XRP Information At this time: Ripple’s RLUSD Stablecoin Launch Sparks XRP Rally; BTC Hits $107Ok…

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Bitcoin Hits New Report Excessive Amid MicroStrategy Transfer

On Monday, December 16, bitcoin (BTC) rallied to a brand new excessive of $107,471. MicroStrategy (MSTR) founder and Chairman Michael Saylor introduced its newest buy:

“MicroStrategy has acquired 15,350 BTC for ~ $1.5 billion at ~ $100,386 per bitcoin and has achieved BTC Yield of 46.four% QTD and 72.four% YTD. As of 12/15/2024, we hodl 439,000 BTC acquired for ~$27.1 billion at ~$61,725 per bitcoin.”

The acquisition coincided with information of MicroStrategy’s inclusion within the Nasdaq 100. BTC demand remained sturdy on Monday as buyers thought of Trump’s plans for a Strategic Bitcoin Reserve (SBR).

IG Market Analyst Tony Sycamore commented on BTC putting a brand new document excessive, saying,

“The recent document excessive got here after US President-elect Donald Trump confirmed he intends to ascertain a US Bitcoin strategic reserve. Whereas a significant pullback in Bitcoin has but to materialize after its post-US election rally, we word the growing indicators of bearish divergence on the RSI. Not a cause to fade the transfer nevertheless it does present encouragement pullback to purchase might not be far-off.”

US BTC-Spot ETF Market Extends Influx Streak

On Monday, the US BTC-spot ETF market is on track to increase its web influx streak to 13 classes, the longest since February. Based on Farside Traders:

• Constancy Clever Origin Bitcoin Fund (FBTC) noticed web inflows of $116.1 million.
• ARK 21Shares Bitcoin ETF (ARKB) reported web inflows of $47.7 million.
• Bitwise Bitcoin ETF (BITB) had web inflows of $30.7 million.

Excluding iShares Bitcoin Belief (IBIT) and Invesco Galaxy Bitcoin ETF (BTCO), whole web inflows reached $218.7 million.

MicroStrategy’s buy and sustained BTC-spot ETF continued tilting the supply-demand steadiness in BTC’s favor, driving BTC to new highs.

Bitcoin Value Outlook

On Monday, December 16, BTC rose by 1.51%, following Sunday’s 2.88% achieve to shut at $105,750, a brand new document shut.

Close to-term BTC worth developments stay hinged on SBR developments, US BTC-spot ETF market circulation developments, and US authorities BTC gross sales. A big BTC sale by the US authorities might refuel oversupply fears, doubtlessly pulling costs under $100,000.