Bitcoin price action, investor sentiment point to bullish December

Ether (ETH) has recently outperformed Bitcoin in terms of spot ETF flows and short-term returns, with technical charts indicating a potential 20% price increase. This trend suggests a shift in market dynamics favoring ETH over BTC as traders adjust their positions accordingly.

Bitcoin's price is expected to remain below $95,000 as low liquidity in December may limit its recovery rally, according to analyst Paul Howard. This situation could lead to rangebound trading for Bitcoin, which may inadvertently benefit smaller altcoins in the market.

Bitcoin's correlation with the Nasdaq 100 has shown a negative trend, suggesting that a market bottom may be forming for the fourth time in five years. This historical pattern indicates that Bitcoin often finds its lowest points when its relationship with the Nasdaq weakens.

Larry Fink, CEO of BlackRock, stated that sovereign wealth funds have been purchasing Bitcoin during its recent price decline, indicating a long-term investment strategy rather than short-term trading. This aligns with BlackRock's position as a significant player in the cryptocurrency market, particularly with its IBIT Bitcoin ETF, which has gained substantial traction since its launch.

Recent outflows from U.S.-listed spot Bitcoin ETFs, totaling approximately $4 billion, were primarily attributed to specific arbitrage trade closures rather than widespread institutional panic. This indicates a more calculated market response rather than a reaction to broader market fears.

Blockdaemon and VerifiedX have partnered to create a user-friendly, self-custodial decentralized finance (DeFi) experience, akin to popular payment apps like Venmo and Cash App, enabling users to earn yield on bitcoin (BTC) and stablecoins while borrowing against their holdings.

Bitcoin's price has retreated towards $90,000 after failing to maintain support at the key resistance level of $93.5K, amid strong U.S. jobs data that overshadowed optimism regarding potential Federal Reserve rate cuts. This decline reflects ongoing bearish sentiment in the cryptocurrency market.

Exclusive data from EigenPhi indicates that sandwich attacks on Ethereum, a form of miner extractable value (MEV) attack, have decreased in frequency. Despite this decline, these attacks continue to affect hundreds of traders each month, resulting in significant financial losses.