Bitcoin Slips to $96K Amid $1.52B ETF Outflows and MicroStrategy’s $42B Plan

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Arslan Butt

Crypto Writer

Arslan Butt

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Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

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Last updated: 

December 27, 2024

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Bitcoin (BTC) traded at $96,346 on Friday, marking a 2.05% decline in the last 24 hours, as institutional and retail investors navigate mixed signals. Global cryptocurrency market capitalization stood at $3.42 trillion, reflecting a 0.26% dip.

Recent volatility is attributed to ETF outflows totaling $1.52 billion over the past four days, signaling institutional caution, while bullish news such as Russia’s plan to adopt BTC in foreign trade supports positive sentiment.

Despite these dynamics, BTC has faced resistance at $98,300, with support levels forming at $94,735 and $92,105. Analysts point to Bitcoin’s correlation with the S&P 500, growing Ether ETF inflows worth $2.5 billion, and MicroStrategy’s aggressive buying strategy as key indicators for Bitcoin’s medium-term outlook.

MicroStrategy’s $42 Billion Expansion Sparks Bullish Hopes

MicroStrategy is poised to reshape Bitcoin’s demand landscape with its bold $42 billion expansion strategy. The company seeks shareholder approval to raise $21 billion each through equity and debt to fund large-scale BTC purchases. Its “21/21 Plan” aims to enhance its BTC holdings significantly, with a December purchase of 42,000 BTC worth $4 billion already completed.

This aggressive approach has propelled MicroStrategy into the Nasdaq 100 and bolstered institutional confidence in BTC. While MicroStrategy’s current yield on BTC holdings is 17.8%, the company plans to moderate this to 6-10% by 2027, reflecting a balanced growth strategy.

Analysts anticipate that the company’s continued buying spree will exert upward pressure on BTC prices, supporting a potential rally.

Israel Enters Bitcoin Mutual Funds Market

Israel’s imminent launch of six BTC mutual funds by December 31 represents a major milestone in crypto adoption. Approved by the Israel Securities Authority (ISA), these funds cater to growing local demand for crypto investments.

Managed by firms like Migdal Capital Markets and Phoenix Investment, the funds offer management fees between 0.25% and 1.5% and allow transactions in the local shekel currency. This initiative coincides with Israel’s push for digital finance innovation, including its central bank digital currency (CBDC) project.

Globally, BTC-focused investment products have gained traction, with U.S. Bitcoin ETFs attracting $6.7 billion in inflows in December alone. Analysts believe Israel’s BTC mutual funds will boost local investor participation and institutional confidence, potentially fueling Bitcoin’s global adoption.

Bitcoin Price Outlook; Downward Trendline Limit Upside Movement

Bitcoin trades at $96,346, facing downward pressure. A key resistance lies at $98,300, with immediate support at $94,735 and potential downside to $92,105 if bearish momentum persists.

The 50-day EMA at $97,590 reinforces near-term bearish sentiment, while RSI at 42.78 suggests weak momentum. Traders should monitor these levels closely.

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Flockerz Presale Surpasses $7.9M: Last Hours to Join

With just over 26 days remaining, Flockerz ($FLOCK) has successfully surpassed its original presale target, raising $7.94 million. The token’s price has slightly increased to $0.00653, maintaining its appeal with innovative staking rewards and a community-centric Vote-to-Earn (V2E) model.

This framework empowers holders to partake in project decisions while earning rewards, encouraging sustained engagement.

Impressive Staking and Security Features

Flockerz offers staking with a remarkable 436% APY, adjusted per ETH block, extendable over two years. To ensure security, the project has undergone rigorous audits by Coinsult and SolidProof, underscoring its reliability and potential.

Flockerz’s Projected Impact in 2025

Esteemed analysts and influencers like ClayBro have spotlighted Flockerz as a promising player in the meme coin sector, likening it to successes such as $CHILLGUY, famed for impressive returns. Such attention has heightened retail interest and driven considerable presale success.

Key Highlights:

• Presale Achieved: $7.94M, surpassing expectations.
• Current Token Price: 1 $FLOCK = $0.00653.
• Staking Rewards: Up to 436% APY.
• V2E Model: Earn while participating in decisions.