Trading has diminished, as if men – finally possessing a moment of clarity – hesitate to partake in this feverish speculation. Trading volume has dipped, a mere $83.8 billion exchanged daily, suggesting a collective pause for contemplation. Yet, amongst the derivatives, a different story unfolds. There, the volume swells, a restless current of hedging and – let us not deceive ourselves – a healthy dose of hoping to profit from misfortune.
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.
