The total flow for US Spot BTC ETFs for the week ending on Jan 3 2025 is $256M, with inflows on 2 out of 4 trading days, most of which took place on January 3rd. However, this week also saw BlackRock's iShares Bitcoin Trust (IBIT)'s largest outflow since its launch, recoding $332.6M in outflows. Meanwhile, ETH ETFs saw $38M in weekly outflows.
Also according to Whale Alert, 125M USDT were transferred from Tether Treasury to Bitfinex earlier today on Jan 6 2025.
10x Research predicts a strong start to the year, potentially followed by a minor pullback ahead of the CPI data release on January 15. Should the inflation report show favorable results, it could boost optimism and drive a rally leading up to Trump's inauguration on January 20. However, this momentum might fade, with markets expected to ease slightly before the FOMC meeting on January 29.
Over the past year, the Bitcoin percent balance on exchanges has dropped to 14.075%, with the sharpest decline over the last 2 months, over which the bitcoin balance on exchanges dropped by 237,847 BTC over the period from November 5 2024 to January 5 2025.
Some of the decline can be attributed to the inflows into US BTC Spot ETFs.
Overall, a lower percentage on exchanges is typically a sign of investors adopting a longer-term strategy of holding since tokens off exchanges and into direct custody are less accessible for selling.
According to a report released by Bybit and Block Scholes, open interest in BTC and ETH perpetual swaps has not rebounded to the highs seen in early December 2024. However, it remained resilient during the major end-of-year options expiration event, indicating that these markets were not extensively used to hedge the delta of expiring options contracts, which likely contributed to the relatively low volatility observed during this period. Instead, trading volumes saw a significant decline over the winter holiday season, aligning with a drop in realized volatility back to the lowest levels recorded in December 2024.
On December 30 2024, Stablecoin issuer Tether moved over 8,400 Bitcoins to its corporate reserve, brings its total Bitcoin holdings to 83,759 BTC. This marked the company‘s largest BTC transaction since March 2024.
Metaplanet, the Japan-based venture capital firm which follows MicroStrategy’s Bitcoin investment strategy, currently holds 1,762 Bitcoins and wants to increase its stash by 467% in 2025 to hold 10,000 in total.
