Vivek Ramaswamy’s Strive Asset Management Files for Bitcoin Bond ETF with SEC

TL;DR

Delays After Delays

Pi Network – the controversial cryptocurrency project that claims to allow people to mine digital assets from their smartphones – continues to raise eyebrows across its community. It was launched more than five years ago, but the open mainnet and native token have yet to be introduced.

Earlier this year, the team said the first huge target is the release of the Open Network. They also stated this could become possible once users pass necessary Know-Your-Customer (KYC) verifications and migrate to the mainnet (known as the Grace Period).

The initial deadline for that was September 30, while later, it wasmoveda few more times to December 31. Most recently, the Pi Network teamannouncedanother extension to January 31:

“We’re extending both KYC and Mainnet Migration Grace Period deadlines to January 31, 2025, to help include more Pioneers and their Pi as we prepare for Open Network in Q1 2025.”

Somewhat expectedly, this was not accepted well by some members of the community who have been waiting for serious developments for years.

“It has been your trend of doing things. We’re not surprised. You have always lied. Those dates are not even real: delay, delay, delay, until project dies,” one frustrated user said.Shiba Inu’s Latest Project

The popular meme coin recently launched a virtual world called “SHIB: The Metaverse.” The project, described as “groundbreaking” by Shibarium’s Marketing lead LUCIE, enables users to own, trade, and develop virtual real estate recorded on the blockchain.

Additionally, people can build their own vision, create personalized avatars, and connect globally with other members of the SHIB community.

In the past few years, Shiba Inu has introduced many other projects, thus showcasing its evolution from a meme coin to a broader ecosystem. Examples are the layer-2 scaling solution Shibarium and the blockchain-based games Shiboshi Rush and Shiba Eternity.BTC Price Condition

We’ll wrap up today’s recap with some information about the primary cryptocurrency, which has experienced a substantial price decline lately.

Bitcoin (BTC) reached a new all-time high of over $108,000 on December 17, but since then, it has plummeted by 12% to its current $95,000 (per CoinGecko’s data).

As CryptoPotato reported, the downfall started shortly after the Federal Reserve announced another 0.25% rate cut. However, the central bank’s Chairman – Jerome Powell – hinted that this policy might be paused next year due to rising inflation concerns. He also added that the Fed is not allowed to hold BTC, casting doubt on Trump’s proposed plan to establish a strategic BTC reserve in the USA.

One important factor signaling that the asset’s correction might intensify in the short term is the increased exchange netflow. On December 26, the technical analyst Ali Martinez maintained that 33,000 BTC (currently valued at over $3.1 billion) had been sent to platforms in the past week.

The move indicates that investors may be preparing to offload their holdings. Large sell-offs would result in increased circulating supply, which, combined with non-rising demand, could put downward pressure on Bitcoin’s price.

Crypto and animal welfare have never been more interconnected, using blockchain to fund and promote animal rights initiatives around the globe.

At Thailand’s Khao Kheow Open Zoo, Ethereum co-founder Vitalik Buterin made headlines when he adopted Moo Deng, a juvenile pygmy hippopotamus. A $10 million Thai Baht ($290,000) donation to the zoo’s conservation efforts is part of this heartwarming gesture.

News of the adoption raised MOODENG token values over 70%, suggesting growing interest in meme coins. Following the news, trading volume surged by 380%, implying that fresh investors jumped in to join the thrill around this special digital asset.

According to David Lawant of FalconX, Bitcoin is on track to experience the largest options expiry to date.

As noted by the anayst, there is a whopping $15 billion of option interest on the line. This sum represents 43% of the total current option interest. This expiry would also be three times larger than the one that took place last December.

When it comes to the strike distribution for the expiry that is going to take place on Friday, calls within the $90,000-$120,000 range are the largest positoins. Puts are trailing at $80,000-$90,000 strikes.

"With annual delivery today and $18 billion in options expiring for the last delivery of the year, the theme of the week continues to be adjustment," Greeks.live said in a recent statement.

As noted by the platform, the year-end rally made the market more optimistic about the upcoming year. As of now, the market is less heated overall because of the impact of Christmas on the annual delivery.

Recently, FalconX said that downside protection has been rising over the past few weeks, with market participants trying to protect their performance metrics. The put/call ratio on the Friday options recently experienced a sharp increase. However, the market's defensive positioning is more focused on short-term price action. "The market typically favors BTC calls, but hedging demand has been rising," Lawant said.

According to Lawant, Bitcoin options are emerging as a core force in Bitcoin's price discovery.

Bitcoin is currently trading at $96,161, according to the latest CoinGecko data. Earlier this week, the cryptocurrency came close to reclaiming the $100,000 level.

Ethereum price started a fresh decline from the $3,550 resistance. ETH is now showing bearish signs and might slide below the $3,300 level.

• Ethereum started a fresh decline from the $3,550 zone.
• The price is trading below $3,450 and the 100-hourly Simple Moving Average.
• There was a break below a connecting bullish trend line with support at $3,450 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could gain bearish momentum if it settles below the $3,300 level.

Ethereum Price Dips To Support

Ethereum price struggled to continue higher above the $3,550 resistance and started a fresh decline like Bitcoin. ETH traded below the $3,450 and $3,420 support levels.

There was a break below a connecting bullish trend line with support at $3,450 on the hourly chart of ETH/USD. The pair even dipped below the 50% Fib retracement level of the upward wave from the $3,225 swing low to the $3,543 high.

