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@TheBigWhale
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🚨 Dogecoin's 11% Drop Leads Losses in Crypto Majors as Bitcoin Sours Festive Mood
Dogecoin (DOGE) experienced an 11% drop, leading losses among major cryptocurrencies as Bitcoin (BTC) also declined by 4.2%. This marks the third consecutive day of losses in the crypto market, attributed to overly bullish sentiment and profit-taking following the recent FOMC meeting.
Analysts from QCP Capital noted that the market's previous optimism left it vulnerable to sell-offs, particularly after the Federal Reserve signaled fewer rate cuts than expected for 2025. Other cryptocurrencies like Ethereum (ETH) and Solana (SOL) saw declines of up to 9%. The CoinDesk 20 index, which tracks major tokens, fell 5.5%, with significant liquidations in the futures market.
Historically, December is seen as a bullish month for Bitcoin, but the recent downturn has raised concerns about market stability.
Dogecoin (DOGE) experienced an 11% drop, leading losses among major cryptocurrencies as Bitcoin (BTC) also declined by 4.2%. This marks the third consecutive day of losses in the crypto market, attributed to overly bullish sentiment and profit-taking following the recent FOMC meeting.
Analysts from QCP Capital noted that the market's previous optimism left it vulnerable to sell-offs, particularly after the Federal Reserve signaled fewer rate cuts than expected for 2025. Other cryptocurrencies like Ethereum (ETH) and Solana (SOL) saw declines of up to 9%. The CoinDesk 20 index, which tracks major tokens, fell 5.5%, with significant liquidations in the futures market.
Historically, December is seen as a bullish month for Bitcoin, but the recent downturn has raised concerns about market stability.
🚨 Next U.S. Senate Banking Chair Calls Crypto 'Next Wonder' of World
Senator Tim Scott, the incoming chair of the U.S. Senate Banking Committee, expressed strong support for cryptocurrency, calling it the "next wonder of the world" during a recent event. He announced plans to prioritize crypto legislation, emphasizing the need for regulatory frameworks to foster innovation in the sector. Representative French Hill, the next chair of the House Financial Services Committee, anticipates that significant crypto legislation could be passed in 2025, but it will require bipartisan support to succeed in the Senate.
Scott intends to create a digital assets subcommittee, marking a shift from the more skeptical approach of his predecessor. Both lawmakers highlighted the Financial Innovation and Technology for the 21st Century Act (FIT21) as a key legislative starting point, and they acknowledged the importance of working with the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) on regulatory matters. The overall sentiment in Congress is shifting positively towards crypto, with expectations for more comprehensive legislation in the near future.
Senator Tim Scott, the incoming chair of the U.S. Senate Banking Committee, expressed strong support for cryptocurrency, calling it the "next wonder of the world" during a recent event. He announced plans to prioritize crypto legislation, emphasizing the need for regulatory frameworks to foster innovation in the sector. Representative French Hill, the next chair of the House Financial Services Committee, anticipates that significant crypto legislation could be passed in 2025, but it will require bipartisan support to succeed in the Senate.
Scott intends to create a digital assets subcommittee, marking a shift from the more skeptical approach of his predecessor. Both lawmakers highlighted the Financial Innovation and Technology for the 21st Century Act (FIT21) as a key legislative starting point, and they acknowledged the importance of working with the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) on regulatory matters. The overall sentiment in Congress is shifting positively towards crypto, with expectations for more comprehensive legislation in the near future.
#TOTAL2
Powerful altseason in 2020 emerged after formed cup & handle pattern and pinbar above the broken neckline🤔
In 2024 we have similar pattern with pinbar formed this week👨💻
Altseason from tomorrow?👀
Powerful altseason in 2020 emerged after formed cup & handle pattern and pinbar above the broken neckline🤔
In 2024 we have similar pattern with pinbar formed this week👨💻
Altseason from tomorrow?👀
🚨 Bitcoin Soars to Record High Above $106K, Then Retreats as Hawkish Fed Rate Cut Looms
Bitcoin ($BTC ) briefly soared to over $106,000, setting a new all-time high, before dipping back to around $104,500 amid concerns about the upcoming U.S. Federal Reserve (Fed) rate cut. The Fed is expected to lower the benchmark borrowing rate by 25 basis points, totaling a 100 basis point easing since September. However, there are worries that the Fed's accompanying commentary may temper expectations for further rate cuts, potentially dampening the bullish effect of the announcement.
