📉 BTC Drops Below $93K, But Bulls Stay Hopeful!

Over the past 24 hours:

▪️$468M in longs liquidated
▪️Spot Bitcoin ETFs saw $438M in outflows

🐃 Yet, bulls found optimism, comparing charts to the 2020 cycle:

Back then, a November correction at the previous ATH was followed by a massive rally. 🤔

Now, at the psychological $100K level, history might just repeat itself. 🚀

😱 Panic Sell Alert: Bitcoin Dips Below $92K!

Short-term holders are in full panic mode, dumping 54,600 BTC on exchanges in just 24 hours—at a loss! 💸

"Buy high, sell low" isn't exactly the winning strategy, but hey, who needs profits when you can have drama? 🤷‍♂️📉

📉 Bitcoin Long-Term Holders May Sell Another 163K BTC!

According to CoinDesk, long-term Bitcoin holders could offload 163,031 BTC ($15B) soon. 👀

From September to November 2024, they’ve already sold 549,119 BTC ($50B+), cashing in on profits. The biggest sell-off day? November 21, with a record-breaking $10.5B in sales 💵 (Glassnode).

Profit-taking season is in full swing! 💰📊

But corrections are normal in bull runs—stay calm and HODL on! 💎🙌

💥 US Court Rules Sanctions Against Tornado Cash Are Unlawful

⚖️ A US court has declared that Tornado Cash smart contracts cannot be considered "property" subject to sanctions since they are immutable and open-source. As a result, they will be removed from the sanctions list, allowing US citizens to use them again.

🌐 A win for decentralization and the right to use open technologies!

🇩🇪 German MP Calls for Bitcoin as a Strategic Reserve

Joana Cotar, a member of the German Parliament, is pushing for Bitcoin to be adopted as a strategic reserve asset for Germany.

While it’s a forward-thinking move, maybe they should have considered this before selling off confiscated Bitcoin! 🤔💸

💃 OnlyFans Model Turned Crypto Investor

Popular model Amouranth shared her crypto portfolio, asking whether to hold or sell BTC.

💵 Her wallet allegedly holds $20M in BTC and around $80K in ETH.

Whether it’s true or just for clout, who knows? But if it’s real, we’re clearly in the wrong business 😂

According to the MVRV Z-Score indicator, BTC is still far from its peak. 🧐

Some lucky buyers snagged Bitcoin above $93K, and if it recovers and holds above $95K, we might finally declare the correction over. 📈

Black Friday hasn’t even started, but it seems the discounts on BTC are already gone! 🤔

Justin Sun Joins Trump's Crypto Project as Advisor

Tron founder Justin Sun has been invited as an advisor to World Liberty Financial (WLFI), a blockchain project supported by Donald Trump and his three sons. 👀

"We’re honored to welcome Justin Sun as an advisor to World Liberty Financial (WLFI)! His insights and experience will be instrumental as we continue to innovate and grow."

- the project stated.

💰 Just a day earlier, Sun announced he had purchased $30M worth of WLFI tokens. He also credited the new U.S. president for positioning the country as a blockchain hub.

Alongside his crypto ventures, Sun recently purchased Maurizio Cattelan's iconic artwork Comedian (a banana duct-taped to a wall) at a Sotheby's auction. 🍌💎

🤔 Michael Saylor: The Do Kwon of This Cycle?

MicroStrategy’s Bitcoin buying spree has sparked comparisons to Do Kwon’s infamous 2022 run with Terra/LUNA. Saylor’s vision of acquiring a massive BTC stash has some wondering: could this end in another “death spiral”? 🌀☠️

For context, Kwon aimed to buy 1 million BTC to back his UST stablecoin, but it all collapsed, leaving investors with a 99.9% loss. Saylor’s goal? To make MicroStrategy a “Bitcoin investment bank,” backed by his ever-growing BTC holdings. 👀

📈 So far, Saylor’s strategy has boosted MicroStrategy’s stock 459% YTD. But with $35B in BTC on the books, critics worry about the risks of turning Bitcoin into a perpetual motion machine.

Is Saylor building the future of Bitcoin finance or setting up for a Kwon-like crash? Time (and the market) will tell. 🤔

The governments of the US, China, and the UK collectively hold 463,109 BTC worth $43.2 billion!

This amounts to 2.34% of the current supply of the first cryptocurrency. 🧐

And let’s not forget Bhutan and El Salvador, with their solid Bitcoin reserves too... 🌍💰

🍌 Justin Sun is ready to buy a Xiaomi phone taped with duct tape from Xiaomi and is already asking for the price 😁

🇺🇸 A Regulatory Shift for Crypto in the US?

👀 Donald Trump’s team is considering Paul Atkins, a former SEC commissioner, as the next head of the Securities and Exchange Commission (SEC). Known for his pro-innovation stance, Atkins could pave the way for a more favorable regulatory environment for cryptocurrencies and blockchain technologies in the US.

❗️However, the bigger story lies elsewhere: the Trump administration plans to shift crypto regulation to the CFTC (Commodity Futures Trading Commission). This move would classify tokens as commodities, reducing the SEC’s role in overseeing the crypto market. 🤔

👉 If implemented, the CFTC will gain significant control over the crypto space, potentially redefining the regulatory landscape for blockchain businesses in the US.

📈 Bitcoin Demand Soars Among Major Players

🇯🇵 Japanese company Metaplanet plans to raise $62 million to expand its cryptocurrency holdings. Currently, the company owns 1,142 BTC.

🏭 Mining giant Marathon Digital (MARA) has also joined the action, purchasing an additional 703 BTC in November, bringing their total holdings to 6,474 BTC.

🎥 Meanwhile, streaming platform Rumble has announced its adoption of the Bitcoin Standard. As part of its new treasury strategy, the company plans to invest $20 million in Bitcoin.

⚡️ The growing corporate demand for Bitcoin explains why it resists deep corrections. When a scarce asset is in high demand, its price only goes up — it’s simple math. 🤷

😂 When in doubt, double the supply!

Yesterday, Binance announced the delisting of several cryptocurrencies, including Gifto (GFT). Instead of panicking, the Gifto team pulled a bold move — they minted an extra 1.2 billion tokens, effectively doubling the supply. 🎉

But wait, there's more! They then dumped those tokens on exchanges, crashing GFT’s price by 38%. Because, clearly, getting delisted from one of the largest exchanges wasn’t enough drama for the day. 😅

Rumor has it, the funds from the token sale went straight into their pockets, so the near 50% price drop doesn’t seem to bother them at all. Classic! 😎