FameEX Morning Crypto News Recap | January 7, 2025
2025-01-07 09:06:55CryptoQuant CEO Predicts Bitcoin Bull Run May Set Record for Longest Cycle
CryptoQuant CEO Ki Young Ju forecasts that this Bitcoin bull cycle may be the longest in history, fueled by consistent capital inflows. He underscores ongoing market growth and sees substantial untapped potential for further expansion and development in the future.
Global Digital Asset Investment Products Hit Record $44.2 Billion Inflows in 2024
A CoinShares report shows global digital asset investment product inflows hit a record $44.2 billion in 2024, nearly four times 2021 levels. Bitcoin led with $38 billion (29% of AuM), followed by Ethereum at $4.8 billion (26%) and altcoins with $813 million (18%).
NVIDIA Becomes the World's Most Valuable Company, Surpassing Apple in Market Cap
According to CompaniesMarketCap, NVIDIA has surpassed Apple to become the world's largest company by market value. NVIDIA's market capitalization reached $3.72 trillion, narrowly exceeding Apple's valuation of approximately $3.719 trillion.
Analysts Highlight BTC On-Chain Transaction Demand Nearing Historic Lows
On January 6, cryptocurrency analyst Miles Deutscher observed that although BTC is approaching $100,000, on-chain transaction demand has significantly declined. He attributed this trend to institutional investors, ETFs, and countries driving the market, making it distinct from previous cycles dominated by retail investors and smaller-scale transactions.
JPMorgan: Investors Turn to Gold and Bitcoin as Primary Hedging Tools
JPMorgan’s January 3 report highlights rising investor interest in gold and Bitcoin as hedging tools amid geopolitical uncertainty. In 2024, BTC futures' net open interest climbed from $18 billion in January to over $55 billion by December. Bitcoin ETFs saw renewed inflows in September, surpassing $100 billion in net assets by November.
Bitcoin Supporter Pierre Poilievre Named Leader of Canada’s Conservative Party
Canada’s Conservative Party has chosen pro-Bitcoin Ontario MP Pierre Poilievre as its new leader. Poilievre plans to challenge Prime Minister Justin Trudeau in the 2025 federal election. As a vocal supporter of Bitcoin, he seeks to make Canada a global hub for blockchain technology and cryptocurrency innovation.
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