BITCOIN HITS $77,000 FOR THE FIRST TIME IN HISTORY 🤑

Remember when German government sold 50,000 bitcoins when the price was at $54k? 🇩🇪

They’ve now missed on $1.1 billion of profits from those confiscated assets 🤣

✅ Bitcoin has broken through the $77,000 for the first time, and some slower-moving altcoins have joined the party after the Federal Reserve cut rates 📈

Daily Digest:

🔸 Yesterday, in just one trading day, BlackRock bought $1.1 billion worth of Bitcoin via spot BTC ETF

🔸 Canadian police thanked stablecoin issuer Tether for its assistance in aiding an investigation by freezing stolen USDT

🔸 Sunray Finance on Arbitrum was exploited for $2.7 million 👮

🔸 Alameda Research has filed complaints and tried to reclaim $11M from the Crypto .com-controlled Alameda account

🔸 The Hong Kong trials will let residents register on a regulated stablecoin app and buy tokenized financial products

🔸 The guy who stole $400 million from FTX has requested a temporary release from home detention to attend Chuck E. Cheese 😂

🔸 Donald Trump is considering Wall Street lawyer Richard Farley to replace SEC Chair Gary Gensler

🔹 Prices:

🥇 Bitcoin - $76,411 (↑0.5%)
✨ Ethereum - $2,958 (↑2.5%)
🧪 S&P 500 - 5,995 (↑0.38%)
🕗 DXY - 104.95 (↑0.42%)
🌉 Gold - 2,684 (↓0.82%)

Vitalik Buterin transformation pushes Ethereum price to $3,000 👍🤑

Ethereum's market capitalization surpassed that of American multinational investment bank Bank of America Corporation 🧪

🤑 ETH — $366 billion
🇺🇸 BAC — $346 billion

Trump isn't even president yet and everyone is already gearing up for his rule 😐

🔹 European Union says it can replace oil purchases from Russia with oil from the United States

🔹 Mexico's migrant caravan that was heading to the U.S. is breaking up

🔹 Hamas has called for an immediate end to Israel's war against the group in the Gaza Strip

🔹 China says it hopes for a "peaceful coexistence" with the United States

🔹 Russia’s Putin says he no longer wishes to dethrone the US dollar

🔹 Qatar agreed to kick Hamas out of Doha following US request

🔹 Big U.S. company to move out of China due to upcoming introduction of tariffs in the U.S.

CEO of the American investment management firm VanEck says Bitcoin price will be half of all the gold outstanding, so something like $300,000 🔼🤑

Ethereum is unstoppable 📈

ETH/BTC ratio is now above 0.041 once again 🎉

Bitcoin sets a new price record —$80,000 🤑

Ethereum is making a slow comeback — $3,220 🤑

What Is the RSI Indicator in Crypto Market? 📊

The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. It's widely used to assess whether an asset is overbought or oversold, potentially signaling a trend reversal.

⚙️ How It Works:

RSI compares the magnitude of recent gains to recent losses over a specified time period, resulting in a value between 0 and 100.

• Traditionally, an RSI above 70 indicates an overbought condition, suggesting the asset may be overpriced.

• An RSI below 30 points to an oversold condition, implying the asset might be undervalued.

🕯 How to Use It:

• If the price is rising but RSI is falling, this bearish divergence may indicate an upcoming price drop.

• If the price is falling while RSI is rising, this bullish divergence could signal a potential price increase soon.

On low time frames the RSI can show anything and is not a reliable indicator, but on high time frames it is a great way to predict the future price action

#trading_tips

The RSI has never been so low in the history of crypto cycles after a breakout from the previous all-time high 👀

This means that although we are seeing explosive price action, the market is hardly overheated and there is still plenty of room for growth before a correction 📈

The Dogecoin chart looks insane, we are up 108% in less than a week 🐕

Elon Musk proposed to create a "Department of Government Efficiency" in the US.

The acronym is D.O.G.E. 🐶

✅ Trump's victory kicked off a long-awaited explosive rally, with Bitcoin rising 15% for the week and peaking at $81k, well above last ATH 🔼

Weekly news digest:

🇺🇸 The U.S. Politics

🔹 Donald Trump has won the U.S. presidential election

🔹 Republicans gained a majority in the Senate and the House of Representatives

💎 Crypto

🔸 Detroit, Michigan, becomes the largest US city to accept Bitcoin and crypto for taxes

🔸 Blockchain analytics firm Arkham launched crypto perpetuals exchange

🔸 Tether swapped more than 2 billion USDT to the Ethereum network

🔸 Paxos launched USDG, a Singapore-compliant stablecoin, partnering with DBS Bank
 
🔸 Deutsche Telekom is testing the mining of Bitcoin using the excess energy

🏦 Crypto Exchanges

🔸 Binance has committed $3 million to help the Spanish Red Cross
 
🔸 Mt. Gox moved another $2.2 billion worth of Bitcoin

🔸 Alameda Research has filed complaints and tried to reclaim $11M from the Crypto .com-controlled Alameda account

💵 Finances and Economy

🔸 Nvidia flipped Apple and became the world's most valuable company

🔸 The Bank of England cut its benchmark rate by 0.25%, from 5% to 4.75%

🔸 OpenAI in talks with regulators to become a for-profit company

🔸 Fed cut the interest rate by 0.25% to 4.5%-4.75%

🔸 Swift, UBS, and Chainlink announced the completion of a pilot to settle tokenized fund subscriptions and redemptions using Swift

⚖️ Law and Order

🔸 Nvidia and Facebook ask for legal immunity from securities fraud prosecution from the U.S. Supreme Court
 
🔸 Microsoft risks shareholder lawsuit if it ignores Bitcoin  

 🙊 Personalities

🔸 CZ says SEC can’t tell securities from Beanie Babies in his filing
 
🔸 SEC chairman Gary Gensler will likely soon resign

🔸 Federal Reserve Chair Jerome Powell says he would not resign if President-elect Trump asked him to.

🔸 Donald Trump is considering Wall Street lawyer Richard Farley to replace SEC Chair, Gary Gensler

🚀 Best performers of the week:

Neiro - $0.00262 (↑96.3%)
Dogecoin - $0.263 (↑74.9%)
Cordano - $0.578 (↑72.4%)

MicroStrategy announced the purchase of an additional 27,200 bitcoins valued at approximately $2 billion 🥇

Saylor continues to be active buyer despite ATH prices 🕕

Global crypto market capitalization is now above $3 trillion, approaching the ATH from 2021 📈

🤑 Bitcoin — $85,225

🤑 Ethereum —$3,319

🤑 Dogecoin — $0.32