MicroStrategy's Michael Saylor believes that bitcoin has bottomed and is now on a new bull run. He attributes this to factors such as the halving of bitcoin, increased adoption of the cryptocurrency, and regulatory crackdowns that will weed out competitors. Saylor also notes the significance of recent proposals for crypto accounting and reporting standards, which could lead to further mainstream adoption. Additionally, he highlights the bullish potential of Ordinals protocol activity on Bitcoin's network. Despite some growing pains in the industry, Saylor remains optimistic about bitcoin's future prospects.
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Bitcoin has bottomed and the world's biggest cryptocurrency is on a new bull run, MicroStrategy's Michael Saylor says
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Fed's Collins: Another rate cut in December is under consideration, but not finalized
Collins from the Federal Reserve stated: A rate cut in December is clearly being considered, but it has not been finally determined. There are currently no signs of price pressure. More data will be released before December, and we will have to continue to evaluate and interpret it reasonably. (Jinshi) -
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On Thursday, U.S.-listed bitcoin exchange-traded funds experienced their third-largest outflow since launch, with over $400 million being drained. Interestingly, each time there has been an outflow greater than $400 million, a local bottom in price has been observed, as seen on May 1 and Nov. 4. This comes as stablecoin liquidity and bitcoin transactions are on the rise, while the ETH/BTC ratio has slid to its lowest point since April. Some are questioning whether bitcoin is losing its bullish momentum. -
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Matrixport: Short-term overbought and strong capital inflows boosted Bitcoin's rise. Three important time points in December are worth paying attention to.
On November 15th, Matrixport released its weekly report stating that Bitcoin is experiencing a strong upward trend driven by multiple positive factors, including continuous inflow of Bitcoin spot ETF funds, expectations of a Fed rate cut, and improved regulatory environment. Bitcoin's 7-day rolling price increase reached $19,265, setting a new historical high and indicating an unprecedented strength in this rebound. Although the short-term RSI indicator shows overbought conditions and a possible consolidation, the report predicts that cryptocurrencies will break through the 8% adoption rate threshold by 2025, laying the foundation for larger-scale adoption. -
Trump appoints former SEC Chair Jay Clayton as US Attorney for Southern District of New York
Donald Trump, the President-elect, has announced that Jay Clayton, the former SEC Chair, will be appointed as the U.S. Attorney for the Southern District of New York. Clayton has advised several crypto firms since leaving the SEC in December 2020 and was responsible for the production of the SEC's DAO Report. He famously stated that most initial coin offerings were securities, a view shared by his successor, Gary Gensler. Trump described Clayton as a "highly respected business leader, counsel and public servant." -
The U.S. Department of Government Efficiency needs “revolutionaries with super high IQs who are committed to small government reform”
the newly established Department of Government Efficiency (DOGE) in the United States has released an official statement via their X account, thanking thousands of Americans for their interest in joining the department. However, they have made it clear that they do not need "part-time creative contributors," but rather "revolutionaries with super high intelligence who are committed to small government reform." Applicants are required to work more than 80 hours per week and focus on plain and simple cost reduction. Applicants who meet the requirements can submit their resumes via private message, and the top 1% of outstanding applicants will be personally reviewed by Elon Musk and Vivek Ramaswami. -
SEC Chairman Gary Gensler Makes Final Lobbying Call for US Crypto Regulation
according to institutional reports, US Securities and Exchange Commission (SEC) Chairman, Clayton, is making a final push to allow the agency to regulate the cryptocurrency market before the Trump administration's term ends and its enthusiasm for digital assets wanes. In a speech prepared for a legal conference in New York on Thursday, Clayton reiterated that the agency should focus on "road rules" applicable to cryptocurrency sales and intermediaries such as brokers and exchanges to support proper disclosure. Clayton stated that the experience of the Great Depression made decision-makers aware of the "importance of disclosure terms, as information about securities creates a public product". (Jinshi Data APP) -
The first #Bitcoin whitepaper draft written by Satoshi Nakamoto 16 years ago.
Title: Electronic Cash Without a Trusted Third Party
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