Bitcoin is currently priced at $106,060, Bitcoin is up 1.52% in the past 24 hours, while Ethereum trades at $3,986, up 0.69%. The Fear and Greed Index rose to 87 (Extreme Greed) today, reflecting bullish market sentiment. As Bitcoin surged to a new all-time high of $107,000 on December 16th, MicroStrategy bought 15,350 BTC for $1.5 billion bringing its total to 439,000 BTC worth $45.6 billion. Ripple’s RLUSD stablecoin, is launching on December 17, 2024.
Crypto investment products recorded $3.2 billion in inflows last week marking the 10th straight week of growth. Furthermore, total inflows for 2024 reached $44.5 billion with $20.3 billion in the past 10 weeks alone accounting for 45% of the year’s total. Ethereum products added $1 billion last week hitting seven straight weeks of inflows. Investor confidence is at record highs as crypto markets gain momentum.
What’s Trending in the Crypto Community?
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MicroStrategy (MSTR): Purchased approximately 15,350 Bitcoin with about $1.5 billion in cash.
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Semler Scientific: Purchased 211 Bitcoins again; Riot acquired 667 Bitcoins at an average price of $101,135 per BTC.
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Solv Protocol: Announced that SOLV will be listed on Hyperliquid.
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Base Network: TVL broke through $14 billion, setting a new all-time high.
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Ripple (XRP): Ripple USD (RLUSD) stablecoin will release on December 17.
Crypto Fear & Greed Index | Source: Alternative.me
Trending Tokens of the Day
Top 24-Hour Performers
MicroStrategy Adds $1.5 Billion in Bitcoin
Source: Michael Saylor on X
MicroStrategy bought 15,350 BTC between December 9 and 15 for $1.5 billion at an average price of $100,386 per Bitcoin. This brings MicroStrategy’s total holdings to 439,000 BTC worth $45.6 billion. The company has spent $27.1 billion on its Bitcoin treasury with an average purchase price of $61,725 per BTC. CEO Michael Saylor remains resolute saying he will continue buying Bitcoin even above $100,000.
On December 9, MicroStrategy added another 21,550 BTC further cementing its dominance as the largest corporate Bitcoin holder. At current prices MicroStrategy’s holdings account for nearly 0.5% of Bitcoin’s fixed supply of 21 million. Their aggressive acquisition strategy reflects deep confidence in Bitcoin’s ability to preserve value and outpace inflation over time.
Source: Michael Saylor on X
Ripple’s RLUSD Stablecoin is Launching on December 17th
Source: KuCoin
Ripple will launch its RLUSD stablecoin on December 17, 2024 on the XRP, Ledger and Ethereum networks. Early listings include Uphold, MoonPay, Archax, and CoinMENA with more platforms like Bitso and Bitstamp to follow.
Ripple added Raghuram Rajan, former Reserve Bank of India governor, and Kenneth Montgomery, former Federal Reserve Bank of Boston vice president, to its advisory board. CEO Brad Garlinghouse confirmed RLUSD is fully backed by U.S. dollar deposits, government bonds, and cash equivalents.
Ripple CTO David Schwartz warned of early RLUSD volatility due to limited supply, with some traders willing to pay as much as $1,200 per token. “Please don’t FOMO into a stablecoin,” he said.
RLUSD will launch in the Americas, Asia-Pacific, UK, and Middle East. Ripple is exploring entry into the E.U. pending regulatory approval.
Read more: What Is RLUSD? A Comprehensive Guide to Ripple's Stablecoin and Its Impact on XRP
Bitcoin Enters “Santa Claus Mode” Hitting $107,000
Bitcoin rallied 5% on December 15th reaching $106,554 before stabilizing at $106,000. The surge comes just days after BTC broke through $104,000 on December 5. Bitcoin has climbed over 190% year-to-date. CK Zheng CIO of ZK Square said Bitcoin has entered “Santa Claus mode” as year-end demand increases with investors fearing they will miss out.
Jack Mallers CEO of Strike added to the excitement suggesting that President-elect Donald Trump could issue an executive order on day one to make Bitcoin a U.S. reserve asset.
Mallers said “There’s potential to use a day-one executive order to purchase Bitcoin. It wouldn’t be the size and scale of 1 million coins but it would be a significant position.”
Bitcoin’s December surge signals growing demand from institutional and retail investors as the year closes.
Crypto Investment Products See $3.2 Billion Weekly Inflows
Flows by assets (in millions of US dollars). Source: CoinShares
Crypto investment products recorded $3.2 billion in inflows between December 9 and 13. This marked the 10th consecutive week of gains. Total inflows for 2024 hit $44.5 billion with $20.3 billion coming in the last 10 weeks alone.
Bitcoin investment products led with $2 billion in inflows reflecting strong institutional demand. Since the U.S. presidential election Bitcoin-related products have seen $11.5 billion in inflows. Short Bitcoin products recorded inflows of $14.6 million although total assets under management remain at $130 million.
BlackRock’s iShares Bitcoin Trust ETF led inflows with $2 billion while Grayscale’s Bitcoin Trust saw outflows of $145 million. These shifts highlight investor preference for newly launched ETF products.
Flows by countries (in millions of US dollars). Source: CoinShares
Ethereum ETPs Hit $1 Billion Weekly Inflows
Ethereum investment products added $1 billion in inflows last week marking the seventh consecutive week of growth. Total inflows for Ether-based products over the seven-week period reached $3.7 billion. Ethereum trades near $4,003 showing steady upward momentum driven by institutional interest and growing use in decentralized finance.
Ethereum products remain the second-largest driver of inflows behind Bitcoin highlighting its utility in smart contracts and DeFi ecosystems.
Read more: What Is an XRP ETF, and Is It Coming Soon?
Global Inflows Reflect Market Confidence
The United States led all regions with $3.1 billion in inflows followed by Switzerland with $35.6 million and Germany with $33 million. Sweden recorded the only outflows last week totaling $19 million. These figures underscore the growing global acceptance of Bitcoin and Ethereum as key investment assets.
Institutional players continue to dominate with products like BlackRock’s Bitcoin ETF drawing billions in capital. Investors see Bitcoin and Ethereum as reliable stores of value in volatile markets with Bitcoin outperforming gold and equities year-to-date.
Conclusion
Bitcoin’s rise to $106,500 reflects growing institutional confidence and increased global demand. MicroStrategy’s $1.5 billion purchase reinforces Bitcoin’s long-term value as a reserve asset. Crypto investment products saw $3.2 billion in inflows last week bringing 2024’s total to $44.5 billion. Ethereum investment products added $1 billion marking consistent growth for the second-largest cryptocurrency. Speculation on Bitcoin becoming a U.S. reserve asset continues to drive momentum as 2024 approaches.