Ethereum price is now trading below $3,450 and the 100-hourly Simple Moving Average. It is now testing the $3,300 support and is above the 76.4% Fib retracement level of the upward wave from the $3,225 swing low to the $3,543 high.

On the upside, the price seems to be facing hurdles near the $3,380 level. The first major resistance is near the $3,420 level. The main resistance is now forming near $3,500. A clear move above the $3,500 resistance might send the price toward the $3,550 resistance.

An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,720 in the near term.

More Losses In ETH?

If Ethereum fails to clear the $3,420 resistance, it could continue to move down. Initial support on the downside is near the $3,320 level. The first major support sits near the $3,300.

A clear move below the $3,300 support might push the price toward the $3,250 support. Any more losses might send the price toward the $3,220 support level in the near term. The next key support sits at $3,110.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now below the 50 zone.

Major Support Level – $3,300

Major Resistance Level – $3,420

Bitcoin price failed to surpass $100,000 and corrected gains. BTC is back below $96,500 and might revisit the $93,200 support zone.

• Bitcoin started a fresh decline from the $99,400 zone.
• The price is trading below $96,500 and the 100 hourly Simple moving average.
• There was a break below a connecting bullish trend line with support at $98,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could start another increase if it stays above the $95,000 support zone.

Bitcoin Price Dips Again

Bitcoin price started a decent upward move above the $96,500 resistance zone. BTC was able to climb above the $97,500 and $98,000 resistance levels.

The pair cleared the $99,000 resistance level and traded close to the $100,000 resistance level. A high was formed at $99,400 and the price recently started a fresh decline. There was a move below the $96,500 support. The price dipped below the 50% Fib retracement level of the upward wave from the $92,415 swing low to the $99,400 high.

Besides, there was a break below a connecting bullish trend line with support at $98,400 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading below $96,500 and the 100 hourly Simple moving average.

The price is now holding the $95,000 zone and the 61.8% Fib retracement level of the upward wave from the $92,415 swing low to the $99,400 high. On the upside, immediate resistance is near the $96,400 level. The first key resistance is near the $97,750 level.

A clear move above the $97,750 resistance might send the price higher. The next key resistance could be $99,000. A close above the $99,000 resistance might send the price further higher. In the stated case, the price could rise and test the $100,000 resistance level. Any more gains might send the price toward the $102,000 level.

More Losses In BTC?

If Bitcoin fails to rise above the $96,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $95,200 level.

The first major support is near the $95,000 level. The next support is now near the $93,800 zone. Any more losses might send the price toward the $92,500 support in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $95,000, followed by $93,800.

Major Resistance Levels – $96,500 and $97,750.

The newly launched PENGU token has stolen the spotlight after becoming the largest Solana-based memecoin by market capitalization. The token’s rally has gathered massive interest from large-scale investors, who have heavily invested in the token over the last few days.

New Solana Token Steals The Spotlight

On December 17, the Pudgy Penguins Non-Fungible Token (NFT) project launched its official token, PENGU, on the Solana Blockchain. The token has moved through the ranks, flipping other Solana-based tokens and gathering massive attention in nine days.

Pudgy Penguins, one of the largest NFT collections, consists of 8,888 unique cartoons of cute penguins and has a market capitalization of 205,757 ETH. In anticipation of the token launch, the project surged as the second-largest NFT collection, only falling behind CryptoPunks.

Since its launch three years ago, the project has seen its community significantly grow and “cemented itself in the hearts and minds of everyday people and culture,” according to the project’s team. Additionally, it is expected to contribute to the project’s governance despite not having a specific use case announced yet.

As such, the newly launched cryptocurrency aims to “expand its community and further widen the reach” of the project by allowing old and new users “to align” themselves with the penguins.

According to CoinGecko data, the Solana-based memecoin debuted with a 500% surge to a market capitalization of $3.5 billion but registered massive volatility in the following days.

Just hours after launching, PENGU’s price retraced over 50% before descending to a $1.4 billion market cap on December 20. The token hovered between the $0.025-$0.037 range over a few days, stabilizing around the range’s upper zone on Christmas Eve.

Whales Fill Their Bags As PENGU Flips BONK

Amid the market’s momentary Christmas Day gains, the token broke above this range and climbed to the $0.042 mark on Thursday morning, hitting a $2.6 billion market cap. During this 18% rally, the token flipped dogwifhat (WIF) and BONK to become the largest Solana memecoin by market cap, currently holding its position as the sector’s leader.

PENGU became the fourth largest memecoin by this metric, just behind Dogecoin, Shiba Inu, and PEPE. Additionally, in the last 24 hours, the token has seen a 25% increase in market activity, with a daily trading volume of $1.92 billion.

According to on-chain data analysis firm Lookonchain, Crypto whales have also noticed PENGU’s rally, with several large-scale investors filling their bags over the past week.

On December 24, a whale that had received an airdrop of 116.7 million PENGU, worth $3.52 million, increased its holding with a $1 million purchase. According to the post, the wallet spent 5,250 SOL to buy an additional 34.42 million PENGU, holding a total of 151.12 million PENGU, valued at $5.08 million.

Similarly, another whale exchanged 500,000 ai16z, another trending Solana-based memecoin, today for PENGU. In the past eight days, this investor has spent $2.47 million to buy 79.9 million PENGU, having unrealized profits of around $835,000.

As of this writing, PENGU is trading at $0.038, a 4.8% increase in the daily timeframe.