Bitcoin: Mil-millonarios y Fondos nuevos. Reddit/GameStop - ramificaciones para BTC y DeFI y más!

Bitcoin: Very active week in the Bitcoin markets which saw heavy volume last week, finishing up 2.63% at $33,137. Price action was quite interesting and we can go through some of the dynamics that played out. On Thursday, none other the Ray Dalio published a letter title "What I think about Bitcoin", going on to say "It seems to me that Bitcoin has succeeded in crossing the line from being a highly speculative idea that could well not be around in short order to probably being around and probably having some value in the future.". For context, Ray Dalio is the co-Chief Investment Officer at Bridgewater, which is the largest hedge fund in the world.

As if that weren't enough, on Friday Elon Musk changed his twitter bio description to just "#Bitcoin" and tweeted "in retrospect, it was inevitable" right after.

This was interpreted as a tacit endorsement, which coincidentally happened just minutes after another market-moving event, the expiration of the Jan 29th options. The "Elon" rally could not be sustained as it elevated the perpetual funding rates for Bitcoin but the cash/spot markets were not able to "catch up" and faded into the weekend.

There can be deep implications of the brewing narrative around equity markets for Bitcoin. We'll discuss this at length in our "Market Trends" section later today. Later on Sunday, the news broke that a new Bitcoin fund traded in the Toronto Stock Exchange had completed its IPO and its $180 Million had become "fully invested" in one day. Another strong sign that investor appetite for Bitcoin remains strong.

We'll also discuss what the options markets are showing for Bitcoin's February expirations along with the futures markets in our Whats Ahead for the Week section below.

What's ahead for the week:

In the midst of the RobinHood/GameStop saga, Elon Musk - one of the most influential businessmen in the world, changed his twitter profile description to #Bitcoin and tweeted to his 44+ million followers that it was "inevitable in retrospect". The fact that centralized market structures are coming under heat at the same time as billionaires around the world give Bitcoin its blessing, can be a very powerful force of change. Musk and Dalio will not be the last billionaires to voice their found support or belief in Bitcoin. From Bridgewater to Blackrock, to Guggenheim and Fidelity, Bitcoin has made its way through the financial establishment. Next stop would be sovereign wealth funds and central banks.

The U.S. equity markets will likely be more driven by the GameStop dynamics than the Fed or earnings. The fact that large funds have booked large losses on their short positions will force them to also close some of their long positions, which will keep pressure on the indexes as we saw in the week prior - even with an encouraging Fed and blowout earnings numbers, the major indices were down. This may continue if "the market" continues to put pressure on anything that has a built up short float. The next target from the Reddit army seems to be the silver ETF SLV.

On the Bitcoin options front we are seeing some decent activity in the $40k level for February 12th and 26th expirations. On the CME front, the futures curve is becoming flat from May to June tapering at the $36k level. Levels to keep an eye on as we head into what will likely be a week of heavy volume.

As always, we'll keep you posted on any relevant news throughout the new year right here and from our Twitter account @hodlwithLedn