Bitcoin Hits New High On Santa Rally Expectations

블록스트리트 등록 2024-12-16 17:12 수정 2024-12-16 17:12

BTC Continues To Break New Report After Breaking 100K
Many Altcoins Record 5% Upside Following on BTC Rises
Michael Saylor "Keep to buy BTC even if it's over $100,000"

Bitcoin Hits New High On Santa Rally Expectations
Bitcoin(BTC) continued to break new highs on Dec. 16, surpassing USD 1 million in anticipation of 'Santa Rally'.

Around the Christmas season, expectations for Santa Rally spread to the market, where the U.S. stock market and the asset market, including cryptocurrency, hold a surprise rally. DL News, a cryptocurrency media outlet, reported on Dec. 15, "Virtual assets have risen eight times in the past 10 years around Christmas. U.S. President-elect Donald Trump's inauguration in January and the increase in institutional adoption are also having a positive impact."

In particular, there was an interpretation that Bitcoin rose as CEO Jack Malus Strike, who helped El Salvador adopt Bitcoin's legal currency in 2021, delivered Trump's active claim to adopt Bitcoin.

Jack Malus appeared on a YouTube podcast on the 16th and said, "President-elect Trump can buy Bitcoin under the Bitcoin Collection Act on the first day of his presidency to protect the dollar," adding, "If the bill is implemented, what is important is the meaning of the action beyond the Bitcoin Collection of the U.S. government."

In fact, Rep. Cynthia Lummis proposed the 2024 Bitcoin bill in July this year. The 2024 Bitcoin bill contains a clause that states that the U.S. Treasury Department and the U.S. Federal Reserve will buy 200,000 Bitcoin every year and buy 1 million Bitcoin over a total of five years.

A number of altcoins also showed surprise rallies from the morning in Bitcoin's rally. Various altcoins recorded gains of more than 5%.

◇Bitcoin = Bitcoin price is $104,926 at 4:30 p.m. on Dec. 16, 2024.The Bitcoin share(dominance) was 57.45%.

The long(up) and short(down) betting ratios in the Bitcoin futures market stood at 40.56% and 59.44%, according to the on-chain analytics platform Sigbtc.

With Bitcoin exceeding $100,000, the news of Michael Saylor, who constantly bought Bitcoin, broke.

Michael Saylor announced on his X account on the 16th when MicroStrategy, which he founded, purchased Bitcoin. According to the timing of the Bitcoin purchase released by Saylor, MicroStrategy started to purchase Bitcoin at 5 p.m. on the 13th. At 5 p.m. on the 13th, Bitcoin's price is $10,880, the first bitcoin transaction of more than $100,000 since MicroStrategy bought Bitcoin in 2020.

Michael Saylor stressed that he will not stop buying Bitcoin and will continue to buy Bitcoin even if it continues to trade at more than $1 million.

MicroStrategy recorded a 500% increase in its stock price this year along with the soaring price of Bitcoin this year, attributed to founder Michael Saylor's "Bitcoin Buy All-In Strategy" that began in 2020. MicroStrategy's Bitcoin holdings were about 423,650 as of Dec. 16.

◇Upward Coin = The cryptocurrency that recorded the largest increase from the previous trading day at 4:30 p.m. on Dec. 16 was Mocabus(MOCA), which rose about 185%.

Mocabus soared with the listing of Upbit on Dec. 16.

Mocabus is the first blockchain project of its own by global blockchain investor Animoka Brands. It supports deposits and withdrawals through the Ethereum network.

Upbit introduced Mocabus as "a project to secure cultural interoperability of the Web3 ecosystem through token and point systems."

The project will provide various functions from the perspective of education, games, and development to holders of the Mocabus NFT, and will secure utilities in conjunction with several projects in the ecosystem.

◇Fear Greed Index = The cryptocurrency fear-greed index provided by Alternative has entered the phase of 'Extreme Greed' with 83 points. Extreme Greed is an upward phase accompanied by high trading volume and strong volatility. It can be said that it is a selling section for institutions as it is highly likely to leave the market at its peak.

The cryptocurrency relative strength index (RSI) provided by Sigbtc was 75.7, which was 'overbought'. RSI sets the relative strength between the upward and downward pressure of a particular asset price and is an indicator of a measure of overbought and over-selling of a particular asset.

권승원 기자 ksw@blockstreet.co.kr