FameEX Morning Crypto News Recap | December 4, 2024

Bitcoin Long-Term Holders' Holdings Reach New 2022 Low at 12.45 Million

IntoTheBlock data shows that long-term Bitcoin holders now hold 12.45 million BTC, marking the lowest level since July 2022. The decrease in holdings during this cycle is 9.8%, notably smaller than the 15% reduction in 2021 and 26% in the 2017 bull market.

US Spot Bitcoin ETF Now Holds Only 13,000 Fewer Bitcoins Than Satoshi Nakamoto’s Wallet

The US spot Bitcoin ETF currently holds 1,083,000 Bitcoins, only 13,000 Bitcoins away from surpassing Satoshi Nakamoto’s estimated holdings of 1,096,000. This reflects the increasing influence of institutional investments in Bitcoin, as the ETF closes in on the legendary creator’s wallet balance.

Altcoin Seasonal Index Reaches 83, Marking Annual High

The Altcoin Seasonal Index hit an annual high of 83 on December 3, according to CoinMarketCap data. The index gauges altcoin dominance in the market. In the past 90 days, 83 of the top 100 cryptocurrencies by market cap outperformed Bitcoin, signaling an altcoin-driven market season.

South Korea to Allow Universities and Local Governments to Cash Out Crypto Donations

Starting next year, South Korea will allow universities and local governments to accept cryptocurrency donations. Additionally, the government plans to gradually permit companies to open virtual asset won accounts, further integrating cryptocurrency into the economy.

France Suggests Taxing Bitcoin as Non-Productive Asset

French Senator Sylvie Vermeillet has proposed classifying Bitcoin and digital assets as non-productive property in the 2025 budget, with a focus on taxing unrealized gains. Finance Minister Laurent Saint-Martin supports this, arguing that Bitcoin should be taxed similarly to real economy assets like real estate and luxury goods.

Kalshi Predicts 93% Chance Trump Will Nominate Paul Atkins as SEC Chairman

Kalshi estimates a 93% likelihood that Trump will nominate Paul Atkins as SEC Chairman, though the probability later dropped below 90%. Sources indicate Trump has reached out to Atkins, awaiting his decision, positioning him as the leading candidate.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.​