BTC Bull Run Might Not Be Over, and XRP Could Rise Soon—January 10, 2025

Also, DAMAC soon to tokenize $1B in real estate, and BTC ETFs bleed.

TL;DR: Crypto Insights in Seconds

• BTC: Token drops to $90K, but analyst think the bull run isn’t over.

• Crypto: 22% of financial advisors allocated crypto to portfolios, doubling from 2023.

• BTC ETFs: See major outflows of $582 million.

• Polymarket: CFTC issued a subpoena to Coinbase seeking Polymarket’s customer data.

• Stablecoins: JPMorgan reports that MiCA complaint stablecoins are growing quickly.

• XRP: CEO meets with Trump, sparking rumors about the token’s role in the new administration.

• DAMAC: To tokenize $1B real estate assets in Mantra blockchain.

Price Update

Bitcoin Bull Run Metrics Signal Room to Grow

Bitcoin’s price dropped below $90K as the broader crypto market continues to experience selloff pressure. Despite this, some traders are still holding out for $120K targets. Analysts argue Bitcoin’s bull run isn’t over. Metrics like realized price, exchange reserves, and long-term holder activity don’t yet indicate a market peak. Observers maintain optimism for further price gains in the months ahead.

Market Trends

Crypto Allocations Double Among Advisors

A survey reveals that 22% of financial advisors allocated crypto to client portfolios in 2024, doubling from 2023. This rise show us increasing institutional interest and growing recognition of crypto as an asset class.

ETFs News

Bitcoin ETFs Experience Second-Highest Outflows

U.S. Bitcoin ETFs saw a net outflow of $582 million, marking the second-highest outflow on record. Analysts attribute this to profit-taking and concerns over Federal Reserve policy, which continue to influence investor behavior.

Regulatory and Legal News

Polymarket Subpoena: CFTC Seeks Coinbase Data

The CFTC has reportedly issued a subpoena to Coinbase seeking Polymarket’s customer data. The agency’s scrutiny on prediction markets platform are due to compliance with U.S. regulatory standards concerns. The exchange has informed its users about this development.

MiCA Promotes Euro Stablecoin Growth

JPMorgan reports that MiCA-compliant euro-denominated stablecoins are rapidly gaining traction in Europe. The regulatory clarity provided by MiCA is encouraging innovation and adoption across the region’s crypto ecosystem.

Business News

XRP Buzz After Garlinghouse and Trump Meeting

XRP has gained interest following Ripple CEO Brad Garlinghouse’s meeting with President Trump. The discussions have sparked speculation about XRP’s role in shaping U.S. crypto policies under Trump’s administration, and some analysts speculate the token’s price could rise soon.

Mantra Blockchain to Tokenize $1B in Real Estate

UAE-based real estate giant DAMAC plans to tokenize $1 billion in real-world assets using Mantra Blockchain. This is just another show of the growing use of blockchain for tokenized real estate investments, particularly in luxury property markets.

The crypto market continues to navigate a complex landscape of regulatory developments, macroeconomic pressures, and institutional interest. While bearish trends dominate short-term sentiment, underlying optimism for innovation and growth remains strong. As the market evolves, being informed and adaptable is crucial for investors and participants. Stay tuned for tomorrow’s newsletter to get the latest insights and updates in the market.