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Welcome to Thursday Folks! Bitcoin is trading down at $40,003.32. Up, Down, Sideways? I think Bitcoin is drunk right now. Let's get on with the news...
SUMMARY
Yesterday, Celsius sold off $40M worth of $ETH to pay off creditors.(4) Today, CZ tried to stake his Mutli-Billion dollar Binance fortune to temporarily go back to the UAE to visit someone undergoing surgey, but the federal prosecutors denied the request.(3)
$38.5K was the BTFD moment, did you miss it? It's not too late. Fear and greed has hit the lowest point since October, but still over the past 3 days Whales have accumulated over $50M worth of $BTC and Tesla is still HODLing their $387M worth of Bitcoin.(3) Meanwhile the GBTC sell-off is running out of steam. Bitwise published their wallet address in complete transparency and as a result have been rewarded by the Crypto community sending inscriptions and rare sat donations to that wallet address.(3) In addition, it's the only over collateralized ETF. ETH options point to a fall in price even with the bullish expectations of $ETH ETF coming soon.
The IRS is continuing to ask question from taxpayers about their Crypto holdings; working hard to find tax dogers.
If you use Trezor and you got an email indicating some upgrade be very careful.(2) Everyday I read articles about phishing attempts, hacks, scams, you name it. Trust but VERIFY any information you get via email, text, phone call - do not blindly believe you are interacting with good actors. There was yet another massive data breach and all of your information is out there.
MID MORNING
It appears Deutsche Bank conducted some weird survey where most of the people asked thinks Bitcoin is headed below $20K before the end of the year. Umm yeah - that's going to be a no for me dawg. GBTC continue to see outflows and hit the highest level in the past 9 days; but it could be easing.(3) However, there is a big bid block right under $40K and that might keep the price above $40K.
Swan Bitcoin has started to mine Bitcoin and have mined 750 $BTC already.(3) Welp it appears the SEC is delaying a decision on the Spot $ETH ETF - not really a shocker right?(2)
AFTERNOON
It appears that the U.S. Government is going to sell $130M in BTC seized from Silk Road; peanuts compared to the GBTC selling.(3) Maybe China will buy it since the ban hasn't stopped Chinese citizens from buying $BTC. BitcoinOS has arrived and it will provide smart contract capability on the Bitcoin Blockchain. As it pertains to the ETF market, Matt Hougan believes we could see some upside price action in the coming days.
WATCH
LISTEN
Podcast of the Day: #1299 Fred Thiel | Largest Bitcoin Miner Explains Why Bitcoin Will Explode | TPP
