Santa Claus Mode: Bitcoin Rockets Past $106K!

Bitcoin's rally is proof of investors' FOMO, which is driving increased capital allocation into BTC.

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Here's what we've got for you today:

  • Bitcoin Goes ‘Santa Claus Mode’ as Hopes Raise for US Reserve Status

  • Michael Saylor Teases Record-Breaking Bitcoin Buy for MicroStrategy

  • OpenSea Cayman Islands Registration Sparks Token Airdrop Speculation

  • Coinbase Faces $1B Lawsuit from BiT Global Over Wrapped Bitcoin (WBTC) Delisting

Bitcoin’s price rose by nearly 5% in a day to set a new all-time high above $106,000 on Dec. 15, thanks to growing speculation of it becoming a United States reserve asset.

  • CK Zheng of ZK Square believes Bitcoin's recent rally is proof of investors' fear of missing out, which is driving increased capital allocation into the asset.

  • Zheng predicts that Bitcoin could reach $125,000 by early 2025 but also warned traders that a 30% correction to $87,500 may follow.

  • Strike CEO Jack Mallers believes President-Elect Donald Trump could issue an executive order designating Bitcoin as a reserve asset on his very first day in office, which is also fueling market speculation.

Over the weekend, Saylor dropped a cryptic hint suggesting that the firm may have made another large Bitcoin purchase. 

  • In a Dec. 15 post, Michael Saylor hinted at a potential new Bitcoin acquisition by MicroStrategy by pointing out a "missing green dot" on the SaylorTracker portfolio tracker.

  • If confirmed, this would be MicroStrategy’s first Bitcoin purchase at a six-figure price.

  • With 423,650 BTC, which is currently valued at over $43.6 billion, a new purchase could bring MicroStrategy's Bitcoin holdings closer to a $50 billion valuation.

The NFT community is abuzz with speculation about a potential OpenSea token airdrop after its recent Cayman Islands registration.

  • On Dec. 14, researcher Waleswoosh shared a screenshot suggesting OpenSea may be planning to launch a cryptocurrency and reward users through an airdrop.

  • OpenSea CEO Devin Finzer previously announced plans for a major platform relaunch in December, though details about these plans are still scarce.

  • Members of the NFT community, including Matter Labs' manager believe OpenSea might reward its early supporters to rebuild trust and loyalty.

BiT Global exchange claims that Coinbase’s move was a deliberate attempt to monopolize the market and promote its own rival product, cbBTC.

  • The lawsuit was filed on Dec. 13, and it accuses Coinbase of anti-competitive practices under the Sherman Act.

  • Coinbase is also accused of making misleading statements suggesting wBTC failed to meet its listing standards, despite providing no specific reasons during the Nov. 19 delisting announcement.

  • BiT Global is represented by Kneupper & Covey, who believes that Coinbase's actions and reasoning for delisting wBTC were deceptive and damaging.

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