The new year is only a few days in, and a lot is happening in the Crypto market.
Some of the most significant developments for the week include a growth in Crypto ETPs between 2024 and 2025.
MicroStrategy now holds more than $45 billion worth of Bitcoin after buying +1,000 more $BTC in the last two days of 2024.
CryptoQuant analysts believe that the Crypto market is close to its final bull run days.
Analysts from in and outside CryptoQuant expect a market peak between mid to late 2025.
The new year has kicked off, and the Bitcoin market is now abuzz with activity, especially with the rise of institutional investment.
There have also been other major factors like corporate acquisitions and evolving market dynamics along the line.
Here is a closer look at some of the biggest Bitcoin updates shaping Bitcoin this week.
According to a recent CoinShares report, global exchange-traded products (also known as ETPs) started the year with a promising $585 million inflows during the first three days of trading.
This is despite the late 2024 Bitcoin sell-off, which resulted in $75 million worth of net outflows for the final week of last year.
CoinShares reports that 2024 was especially promising for general Crypto ETFs, which saw $44.2 billion in inflows within the year.
Flows by asset
This was a 320% surge from the previous record of $10.5 billion in 2021.
One of the most significant contributing factors to this impressive performance was the launch of the spot Bitcoin ETF market in the U.S.
These alone contributed to 29% of Bitcoin’s total $130 billion assets under management (AUM) for the year.
On the other hand, Ethereum-based ETPs gained momentum later in 2024, contributing $4.8 billion to the yearly inflows.
The U.S. Ethereum ETF market also contributed 26% to Ethereum’s total AUM of $18.6 billion.
XRP products also saw considerable gains, with $438 million worth of inflows, with multi-asset ETPs attracting $257 million.
CoinShares reported that the US was the largest buyer of these ETPs after contributing $44.5 billion in inflows for 2024.
Flows by Country
On the other hand, Canada emerged as the biggest seller with $707 million in outflows.
Canada was also followed closely by Sweden and Germany, whose selling directly overshadowed buying from countries like Switzerland and Brazil.
Another major factor to know about Bitcoin comes from MicroStrategy, the largest corporate Bitcoin holder.
The company began 2025 with a fresh 1,070 BTC purchase valued at approximately $101 million.
According to the company's SEC filing from 6 January, the company made this purchase in the last two days of 2024 at an average price of $94,004 per Bitcoin.
According to Saylor Tracker, MicroStrategy's latest Bitcoin buy has brought its holdings to around 447,470 BTC, which is now worth around $45.97 billion.
Notably, these holdings represent 2.1% of Bitcoin’s maximum supply.
MicroStrategy’s holdings
The company's Bitcoin purchases from December (around 45,370 BTC) were interestingly slower compared to purchases it made in early 2024.
So far, Industry insiders like BitMEX co-founder Arthur Hayes continue to sound alarms about incoming market volatility as the U.S. presidential inauguration approaches.
Finally, MicroStrategy has also announced plans to raise $2 billion through a perpetual preferred stock offering to finance further Bitcoin purchases.
According to a recent analysis by a CryptoQuant analyst, the crypto market is almost at the end of its bull cycle.
The analytics company noted that while further price increases are entirely possible, investors should understand the importance of caution.
Bitcoin’s realized cap
One of the points raised by CryptoQuant is the ratio of Bitcoin held for less than one month.
The company noted that in late 2024, this ratio surged to a high of 36%, which typically comes before market tops.
In the future, the company expects the ratio to increase further before the start of the bear cycle.
CryptoQuant’s conservative outlook on Bitcoin differs significantly from that of other analysts.
For example, Steno Research analysts believe that 2025 will be one of the most profitable years for Crypto, with Bitcoin possibly reaching the $180,000 price level.
The company also believes that Ethereum will break above the $6,000 price.
In the same vein, analysts at Van Eck believe that Bitcoin will hit a “medium-term peak” in early 2025 before it joins Ethereum and hit a new record high by the end of the year.
More than mere price speculation, the impending change in SEC leadership could lead to the introduction of new crypto ETFs in 2025.
The U.S. government could also establish a strategic Bitcoin reserve, leading other countries to do the same.
The above speculations have gained significant traction on the internet, especially in prediction markets like Polymarket and Kalshi.
Overall, as the market continues to inch towards global adoption, the early signs for 2025 appear as promising as ever.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information but will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.