CryptoBuzzPosts 🐝

Revisiting Trump’s crypto promises after his election win 🐝 ~ ~ The Forward Guidance newsletter reports that following the recent election, Donald Trump is poised to return to the White House, boosting optimism in the crypto industry. Bitcoin reached a record high due to Trump’s pro-crypto promises, such as firing SEC Chair Gary Gensler and supporting domestic bitcoin mining. With an increasing number of pro-crypto congressional members (257 House candidates vs. 115 anti-crypto), the landscape appears favorable for cryptocurrency legislation. Experts highlight stablecoin legislation and the BITCOIN Act as priorities. Immediate actions could include addressing banking regulator policies and establishing a crypto advisory council. Trump’s approach could significantly impact the industry’s future. @CryptoBuzzPosts 🐝 ~ ~

SEC Seeks Court Approval to Dismiss Kraken’s Major Legal Defenses 🐝 ~ ~ The U.S. SEC has filed a motion in California court to dismiss key defenses from Kraken in their ongoing legal dispute. The SEC argues that Kraken had sufficient notice about potential violations related to securities laws concerning crypto asset offerings. Kraken’s legal team criticized the timing of the SEC’s motion, labeling it an “Election Day gambit” intended to bypass scrutiny of the SEC’s inconsistent policies. The SEC seeks to eliminate Kraken’s defenses related to due process and major questions doctrine, asserting that such protections are unnecessary. The dispute arises amid Kraken’s demand for a jury trial and its challenge to the SEC’s classification of 11 cryptocurrencies as securities. @CryptoBuzzPosts 🐝 ~ ~

XRP Performs Massive Comeback: Details 🐝 ~ ~ XRP has recently surged above key moving averages (50 EMA, 100 EMA, and 200 EMA), signaling a significant comeback and establishing strong support at $0.50. Currently priced around $0.56, XRP faces potential resistance at $0.58 and $0.60, important levels that could impact further gains. A breakthrough above $0.60 may lead to higher targets near $0.65. Established support at $0.50 demonstrates market stability, while the 100 EMA around $0.54 could cushion any declines. Despite bullish momentum, the RSI indicates a potential need for caution. Overall, XRP’s performance suggests a promising outlook if it maintains momentum above these critical levels. @CryptoBuzzPosts 🐝 ~ ~

Bitcoin's Potential Growth Amid Market Transition Click to see more

Dogecoin Path To $23? Fibonacci Extensions Hint At Massive Upside With Musk-Trump Influence 🐝 ~ ~ Elon Musk’s favored cryptocurrency, Dogecoin (DOGE), may be poised for a significant rally following Donald Trump’s election as the 47th U.S. president. Technical analyst Ali Martinez suggests DOGE could soar to between $4 and $23, driven by Fibonacci extension levels. Currently priced at $0.202, it experienced an 18% increase post-Trump’s victory. While potential policy changes during Trump’s administration could favor cryptocurrencies, investors should remain cautious due to recent price surges signaling potential overbought conditions. Meanwhile, Bitcoin (BTC) hit an all-time high of $74,249, reflecting a broader positive sentiment in the crypto market. @CryptoBuzzPosts 🐝 ~ ~

Bitcoin ETFs log $621.9m inflows as BTC hits all-time high of $76K 🐝 ~ ~ On November 6, spot Bitcoin exchange-traded funds (ETFs) in the U.S. saw net inflows of $621.9 million, coinciding with Bitcoin reaching a record high of over $76,000. Fidelity’s FBTC led the inflow surge with $308.77 million, followed by ARK 21Shares’ ARKB and Grayscale Bitcoin Mini Trust. BlackRock’s iShares Bitcoin Trust, however, faced $69.11 million in outflows. The day marked the highest trading volume for IBIT at $4.1 billion. Analysts credit the bullish trend in Bitcoin, partly due to Donald Trump’s election victory and potential pro-crypto policies, with expectations for further ETF approvals in 2024. @CryptoBuzzPosts 🐝 ~ ~

