In the last 24 hours, $235 million worth of leveraged long positions have been liquidated 🫡

BTC didn't drop 5% or 10%, it dropped 0.5%, but people are so overleveraged that even this small move caused massive liquidations 😵

Why do people like to long the top with inexcusably high leverage so much?

Michael Saylor, CEO of Microstrategy, hints at more BTC purchases in the coming days 🕕

The last time he tweeted like this, the company announced $4.6 billion in purchases 🤑

✅ This week, Bitcoin rose 8.1%, surpassing its historical high several times and at one point almost reaching $100,000, within $500 of the mark 🔼

Weekly news digest:

💎 Crypto

🔸 MicroStrategy announced it had bought another 51,780 BTC worth $4.6 billion during the last week

🔸 A user accidentally sent $129M USDT to a scam address while attempting a transaction

🔸 MicroStrategy announced it has completed a $3 billion offering of convertible notes to buy even more Bitcoin

🔸 Apple confirmed that its devices were left vulnerable to an exploit that leaves crypto users exposed

🔸 Sui blockchain signed a strategic partnership with $1.5 trillion asset manager Franklin Templeton 👋👋

🔸 Polymarket prediction betting market opted to block France-based users 

🌀 Crypto Exchanges

🔸 FTX payouts for creditors and clients are expected in March 2025

🔸 Coinbase will delist wBTC in December

🔸 Donald Trump will meet with the CEO of crypto exchange Coinbase

💵 Finances and Economy

🔸 South Korean virtual asset deposit platform Delio was declared bankrupt with $1.75B in assets lost
 
🔸 Mastercard collaborates with JPMorgan to bring cross-border payments on the blockchain 🌎
 
🔸 Goldman Sachs is preparing to launch three new tokenization crypto products later this year

⚖️ Law and Order

🔸 CFTC has endorsed using blockchain technology to manage trading collateral in United States derivatives markets

🔸 SEC Chair Gary Gensler plans to fully leave the commission — not just step down as chairman — on Jan. 20
🔸 A judge has tossed out the broker-dealer rule for crypto liquidity providers from the US SEC

🔸 FTX co-founder Gary Wang was sentenced to time served plus forfeiture of assets 🎎
 
🔸 California judge ruled DAO members liable under partnership laws 

 🗣 Personalities

🔸 Trump picked pro-crypto hedge fund manager Scott Bessent for Treasury Secretary

🔸 The incoming CEO of banking and investment giant Charles Schwab says "I have not bought crypto, and now I feel silly"

🔸 Shaquille O’Neal has agreed to compensate $11m to investors tied to his embattled Astrals NFT project

🚀 Best performers of the week:

XLM - $0.507 (↑149.8%)
SAND - $0.722 (↑105.6%)
MANA - 0.656 (↑67.6%)

Join our chat 🗯

Historic Record 🥇

Investments in digital assets soared to a record-breaking $3.13 billion in just one week ↗️

Since September, following the rate cuts in the US, total inflows have reached an impressive $15.2 billion 💰

Oops! Bitcoin dropped by 4.41% today 🔽

Bitcoin dominance is now at 58.8%, down by 4.8% from the local high of 61.5% 📉

Remember, even in a bull market there will be dips, they are meant to be bought

It didn't take long 😅

PumpFun, the Solana meme coin launchpad platform, has removed live-streaming feature from its platform 🛠

This comes after a wave of criticism from the community in response to the large amount of outright vulgarity that was taking place on the streams 🔞

✅ Bitcoin price falls as market cap dominates, Ethereum meanwhile shows relative strength as BTC falls below $95k and ETH rises above 3,500 📉📈

Daily Digest:

🔸 Huobi's L1 blockchain HECO Network will shut down on January 15, 2025

🔸 Investments in digital assets soared to a record-breaking $3.13 billion in just one week

🔸 Justin Sun's Tron buys $30 million of Trump-backed World Liberty Financial tokens 🛒

🔸 PumpFun, the Solana meme coin launchpad platform, has removed the live-streaming feature from its platform

🔸 $100 billion asset manager Wisdom Tree registers for spot XRP ETF

🔸 MicroStrategy bought 55,000 more bitcoins worth approximately $5.4 billion 🐳

🔸 Cantor Fitzgerald acquired a 5% stake in Tether for up to $600m

🔹 Prices:

🥇 Bitcoin - $93,753 (↓2.3%)
✨ Ethereum - $3,489 (↑4.3%)
🧪 S&P 500 - 5,987 (↑0.30%)
🕗 DXY - 106.89 (↓0.62%)
🌉 Gold - 2,626 (↑3.15%)

This legendary fumble by the German government this summer will go down in history. Truly noodle hands 😆

Good morning! The day starts with another drawdown after many weeks of uninterrupted growth 🔽

One major coin is showing an unusual resilience, have you noticed which one? 🤑

Changpeng Zhao, the former CEO of Binance, may be signaling that the meme coins meta is coming to an end 👀

It may be worth looking at solid fundamental projects ⚙️

In the last 24 hours, $579 million in long positions have been wiped out of the market 😱

Approximately 226,000 traders have been liquidated.

$180 million of that volume is Bitcoin long positions 🤑

$96 million attributed to Ethereum 🤑

For the past decade, the mainstream media has all labeled Bitcoin as a bubble 🫧

Now they are debating whether Bitcoin will reach a price of $13 million or $49 million 🫧

✅ The correction continues, the price of Bitcoin reached $90,700 today, but not all coins fell hard, some even rose. Now is the time to buy the coins that performed well during this dump 👀

Daily Digest:

🔸 President-elect Trump administration considers CFTC not SEC to lead digital asset regulation

🔸 US court rules sanctions placed against Tornado Cash crypto mixer were unlawful 🌪

🔸 Bill to establish strategic Bitcoin reserve officially introduced in Brazil's Chamber of Deputies

🔸 Bitwise filed S-1 registration for ETF tied to Bitcoin and Ether

🔸 The U.K. Financial Conduct Authority said it wants to implement a crypto regime by 2026.

🔸 Meme coins are “getting a little weird now,” former Binance CEO Changpeng “CZ” Zhao said on X 🕐

🔸 Morocco preparing a law to allow crypto, central bank chief says

🔹 Prices:

🥇 Bitcoin - $91,944 (↓2.0%)
✨ Ethereum - $3,314 (↓3.4%)
🧪 S&P 500 - 6,021 (↑0.57%)
🕗 DXY - 106.83 (↓0.17%)
🌉 Gold - 2,628 (↑0.18%)

That's just how it is 😁