In the past week, the price of BTC has shown an upward trend. On December 10, after hitting a low of $94,256, the price stabilized and rose above $100,000. It broke through $105,000 and $107,000 on the 16th and 17th, reaching a peak of $107,793.07 ATH, with a maximum increase of 14.36% during the week. As of the publication of this article, the BTC price is stable around $107,000, up about 5.6% compared to last Friday's close. Influenced by BTC, ETH also rose to $4,107.8 on December 16, marking the highest price recorded since December 2021, slightly above the peaks in March and early December of this year. (The above data is sourced from Binance spot, December 17, 16:30).
The market believes that multiple bullish factors, including Trump's pro-crypto appointments and ongoing interest rate cuts, will accelerate BTC's upward momentum, with BTC prices potentially reaching $125,000 by the end of 2025.
Market Interpretation
The three major U.S. stock indices show mixed trends, but market sentiment remains bullish
As of the close on December 16, the three major U.S. stock indices showed mixed trends. The Dow Jones fell by over 110 points, marking its eighth consecutive day of decline, the longest losing streak since April of this year; the Nasdaq hit a new high, rising by 1%, while the S&P 500 rose by 0.4%. In individual stocks, Broadcom surged over 20% last Friday, surpassing a market cap of $1 trillion, and then rose another 11%. In contrast, Nvidia fell by 1.7%.
Goldman Sachs analysts believe that with the dual push of an optimistic economic outlook and expectations of Trump easing regulatory policies, the S&P index may continue its current bull market trend. By 2025, the S&P index is expected to rise by 7%, reaching 6,500 points.
MicroStrategy to be included in the Nasdaq 100, increasing BTC's visibility
On December 14, the Nasdaq 100 index announced the results of its annual component stock adjustments, with MicroStrategy set to be included in the Nasdaq 100 index on December 23.
This year, MicroStrategy's stock price has skyrocketed more than sixfold, with a market cap nearing $94 billion. With MicroStrategy officially joining the index, it may further boost its stock price. Additionally, MicroStrategy continues to increase its BTC holdings through bond or stock issuance, further consolidating its position and enhancing BTC's market exposure while attracting more investor attention.
BTC spot ETF teams up with ETH spot ETF, with inflows reaching a historic high
Crypto funds continue to be favored by institutional investors, with inflows reaching a historic high. According to CoinShares data, over the past four weeks, global cryptocurrency funds have recorded net inflows totaling $3.2 billion. This positive trend has brought the total inflows for the year to date to $44.5 billion, more than four times that of any previous year.
Among them, the U.S.-listed BTC ETF has performed particularly well. In the past week, the BTC ETF attracted $2.17 billion in net inflows, with total inflows exceeding $5.3 billion since its launch in January this year. Meanwhile, the ETH ETF has also recorded seven consecutive weeks of net inflows, totaling $1 billion, with market optimism for ETH continuing to rise, driving sustained inflows.
U.S. core inflation annual rate released, in line with expectations
On December 11, data from the U.S. Bureau of Labor Statistics showed that the U.S. core CPI inflation annual rate was 3.3%, rising for the second consecutive month. It increased from 2.6% in October to 2.7% in November, in line with market expectations. Part of the increase is attributed to a low base from last year.
On a monthly basis, CPI rose by 0.3%, marking the largest increase since April, slightly above October's 0.2%, also in line with expectations. The housing index rose by 0.3%, accounting for nearly 40% of the increase. Core CPI rose by 0.3%, consistent with October's increase and in line with expectations.
Market Highlights
Trump plans to use the U.S. Treasury's $200 billion foreign exchange stabilization fund to establish BTC reserves
On December 17, according to Cryptoslate, Trump plans to establish a Strategic Bitcoin Reserve (SBR) through an executive order, intending to use the Treasury's Exchange Stabilization Fund (ESF) to purchase BTC. The ESF is typically used to respond to financial crises, with total assets exceeding $200 billion as of October 2024. If implemented, this plan would position the U.S. at the forefront of the global BTC reserve race.
At the same time, several U.S. states have begun to promote BTC reserve legislation, including Pennsylvania and Texas. Additionally, countries such as Brazil, Poland, and Japan are also discussing proposals to establish national BTC reserves.
Trump's DeFi project WLFI makes a significant purchase of $45 million in tokens, highlighting pro-crypto stance
Trump's DeFi project World Liberty Financial (WLFI) made a significant purchase of crypto assets in December, spending nearly $45 million, including ETH, cbBTC, LINK, AAVE, ENA, and the latest ONDO.
WLFI was launched in September and claims to be a DeFi platform for cryptocurrency trading, with former President Trump listed as the "Chief Crypto Advocate." Trump's sons, Donald Trump Jr., Eric Trump, and Barron Trump, serve as "ambassadors." Companies associated with the family are entitled to receive 75% of the net income.
Increased investment intentions from institutions and companies in BTC, Metaplanet announces issuance of 4.5 billion yen bonds to purchase Bitcoin
On December 17, Japanese listed company Metaplanet Inc. announced the issuance of its fourth series of ordinary bonds, totaling 4.5 billion yen (approximately $30 million), with the raised funds intended to accelerate the purchase of BTC. The bonds have a zero annual interest rate and are expected to mature on June 16, 2025. The redemption funds for the bonds will primarily be paid through the proceeds from previously issued warrants. Additionally, Metaplanet plans to issue private bonds totaling up to 5 billion yen in multiple issuances in the future to further expand its capital operation capabilities.
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