Bitcoin Blasts Past $42,000 While Bigtime, Ordi, Celestia Tokens Face Liquidation Bloodbath

The crypto market staged a remarkable comeback over the weekend, shaking off the shackles of recent bearish sentiment and embarking on a euphoric rally that sent shockwaves through the financial world. Bitcoin (CRYPTO: BTC), the bellwether of the crypto space, surged past the psychologically crucial $42,000 mark, reclaiming its position as the most valuable digital asset.

Timeline of Big-time, Bitcoin, Ordi, Celestia

Reports that Qatar's sovereign wealth fund could imminently invest up to $500 billion in the volatile yet promising Bitcoin market, though currently unverified, have sparked optimistic speculation and double-digit price rises over recent days.

Rumours are swirling in the cryptosphere that Qatar's sovereign wealth fund is gearing up to invest half a trillion dollars in bitcoin (BTC). The investment move is likely motivated by the potential for massive profits and the growing acceptance of Bitcoin as a mainstream asset class.

BlackRock, the global investment giant, has revealed to the U.S. Securities and Exchange Commission (SEC) its recent engagement with Bitcoin through an Exchange-Traded Fund (ETF). Known for its influential role in the investment world, BlackRock has gradually intensified its involvement in the cryptocurrency sector.

Introduction to Hashdex's 2024 Crypto Investment Outlook Hashdex AG, a global leader in crypto-focused asset management, has released its “2024 Crypto Investment Outlook” report. According to Hashdex, the report delves into the anticipated trends and themes that are expected to influence crypto investing in the coming year and beyond.

Bitcoin has surged past $42,000, but the real buzz revolves around the critical $45,000 mark. This value is more than just a technical indicator; it's a significant milestone for investors who got into Bitcoin two to three years ago. Their investments, representing a sizable chunk of the Bitcoin supply, are nearing the break-even point.

Tether's total BTC holdings are 57,576 BTC, worth $2.4 billion. The average purchase price of Tether's BTC holdings is $22,480. Tether has acquired 4,083 BTC since May 2023, using 15% of its net profits. Tether, the issuer of the world's largest stablecoin, USDT, has benefited significantly from the recent rise in Bitcoin (BTC) prices.

MicroStrategy, a major Bitcoin player, didn't just hit the jackpot with their crypto investments – they practically struck gold. Their $593 million Bitcoin purchase last month not only boosted their stocks by 8.2% but also sent ripples through the market, propelling Bitcoin's value to a jaw-dropping $42,000.

The crypto prices today continue the bullish trend observed in the market throughout December, as investors are putting their bets on the riskier assets. The recent positive momentum in the broader crypto market has helped the major cryptos like Bitcoin, and Ethereum, among others, to reach their record highs in more than a year.

This week started on a pretty good note with the Bitcoin price rallying past $42,000 on Monday, December 4. However, Bitcoin has entered a partial consolidation and is currently trading at $41,762 with a market cap of $817 billion.

Tether's holdings of BTC have announced a new investment strategy that will see it allocate up to 15% of its net realized operating profits towards purchasing Bitcoin (BTC). Coincu News