The Fed will reveal its rate decision, projections, and economic forecasts on December 18, followed by a press conference with Fed Chair Jerome Powell. Analysts predict that the Fed may adjust its projections for future cuts due to a stronger economy and persistent inflation.
Despite potential challenges from a "hawkish" cut, seasonal trends are favorable for Bitcoin, and positive regulatory signals from President-elect Trump could mitigate short-term impacts. Additionally, ongoing rate cuts from the Fed and expected easing from China support Bitcoin's bullish outlook. Later this week, markets will also receive the core PCE reading, which may indicate whether recent inflation increases are temporary or signify a broader trend.
Bitcoin ($BTC ) briefly soared to over $106,000, setting a new all-time high, before dipping back to around $104,500 amid concerns about the upcoming U.S. Federal Reserve (Fed) rate cut. The Fed is expected to lower the benchmark borrowing rate by 25 basis points, totaling a 100 basis point easing since September. However, there are worries that the Fed's accompanying commentary may temper expectations for further rate cuts, potentially dampening the bullish effect of the announcement.
The Fed will reveal its rate decision, projections, and economic forecasts on December 18, followed by a press conference with Fed Chair Jerome Powell. Analysts predict that the Fed may adjust its projections for future cuts due to a stronger economy and persistent inflation.
Despite potential challenges from a "hawkish" cut, seasonal trends are favorable for Bitcoin, and positive regulatory signals from President-elect Trump could mitigate short-term impacts. Additionally, ongoing rate cuts from the Fed and expected easing from China support Bitcoin's bullish outlook. Later this week, markets will also receive the core PCE reading, which may indicate whether recent inflation increases are temporary or signify a broader trend.
🚨 Vancouver City Council Passes pro-bitcoin Motion Citing Fiat Challenges
Vancouver's city council has approved a motion to explore accepting bitcoin ($BTC ) for tax and fee payments and to establish a bitcoin reserve. Proposed by Mayor Ken Sim, the motion aims to diversify the city's financial reserves and payment options to enhance financial stability. City staff are tasked with reporting on the feasibility of a "bitcoin-friendly city" strategy by the end of Q1 2025.
This marks a notable shift from previous policy, as former Mayor Kennedy Stewart had sought to ban bitcoin ATMs in 2019. Vancouver is also notable for being the childhood home of former Binance CEO Changpeng 'CZ' Zhao and the headquarters of the failed crypto exchange QuadrigaCX.
Vancouver's city council has approved a motion to explore accepting bitcoin ($BTC ) for tax and fee payments and to establish a bitcoin reserve. Proposed by Mayor Ken Sim, the motion aims to diversify the city's financial reserves and payment options to enhance financial stability. City staff are tasked with reporting on the feasibility of a "bitcoin-friendly city" strategy by the end of Q1 2025.
This marks a notable shift from previous policy, as former Mayor Kennedy Stewart had sought to ban bitcoin ATMs in 2019. Vancouver is also notable for being the childhood home of former Binance CEO Changpeng 'CZ' Zhao and the headquarters of the failed crypto exchange QuadrigaCX.
Bitcoin's recent price correction has been linked to the announcement of Google's Willow quantum computer, which some believe could threaten cryptocurrency security. However, experts refute this notion, stating that:
- Google's Willow chip has only 105 qubits, far below the estimated 13 million qubits needed to compromise Bitcoin's encryption.
- Bitcoin developers are already working on making the cryptocurrency quantum-safe.
- If quantum computing becomes a viable threat to Bitcoin, traditional banking systems would also be at risk.
- For Willow to pose a real threat, it would need to be affordable and widely accessible, which is unlikely given the current market, as seen with the availability of NVIDIA's H200.
- Google's Willow chip has only 105 qubits, far below the estimated 13 million qubits needed to compromise Bitcoin's encryption.
- Bitcoin developers are already working on making the cryptocurrency quantum-safe.
- If quantum computing becomes a viable threat to Bitcoin, traditional banking systems would also be at risk.
- For Willow to pose a real threat, it would need to be affordable and widely accessible, which is unlikely given the current market, as seen with the availability of NVIDIA's H200.
🔹 Giant Company Announces $500 Million #Bitcoin ($BTC ) Plan!
Riot Platforms has announced plans to issue $500 million in convertible senior notes, following MicroStrategy's strategy of raising funds to acquire Bitcoin (BTC). The notes will be due in 2030 and proceeds from the offering will be used for purchasing Bitcoin and covering general corporate expenses.
