Bitcoin ETF Doubts Lead to Market Slide

Alpha-Team
January 03, 2024

📉 Bitcoin Faces Sharp Decline Amid Market Speculation

Significant Value Drop: Bitcoin experienced an 8% decrease in value, leading to a $400M liquidation in derivatives exchanges, reversing its gains from the start of January.

Impact of ETF Skepticism: The decline is attributed to market doubts over the approval of a Bitcoin ETF, influenced by weak performance in crypto mining stocks and U.S. crypto-related stock sell-offs.

Fluctuating Prices and Regulatory Decisions: After a high of $45,500, Bitcoin's price fell to $40,550. The SEC's upcoming decision on ETFs may further impact the cryptocurrency market. Read More.

️ On today's Top Picks:

⛏️ Satoshi mined the first Bitcoin on this day 15 years ago.
🚧 UniSat to split BRC-20 token standard despite pushback.
🪂 Dymension $DYM genesis airdrop is live.
💰 Michael Saylor sells MicroStrategy stock options.

Read time: ⏰ 5 minutes

Crypto News

• ⭐️ Satoshi Nakamoto mined the first Bitcoin on this day 15 years ago.

• ⭐️ UniSat to split BRC-20 token standard despite pushback from BRC-20 creator.

• Jesse Pollak posts makeshift Base roadmap on X.

• Vitalik calls on L2's to work on CCIP resolvers for Ethereum Name Service.

• Etherscan acquires Solscan, a Solana block explorer.

• IRS new tax reporting obligation requires a report to the IRS when receiving $10K or more in cryptocurrency.

Alpha

• Particle Network alongside 50+ protocols introduce The People's Alliance.

• Mantle unveils Mantle Moonshot Week 4 beginning January 4th.

• Manta domain registration through Space ID is live.

• Br1an to stream Building The Next Memecoin on Unlonely.

Airdrops

• ⭐️ Dymension $DYM genesis airdrop is live.

• Sleepless AI $AI airdrop set to go live tomorrow.

• Jupiter targets end of January for $JUP airdrop.

• Sail DAO to airdrop $SAIL to Osmosis stakers.

• LessFnGas airdrops $LFG to Ethereum users.

Finance News

• US National Debt eclipses $34 Trillion.

• Turkey's inflation rises to 64.8% as central bank pivots.

• ⭐️ Michael Saylor sells $216M worth of MicroStrategy $MSTR stock options to buy more Bitcoin $BTC.

• Tesla $TSLA delivers record number of electric vehicles but loses top spot to BYD.

• Apple $AAPL slips after Barclays downgrades stock rating.

Security and Exploits

• Radiant Capital exploited for ~$4.5M but no other funds are at risk.

• Nest Wallet co-founder scammed for ~$125K due to fake airdrop website.

• SMTP Smuggling exploit technique emerges targeting vulnerable SMTP servers.

Token Unlocks

• Euler / 117.04K $EUL / ~$462K / JAN 03
• Liquity / 657.35K $LQTY / ~$986K / JAN 04
• Galxe / 3M $GAL / ~$6.97M / JAN 04
• Hashflow / 13.62M $HFT / ~$5.31M / JAN 06

Funding

• Cryptocurrency December VC funding was at $910M across 98 projects.

• ISSP, a cross-chain inscription protocol; raises an undisclosed amount in funding from KuCoin Labs.

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