This article was originally published in First Mover, CoinDesk’s daily newsletter. It puts the latest crypto market moves into context.

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According to a memo published, representatives from BlackRock (BLK), Nasdaq and Securities and Exchange Commission met for the second meeting in a week to discuss necessary rule changes to list the exchange-traded spot bitcoin (BTC). “The discussion was about The NASDAQ Stock Market LLC’s proposed rule change for listing and trading shares of the iShares Bitcoin Trust in accordance with Nasdaq Rule 5711 (d)”, according to the memo. The Nasdaq Rule establishes regulatory guidelines and specific criteria for listing and trading Commodity-Based Trust shares on the Nasdaq Exchange. It also details requirements for initial and continuing listing as well as surveillance and compliance measures for market integrity and fraud protection.

A combination of catalysts, historical behavior, and may propel bitcoin (BTC), to $160,000, in an expected bull market that analysts believe could start in 2024. The demand for bitcoin by several exchange-traded fund (ETF) spots in the U.S. and the upcoming reward halving, as well as growth in the broader stock markets due to lower interest rates, could push bitcoin to $50,000 or more in the near future, according to We argue that the crypto and bitcoin markets will have a good year in 2024, mainly due to: The market valuation cycle; 2. The network activity. Bitcoin halving, 3. The macroeconomic perspective. Bitcoin spot ETF approval, 6. CryptoQuant analysts stated that stablecoin liquidity is growing.

Michael Saylor, Executive Chairman of MicroStrategy, in an appearance on Bloomberg TV on Tuesday, warned that markets shouldn’t undervalue the importance of the upcoming spot bitcoin (BTC), ETFs. He said that the last similar product, the S&P 500, allowed investors to gain exposure to the index with a single click. Saylor said that mainstream investors, whether they are individuals or institutions, haven’t had an easy way to invest in bitcoin. This is about to change, thanks to the new spot ETF.

Chart of the Day

  • The weekly trading volume of Korean crypto exchanges has reached a record high for the year.
  • Upbit, Coinone Bithumb, and Korbit are Korean exchanges that have reached a record high of 24 billion dollars in early December.
  • The increase is eight times greater than in September.
  • Kaiko says that the Korean markets are dominated primarily by altcoins. These coins account for over 80% of all trading volume, and they typically increase their trading activity when there is a high-risk market environment.
  • Source: Kaiko

Lyllah Ledesma

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Sheldon Reback is the editor.