Animate[Graphics[{EdgeForm[Black],Red,Disk[{0,0},.05],Black,Arrowheads[Table[{0.02,p+t,Graphics[{EdgeForm[Black],Hue[2 t],Disk[]}]},{p,{0,0.5}}]],GeometricTransformation[Arrow[BSplineCurve[{{-1,0},{0,-(1/4)},{1,0},{0,1/4}},SplineDegree->3,SplineClosed->True]],Table[RotationMatrix[(θ+90 t) °],{θ,0,135,45}]]},PlotRange->2/3,ImageSize->Medium],{t,0,0.5}]