Morgan Stanley: Bitcoin and CBDCs Threaten US Dollar's Dominance as Global Currency
Morgan Stanley's Head of Digital Assets, Andrew Peel, has warned that the increasing popularity and adoption of cryptocurrencies like Bitcoin, as well as the development of Central Bank Digital Currencies (CBDCs), could threaten the dominance of the US dollar as a global currency. Peel highlighted the potential paradigm shift in the way people view and interact with digital assets as a threat to the dollar's status. He also noted that CBDCs could establish a unified standard for cross-border payments, potentially diminishing the reliance on traditional intermediaries like SWIFT and dominant currencies like the dollar. Despite this, Peel acknowledged the advantages of CBDCs, including their potential to support innovation by automating transactions using smart contracts.
Bitcoin moves back above $43,000
According to OKX market data, on January 16th, Bitcoin rebounded above $43,000 and is currently priced at $43,093.15, with a 24-hour increase of 0.98%.
IntoTheBlock: 2.68 million addresses purchased over 1 million BTC at an average price of $43,400
Data from IntoTheBlock shows that 2.68 million addresses have purchased over 1 million BTC at an average price of $43,400. Uncertainty may cause these holders to sell at their breakeven point, adding resistance to the upward trend.
SINOHOPE announces partnership with Bitroo
According to official sources, on January 15th, the one-stop digital asset service platform, SINOHOPE Technology Holdings Limited (stock code: 1611.HK, SINOHOPE), announced a partnership with Bitroo. Both parties will cooperate deeply around the Bitcoin ecosystem through SINOHOPE Technology's Bitcoin Ecosystem Support Program, utilizing their respective experiences in Bitcoin mining, Bitcoin computing power services, computing power asset management, mining funds, virtual asset security custody, and one-stop Web3 product construction, to provide customers with more secure, professional, diverse Bitcoin ecosystem products and solutions.
The spacecraft carrying 1 BTC may have burned up when it crashed into the atmosphere after failing to land on the moon.
BitMEX's plan to send 1 BTC to the moon in collaboration with Astrobotic was unsuccessful due to a fuel leak issue with the Peregrine 1 spacecraft, which prevented it from landing on the moon. It is reported that Peregrine is currently about 234,000 miles away from Earth and is expected to burn up upon re-entering Earth's atmosphere. Astrobotic has announced that it will hold a press conference with NASA on January 18th to announce the details of the Peregrine's crash.
As Bitcoin plunges on Friday, Coinbase sees highest weekly BTC sales since FTX crash
According to Glassnode data, on January 12th, the amount of Bitcoin sent to exchanges by short-term holders (holding for less than 155 days) reached a record high, equivalent to a profit of $2.271 billion. However, with Bitcoin's sharp drop last Friday, short-term holders on exchanges suffered losses of $4 billion, indicating a possible change in market sentiment.
Yesterday, the transaction fee of the entire Bitcoin network was approximately 219 BTC, an increase of approximately 73% from the previous day.
BTC.com data shows that the total network transaction fee for Bitcoin was about 219 BTC yesterday, an increase of about 73% from the previous day (126.75 BTC).
Bitcoin ETFs: The Bull Case
One train of thought says that SEC approval of spot bitcoin ETF will send the market flying. Here’s how that could play out. In a separate post, we review the bear case, where the market may not react with such optimism.
Gold on steroids? Bitcoin, gold correlation surges in 2023 — Fidelity
Bitcoin and gold have recorded strong performance in 2023 amid geopolitical uncertainties and rising interest rates.
Cointime January 13 News Express
1.JPMorgan Chase: The probability that the SEC will classify ETH as a commodity before May is less than 50%
BTC drops below $43,000
The market shows that BTC has fallen below $43,000 and is now trading at $42,999, with a daily decline of 6.07%. The market is highly volatile, so please manage your risks.
Bitcoin open interest reaches $19.003 billion
According to Coinglass platform data, the current open position of Bitcoin futures contracts has reached 19.003 billion US dollars. Among them, CME has the largest share, at 5.245 billion US dollars; Binance ranks second, at 4.366 billion US dollars; and Bybit ranks third, at 3.291 billion US dollars.
Argentina registers first Bitcoin-settled lease agreement
On January 13th, Argentine President Javier Milei issued an emergency administrative order, and Argentina registered one of the first rental agreements priced in Bitcoin. This administrative order opened the door for this solution. The agreement stipulates that the tenant will pay the landlord the equivalent of $100 in Bitcoin each month, and chooses the national cryptocurrency exchange Fiwind as the provider of reference Bitcoin prices to execute these payments. The contract also specifies that the tenant will make these payments to the address provided by the landlord within the first five days of each month. Local sources say that although there have been records of real estate sales settled in Bitcoin before, this is the country's first such rental agreement.
There are only 100 days left in the countdown to BTC production reduction
The BTC halving is expected to be completed on April 22, 2024, with only 100 days left on the countdown. The current block reward is 6.25 BTC, which will be reduced to 3.125 BTC after the halving. There are currently 14,427 blocks remaining.
Bitcoin has seen its largest short-term holder fund transfer activity since May 2021, reaching $6.1 billion
The trading activity of Bitcoin ETF on January 10th and 11th showed the behavior trend of short-term holders (STH). Short-term investors who held Bitcoin for less than 155 days transferred a total of $6.1 billion to exchanges on these two days, setting a new record since May 2021. It is reported that a large part of these transfers (20 billion US dollars on January 10th and a record-breaking 2.263 billion US dollars on January 11th) were achieved by sending profits to exchanges, highlighting the specific investment strategy adopted by short-term holders, resulting in obtaining a large amount of profit from the digital asset market.
Data: Bitcoin on-chain transaction volume reaches highest level since FTX bankruptcy
According to data from IntoTheBlock, the current on-chain transaction volume of Bitcoin has reached the highest level since the bankruptcy of FTX. On Wednesday, the total transaction volume of Bitcoin reached 60 billion US dollars, almost entirely driven by large transactions. 97% (approximately 58.76 billion US dollars) of the total transaction volume came from transactions exceeding 100,000 US dollars.
Here’s Some Bitcoin: Oh, and You’ve Been Served!
A California man who lost $100,000 in a 2021 SIM-swapping attack is suing the unknown holder of a cryptocurrency wallet that harbors his stolen funds. The case is thought to be the first in which a federal court has recognized the use of information included in a bitcoin transaction — such as a link to a civil claim filed in federal court — as reasonably likely to provide notice of the lawsuit to the defendant. Experts say the development could make it easier for victims of crypto heists to recover stolen funds through the courts without having to wait years for law enforcement to take notice or help.
A total of 10,825 BTC were transferred from unknown wallets to Coinbase in the past 5 minutes
Whale Alert monitored and reported that in the past 5 minutes, a total of 10,825 BTC (492,478,621 USD) was transferred from an unknown wallet to Coinbase.
4302.37 BTC flowed into exchange wallets in the past 24 hours
According to data from coinglass, 4302.37 BTC have flowed into the exchange wallet in the past 24 hours, 9175.02 BTC have flowed in the past 7 days, and 60067.81 BTC have flowed in the past 30 days. As of press time, the total balance of the exchange wallet is 1,891,404.87 BTC.
Bitcoin has fallen nearly 5% in the past hour and is now trading at $46,503
According to OKX market data, Bitcoin fell nearly 5% in the past hour, now reporting at $46,503 USD. Market fluctuations are large, please pay attention to investment risks.
