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Welcome to Thursday Folks! Bitcoin is trading down at $37,709.13. ...and it's gone, I guess Bitcoin decided it was going to go sideways after all. On the daily chart the 20 day SMA is right about $37K so if Bitcoin can maintain this channel it will continue to melt up. However, once this channel is broken to the downside $30K is there to catch it. It's been nearly 7 weeks of green. Let's get on with the news...
JUST IN: MicroStrategy Spends Another $600M to Purchase Over 16,000 BTC; in less than 1 month; Novogratz praises the move.(9)
Yesterday, the Treasury Department sent recommendations to lawmakers, including one that calls for new sanctions tools to fight bad actors in crypto, according to prepared remarks from Deputy Treasury Secretary Wally Adeyemo ahead of the Blockchain Association’s Policy Summit; sanctioned Sinbad.(4) Today, AntPool agrees to refund record $3 million Bitcoin transaction fee.(5)
Deputy Treasury Secretary Wally Adeyemo issued a stern warning about the potential misuse of stablecoins by illicit elements in a speech at a Blockchain Association event in Washington.(3)
Bitcoin price failed again to clear the $38,500 resistance zone, but is leading a significant market shift, marked by a 130% increase in 2023, with its price reaching $38,440. BTC is consolidating above the 100 hourly SMA and might attempt another increase. Bitcoin capital inflow may rise with expected Fed rate pause in December. The whale who bought Bitcoin for 6 thousand dollars and has been sleeping for a long time awakened! BTC worth 136 million dollars moved! Bitcoin eyes best November since 2020 as PCE fails to move BTC price. Bitcoin long futures open interest held by asset managers hits all-time high.
Late yesterday we learned that a new wallet address that went from zero to holding over 10,000 bitcoin (BTC) since the start of November has been identified as belonging to crypto exchange BitMEX. However, the question still remains about this 'mysterious whale.' Is it accumulating millions in Bitcoin—or is it? The cryptosphere is abuzz over a wallet address that has amassed over $450 million in Bitcoin in the last few weeks. Who does it belong to?
Research the dynamics of market manipulation before you jump in Bitcoin ETFs. Grayscale gears up for spot Bitcoin ETF, updating Trust agreement for sake of ‘operational efficiencies.’ World's largest Bitcoin futures ETF breaks 2021 record highs for assets under management (AUM) as ProShares' BITO now has $1.47 billion in holdings, as a flurry of bitcoin ETF applications in the U.S. seemingly spurs institutional interest in the asset.(2) Bitcoin ETF will drive 165% BTC price gain in 2024 — Standard Chartered. Bitcoin ETF presale hits $2 Million as approval odds remain optimistic. If US regulators approve spot bitcoin ETFs, Ark Invest and 21Shares are well-positioned to rapidly accumulate assets and is a strong competitor to BlackRock, according to Bloomberg Intelligence analyst Eric Balchunas.
BitMEX co-founder Arthur Hayes is outlining how capital from China could flow into Bitcoin (BTC). Binance settlement ‘net positive’ for cryptocurrency industry — Mike Novogratz.(2)
A new study claims Bitcoin mining consumed nearly 1,600 billion liters of water in 2021, potentially contributing to global water shortage but, despite criticism, Bitcoin mining is becoming more sustainable with innovations like hydro-cooling farms and waste gas flare usage. Bitcoin going from boiling the oceans to draining them, According to Critic a data scientist for the Dutch National Bank, Alex De Vries claims every bitcoin transaction uses enough water to fill a swimming pool.
Cardano could print new 2023 highs as over $1,800,000,000 in ADA accumulates at current levels.
The introduction of national digital currencies could have "major implications" for the business model of central banks and the risks they face, a Bank for International Settlements group said.
Binance embraces counterparty risk reduction. Trust Wallet reported a Bitcoin node issue, leading to users experiencing failed or delayed transactions and missing transactional history in the wallet app. Users complained the problem had been ongoing for several hours, with the Trust Wallet team assuring them it was working diligently to address the issue.
SEC Commissioner Peirce says agency should work more efficiently to regulate crypto.(2)
Crypto exchange FTX gets nod to sell $873M of assets to repay creditors.(3) XRP case between Ripple and SEC could be settled today and Ripple CLO hints that SEC may lose if Ripple case taken to Supreme Court. Circle sent a letter to U.S. senators, refuting claims that it participated in illicit financing activities. In the letter, Circle also said it did not provide banking services to Justin Sun, the TRON Foundation or HTX.(4)
A consultation paper on a new framework for addressing consumer and business scams proposed by Australia’s Department of the Treasury considers applying sector-specific codes and standards to banking and cryptocurrency scams, among others. RWA protocol Florence Finance loses $1.45M in address poisoning attack.(2)
Podcast of the Day: The European CBDC Debate Heats Up | The Breakdown