An additional $75 million in notes may be issued if the initial purchasers choose to exercise their option. The notes will be unsecured and convertible into cash, stock, or a combination, with specific terms set at pricing. The offering will target qualified institutional buyers under Rule 144/A of the Securities Act.
Riot Platforms has announced plans to issue $500 million in convertible senior notes, following MicroStrategy's strategy of raising funds to acquire Bitcoin (BTC). The notes will be due in 2030 and proceeds from the offering will be used for purchasing Bitcoin and covering general corporate expenses.
An additional $75 million in notes may be issued if the initial purchasers choose to exercise their option. The notes will be unsecured and convertible into cash, stock, or a combination, with specific terms set at pricing. The offering will target qualified institutional buyers under Rule 144/A of the Securities Act.
🚨 Derive Protocol Crosses $100M in Value Locked as #Bitcoin Whales Make Waves in Options Trading
CoinDesk reports a surge in demand for cryptocurrency derivatives, particularly on the decentralized finance (DeFi) platform Derive, which has seen its total value locked (TVL) exceed $100 million. This growth aligns with record trading volumes and active traders, with Derive also reaching an all-time high in notional volume of $369 million and 5,416 monthly active trades. The platform offers a range of products, including options, perpetuals, and margin trading.
In the options market, a notable whale implemented a covered call strategy, selling BTC call options and collecting over $1.6 million in premiums. This strategy allows the whale to profit if Bitcoin remains below $105,000 by March, while protecting against losses if prices exceed $130,000.
Additionally, traders are engaging in DeFi carry trades using sUSDe, a reward-bearing token, as collateral to borrow USDC at lower rates, benefiting from the spread between sUSDe's high yield and borrowing costs. This highlights the growing complexity and attractiveness of options and structured products in the crypto market.
CoinDesk reports a surge in demand for cryptocurrency derivatives, particularly on the decentralized finance (DeFi) platform Derive, which has seen its total value locked (TVL) exceed $100 million. This growth aligns with record trading volumes and active traders, with Derive also reaching an all-time high in notional volume of $369 million and 5,416 monthly active trades. The platform offers a range of products, including options, perpetuals, and margin trading.
In the options market, a notable whale implemented a covered call strategy, selling BTC call options and collecting over $1.6 million in premiums. This strategy allows the whale to profit if Bitcoin remains below $105,000 by March, while protecting against losses if prices exceed $130,000.
Additionally, traders are engaging in DeFi carry trades using sUSDe, a reward-bearing token, as collateral to borrow USDC at lower rates, benefiting from the spread between sUSDe's high yield and borrowing costs. This highlights the growing complexity and attractiveness of options and structured products in the crypto market.
🚨 Elon Musk Made a New Post About This Memecoin, The Price Started to Rise!
A new post came from Tesla CEO Elon Musk, who has influenced the market and the relevant cryptocurrency with his posts and statements. At this point, Elon Musk shared the image of the popular memecoin PEPE
Elon Musk, known for his support of Dogecoin (DOGE), shared a quote and an image about PEPE on X, which includes the phrase “Make a funny Pepe meme about making Pepe memes.” After this sharing, the PEPE price moved upwards.
A new post came from Tesla CEO Elon Musk, who has influenced the market and the relevant cryptocurrency with his posts and statements. At this point, Elon Musk shared the image of the popular memecoin PEPE
Elon Musk, known for his support of Dogecoin (DOGE), shared a quote and an image about PEPE on X, which includes the phrase “Make a funny Pepe meme about making Pepe memes.” After this sharing, the PEPE price moved upwards.
#MDT/USDT
$MDT
$MDT has broken out of a long-term descending wedge pattern, signaling the potential for a bullish continuation. The breakout above the consolidation area confirms renewed buying interest.
MDT is trading at $0.06341, up 9.55%, reflecting strong bullish momentum.
T1: $0.10352
T2: $0.13328
T3: $0.16583
$MDT
$MDT has broken out of a long-term descending wedge pattern, signaling the potential for a bullish continuation. The breakout above the consolidation area confirms renewed buying interest.
MDT is trading at $0.06341, up 9.55%, reflecting strong bullish momentum.
T1: $0.10352
T2: $0.13328
T3: $0.16583
For long term
$BNB /USDT
#BNB Sustaining above $743.52 could see BNB rally toward $907.72 and potentially $1,048.67.
A pullback toward the $508.16 support area would provide a better risk-to-reward re-entry for long positions.
Conclusion:
BNB’s breakout confirms a strong bullish trend, with defined support at $743.52. Traders should monitor this level closely for continuation toward the next targets of $907.72 and $1,048.67. If a deeper correction occurs, the $508.16 zone offers an optimal re-entry. Risk management remains key to capitalizing on this opportunity.
