"The only courage that matters is the kind that gets you from one moment to the next."
–Mignon McLaughlin
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Happy Saturday Folks! Last week Bitcoin was up over $4K and this week it has taken a rest. As I type Bitcoin is trading at $34,798.25 and for the week (M-F) Bitcoin was down $487.90; week over week it's up $503.89. The best performing asset in the past 7 days was $SOL - up 29.82% in position #7 on Coinmarketcap.com. Last week the Fear and Greed Index was at 65 and today it's 68; Greed continues!
Keep reading, watching, and listening with me each and every week!
MY HOT TAKE
It appears that Halloween did scare Bitcoin and it jump above $35K and now it has calmed down back under $35K once again; that appears to be the difficult level to crack in this bull market. The ETF news has been digested and now it appears Bitcoin might just trade sideways between $34K and $35K for this weekend and then possibly next week, I can see it pushing a bit higher still. The sentiment is still leaning toward $42K being the level that it could reach before getting a significant pull back. Money is being poured into Crypto products and it's a matter of when not IF $BTC will crack $100K. As the price continues to rise more people are once again paying attention and if it gets above $40K FOMO will set it.
This big news for this week was of course SBF being found guilty which the news cycle was zoomed in on from articles to YouTube videos, everyone was following that trial the way they did OJ Simpson. Now that it's over, what's the next big news topic that will capture everyone's attention?
Bitcoin dominance on Coinmarketcap.com is 52.3% and ETH is 17.1%. $Sol is dominating every other top 10 crypto asset rising 29.82% in the past 7 days; $XRP is in second place rising 12.36% and $ADA bring up the rear with 11.18%.
There is a good chance I might switch up the YouTube content since most of the main channels continue to focus on click bait type material or super sensationalistic type content. If you have a channel you enjoy and they put out great content let me know. Altcoin Daily is good but some of their guest I am not too keen on and I think they are taking a bit of a break for the holidays, Coin Bureau has been somewhat meh, Bitcoin University is just a bit too pessimistic and gloomy on his content. This week, The Wolf of All Street (TWOAS) seemed to have the better podcast shows.
Well that is a wrap for me folks, until next weekend Be Smart. Be Safe. Stack Sats. HODL!
THE WEEDS
Monday the price of Bitcoin closed at $34,234.50 and the most covered news of the day was about the CME being on the cusp of replacing Binance as top Bitcoin futures exchange.(5)
Podcast of the Day: Super Bullish - Raoul Pal Deciphers Bitcoin's Surge & Crypto's Economic Takeover! | TWOAS
Tuesday the price of Bitcoin closed at $34,443.00 and the most covered news of the day was about how last week’s $326 million of inflows into digital asset investment products was the largest since July 2022, with 90% going toward bitcoin vehicles.(7)
Podcast of the Day: Bitcoin Maxis VS Everyone Else | Crypto Town Hall | TWOAS
By Wednesday (Humpday) the price of Bitcoin closed at $35,611.70 and the most covered news of the day was Bernstein Research is positive that the United States Securities and Exchange Commission (SEC) would cave in in early January by approving a Spot Bitcoin ETF and Bitcoin's price could surge to $150,000 by 2025.(4)
Podcast of the Day: Bitcoin and Macro Mastermind Q4 2023 w/ Joe Carlasare, Jeff Ross, and Steven McClurg | Bitcoin Fundamentals
Right over the hump on Thursday the price of Bitcoin closed at $34,693.20 and the most covered news of the day was St.Galler Kantonalbank works with SEBA Bank to offer Swiss customers Bitcoin and Ethereum.(6)
Podcast of the Day: How Bitcoin Fights Tyranny with Erik Cason | WBD
As the week came to a close on Friday the price of Bitcoin closed at $34,722.40 and the most covered news of the day was SBF guilty on all counts as jury rules he defrauded investors; $8B Fraud. FTX claims value surging upward as ex-CEO of cryptocurrency exchange will face massive jail time.(8)
Podcast of the Day: SBF Trial, Day 18: Sam Bankman-Fried Found Guilty on All 7 Counts in Swift Verdict | Unchained
WEEKEND NEWS
Bitcoin's recovery is underway with a 28.5% surge in October, leading to speculation about a new bull market and HODL Waves indicator shows nearly 90% of Bitcoin supply has remained static for the past 3 months, suggesting a shift to long-term holding. As the holiday season approaches, the cryptocurrency community is abuzz with excitement about the annual phenomenon known as the “Santa rally.” Chris Burniske believes Bitcoin could rip to new highs before final wipeout.(2) However, 20,775 BTC moved to Binance and Coinbase after the fear and greed metric shifts to greed.
Michael Saylor says that if institutional investors take on a larger role in Bitcoin, the crypto space will mature and weed out unscrupulous characters and more speculative digital asset projects. According to Jurrien Timmer, Bitcoin’s risk-reward is “in a different universe.”
According to on-chain data provider Lookonchain, a cryptocurrency address with a substantial crypto balance regarded as a whale initiated a withdrawal of 8,698 ETH from Binance, one of the world's largest and most well-known cryptocurrency exchanges. Solana’s near 300% price rally recently led by institutional buying on Coinbase.
US Supreme Court agrees to take up Coinbase case involving arbitration jurisdiction. After Grayscale court win, public progress on GBTC conversion hits lull.
