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DeCrypt Weekly Update |
Sat, Dec 21, 2024 | 07:49 PM IST |
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| The Overton Window on crypto has shifted |
Hello Reader, |
The global perspective on Bitcoin and crypto has undergone a significant change. This shift, often described through the lens of the Overton Window, marks the movement of crypto from the fringes of financial systems to a central position in economic discourse.
The Overton Window, named after American political scientist Joseph P. Overton, describes the range of policies politically acceptable to the mainstream population.
Initially, Bitcoin was viewed skeptically, often associated with illicit activities and volatility. However, as the technology matured, it gained legitimacy as an alternative asset class, a hedge against inflation, and a potential cornerstone of the future financial system. Read More
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CRYPTO TOP GAINERS
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As on Dec 21, 2024 07:46 PM |
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WEEKLY TOP NEWS
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 Crypto Week at a Glance: The Crypto Market Cools off Before the New Year Rally |
| The launch of Bitcoin ETFs has been a game-changer for the crypto market. A K33 Research report shows U.S.-listed Bitcoin ETFs, including leveraged products, have surpassed Gold ETFs in assets under management (AUM). Since their January debut, Bitcoin ETFs have reached $129.25 billion in AUM, overtaking Gold ETFs at $128.88 billion, which have been in the market for over two decades. |
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 The Overton Window on crypto has Shifted |
| Bitcoin's impressive performance has outshined all other asset classes, surging 115% this year to reach a market capitalization of $1.8 trillion. This positions it above silver and at roughly a tenth of gold's market value. Smaller nations like El Salvador and Bhutan, which strategically invested in Bitcoin, are now reaping significant profits from the recent crypto rally. |
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 El Salvador says it will keep buying bitcoin despite IMF warning |
| El Salvador will continue buying bitcoin, despite a recent IMF loan agreement suggesting a reduction in bitcoin exposure. The government reaffirmed bitcoin's legal tender status and its commitment to increasing its reserves. The IMF deal stipulates tax payments be made in U.S. dollars and private sector bitcoin acceptance be voluntary. El Salvador's bitcoin holdings are currently worth $594 million. |
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 Losses from crypto hacks jump to $2.2 bln in 2024, report says |
| Cryptocurrency hacks surged in 2024. Stolen funds reached $2.2 billion, a 21% increase. Over 300 incidents occurred. North Korean-linked hacks hit a record $1.3 billion. Japan's DMM Bitcoin and India's WazirX suffered major losses. Bitcoin's price surge and institutional adoption contributed to the rise in crypto crimes. |
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 Bitcoin briefly falls below $100,000 level after Powell's remarks on Fed's stance and rate cuts |
| Bitcoin tumbled nearly 3% to around $100,750 after the Federal Reserve signaled slower rate cuts in 2025. Chair Jerome Powell's hawkish tone and comments against a Bitcoin reserve further dampened sentiment. The reduced easing projection sparked investor concern, triggering over $850 million in derivative liquidations. Other major cryptocurrencies also declined following the Fed's announcement. |
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For More Insights Visit ETMarkets Crypto Corner  |
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| Thanks for reading. See you next Saturday with more interesting stories and updates. Follow us on Twitter and Facebook. |
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