Realized losses spiked as Bitcoin saw turbulent start to the year

Three days into the new year and Bitcoin has already been through a rather turbulent period. Bitcoin saw its largest one-day price drop since the beginning of December, marking a 4.7% decrease.

Timeline of Bitcoin

Grayscale Investments has filed its Form 8-A with the Securities and Exchange Commission (SEC), signaling substantial progress in their pursuit of launching a spot Bitcoin exchange-traded fund (ETF).

As anticipation builds around the potential approval or rejection of spot Bitcoin (BTC) exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC) on January 5, the Bitcoin price has witnessed a notable 2.7% recovery in the past 24 hours. This development comes amidst growing speculation about the patterns that could drive the Bitcoin price to reclaim the highs lost during the bear market in 2022.

Crypto News: From regulatory changes to market shifts, here are the top 10 stories that shaped the cryptocurrency market on January 4 for a quick overview. Final Stage in Bitcoin ETF Decision ARK21Shares joined applicants like VanEck, Fidelity, and Grayscale to file the ‘registration of securities' 8-A form with the SEC on Thursday.

Bankruptcies, lawsuits, wins for the SEC, losses for crypto operators, bad actors and the spot Bitcoin ETF approval: the crypto space in 2023 was an eventful and remarkable year. In its latest report, Messari highlighted crypto and its relevance in 2024.

The U.S. Securities and Exchange Commission (SEC) has met with officials from major exchanges to discuss spot bitcoin exchange-traded funds (ETFs). Sources close to the proceedings say the securities regulator could begin notifying issuers of spot bitcoin ETF approval on Friday and trading could begin as early as next week.

TechCrunch senior crypto reporter Jacquelyn Melinek claimed on Jan. 4 that regulators will approve more than one spot Bitcoin ETF at once. Melinek posted to Twitter/X: “[I have] heard from sources extremely close to the matter that the bitcoin spot ETF is going to be approved by the SEC for multiple firms' applications.

The mysterious ascent of a Bitcoin wallet, believed to be linked to Tether, has caught the attention of the crypto community as it now stands as the tenth-largest holder of Bitcoin. This notable rise occurred following the accumulation of 8,888 bitcoins from Bitfinex as the year came to a close.

Marathon Digital achieved a record-breaking production of 1,853 Bitcoin (BTC) in December 2023, marking the highest monthly total ever recorded by a public BTC mining company. The growth represents a significant 290% year-over-year increase and a 56% rise from the previous month.

Following numerous proclamations of bitcoin's demise in 2021 and 2022, totaling 47 and 27 on the Bitcoin Obituaries list respectively, a mere eight declarations were noted in 2023.

Tuttle Capital Management, a notable ETF issuer, has taken an assertive step into the evolving landscape of digital assets by filing for six leveraged and inverse Bitcoin exchange-traded funds (ETFs) with the U.S. Securities and Exchange Commission (SEC).