Crypto News Today: Latest Crypto Breakthroughs - Market Impact

Market Trends: Bitcoin's Volatility, Token Burns, and New ETFs Emerge

Bitwise Unveils Bitcoin Standard ETF : Spotlight on Bitcoin-Powered Firms

Bitwise is launching an innovative ETF, focusing on companies that embrace Bitcoin as their treasury reserve. The Bitcoin Standard Corporations ETF targets firms holding at least 1,000 BTC, with a market cap of $100 million and daily liquidity of $1 million. What sets this fund apart? It weights companies based on their Bitcoin reserves, not just market cap. This unique approach gives Bitcoin-heavy firms—especially mid-sized ones—a bigger slice of the pie, highlighting the growing trend of Bitcoin as a corporate strategy.

Magic Eden Token (ME) Price Rally : What’s Driving the Recovery?

After a rough start following its launch, Magic Eden’s native token, ME, is seeing a strong recovery. The price, which plummeted after an initial all-time high of $13.24, has risen 10% today to $3.70, and is up around 20% over the past week. This surge is fueled by increased investor interest, with trading volume spiking 103.98% from the past 24 hours to $1.15B. The recent airdrop boosted demand, and the token is now consolidating before a potential breakout. As ME continues to recover, it’s gaining attention from both investors and traders.

Bitcoin Faces Risk of $60K Drop, Analysts Warn

Bitcoin is facing a potential pullback as it hovers near $95K, with a two-week decline of 3.7%. Analysts are raising concerns over a possible crash that could send its price to $60K by Donald Trump's inauguration on Jan. 19. At the time of writing, $BTC was trading around $96,427.25 with an 0.84% increase from the past 24 hours. Despite bulls defending the $95K support, on-chain data suggested a higher likelihood of a sharp decline. Crypto expert Ali Martinez highlights that over 33,000 BTC, worth $3.23 billion, were recently moved to exchanges, signaling bearish sentiment.

Bitget Burns 40% of BGB Token Supply, Boosting Price by 23%

Bitget has announced a major update to its BGB token with the first-ever token burn, reducing the supply by 40%. The exchange plans to burn 800 million BGB tokens held by the core team, lowering the total supply to 1.2 billion. This burn has already driven a surge around 23% in BGB’s price, pushing it to $8.37, with a market cap of $11.72 billion. Moving forward, Bitget will burn 20% of its quarterly profits, including trading fees, and send the repurchased tokens to a burn address. The exchange will provide on-chain records of the burn, ensuring transparency for future quarterly burns.

Strive’s Bold Move: First-Ever Bitcoin Bond ETF Filed with SEC

Vivek Ramaswamy’s Strive Asset Management is taking a pioneering step by filing with the SEC for the first-ever Bitcoin Bond Exchange-Traded Fund (ETF). The Strive Bitcoin Bond ETF aims to provide unique exposure to Bitcoin-backed securities, focusing on convertible bonds from Bitcoin-centric companies, particularly MicroStrategy. Filed on December 26 using Form N-1A, the ETF will offer an actively managed strategy, allocating at least 80% of its exposure to Bitcoin-related bonds and financial instruments.