OSL Trading Time: Bitcoin breaks through $100,000, and China Asset Management’s Bitcoin ETF daily trading volume hits a record high

1. Market observation

Keywords: BTC, XRP, ETH

The Bitcoin market hit a new high. Fundstrat analyst Tom Lee said that the milestone of breaking through the $100,000 mark has dominated the recent trend of the cryptocurrency market and resonated with the optimistic outlook of the S&P 500 index. After reaching a high of $103,647, the price of Bitcoin crashed to around $90,000 and then rebounded to around $98,000, which prompted many traders to start deploying hedging strategies, and also caused some experts to worry about market bubbles. The market heat continued to rise, and the daily trading volume of China Asset Management's Bitcoin ETF exceeded HK$370 million, setting a record high since its listing. Institutional investment enthusiasm remains high, and Semler Scientific invested $29.3 million to increase its holdings of Bitcoin. At the same time, Ethereum also followed the trend of the market and set a new high of $3,956 this year.

As the first country in the world to include Bitcoin in its legal tender, El Salvador’s investment strategy is reaping rich rewards. The value of its Bitcoin holdings has risen to $603 million, with a 124% return. This success story has not only won praise from Tesla CEO Elon Musk, but also led to the strong performance of the country’s sovereign bonds, making it one of the best performing bonds in emerging markets.

The enthusiasm of the business community for cryptocurrencies is also growing. As Bitcoin broke through $100,000, the stock price of cryptocurrency giant MicroStrategy rose 8%. Manufacturing company Worksport also joined the layout and announced that it would allocate 10% of its operating cash to Bitcoin and XRP, which directly pushed its stock price up 9%.

In terms of market prospects, ARK Investments CEO Cathie Wood remains optimistic. She believes that even though the market value of Bitcoin has reached 2 trillion US dollars, it is still in the early stages of growth. Although Ethereum hit a record high of 183.74 billion US dollars in monthly trading volume in November, it still needs to overcome many obstacles to break through the 4,000 US dollar mark. It is worth mentioning that former President Trump expressed his position through his social platform Truth Social, claiming that the latest breakthrough of Bitcoin is inseparable from his personal influence.

2. Key data (as of 09:49 HKT on December 6)

• S&P 500: 6,075.11 (+27.37% year-to-date)

• Nasdaq: 19,700.72 (+31.24% year-to-date)

• 10-year Treasury yield: 4.222% (+30.31 basis points this year)

• US dollar index: 105.898 (+4.57% year-to-date)

• Bitcoin: $98,481.93 (+133.01% year-to-date), with a daily spot volume of $155.61 billion

• Ethereum: $3,879.62 (+70.05% year-to-date), with a daily spot volume of $60.9 billion

3. ETF flows (December 5 EST)

• Bitcoin ETF: -$3.8 million

• Ethereum ETF: +$135.8 million

4. Important Dates (Hong Kong Time)

ISM Manufacturing PMI (11:00 p.m., December 2)

• Actual: 48.4 / Previous: 46.5 / Expected: 47.5

JOLTS job openings (December 3 at 11:00 pm)

• Actual: 7.744 million / Previous value: 7.372 million / Expected: 7.49 million

ISM Services PMI (11:00 p.m., December 4)

• Actual: 52.1 / Previous: 56 / Expected: 55.5

Non-farm payrolls (09:30 p.m., December 6)

• Actual: To be announced / Previous value: 12,000 / Expected: 183,000

Unemployment rate (09:30 p.m., December 6)

• Actual: To be announced / Previous value: 4.1% / Expected: 4.1%

5. Hot News

• Pudgy Penguins will issue $PENGU tokens in 2024, with 25.9% allocated to the Pudgy community

• The UK government currently holds nearly $6 billion in BTC

• Grayscale DeFi Fund's latest holdings: UNI accounts for more than 58%, and AAVE ranks second with 18.65%

• The first aelf halving will take place on December 12, with the block reward dropping to 0.0625 ELF

• Fundstrat Research Director: Bitcoin breaking $100,000 is a signal for a year-end stock market rally

• Trump nominated David O. Sacks as White House Director of Cryptocurrency and Artificial Intelligence, ZRX rose 22% to $0.8159 in a short period of time

• Florida plans to build a strategic Bitcoin reserve by 2025, with an investment of more than $3 billion

• Bitcoin fell to around $90,000 this morning, but has now rebounded to $97,000

• Trump posts to celebrate Bitcoin breaking $100,000

• In the past 24 hours, the entire network has liquidated $1.096 billion, and long orders have liquidated $817 million

• Coinbase International will launch Moo Deng, Algorand, The Sandbox, and Mog Coin perpetual futures contracts

• The Financial Times publicly apologizes to readers for 14 years of negative coverage of cryptocurrencies

• Semler Scientific, a US-listed company, spent $29.3 million to increase its holdings of 303 BTC

• Worksport, a US listed company, announced that it will purchase Bitcoin and XRP as reserve assets

• Standard Chartered Bank: Bitcoin could reach $200,000 by the end of 2025

• a16z releases top 10 trends in the crypto industry in 2025: including AI wallets, DAC, stablecoin payments, etc.

• 10x Research: ETH is testing the upper boundary of the triangle and is expected to challenge the historical high after breaking through

• China Asset Management's Bitcoin ETF's daily trading volume exceeds HK$370 million, setting a new record since its listing

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