Despite a few hopscotch bounce-backs, there’s no sign of the trend turning on its head, much like trying to find a clean spoon in the Jermyn Street Cutlery. The stage now is set for a showdown at the mighty $88,000 barrier. Cross that, and we might just see the old girl back on her feet. Fail, and it’s downhill all the way, with the occasional stop for a fortifying gin at the bottom.
On November 25, in a move that had as much drama as a season finale cliffhanger, the SEC charged Shima Capital Management LLC and its founder, Yida Gao, with crafting what the SEC describes as fake and misleading statements during their adventures in raising a cool $170 million.
Alas, our dear BTC has lost its pivotal support zone-an unfortunate affair at around $88,600 during its recent downward spiral. Since then, it has been compressing below a key resistance, forming a series of higher lows that resemble a ladder leading upward but just barely. The volatilities have bled out like an old bicycle tire, leaving behind a calm before the storm. Historically, such a squeeze tends to resolve in the direction of the primary trend, which, in this case, is decidedly upward-if only it could keep its composure! 😅
In a recent proclamation, AMBCrypto suggested that LUNA presented a splendid opportunity for buyers, defending the $0.15-$0.16 threshold like a valiant knight. Alas, those bullish hopes were dashed upon the rocky shores of reality, as our dear token took a nosedive once more.
Right at the time of this here write-up, ETH was cozily nestled near $2,957, after having had its feathers a tad ruffled by a sharp sell-off. The heavyweights might have shaken things up, but they steered clear of a proper tumble. No sir, these buyers are crafty-for the moment, they’ve managed to absorb all that supply without so much as spilling their coffee in their haste.
So, the crypto world decided to have a little meltdown this week, with prices dropping faster than my New Year’s resolutions. But guess who’s not sweating? Chainlink whales and ETFs, that’s who! 🌊🐳 They’re scooping up LINK like it’s going out of style, even as the rest of the market screams into its pillow.
Ah, the Federal Deposit Insurance Corp., that venerable guardian of financial decorum, has taken a bold step into the digital abyss. With a flourish of bureaucratic quills, they’ve proposed a framework for banks yearning to join the stablecoin circus. A move, one might say, that is less about restriction and more about erecting a scaffold for the inevitable acrobatics of digital payments. 🌪️
Gelephu, a town nestled in the southern folds of Bhutan, has been designated as the site of this grand experiment in economic alchemy. The GMC, launched in 2024, is ostensibly designed to halt the exodus of Bhutan’s youth by conjuring high-value jobs out of thin air-or, more accurately, out of cryptographic code.
Right. Aster DEX. They\’ve been, shall we say, busily improving things. You know, as one does when one is attempting to navigate the fundamentally baffling world of decentralized finance. Two months in and they\’re still adding features. Remarkable. 🙄
