The Daily: Bitcoin hits six-month low amid cycle peak fears, Strategy’s ‘big week,’ and more
Bitcoin dropped to a six-month low amid cycle peak fears, while Strategy made a major purchase, and Japan plans crypto reclassification.Summary
Bitcoin fell to a six-month low below $93,000, attributed to tightening liquidity and shifting rate expectations, though some analysts see it as a shallow correction supported by ETF demand, not a cycle peak. Concurrently, Michael Saylor's Strategy executed its largest bitcoin purchase since July, acquiring 8,178 BTC for $836 million, funded by preferred stock sales, despite rumors of selling. In regulatory news, Japan's Financial Services Agency plans to reclassify 105 cryptocurrencies as financial products, potentially slashing crypto income tax rates from 55% to 20%. Other developments include Cboe preparing to launch perpetual-style futures on December 15, Hong Kong advancing its tokenized deposit pilot, and Aave Labs unveiling a high-yield savings app with insurance protection.
(Source：The Block)