Recently, the Federal Revenue Service, that ever-watchful guardian of the purse, announced an intention to bring crypto transactions into the fold of international tax standards. A noble effort to straddle the line between progress and control, perhaps motivated more by a desire for coffers than for clarity.
In a new post on X, analyst Ali Martinez, ever the sage of the digital realm, has expounded on how Dogecoin’s support is shaped by the Cost Basis Distribution (CBD). A mystical artifact, this CBD, which reveals the secrets of the market’s soul, as if the coins themselves whispered their tales to Glassnode.
For now, XRP clings to life above $2, but the battle is dire, the defenses crumbling like sandcastles beneath the tide. Liquidity thins, macroeconomic clouds loom, and the specter of a deeper reset dances in the shadows. A breach of this fragile line could unleash chaos, while a rebound might yet carve a path for redemption. But what is redemption in a world where hope is but a fleeting mirage? 🌀
Ethereum had a grand vision of surpassing $3,150 but, alas, it started to fall apart-just like Bitcoin. After dipping below $3,050, ETH entered its favorite zone: bearish territory.
So. CME Group – yes, that CME, the one that treats Bitcoin like it’s their embarrassing cousin who showed up to the gala in Crocs – has dropped a “Special Executive Report” (fancy name for “we saw the money and panicked”). 🔥 They’re launching Spot-Quoted XRP and Spot-Quoted SOL futures. Officially. On December 15. Because nothing says “trust us, we’re regulated” like launching a futures contract two days after Christmas. 🎄⚰️
Meanwhile, Bitcoin rebounded above $91,000 after briefly dipping below $89,000, as analysts attributed much of the crypto market’s decline to growing concerns about a potential AI bubble. 🧠💥
On the 19th of November, the gavel fell with a lighter hand than expected for Mr. Hill, who now joins his co-founder in a federal correctional institution. Both were arrested in July 2024, a date that will live in infamy for their crypto escapades. 🗓️
Yet, amid this financial waltz of despair, three faint glimmers of hope flicker like fireflies near the $0.45 support zone. Whether they’re real or just wishful thinking remains to be seen.
The digital gold standard, Bitcoin, and its lesser-known cousin, Ethereum, have plunged like a lead balloon at a hot-air balloon festival. BTC lost 4.5%, ETH a staggering 8.1% in 24 hours. One might assume they were fleeing a fire sale-or perhaps just dodging Tom Lee’s latest forecast.
The report spills the tea: despite all the bearish chatter, no one’s changed their positions. They’re just sitting there, watching their losses pile up like unpaid parking tickets. 10x says this is where the real action starts. 🕵️♂️
