FOMC’s Christmas Carol: ‘We Wish You A Merry Rate Cut…and Inflation That’ll Make You Cry' 😭
OVERVIEW
FOMC’s Christmas Carol: ‘We Wish You A Merry Rate Cut…and Inflation That’ll Make You Cry’ 😭
Before we dive in, here’s today’s crypto market heatmap:
Source: Santiment
And here’s a look at crypto’s total and altcoin market cap YTD:
Source: Tradingview
NEWS IN THREE SENTENCES
Crypto News 📰
💰 BlackRock’s Blockchain Muni Bonds: Grandpa’s Bond Game Just Got Funky
Move over, sleepy old muni bonds. BlackRock just bet big on a batch of muni bonds living on the blockchain. Yes, the same dusty asset class that your grandpa used to stash under his mattress now has some digital swagger. The logic? Faster settlements, fewer middlemen, and maybe even a splash of sex appeal for what’s historically been the beige cardigan of investments. CryptoEconomy.
🪙 World Liberty Financial’s SUSdE On Aave v3: Another Stablecoin Buffet?
World Liberty Financial wants SUSdE — presumably pronounced “sudsie” — to join Aave v3’s stablecoin smorgasbord. As if we needed another acronym-laden token to memorize. Look, if it’s stable, cheap, and doesn’t rug-pull your grandma, go for it? TheStreet.
🇺🇸 U.S. Bitcoin Reserve? VanEck’s Crystal Ball Says “Someday, Maybe”
VanEck’s got visions of Uncle Sam hoarding Bitcoin like a dragon’s treasure, turning the U.S. into a digital Fort Knox. When will this magical moment arrive? Who knows. Could be next year, could be when your great-great-grandkids are riding hoverboards. But hey, if the U.S. ever decides to stack sats, it’ll probably break the internet (and a few minds) in the process. CryptoDNES.
🎄 Crypto’s Christmas Tree Bill: The Industry’s Stocking Overfloweth
Congress just stuffed a holiday funding bill full of goodies for the crypto crowd, proving that even politicians can’t resist a bit of festive FOMO. From last-minute rule tweaks to quiet nods at digital asset regulations, this “Christmas tree” bill is a gift that keeps on giving — or maybe taking, depending on your perspective. Tis’ the season for backroom deal-making and crypto-lobby fist bumps. Decrypt.
🌅 Solana’s 66.9 Million Daily Transactions
Solana’s daily transactions just hit a number so big it’s basically wearing a neon sign that says “Look at me, Ethereum!” Sure, 66.9 million sounds impressive, but we all know half of those might be your cousin’s automated trading bots playing hopscotch. Still, beating out the rivals in transaction counts is no joke (even if they’re fake-ish). CryptoSlate.
🤖 Claive AI on Secret Network
Claive AI combines the protective powers of Secret Network’s private computation with the promise of next-gen artificial intelligence. It’s a match made in digital heaven, giving developers the tools to build AI-driven apps that respect privacy while still crunching data like there’s no tomorrow. Claive unlocks a world where AI insights remain safe behind the scenes, so users can trust the process without giving away their secrets (pun 100% intended). Secret blog.
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TECHNICAL ANALYSIS
Litepaper Readers Knew This Could Happen 🧠
The December 9 Litepaper, we looked this chart:
December 9, 2024, Total Crypto Currency Market Cap Weekly Chart – Click to enlarge
One thing that’s still great about the Ichimoku system: it’s dead simple to see when a move’s been stretched too far. The Tenkan-Sen and those candlestick bodies are basically a toxic couple, always running off and then crawling back to each other.
They can scream, kick, and stage their dramatic breakups, but deep down, that miserable codependency keeps them linked. The bigger the gap between the candlestick bodies and the Tenkan-Sen, the higher the odds that price ends up slinking back home.
Fast forward to this week and to Bitcoin’s weekly chart, and we’re in the same situation:
BTCUSD Weekly Chart – Click to enlarge.
The gaps between the candlestick bodies and the Tenkan-Sen remain large, and unless price dips down to the Tenkan-Sen, a sideways market over the next several weeks is the kind of price action we might see as we transition into 2025. 👀
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NEWS IN THREE SENTENCES
Metaverse, NFT, & Gaming News 🎮️
🎨 Exclusive APOC NFT Collection on Casper: A Fusion of Art & Tech
Casper’s debuting an exclusive APOC NFT collection, blending top-tier artwork with cutting-edge blockchain tech. Collectors get to own unique digital pieces that live on a secure, scalable ledger. Think of it as an online gallery where each NFT is a precious artifact, ready to be admired, traded, or stashed away for future generations. Casper blog.
😜 Join the MEME Craze with SPACE ID: Domains & Prizes Aplenty
SPACE ID is tapping into the meme economy, and it’s throwing in prizes, BNB domains, and a party to boot. It’s a playful event that proves Web3 is more than sterile code and protocols — it’s also about community fun, viral in-jokes, and creative chaos. Dive in, snag a domain, and ride the meme wave to glory. Space ID blog.
🌊 Waves Lands 2.0: Your Gateway to a New Virtual Realm
Waves Lands just leveled up. Version 2.0 brings richer features, smoother user experiences, and a more immersive environment built on Waves technology. It’s a whole new dimension of blockchain-driven fun and utility, offering explorers and creators a virtual canvas to meet, trade, and play. Waves blog.
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ON-CHAIN ANALYSIS
Burnt Bag Briefing 🔥
Want to know whether the bulls or bears are feeling the most pain today? Well, this is the place to look. 👀
24-Hour Liquidation Heat Map – Source: Coinglass – Click to enlarge.
In the past 24 hours, 251,277 traders were liquidated, with total liquidations reaching $686.51 million.
The largest single liquidation occurred on Binance, a BTCUSDT pair valued at $5.31 million.
Longs lost $598.59 million, while shorts were hit for $89.37 million. 🤕
LINKS
Links That Don’t Suck 🔗
☀️ Justin Sun’s wBTC involvement is ‘unacceptable risk,’ Coinbase says
😎 Michael Saylor says he’d be willing to advise Trump on crypto matters
⤵️ Crypto could experience harrowing dump post Donald Trump inauguration, Arthur Hayes says
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Author Disclosure: The author of this newsletter holds positions in ADA, DASH, COPI, LTC, LINK, MIN, AGIX, ALGO, DOGE, ZEC, AVAX, XLM, XTZ, and NEAR. 📋