BlackRock Bitcoin ETF Trumps Berkshire, VISA Stocks In Trading Volumes 🐝 ~ ~ Following Donald Trump’s presidential victory, spot Bitcoin ETFs saw a significant uptick, led by BlackRock’s iShares Bitcoin Trust (IBIT), which experienced a record trading volume of $4.1 billion, surpassing major stocks like Berkshire Hathaway and Visa. The IBIT surged 10%, indicating potential for future inflows as investor confidence grows. The collective trading volume of nine U.S. Bitcoin ETFs reached $6 billion, marking a peak since their inception. Fidelity’s Bitcoin ETF (FBTC) led inflows with over $300 million. Analysts predict Bitcoin could rise further, possibly hitting $100,000, if the Federal Reserve implements a rate cut. @CryptoBuzzPosts 🐝 ~ ~

Increased demand and heightened volatility signal further upside for Bitcoin – Glassnode 🐝 ~ ~ On November 6, Bitcoin (BTC) reached a new all-time high, driven by substantial institutional and retail inflows totaling $2.5 billion and increasing market volatility, according to Glassnode’s “Week On-chain” report. Bitcoin’s market Realized Cap increased to a record $656 billion. The options market reflected this surge, with open interest nearing $25.2 billion and trading volume at $2.9 billion. A balanced split between put and call options suggests mixed investor sentiments. Despite recent ETF outflows, $2.2 billion in inflows over the week highlights ongoing investor interest, particularly as Bitcoin’s momentum potentially attracts further inflows. @CryptoBuzzPosts 🐝 ~ ~

The newest pro-crypto faces on Capitol Hill 🐝 ~ ~ The top three crypto super PACs — Fairshake, Protect Progress, and Defend American Jobs — did not donate to presidential candidates but backed congressional races. Notable winners include West Virginia Governor Jim Justice, who supports crypto innovation, and Texas state Rep. Julie Johnson, advocating for clear regulations. In a tight race, Bernie Moreno defeated Sen. Sherrod Brown, perceived as anti-crypto. Adam Schiff won a Senate seat backed by Fairshake, and John Curtis moved from the House to the Senate with substantial PAC support. These new faces reflect the growing influence of the crypto industry in Congress. @CryptoBuzzPosts 🐝 ~ ~

Altcoin Season Rises as Bitcoin Dominance Drops Over 2% in 8 Hours Following Trump Election Victory Click to see more

BlackRock’s Bitcoin ETF Clinches Record $4 Billion Trading Volume Amid Trump Win 🐝 ~ ~ BlackRock’s iShares Bitcoin Trust (IBIT) reached a record daily trading volume of $4.1 billion amid Bitcoin’s all-time high of over $75,000, following Donald Trump’s electoral victory. The trust saw $1 billion in trading within 20 minutes of market opening, matching its typical full-day volume. This spike reflects increasing investor confidence in institutional crypto products, particularly with Trump’s promises of regulatory support and potential SEC changes. Overall, US spot Bitcoin ETFs achieved a total of $6 billion in volume, doubling their average. IBIT, holding 429,185 BTC valued at $30 billion, stands out among competitors due to its competitive fee structure. @CryptoBuzzPosts 🐝 ~ ~

Price Nears $200, Ethereum (ETH) Paints New Hidden Pattern, Dogecoin (DOGE) Secures Yearly High 🐝 ~ ~ Solana recently experienced a significant 12% price surge, termed a “god candle,” indicating strong bullish momentum amidst a positive cryptocurrency market. This rally coincided with Bitcoin reaching record highs, enhancing overall market sentiment. Solana’s RSI suggests potential for further growth as it surpasses previous resistance levels. In contrast, Ethereum remains trapped in a descending trading channel, struggling to break resistance, with critical support around $2,353 and $2,200. Dogecoin has also reached new annual highs, signaling bullish momentum, but faces potential profit-taking corrections. Market trends and investor support will significantly influence future price movements across these cryptocurrencies. @CryptoBuzzPosts 🐝 ~ ~

Solana Overtakes BNB To Claim Coveted 4th Spot In Crypto Ranks 🐝 ~ ~ Christian embodies the journalist’s ethos, seamlessly managing his dual life as a cryptocurrency writer and a mechanical enthusiast. His journey began as a feature writer in college, leading to a decade at a prominent Philippine newspaper before pivoting to the dynamic realm of crypto journalism with NewsBTC. Christian simplifies complex cryptocurrency topics for a broad audience and values the support from his management team. Outside work, he enjoys motorbiking on his Yamaha R3, cherishes his pets, relies on coffee and Filipino cuisine to fuel his writing, and envisions a promising future at NewsBTC. @CryptoBuzzPosts 🐝 ~ ~

