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Today, there is a lot of writing that BlackRock has started adding bitcoin to its Global Allocation Fund for passive investors. Even details are given in the form of the number of clients of the company and the size of the fund. Allegedly, 0.32% of their investments are able to buy all BTC stocks on the exchanges. Nice excuse to convince the crowd to buy. But only institutionals are more likely to dump and buy on the bottom than to pump and buy on the rise.

Breaking: Justin Sun Confirms 20% Of Staff Layoff At Huobi https://bit.ly/3ic3UIs

Just In: Coinbase To Pay $100 Million Fine In New York https://bit.ly/3QcelIg

The recently set anti-record for bitcoin volatility has been updated again. There has never been such a catastrophically long flat in history. (Galaxy Digital Research)

The correlation between Bitcoin and the SP500 index has set a new record - Kaiko. Getting tethered to the US economy at a time when a recession is looming is sad enough. But in any case, next year I expect a global turn in the crypt. I simply do not believe in the endless fall of a conditionally deflationary asset during an inflationary crisis.

Breaking: KuCoin Undelegates 48 Billion Terra Classic (LUNC), Dump Incoming? https://bit.ly/3IcK8XH

Breaking: Michael Saylor’s MicroStrategy Buys 2395 Bitcoins https://bit.ly/3vmArhO

Tether continues to block USDT wallets at the request of regulators and law enforcement. So far, 810 addresses worth $435.5 million have been blocked. (Dune Analytics) Recently, Tether has also been driven by a wave of FUD, but the company is doing an excellent and stable job. And the peg to the dollar is becoming less and less volatile. But despite this, holding USDT without diversifying stables is not safe anyway.

The activity of investors in the crypto remains high so far, despite the long bearish trend. Usually the bottom came when the interest in the crypt reached almost zero. Now this is not observed (Lunar Crush)

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Bitcoin has come to the lower boundary of the global parabolic channel, from where it is quite logical to expect a new growth cycle. If you look at investing in crypto globally, then where else should you buy, if not after a decrease of ~ 80% from ATH, when all indicators scream about the upcoming growth? I know for sure that many people bought bitcoin in the long term at $40,000 and $60,000 in anticipation of $100,000 and more. And when they come out only to breakeven, bitcoin will bring x3-x4 to those who buy now. And yet, we must be aware that the military-technical cooperation could already complete a large-scale growth cycle and then go to zero. Therefore, the share of capital in the crypt should be adequate to the risks.

Breaking: RBI Chief Reaffirms Crypto Ban, Warns Of Upcoming Financial Crisis https://bit.ly/3G8X2Ey

Indian Crypto Exchanges CoinDCX And WazirX Proof Of Reserves Update https://bit.ly/3Ws7j47

Breaking: Are US Bank Freezing FTX Linked Bank Accounts? https://bit.ly/3uXUp2i

BTC reserves on the Binance exchange have decreased by 8% over the past two days amid FUD on money laundering. But Due to the FTX Crash, They Are Up 24% Over the Last Month - CryptoQuant.

Breaking: Binance Now At Higher Risk Of Facing Sanctions Charges In US Probe https://bit.ly/3FfUbIq

For the 2020-2021 growth cycle, investors recorded a profit of $455 billion, and for the decline cycle of 2021-2022 - a loss of $213 billion. (Glassnode) On average, this is 4 times more than in the 2016-2018 cycles.

Breaking: Terra Do Kwon Explains How SBF And Genesis Led Terra-LUNA Crisis https://bit.ly/3Bg16Ak

Glassnode: positive changes in network activity began in the crypt, but without an increase in the volume of intranet transfers. This means an increase in the interest of ordinary investors at current levels.

The bullish divergence on the weekly Bitcoin chart gives a fairly strong signal for an imminent market reversal. The same situation was in the middle of last year with a bearish signal, and it worked out with a bang. Recently, a huge number of arguments have been in favor of long-term growth. But in fact, we are still almost in a semi-annual outset. Perhaps the market maker has changed tactics and instead of an insanely strong decline, we have an insanely long flat. Polls show that he is driving the market into apathy no less.

Top crypto exchanges that reported on their reserves (Cryptorank)

Since the transition of Ethereum to Proof of stake, the total net emission of coins has amounted to 2317 pieces. In total, 131,454 ETH were issued to PoS validators and 129,137 ETH (glassnode) were burned through EIP1559. Nearly zero inflation is a cherished and almost unattainable dream for macroeconomics this year.

Breaking: Binance Acquires Sakura Exchange BitCoin, Re-Enters Japanese Market https://bit.ly/3io8q6a

An interesting pattern: every increase in the price of Dogecoin this year was a harbinger of a decrease in BTC (Santiment). Given the fresh surge in the price of dogs, the signal may work out 📉

Elon Musk Says Apple Threatened To Remove Twitter From App Store https://bit.ly/3VisdCz

Centralized crypto-exchanges now store the minimum amount of BTC in 4 years. The outflow began in March 2020, and the events around FTX only made things worse. But against the backdrop of a decrease in trust in centralized exchangers, the popularity of wallets is growing significantly. (Sentiment)

Morgan Stanley Research found an obvious positive correlation between the change in the M2 global money supply and the change in BTC capitalization. Simply put, crypto is directly dependent on the printing press in the financial system. At the same time, it should be understood that now the volume of liquidity is falling and, according to preliminary estimates, this process will continue until the middle of next year.

Miners are still selling mined bitcoins to the market. Their overall balance reached a minimum in almost a year (Santiment).

Breaking: Coinlist Reportedly Unable To Withdraw coins; Here’s Why https://bit.ly/3F1inQ1

Almost 1.2 million BTC was lost due to 14 centralized crypto exchanges. For a second, this is 6.3% of all bitcoins in circulation.

Just-In: Bahamas Supreme Court Orders FTX To Pay For Regulatory Action https://bit.ly/3tOMtj5

New day, new record. The number of Ethereum addresses holding at least 10 ETH has reached an all-time high. Today there are almost 335 thousand of them.

Update on centralized crypto exchange balance reports by Colin Wu.

Coinbase Leading XRP Price Surge? Whales Add 139 Mln XRP https://bit.ly/3EcI6De

The exchanges recorded a large influx of stablecoins and an outflow of BTC and ETH. Accordingly, the purchasing power of stables is growing significantly (by about $4 billion per month) - glassnode.

Breaking: Binance CEO “CZ” Announces Crypto Market Recovery Fund https://bit.ly/3A8AsZh

Strong crypto outflows began from centralized crypto exchanges amid the situation with FTX (The Block). According to Nansen, about $1 billion in ETH, $950 million in USDC, $400 million in USDT and $195 million in BUSD have been withdrawn from crypto exchanges over the past 24 hours.

Breaking: Meta Layoffs 11,000 Employees; Mentions Vision For Metaverse https://bit.ly/3hpFTN6

Historically, global cycles of BTC decline did not end with the first prolonged consolidation. The necessary capitulation of the crowd just happened only after the “buying out the bottom” and the subsequent decline. At this stage, full-fledged apathy and a lack of faith in growth had already set in. Now - in the region of $ 20,000, subjectively, according to sensations, many people are trying to buy off the bottom with the expectation of selling at $ 100,000 and more. Statistics on hodlers confirms this - they accumulate their positions. That is why it is too early to talk about the full completion of the correction, to put it mildly. This year will most likely remain negative for military-technical cooperation, and subsequent ones will be green. All this fits perfectly into the halving cycle of the main cryptocurrency.

FTX Clarifies Difficulty In Bitcoin Transactions Amid FTX-Binance War https://bit.ly/3fE08Gv