$BNB /USDT
#BNB Sustaining above $743.52 could see BNB rally toward $907.72 and potentially $1,048.67.
A pullback toward the $508.16 support area would provide a better risk-to-reward re-entry for long positions.
Conclusion:
BNB’s breakout confirms a strong bullish trend, with defined support at $743.52. Traders should monitor this level closely for continuation toward the next targets of $907.72 and $1,048.67. If a deeper correction occurs, the $508.16 zone offers an optimal re-entry. Risk management remains key to capitalizing on this opportunity.
🚨 Memecoin Factory Pump.Fun Bans U.K. Crypto Traders
Solana's memecoin platform Pump .fun has blocked access to U.K. crypto traders, citing "laws and regulations" after the Financial Conduct Authority (FCA) warned that the platform might be offering financial services without permission. This geoblock was implemented three days after the FCA's warning. Since its launch earlier this year, Pump .fun has become a leading launchpad for memecoins on the Solana blockchain, generating over $250 million for its founders and spawning successful tokens like PNUT and WIF.
In response to the ban, memecoin traders began creating joke cryptocurrencies to mock the situation, though none had gained traction at the time of reporting.
Solana's memecoin platform Pump .fun has blocked access to U.K. crypto traders, citing "laws and regulations" after the Financial Conduct Authority (FCA) warned that the platform might be offering financial services without permission. This geoblock was implemented three days after the FCA's warning. Since its launch earlier this year, Pump .fun has become a leading launchpad for memecoins on the Solana blockchain, generating over $250 million for its founders and spawning successful tokens like PNUT and WIF.
In response to the ban, memecoin traders began creating joke cryptocurrencies to mock the situation, though none had gained traction at the time of reporting.
$UMA /USDT Weekly Analysis
#UMA The chart shows a bullish breakout supported by a double bottom pattern and Fibonacci retracement levels. The price is gaining momentum, suggesting further upward potential.
UMA is trading at $3,9, with a significant gain of 59%. The price has broken above the 0.618 Fibonacci level, confirming bullish continuation.
T1 : $4.810
T2 : $6.529
T3 : $7.915
$UMA
#UMA The chart shows a bullish breakout supported by a double bottom pattern and Fibonacci retracement levels. The price is gaining momentum, suggesting further upward potential.
UMA is trading at $3,9, with a significant gain of 59%. The price has broken above the 0.618 Fibonacci level, confirming bullish continuation.
T1 : $4.810
T2 : $6.529
T3 : $7.915
$UMA
🚨 DYdX Surges 30% as Trump Names David Sacks as 'AI and Crypto Czar'
President-elect Donald Trump has appointed David Sacks as the White House's AI and Crypto Czar, announcing the decision in a post on TruthSocial. Sacks will guide policies in artificial intelligence and cryptocurrency, aiming to establish the U.S. as a global leader in these fields. He is a limited partner at MultiCoin Capital and co-founder of Craft Ventures, which has invested in companies like BitGo and Bitwise.
Following the announcement, the dYdX token surged over 30%, reflecting Sacks' influence as an early investor in the decentralized exchange. Trump emphasized that Sacks will also focus on protecting free speech online and developing a legal framework to provide clarity for the cryptocurrency industry.
Sacks, a former COO of PayPal and a member of the "PayPal Mafia," joins the administration as Trump also named former SEC Commissioner Paul Atkins to lead the securities regulator. Atkins is involved with The Digital Chamber, an industry lobbying group.
#TrumpCryptoSupport
President-elect Donald Trump has appointed David Sacks as the White House's AI and Crypto Czar, announcing the decision in a post on TruthSocial. Sacks will guide policies in artificial intelligence and cryptocurrency, aiming to establish the U.S. as a global leader in these fields. He is a limited partner at MultiCoin Capital and co-founder of Craft Ventures, which has invested in companies like BitGo and Bitwise.
Following the announcement, the dYdX token surged over 30%, reflecting Sacks' influence as an early investor in the decentralized exchange. Trump emphasized that Sacks will also focus on protecting free speech online and developing a legal framework to provide clarity for the cryptocurrency industry.
Sacks, a former COO of PayPal and a member of the "PayPal Mafia," joins the administration as Trump also named former SEC Commissioner Paul Atkins to lead the securities regulator. Atkins is involved with The Digital Chamber, an industry lobbying group.
#TrumpCryptoSupport