U.S. is ‘going to build’ a strategic BTC reserve 🐝 ~ ~ Senator Cynthia Lummis confirmed plans to establish a strategic Bitcoin Reserve in the U.S. shortly after Donald Trump’s presidential election victory. Her November 6 tweet highlighted America’s potential $12 billion Bitcoin stockpile as a solution to rising national debt. Lummis first announced the reserve concept at the July Bitcoin 2024 conference, where Trump supported initiatives against state-backed Bitcoin selling. She submitted supporting documents, and widespread public support followed. With Republicans gaining control in Congress and pro-crypto candidates winning seats, a strategic Bitcoin Reserve bill could advance, positioning the U.S. to recognize Bitcoin as a national reserve asset. @CryptoBuzzPosts 🐝 ~ ~

Bitcoin (BTC) Surpasses 76,000 USDT with a 9.67% Increase in 24 Hours Click to see more

Tether Provides Clarification On $2 Billion USDT Mint 🐝 ~ ~ Tether’s CEO, Paolo Ardoino, addressed recent on-chain data showing that Tether issued 2 billion USDT on Ethereum. He clarified that the notification was delayed, mentioning a coordinated chain swap with a major exchange to move USDT from various blockchains to Ethereum. This strategic move aims to optimize liquidity, responding to increased demand for Ethereum-based tokens. Tether plans to retire USDT from underutilized blockchains like TRC20 and Avalanche, without increasing the total USDT supply. Despite a slight supply decrease, Tether remains the dominant stablecoin, experiencing significant trading activity amid a crypto market surge. @CryptoBuzzPosts 🐝 ~ ~

JPMorgan to launch instant euro-dollar conversions on its blockchain 🐝 ~ ~ JPMorgan is set to launch instant dollar-euro settlements using its Kinexys blockchain in the coming months. The bank will utilize its JPM Coin for secure transactions among participating institutions, with plans to include sterling transactions post-regulatory approval. Kinexys currently processes over $2 billion in transactions daily but represents a small portion of JPMorgan’s $10 trillion daily payments volume. The initiative aims to reduce operational costs and enhance liquidity, but the blockchain operation is not yet profitable. Executives expect to balance costs and revenue within three to five years as transaction volumes grow tenfold this past year. @CryptoBuzzPosts 🐝 ~ ~

Polymarket performs smoothly on Election Day, processes $240M in trading volumes 🐝 ~ ~ On a significant night for Polymarket, the crypto application achieved $240 million in trading volume, showcasing its potential as a mainstream decentralized application. It employs a hybrid model where offchain matching pairs with onchain settlement via Polygon’s sidechain. Despite processing nearly 2.9 million transactions, the value of Polygon’s POL token remains low, accruing only $10,571 in fees on election day, despite being up 7.2% at $0.30. Polymarket’s future success hinges on expanding beyond US political betting into other areas like sports, which faces competition from existing platforms. @CryptoBuzzPosts 🐝 ~ ~

Bitcoin All-Time High Arrived Right on Time—Here’s Why 🐝 ~ ~ Bitcoin’s price surged to $74,555 following Donald Trump’s projected win in the U.S. election, peaking at $75,358. This aligns with historical trends, particularly after Bitcoin’s halving events, which occur roughly every four years and reduce miner rewards to control supply and inflation. Experts note that Bitcoin typically breaks records within six months after halving; the last event in April reduced rewards to 3.125 BTC, supporting bullish sentiment. Predictions suggest Bitcoin could reach $80,000 to $90,000 by year’s end, fueled by Trump’s pro-crypto stance and previous patterns showcasing significant price increases post-halving. @CryptoBuzzPosts 🐝 ~ ~

BlackRock’s Bitcoin ETF Seeing “Crazy” Trading Volume 🐝 ~ ~ Eric Balchunas, a leading ETF analyst, reported that BlackRock’s iShares Bitcoin Trust ETF (IBIT) achieved $1 billion in trading volume within 20 minutes and is expected to set a new record. Unlike typical ETF trading spikes during sell-offs, this surge appears to be a result of a “feeding frenzy” as Bitcoin’s price rises sharply. On October 29, IBIT recorded $3.3 billion in trading volume and attracted $1.8 billion in inflows shortly after. Balchunas noted that other ETFs are also experiencing significant volumes, with Bitcoin priced at $74,313, indicating a potential trend of fresh investments in Bitcoin ETFs. @CryptoBuzzPosts 🐝 ~ ~