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The latest price moves in bitcoin [BTC] and crypto markets in context for Jan. 2, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Orbit Chain, a platform that interacts and transacts with various blockchains, has lost $81 million after hackers exploited the platform’s cross-chain bridge.
Some investors have bought the “No side shares” of the prediction contract to hedge against potential delays in the SEC’s approval of spot ETFs.
U.S.-listed companies rode bitcoin’s bullish momentum to show significant gains in pre-market trading, including COIN, MSTR, MARA and RIOT.
Meme coin SEIYAN – apparently a cult term for holders of the SEI token – has gained 400% in the past week, serving as a proxy for the growth of the broader Sei ecosystem.
Futures tracking the lesser-known token saw $68 million evaporate in leveraged bets in a 24-hour period.
Data tracked by Matrixport show global average perpetual funding rates rose to a record 66% annualized early Monday.
Speculation has been ramping up that regulatory approval for a U.S.-based spot bitcoin ETF is coming this week.
(CoinDesk, modified)
Gary Gensler’s SEC has some bitcoin ETF reading to do. (Jesse Hamilton/CoinDesk)