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Happy Monday Folks! Bitcoin is trading down at $42,348.86. Over the weekend Bitcoin pulled back drastically and the question will be, is this a healthy pullback or is there more downside to be felt? Let's get to today's news...
This week will bring two crucial indicators of the market’s health going into next year: the Fed’s latest decision on interest rates and the release of the United States’ November inflation numbers. Google updates rules to allow advertising Crypto coin trusts.(4) Crypto fund inflows hit $43 million, marking 11-week streak totaling $1.8 billion.(2)
Bitcoin price slips below $42,000 as short-term holders take profit - Long liquidations spike to over $320 million today as bitcoin drops 6% and ether stumble; Analyst say this was expected.(11) Santiment stated that the last decline was seen as a buying opportunity by some investors and said that this correction was the sharpest decline in the last 4 months. Raoul Pal said he believes that there is a greater than "20% chance that this cycle in Crypto and Exponential Age tech is an Everything, Everywhere, All at Once adoption cycle." On the current Bitcoin rally ‘Baby, we are so back’ and big traders still waiting on the sidelines as Crypto launches ‘most hated rally,’ according to Meltem Demirors. Bitcoin advocate Max Keiser announces massive BTC inflow into El Salvador to happen quite soon. Bitcoin halving sees miners accumulate more rigs – Crypto execs eye $100K price target.
Galaxy Digital's Mike Novogratz retracts his skepticism about XRP, now lauding its strong community and Ripple's stewardship. XRP faces flash crash head on, analyst reiterates confidence in $1.4 outlook. Solana surged toward $80 before the bears appeared. SOL price is now correcting gains but the bulls might remain active near the $65 support. Solana Labs co-founder Anatoly Yakovenko and Helius Labs co-founder Mert Mumtaz unpack some of the reasons why they believe Solana has an edge over other blockchains. Analyst Ali Martinez says Dogecoin will likely continue to rally as long as it is above $0.095. Investors eyeing up Solana and Avalanche as cash flows into funds.
Binance P2P will stop supporting Russian ruble trading pairs from January 31, 2024. $2 trillion Saudi Aramco mulls partnership with Japan’s crypto group SBI.
IRS criminal division observes rise in crypto tax evasion cases, shifting focus from money laundering to tax evasion.(2) Binance, Zhao ‘deliberately’ violated US law, SEC argues.
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Podcast of the Day: What Drives BTC's Predictable Four Year Cylces? | The Breakdown
