Bitcoin Whales Accumulate 34K BTC

CRYPTO
Bitcoin Whales Accumulate 34K BTC

Large Bitcoin holders are back in action, accumulating over 34,000 BTC worth approximately $3.2 billion since late December, according to Blocktrends analyst Cauê Oliveira. After Bitcoin hit a record high of over $108,000 on Dec. 17, institutional investors sold 79,000 BTC, causing a 15% price correction. However, wallets holding between 1,000 and 10,000 BTC began buying as Bitcoin’s price fell below $95,000.

Oliveira noted these large players executed trades as smaller orders, leveraging the dip to accumulate. By Jan. 8, Bitcoin’s seven-day balance flipped positive, signaling recovery from the late-December sell-off.

Bitcoin traded around $94,900 at the time of writing, as US economic data reduced hopes for further Federal Reserve rate cuts. Analysts now predict a strong 2025 rally, driven by pro-crypto policies under President-elect Donald Trump and increasing adoption by nation-states and institutions. Price predictions range from $150,000 to over $400,000.

FINANCE
Exxon Warns of $700M Profit Hit

Exxon Mobil Corp. warned its fourth-quarter earnings will decline due to lower crude prices and narrower refining margins, leading to a $700 million hit to its production division and a $500 million reduction in refining profits compared to Q3. While natural gas prices added $200 million, chemical margins shrank.

Exxon’s shares fell 1.9% to $106.70 in New York, making it one of the worst performers in the S&P 500 Energy Index. Analysts predict Exxon’s earnings per share will fall 17% below expectations, with refining facing “significant headwinds” due to the company’s large footprint in the sector.

The guidance excludes production changes but reflects broader industry challenges, including ample crude supplies and economic uncertainty in China. Exxon also expects a $400 million gain from asset sales offset by equivalent charges. The update highlights a tough quarter for Big Oil, echoing Shell Plc’s earlier profit warning.

TECH
Biden Tightens Nvidia AI Chip Exports

In a significant final push, President Joe Biden’s administration is set to announce new restrictions on exporting artificial intelligence (AI) chips, primarily targeting Nvidia and other U.S. chipmakers. These measures aim to curb the spread of advanced AI technology to nations like China and Russia while fostering development within U.S.-aligned countries.

The proposed rules, expected Friday, create three tiers of export controls. The first tier includes the U.S. and 18 allies, such as Japan, Germany, and South Korea, which will maintain near-unrestricted access to AI chips. The second tier imposes limits on computing power per country but allows exceptions for companies meeting strict U.S. security and human rights standards. The third tier, encompassing nations like China and others under arms embargoes, faces near-total restrictions on advanced chip imports.

Nvidia, the leading AI chipmaker, opposes the move, warning it could harm economic growth and U.S. leadership in AI technology. The Semiconductor Industry Association echoed this sentiment, urging a more deliberative process during the transition period between administrations.

Beyond semiconductors, the new rules also regulate AI model weights, restricting closed model hosting in Tier 3 nations and tightening security for Tier 2 countries. These sweeping changes mark a pivotal moment for U.S. tech policy, shaping global AI development while consolidating American influence.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.