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Happy Tuesday Folks! Bitcoin is trading up at $37,150.72. Pretty much flat from yesterday so the bump from the Argentine Presidency was just that a quick pop, Bitcoin still appears to be afraid of $38K. 

SUMMARY

Yesterday, Javier Milei won Argentine Presidency and Bitcoin gains nearly 3%.(6) Today, SEC files new lawsuit against Kraken for allegedly commingling customer funds and operating online trading platform without registering.(8)

Crypto Inflows Soar to $1.32B YTD as Anticipation Grows for Spot-Based ETF Approval: CoinShares. Bitcoin stalls below $38K as analysis hints the  ‘Notorious B.I.D.’ (liquidity provider) is back; could be shaping bid support once again. However, Bitcoin is in a consolidation phase as supply crunches ahead of halving: Bitfinex. Will Bitcoin crash on Thanksgiving? Kaleo weighs in on buying the potential dip; I agree - have some dry powder folks. ‘Smart Whale’ sells 636 Bitcoin worth $23,460,000 as rumors of US Government enforcement actions swirl.

Bitcoin ETF saga reaches ‘pattern break’ as amendments pile up. Pantera Capital CEO Dan Morehead on potential approval of spot Bitcoin ETFs in US: ‘Buy the rumor, buy the news.’(4) Macro indicators suggesting Bitcoin rallies just getting started, according to Ex-Goldman Sachs executive Raoul Pal. Bloomberg Intelligence analyst Jamie Coutts thinks crypto and blockchain technology are at the beginning of a “structural uptrend.” On-chain analyst Willy Woo has used blockchain data mapping bitcoin investors’ average buy-in price to determine that the asset likely won’t descend under $30,000 ever again.

BNB pops after report that DOJ wants $4B settlement with Binance. BNB price gained momentum and climbed above the $250 resistance. It is up over 5% and the bulls could soon aim for a move toward the $300 level.

Jesse Powell, the co-founder of the cryptocurrency exchange Kraken, has slammed the United States Securities and Exchange Commission (SEC) over the agency’s latest legal move.(5) Ripple’s native cryptocurrency – XRP – is not among the tokens classified as unregistered securities in the SEC’s lawsuit against Kraken. Celsius to transition to mining-only NewCo after SEC feedback in updated bankruptcy plan. US Department of Justice (DoJ) to announce major cryptocurrency enforcement actions today at 3PM ET.(4)

Tether worth $9M tied to 'pig butchering' scams is seized by U.S. DOJ.(2) Crypto exchange Binance will settle a long-running investigation with the U.S. Department of Justice in a deal to be announced later Tuesday, multiple reports said.(4) Binance CEO CZ to Step Down as CEO Following US Investigations.(4) After CZ quits as Binance CEO, Richard Teng looks like the heir apparent.

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Podcast of the Day: Why Financial Advisors Are So Excited About a Spot Bitcoin ETF | Unchained