength could zap investor appetite for riskier assets.