Bitcoin dropped to $73,281 after Trump denied a Strait of Hormuz deal, wiping out $270M in positions within 60 minutes. BlackRock's IBIT saw a $527M outflow.
Strategy Inc. spent $2.01 billion to buy 24,869 BTC in its latest weekly purchase, lifting total holdings to 843,738 BTC and moving ahead of BlackRock’s spot Bitcoin ETF.
Crypto market cap climbed to $2.25T (+1.7%). Bitcoin hit $63,283, ETH $1,662. VELVET surged 86%, STG +43%. Fear & Greed remained at 12. NFTfi shut down; BlackRock filed Form 8-A for BITA ETF; SEC proposed repealing Reg NMS Rule 611.
Ondo Finance has launched tokenized versions of BlackRock’s IVV ETF and Micron shares on Ethereum using a structure built around the SEC’s staff view on third-party tokenized securities, while keeping the underlying assets in the traditional U.S. custody system.
According to Lookonchain, addresses associated with BlackRock’s ETF have recorded net Bitcoin outflows for 10 consecutive trading days, totaling 35,980 BTC, or about $2.24 billion based on the cited valuation. The data points to a sustained reduction in BTC holdings at the address level and offers another on-chain reference point for tracking spot Bitcoin ETF flows. The update was reported by ChainCatcher.
Bitcoin opened December with a sharp 8% drop from $91,866 to $84,722, marking the worst daily decline in two months. The selloff was triggered by a confluence of factors: a security exploit in Yearn Finance's yETH pool that caused panic across DeFi, a spike in Japanese government bond yields as the Bank of Japan hinted at a December rate hike, and extremely low weekend liquidity that amplified selling pressure. Over 220,000 traders were liquidated in 24 hours, with total losses exceeding $630 million. On the institutional side, MicroStrategy added 130 BTC to its holdings (now 650,000 BTC), while BlackRock increased its IBIT position by 14% and JPMorgan launched a structured note tied to the ETF. Bitcoin has since rebounded to $86,469, but the market remains jittery ahead of the Federal Reserve's December meeting, where rate cut odds stand at 80-87%.
