# BTC's 3 Big Challenges

*Author: Bankless*
*Published: Jan 3, 2024*
*Source: https://www.bankless.com/bitcoins-big-questions*

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[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2023/12/image--28-.png)](https://www.bankless.com/sponsor/kraken-1682978636?ref=where-bitcoin-goes-next&email=true)

  

     BTC's 3 Big Challenges
  
  

  
  Published on Jan 3, 2024

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  View in Browser

](https://bankless.com/read/briefs)
 

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.  .  .

 
  
    
      
      NEED TO KNOW
    
    
  
  
    
   ETF Denial Fears
  
  

  

 

![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/01/Group-14--2-.png)- 😲** ETF panic.** Analysts at Matrixport, a crypto financial services firm, released a report suggesting Bitcoin ETFs may not be approved this month. The report's [unintentional *wide* release](https://twitter.com/JihanWu/status/1742577001633026365) caused a temporary wave of sell-offs. 
- 📈** Arbitrum on the rise. **Arbitrum, the leading L2, has crossed the $2.5B TVL mark, with the ARB token [notching a new all-time high above $2](https://x.com/CoinDesk/status/1742490956274790899?s=20). 
- 🪙** Goldman Sachs eyes ETFs. **Today, news broke that investment banking giant Goldman Sachs is [in discussions with Blackrock and Grayscale](https://twitter.com/WatcherGuru/status/1742605608744849824) in a bid to become an "authorized participant" in their seemingly imminent Bitcoin ETF offerings.  

.  .  .

 
  
    
      
      TODAY IN MARKETS
    
    
  
  
    
    New Year's Dump
  
  

  

 
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/01/image---2024-01-03T114742.456-1.png)](https://www.bankless.com/new-year-new-drop)📊** Down we go!** Crypto markets tumbled this morning, with the total crypto market cap (TOTAL) wicking down as much as 12%, its largest single-day decline since the collapse of FTX in November 2022. *What's causing the crypto weakness?*

Prices as of 5pm ET
24hr
7d

 

       ![](https://banklesspublic.b-cdn.net/cmc.png)
    

  **Crypto**
   
          $1.64T
       

  
    
    ↘ 4.6%
    
  

   
    
    ↘ 3.0%
    
  

       ![](https://banklesspublic.b-cdn.net/btc.png)
    

  **BTC**
   
          $42,916
       

  
    
    ↘ 4.9%
    
  

   
    
    ↘ 1.1%
    
  

       ![](https://banklesspublic.b-cdn.net/eth.png)
    

  **ETH**
   
          $2,223
       

  
    
    ↘ 6.1%
    
  

   
    
    ↘ 5.9%
    
  

  

[Unlock Today's Full Market Analysis](https://www.bankless.com/new-year-new-drop)

.  .  .

 
  
    

    ANALYSIS

  
  
    
   Where Bitcoin Goes Next
  
  
  
  
  
   
     
     Bankless Author: 
     
      [
       
       Jack Inabinet
     
    ](https://twitter.com/JackInabinet)
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/01/image---2024-01-03T103046.851-2.png)](https://www.bankless.com/where-bitcoin-goes-next)The bull case for Bitcoin certainly hasn't been shy in presenting itself lately. Yet there *are* some important caveats to remember before you unquestioningly ape BTC to enjoy the monstrous gains that may be in store for 2024...

**Read the full *free* article on our website 👇**

[Get the Full Details](https://www.bankless.com/where-bitcoin-goes-next)
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