Bitcoin ($BTC) has spent weeks grinding lower, its soul crushed by a liquidity crunch that makes even the most stoic investor weep. But lo! The winds of change are blowing-though whether they’ll bring salvation or chaos remains to be seen. 🌪️
But wait, it gets better! Our flamboyant hero isn’t just stopping at XRP. Oh no, this varchar of volatility has also entangled himself in shorts on Bitcoin and Zcoin, riding the wild winds at 40x and 10x leverage respectively. Looks like someone’s playing Monopoly with real money-just with more risk and fewer rules.
Their missive follows a September report by watchdog group Accountable.US, which claimed WLFI governance tokens were purchased by blockchain addresses connected to the Lazarus Group, an Iranian exchange, and even Tornado Cash. The senators, ever the dramatists, cautioned that selling governance tokens to these actors “gave adversaries a seat at the table,” potentially exposing U.S. national security to risk. 🤯
But hold your horses! History whispers, “This too shall pass.” Maybe Ethereum’s next move is a comeback so dramatic it’ll make a rom-com look bland. 🎬✨
The weekly chart of Bitcoin against the S&P 500 (BTCUSD/SPX) reveals a most intriguing spectacle: the ratio has dipped below a major trendline, a feat as thrilling as a debutante’s first waltz. Yet, let us not be swayed by mere trendlines; the true mark of significance lies in major supports. Lo and behold, the ratio now rests upon the 0.618 Fibonacci, a convergence with horizontal support that would make even the most stoic analyst blush.
The Tokyo Stock Exchange, which you might recognize as the place where people trade shares instead of trading places, is reportedly reviewing “fresh audits” for companies that shift their operations toward “large-scale crypto accumulation.” Translation: If your business model smells like a crypto gold rush, get ready for a knock on your digital door. 🚪
US spot Bitcoin ETFs are on a five-day losing streak longer than a snail’s holiday-drenching the scene with another $372 million in bailouts, according to mysterious folks at Farside Investors. It’s a regular money drip-drip-drip! ☔
Crypto analyst Gordon Gekko (yes, really) spotted an RSI breakout on the ETH/BTC daily chart. Because nothing says “buy” like a technical indicator screaming, “I’m not falling below $3,000 anymore!” Coincidentally, Ethereum briefly dipped to $2,992.23 last night-because $3k is apparently a hard limit now. 💸
Now, a certain sage named Titan of Crypto-who evidently knows which way the wind blows-took to his fancy Twitter to warn us all. He’s tellin’ us that the odds of a bear market are about 80%, with only a slim 20% chance of us seein’ any sort of bull cloud on the horizon. Might as well be checkin’ if the sky’s fallin’ with a spoonful of salt, but he’s serious as a preacher at Sunday service.
The bill aspires to establish a most gracious unified regulatory framework, whereby Bitcoin and Ether shall be officially regarded as digital commodities, falling under the jurisdiction of the esteemed Commodity Futures Trading Commission, thus resolving the longstanding dispute over jurisdiction with the less dependable SEC.
