Bitcoin Sees 11% Drop on Regulatory News, Wiping Out Billions in Open Interest
Bitcoin Sees 11% Drop on Regulatory News, Wiping Out Billions in Open Interest

On January 3, Bitcoin experienced an 11% drop, triggered by news suggesting that the approval of BTC spot ETFs may not happen. This resulted in a multibillion-dollar wipeout of open interest and liquidations. Despite these developments, Bitfinex views them as predictable and healthy for the early months of the year.
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Dive into #Bitfinex Alpha's special outlook edition for 2024! 🚀 Unpacking the top takes on where Bitcoin goes next. Here's what's unfolding 👇
Hot off Bitfinex Alpha's special 2024 outlook edition: A deep dive into the long-term metrics of Bitcoin and the wider crypto market. 📊 Read now! 👇
“It is anticipated that institutional investments will continue to predominantly favor Bitcoin, at least through the first half of 2024.”- #Bitfinex Alpha. Watch the whales. Watch #BTC 👀 thedefiant.io/crypto-leaders…
Exploring the latest in #Bitcoin's market trends? 📈 Our analysts at Bitfinex have been closely monitoring potential short-term price corrections. Get the full picture in this detailed article from @theblock__ theblock.co/post/269313/bi…
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Our special report of Bitfinex Alpha brings you our outlook for 2024 🔭 We remain very positive for #Bitcoin and crypto assets in general, but this does not mean that it’s a straight line from here! Dive into our special edition now: ow.ly/bZ0v50QlaOV
SimpleBTC App Launches Interactive Bitcoin Education with Lightning Rewards
A new educational platform called SimpleBTC App aims to revolutionize Bitcoin learning through: - Interactive lessons combining theory with practical transactions - Lightning Network rewards for completing lessons - Certification system to verify knowledge - Duolingo-style approach to cryptocurrency education The platform was created by Yannick to address the knowledge gap in traditional financial education regarding Bitcoin and monetary systems. [Watch the full demonstration](https://youtu.be/Qe387JdqDoQ)
US Strategic Bitcoin Reserve Announced at White House Crypto Summit

Former President Trump has announced the creation of a US Strategic Bitcoin Reserve at the inaugural White House Crypto Summit. Key developments include: - Executive order establishing a virtual Fort Knox within US Treasury - Commitment to end regulatory crackdowns on crypto - Push for stablecoin legislation by August 2025 Market reaction showed initial price increases on anticipation, followed by a sell-the-news event after the official announcement. The initiative marks a significant shift in US digital asset policy, though immediate market impact remains uncertain. Read more: [Bitfinex Alpha Report](https://blog.bitfinex.com/bitfinex-alpha/bitfinex-alpha-market-losses-rise-as-bulls-hesitate/)
KAIA Token Now Trading on Bitfinex with Zero Maker Fees
Bitfinex has officially launched trading for $KAIA, the native token of KaiaChain. Key details: - Zero fees for maker orders - 4 basis points fee for taker orders - KaiaChain represents Asia's largest Web3 ecosystem - Created through merger of Klaytn & Finschia platforms - Integrated with LINE and Kakao Talk super apps KaiaChain aims to provide Web3 services to millions of users across Asia through established messaging platforms. The blockchain offers Ethereum-equivalent functionality as a Layer 1 solution. Learn more: [Educational Guide](https://blog.bitfinex.com/token/what-is-kaia-kaia/)
Bitfinex Integrates USDT0 for Cross-Chain Operations

Bitfinex has launched support for USDT0, an omnichain version of Tether's USDT stablecoin. Built on LayerZero's Omnichain Fungible Token standard, USDT0 enables: - Seamless transfers across multiple blockchains - No fragmented liquidity or traditional bridges - Support on networks including Ink and Arbitrum One The integration allows Bitfinex users to deposit and withdraw USDT0 across supported chains, streamlining cross-chain operations. [Learn more about USDT0](https://blog.bitfinex.com/token/what-is-usdt0/)
Ethereum's Price Struggles Amid Project Slowdown and High Fees
Ethereum's performance remains subdued due to several key factors: - High gas fees deterring new projects and builders - $1,800 identified as crucial support level to monitor - ETH ETFs showing mixed results: * Some inflows to newer products like BlackRock * Significant outflows from established funds like Grayscale The ETH/BTC ratio has reached its lowest point in over 1,200 days, with aggressive selling by major market makers like Jump Trading contributing to a 40% price decline. [Read full analysis on Cointelegraph](https://cointelegraph.com/news/ether-1-8k-correction-global-tariff-fears-eth-etf-outflows)