For a metric so slow and sedate, like a venerable tortoise measuring risks over epochs, such a precipitous plunge is more bewildering than a fool’s errand-disconcerting, even! As if the river of fortune itself took a sudden turn, leaving our brave Bitcoin floundering in troubled waters. 🐢💸
Crypto heatmap on Nov. 20 | Source: Coin360.com
While the sector donned a positive mask, not all ETFs joined the masquerade. BlackRock’s IBIT strutted with $60.61 million in inflows, and Grayscale’s Mini Trust added $53.84 million. Meanwhile, Fidelity’s FBTC and VanEck’s HODL wept, shedding $21.35 million and $17.63 million, respectively. A tale of haves and have-nots, my dear reader. 🎭💔
Analyst Ali (@ali_charts) dropped a bombshell: whales sold 190M XRP in two days. Translation: they’re either prepping for a crypto winter or just really hate us. XRP’s back at $2.11, which feels like the price of admission to a “buy the dip” joke nobody wants to tell. Historically, whale selloffs are like crypto’s version of a midlife crisis – messy and full of regret.
Behold! 87.27% of investors (a mere 87.27%, mind you) have declared their allegiance to the bullish cause. A veritable crusade of optimism! 🚩
World Liberty Financial (WLFI), that audacious crypto venture with a penchant for presidential patronage, has found itself in a tangle of digital disarray. A subset of user wallets, one might say, were the victims of a particularly sly phishing ploy-just as the platform’s token was poised to grace the launchpad like a debutante at a glittering gala.
The SEC, ever the elusive gatekeeper, holds the key. According to the latest filings, Grayscale updated its S-1 with the SEC on November 3, setting into motion a 20-day countdown that will either reward or punish them. If the SEC remains silent, the filing, like a silent judgment, becomes active on November 24, a day that may very well mark the birth of the Grayscale XRP ETF under the symbol GXRP on the NYSE Arca. A mere ticking of the clock. The anticipation, though… palpable, like a faint whisper of revolution.
Intensifying legislative momentum in Washington is reshaping expectations for U.S. crypto rules. Coinbase (Nasdaq: COIN) CEO Brian Armstrong shared on Nov. 18 on social media platform X that he returned to the capital to continue pushing market-structure legislation, noting that the Digital Asset Market Clarity Act could soon reach the president’s desk. Because nothing says “urgency” like a bill that’s been in the works since 2020. 🕒
On November 18, in a chat with Fox Business, Michael Saylor, the man in charge of Strategy, revealed that Bitcoin’s roller-coaster volatility is, surprisingly, dialing down. In fact, it’s dropped from a hair-raising 80% back in 2020 to a still-bumpy-but-better 50% now. Things are getting “stable,” if you can call Bitcoin anything that resembles stable. 🧐
