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Guess what day it is Folks? HUMPDAY! Bitcoin is trading up at $35,455.43. Looks like it wants to push higher and higher!
SUMMARY
Yesterday, it appeared most coverage was about XRP and Gemini losing their CTO. Today it's Binance launching a self-custody Web3 wallet for its 150M registered users.(7)
Crypto markets look like they're trending bullish as alt-coins stage comeback.
Bitcoin squeezes to $35.5K as 'mini Altcoin season' lifts Crypto market cap to $1.3 Trillion.(2) Data highlights Bitcoin's potential path to $40K amid global economic turbulence. Bitcoin long-term holder supply is at an all-time high and spot trading volume increases after multiple months of decline. Investment advisor Two Prime sees $2B in demand for Bitcoin-backed loans. Are Bitcoin ATMs back in style? Bitcoin ATMs are taking over malls and gas stations across the U.S. Bitcoin fees soar nearly 1000% since August as Ordinals are back in vogue. Bitcoin is increasingly coiled below $36,000, supported by consistent buying activity during U.S. hours. LINK and MATIC gained 10%, most among large-cap altcoins. Bitcoin's "Santa Claus rally" could start any moment amid accommodating macro picture, Matrixport said.
The co-founders Jan Happel and Yann Allemann of a top crypto data analytics firm say BTC’s market demand is outpacing its supply and that is signaling bullish moves for BTC.(2) BlockStream CSO and chief executive at Pixelmatic Samson Mow has predicted a possible split of Bitcoin into two "types" in the future. He believes it may be caused by BlackRock and other major financial institutions rushing to enter Bitcoin and launch their Bitcoin spot ETFs. The Securities and Exchange Commission (SEC) has one last short window, an eight-day period starting Thursday, if it wants to approve all 12 spot bitcoin (BTC) ETF applications this year, Bloomberg Intelligence analysts wrote in a note on Wednesday. "We still believe 90% chance by Jan 10 for spot #Bitcoin ETF approvals," Seyffart posted on the X social media network. The SEC is in talks with Grayscale to potentially convert GBTC into a spot Bitcoin ETF, a move that could make BTC more accessible to investors.(3)
$XRP's crucial $0.7 price level has become a point of contention, with on-chain metrics sounding a note of caution to the community. Ripple is working with payments fintech Onafriq to expand remittance capabilities in Africa and across its borders with various Gulf nations, the U.K. and Australia. Santiment says that over a 30-day period, Cardano (ADA) is the top blockchain in terms of development activity with 502.57 GitHub commits over a 30-day period. DOGE ‘sandwiched’ between crucial price walls; Breakout soon?
USDC stablecoin issuer Circle mulls IPO in 2024: Bloomberg.(2) CBDCs are 'central' to innovating financial systems, says Agustin Carstens BIS Chief.(2) The Bank of International Settlements (BIS), a coalition of the world's central banks, criticized stablecoins as being "not a safe store of value" in its latest research report dated Nov. 8.
Work is still underway to get bipartisan support for House stablecoin, crypto bills, says Democratic congressman Rep. Wiley Nickel, D-N.C. Deputy Treasury Secretary Wally Adeyemo urges Congress to bolster efforts against illicit use of cryptocurrencies by militant groups such as Hamas. The Justice Department is claiming that it's "critical" for it to have the power to seize cryptocurrency from Americans — even if a judge never signs off.(2) The U.S. Consumer Financial Protection Bureau (CFPB) wants to oversee large nonbank payment providers to ensure they're complying with the same laws that more traditional financial institutions abide by – and some subsectors of crypto transactions are included. CFTC Chair Rostin Behnam says Congress needs to play a more pivotal role in how agencies regulate crypto.(2) European Banking Authority follows UK with Stablecoin draft proposals.(2) SEC struggling to recruit Crypto specialists as candidates unwilling to divest digital asset holdings. Crypto has more than one fraudster, SEC Chair Gary Gensler says.
Ripple CEO Brad Garlinghouse is prepared to escalate the legal struggle over XRP to the Supreme Court.
WATCH
LISTEN
Podcast of the Day: Dylan LeClair Bitcoin Market Overview | Bitcoin Fundamentals
Other Podcast
- Tether FUD | Crypto Town Hall | TWOAS
- David @ Solana Breakpoint | Anatoly & Austin | Bankless
- How a new exchange out of Dubai wants to be the home for the Solana ecosystem | The Scoop
