BitDigest December 1 · Issue #794
- Bitcoin tops 2017 high, sets eyes on $20,000
- ECB President warns stablecoins are threat to current banking system
- Trump’s Spy Chief warns SEC that China’s leading role in digital currencies could harm US companies
Crypto Fear and Greed Index
The Fear & Greed Index for bitcoin and other large cryptocurrencies followed bitcoin’s new high yesterday to reach its own all-time index high of 95. The index recovered from Thanksgiving weakness in the high eighties jumping 7 points yesterday after falling to last weeks level with crypto’s 12% sell off. A 95 certainly signifies sentiment is at the extreme greed level, but hodler greed running to 50k+ BTC levels may allow this value to be maintained for the foreseeable future.
Ethereum 2.0 is Here
While I avoid discussing technical attributes of different blockchain protocols, it should be noted that today marks a milestone in the evolution of Ethereum with the release of Ethereum 2.0’s proof-of-stake beacon chain signifying the start of a move away from proof-of-work and perceived high cost mining.
The Headlines
Lagarde Identifies Flaws in Crypto
National Intelligence Director Warns SEC About Chinese Crypto Influence
South Korea Officially Delays New Crypto Tax Regime Until 2022
Venezuelan Army Mining Bitcoin to Fund Operations
China Prohibiting Power Supply to Crypto Miners in Yunnan Province
Canaan Sales Drop Off in Q3
HIVE Benefits by Move to Mine Ether
Ebang Gains License to 'ASICBoost'
Bitcoin Has Role in Investment Portfolios
Sberbank to Provide Access to Digital Assets
Ledger Hires LVMH Digital Chief to Lead Customer Experience
Market Data
Number of Ether Nodes Surpasses Bitcoin's
Cyberthreats Expected to Increase in 2021
GBTC Gains 59% in AUM During November
Exchange, Custody and Product News
Coinbase to Support Changes to Ethereum
Digital Diversions
Winklevi Expect Bitcoin to Be Top Performing Asset this Decade
Gary Cohn Warns Bitcoin Could Still Fail
Reports you may have missed
Major equity indices are rallying on the back of solid earnings, with both the $SPX and $QQQ up over 1%. Meanwhile, crypto markets are churning lower, which is understandable as we should not expect crypto to rally alongside equities during an earnings-driven market. Crypto remains an apparently undecided market ahead of next week's FOMC meeting and the Quarterly Refunding Announcement (QRA), evidenced by another day of ETF outflows and a...
U.S. equity indices are under pressure today following disappointing economic growth in conjunction with hotter-than-expected prices paid, sparking stagflation fears and reducing the chances of rate cuts. The $SPY has declined 0.91% to test $501 and the $QQQ has dropped 1.12% to $421, being weighed down by a 12% drop in META following its Q1 earnings release. Crypto markets are faring better, with BTC-1.85% (-0.28%) trading at $64k and ETH-1.27% ...
The crypto market is pulling back from its recent surge, with $BTC falling below $65,000, $ETH trading under $3,200, and $SOL fighting to stay above $150. As expected, altcoins are also generally declining, although a few notable performers are scattered across the market. Currently, $BONK and $WIF, two prominent memecoins on Solana, are showing resilience, up 12% and 6%, respectively. Additionally, $HBAR initially doubled in price following reports that Blackrock...
Blockchain Association Sues the SEC, Cosmos Patches Potential Reentrancy Vulnerability
U.S. Treasury rates and the DXY (-0.46%) are sliding today following weaker-than-expected S&P Flash PMI data, helping catalyze a 1% rally in equity indices. Manufacturing PMI came in at 49.9 vs. 52.0 expected, and Services PMI read 50.9 vs. 52.0 expected. Bitcoin miners have benefited as rates retreat and transaction revenue remains elevated, with $RIOT, CLSK, and $MARA showing weekly gains of 26%, 16%, and 14%, respectively. Crypto assets are mixed with BTC-1.85% ...
