Robbie Mitchnick, BlackRock's head of digital assets, said institutional investors focus on Bitcoin's store-of-value characteristics rather than its potential as payment infrastructure. He described the payments use case as speculative, requiring substantial scaling advancements including Lightning Network development. Meanwhile, Mitchnick noted stablecoins have already achieved significant traction in value transfer and payments.

Macro analyst Lyn Alden has dismissed expectations of an imminent major Bitcoin downturn, arguing current market conditions lack the euphoric sentiment that typically precedes severe corrections. She suggests Bitcoin's traditional four-year halving cycle is losing influence as institutional participation and macroeconomic factors increasingly shape price movements. Alden cautioned against assuming guaranteed rallies following declines, stating no one is owed a bull market.

Spot Bitcoin exchange-traded funds recorded nearly $1.2 billion in weekly outflows, marking the third-largest withdrawal episode since launch 22 months ago, data show. The redemptions persisted through Thursday before reversing Friday, when Fidelity's FBTC led inflows with $108 million. November's cumulative outflows reached $3.79 billion by month-end, matching February's record.

NYSE Arca has certified the listing of Grayscale's XRP and Dogecoin exchange-traded funds, with both products set to commence trading on Monday. The ETFs represent conversions of existing private trusts into publicly traded funds. The approval expands institutional access to XRP, the fourth-largest cryptocurrency by market capitalization, and Dogecoin, the largest memecoin globally.

Bitcoin traders grew more optimistic Friday after the probability of a US Federal Reserve rate cut in December surged to 69.40% from 39.10% within 24 hours, according to the CME FedWatch Tool. Bitcoin traded around $85,071, down over 10% in the past week. The shift followed dovish remarks from New York Fed President John Williams suggesting the central bank could reduce rates "in the near term" without compromising inflation control.

Bitcoin could decline further into a $73,000–$84,000 support zone before establishing a cycle bottom, according to André Dragosch, European head of research at Bitwise. The upper boundary of $84,000 matches the average cost basis of BlackRock's IBIT ETF, while the lower threshold of $73,000 represents Strategy's most recent Bitcoin acquisition price. Dragosch characterized these levels as potential fire sale territory that could mark a full market reset.

The UK's Serious Fraud Office arrested two individuals in connection with the alleged $28 million collapse of Basis Markets. The decentralized hedge-fund project raised funds through NFT and token sales in 2021–2022 before ceasing operations without delivering a product. No formal charges have been filed, and the investigation remains ongoing.

Index provider MSCI is reviewing whether companies holding more than 50% of assets in cryptocurrencies should remain in its flagship equity benchmarks, according to a consultation running through December 31. JPMorgan analysts estimate that MicroStrategy could face up to $2.8 billion in passive fund outflows if excluded from MSCI USA and Nasdaq 100 indexes. MSCI will announce its decision on January 15, 2025, with any changes implemented in February.

Al Warda Investments, part of the Abu Dhabi Investment Council, expanded its stake in BlackRock's iShares Bitcoin Trust by 230% during the third quarter. The firm now holds approximately 8 million shares valued at $517.6 million, according to SEC filings. The move represents a strategic shift for the investment arm, which traditionally focuses on private market investments.