Charts of the week: Bitcoin falls under $100,000 but XRP and TRON could extend rally

Ripple and TRON posted over 50% weekly gains and the two altcoins could continue their climb in the altcoin season. As Bitcoin slips under the $100,000 level, it dragged altcoins down with a market-wide correction on Friday. XRP xrp4.54%XRP and TRON trx0.45%TRON could recover and extend the rally next week, according to on-chain and technical indicators. Table of Contents Bitcoin erases...

Bitcoin’s surge signals potential market ‘overshoot,’ BofA strategist warns

With Bitcoin briefly surpassing $100,000 and the S&P 500 posting its best year since 2019, Bank of America’s strategist warns of a potential market overshoot. U.S. stocks and cryptocurrencies are showing signs of overheating, with Bank of America Corp.’s Michael Hartnett warning of a potential “overshoot” in early 2025, Bloomberg reports. The S&P 500’s price-to-book ratio surged to 5.3 times...

WikiLeaks’ Afghan war logs to be immortalized on the Bitcoin blockchain on Dec. 12

WikiLeaks Founder Julian Assange and supporters plan to mint 76,911 Afghan war log files into Bitcoin inscriptions on the Ordinals through Project Spartacus. The collection of documents spanning six years of recounts from the Afghan war titled “Afghan War Diary 2004-2010” is currently available on the WikiLeaks site. The documents released in July 2010, consists of over...

Australia targets non-compliant crypto ATM operators with new task force

Australia has established a task force to crack down on cryptocurrency ATM providers that do not comply with the nation’s anti-money laundering laws. The Australian Transaction Reports and Analysis Centre has issued a warning for crypto ATM operators via a Dec. 6 statement, noting that non-compliance with anti-money laundering laws will result in enforcement actions and penalties. Coin...

Ex-ARK Invest analyst warns against overhyping $10t crypto market cap targets

Placeholder partner Chris Burniske urges a cautious approach, advises balancing optimism with realism to avoid overhyping targets this cycle. Chris Burniske, former analyst at ARK Invest and current partner at Placeholder, a venture capital firm that invests in decentralized networks, has cautioned crypto investors against overhyping market targets as bullish sentiment grows. In a Dec. 6 post on X, Burniske reflected...

Bitcoin ETF trading volume spikes 50% amid BTC drop below 100k

U.S. spot Bitcoin exchange-traded funds recorded $7.1 billion in trading volume on Dec. 5, marking a 50% surge from the previous day, as Bitcoin’s price dropped below $100,000. According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded net inflows of $766.66 million on Dec. 5, extending their six-day streak to a total of over $2.7 billion. BlackRock’s...

Bitcoin drop to $97k as the market liquidated $565 million

Bitcoin shrank under the $100,000 psychological level after hitting a new all-time high yesterday; the Bitcoin market was liquidated to more than half of a billion dollars just in a day. The crypto market, at the time of writing, has seen massive market liquidations of up to $565 million on Bitcoin btc1.77%Bitcoin alone, as the coin reached a...

UK government found to have billions of dollars Bitcoin: Arkham

The UK government was founded by the blockchain analytics platform that held billions of dollars in Bitcoin in the past few years. Arkham Intelligence, on the on-chain analytics data on Dec. 06, has found the wallet that is connected to the UK government that holds 61.245k Bitcoin btc1.77%Bitcoin worth $6 billion. This wallet has also gained profit from the Bitcoin...

Bitcoin’s $100k break boosted bonds in El Salvador

El Salvador bonds emerged as top gainers in emerging-market debt, fueled by Bitcoin’s surge past $100,000. Bitcoin’s btc-3.12%Bitcoin price movement catalyzed a rally for El Salvador bonds on Dec. 5, according to Bloomberg’s indicative pricing data for sovereign-issued debt due in 2035 and 2041. “This is the first time in history that Bitcoin has driven sovereign bonds up...

Bitcoin is a bubble: Charles Bobrinskoy warns of speculative Bitcoin pump

Charles Bobrinskoy of Ariel Investments has warned that Bitcoin is a momentum-driven bubble, predicting an imminent price decline as regulatory and market sentiment shift. Bobrinskoy issued this stark warning about Bitcoin btc-3.12%Bitcoin, labeling the cryptocurrency a “get-rich-quick scheme” driven by momentum rather than intrinsic value. Speaking on CNBC’s The Exchange, Bobrinskoy expressed concerns about Bitcoin’s reliance on minimal regulatory oversight, which...