Prime

Bitcoin

Silk Road

Trillion

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<p class="has-drop-cap">Bitcoin (<a href="https://tokenist.com/investing/how-to-invest-in-bitcoin/" rel="dofollow" class="deco-link">BTC</a>), the world’s leading cryptocurrency, has been at the center of dynamic market movements and significant news developments. As the Asia-Pacific region positions itself as a future leader in global crypto growth, Bitcoin continues to navigate its journey towards the <a href="https://tokenist.com/btc-report-bitcoins-price-nears-100k-for-the-2nd-time/" rel="dofollow" class="deco-link">$100,000 mark</a>.</p> 
<p>Meanwhile, MicroStrategy’s aggressive Bitcoin acquisitions and the U.S. government’s Bitcoin-related actions are shaping market dynamics. Furthermore, Bitcoin’s current supply metrics and its impact on the broader crypto ecosystem are crucial for investors and traders to consider.</p> 
<h3 id="bitcoin-holds-at-the-94-000-level-market-cap-stays-above-1-8-trillion">Bitcoin Holds at the $94,000 Level; Market Cap. Stays Above $1.8 Trillion</h3> 
<p>Bitcoin’s price stood at $94,264.63 at the time of writing (08:52 EST), reflecting a decrease of 1.66% or $1,591.30, with a daily low of $94,155.80 and a high of $96,402. Despite this dip, Bitcoin’s market capitalization remains robust at over $1.8 trillion.</p> 
<p>The cryptocurrency’s 50-day and 200-day average prices are $79,744.55 and $67,055.54, respectively, highlighting its growth trajectory over the year. Many consider Bitcoin’s potential to surpass its yearly high of $99,655.50. However, analysts like Van Straten suggest that breaking the $100,000 psychological barrier may require multiple attempts, given historical price behavior.</p> 
<p>MicroStrategy (NASDAQ: MSTR), a prominent corporate Bitcoin holder, <a href="https://tokenist.com/btc-report-microstrategys-holdings-surge-to-402100-btc-with-1-5b-buy/" rel="dofollow" class="deco-link">recently added 15,400 Bitcoin for $1.5 billion</a>, showcasing its unwavering confidence in Bitcoin’s long-term value. <br><br>This acquisition contributed to a 2% jump in Bitcoin’s price, emphasizing the impact of institutional buy-ins on market sentiment. Nonetheless, the volatility of MicroStrategy’s stock, which outpaces Bitcoin by 2.5 times, presents opportunities and risks for options traders.</p> 
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<h3 id="meanwhile-in-the-cryptoverse">Meanwhile, in the Cryptoverse…</h3> 
<p>The Asia-Pacific region is emerging as a significant player in the global crypto landscape. A recent <a href="https://www.coindesk.com/coindesk-news/2024/12/03/apac-will-lead-the-next-phase-of-global-crypto-growth-report" target="_blank" aria-label="CoinDesk report (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">CoinDesk report</a> highlights the region’s potential for innovation and growth, indicating a shift in the crypto industry’s geographic focus.</p> 
<p>Meanwhile, the U.S. government’s decision to <a href="https://finance.yahoo.com/news/silk-road-bitcoin-worth-nearly-173318905.html" target="_blank" aria-label="move nearly $2 billion worth of Bitcoin (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">move nearly $2 billion worth of Bitcoin</a> from Silk Road to Coinbase Prime has sparked discussions about potential market implications. Observers argue that selling such a large amount of Bitcoin could have strategic consequences, with some viewing it as a missed opportunity to strengthen national reserves.</p> 
<p>In the broader crypto ecosystem, Bitcoin’s influence remains substantial. The supply of Bitcoin on exchanges has reached a near-four-year low, suggesting heightened investor demand and a preference for holding rather than selling. According to analysts, this trend, coupled with Bitcoin’s record-setting liquidity index, points to potential price peaks of $110,000 by early 2025.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/btc-report-exchange-supply-hits-4-year-low-as-market-cap-stays-above-1-8t/">BTC Report: Exchange Supply Hits 4-Year Low as Market Cap. Stays Above $1.8T</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

BTC Report: Exchange Supply Hits 4-Year Low as Market Cap. Stays Above $1.8T

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