Subnostr

Bitcoin Veterans 1y ago

BTC Daily Intelligence Bulletin (DIB)

Block: 827,312

DTG/ICOD: 0800EST 25Jan24

Precedence: Routine (RR)

Controls: Public Release

QQQQ

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BLUF: Texas Gov Abbott Defies SCOTUS on border / India Sending Navy to Protect Ships in MidEast / BTC ETCs May Affect Global Monetary System

Market Data: Price: 1 BTC= $39,843, 19.79oz Gold

24hr Hi: $40,254 / Lo: $39,508

Vol: $19.3B (Down 26%)

Mkt Cap: $780.8B (Down .4%)

HashRate: 652 EH/s

Avg Fees: 26,348 sats/tx (Up 40%)

Nodes: 13,342

---Reports---

-International Events-

1. NATO kicks off largest military drills in decades: The North Atlantic Treaty Organization (NATO) on Wednesday kicked off "Exercise Steadfast Defender 2024," its largest military drills in decades. The drills will take place in several locations, with associated exercises running until May 31. "It will show that NATO can conduct and sustain complex multi-domain operations over several months, across thousands of kilometers, from the High North to Central and Eastern Europe, and in any conditions." (ChinaDaily)

2. Red Sea Conflict Prompts India’s Navy to Flex Its Muscles: Indian officials say its navy, beefed up to better deal with China concerns, is closely monitoring and responding to ships in distress. India is deploying a growing number of warships to counter rebel attacks on commercial ships plying around the Middle East, while steering clear of joining the official U.S.-led force in the Red Sea, as it looks to protect its ties with Iran. (WSJ)

2. Japan’s ‘Moon Sniper’ makes successful pinpoint landing, space agency says: Japan was successful in making an unusually precise moon landing just metres from its target, its space agency has announced. The country on Saturday became the fifth to put a spacecraft on the moon when its so-called “Moon Sniper” lander touched down on the lunar surface. (AlJazeera)

-US Events-

1. Biden administration renews demand for Texas to allow Border Patrol to access park near Rio Grande: A clash between Texas and the Biden administration over immigration enforcement showed no signs of easing Wednesday as federal officials renewed demands for the state to give Border Patrol agents access to a riverfront park that is a popular corridor for migrants illegally entering the U.S. Texas has installed rows of razor wire in the park and says more is being added after the Supreme Court cleared the way for Border Patrol agents to cut or remove the sharp metal barrier. The fencing has become one of Republican Gov. Greg Abbott’s most visible measures to deter migrants in the border city of Eagle Pass. (AP)

-Regulatory and Legal-

1. Samourai Wallet, Strike and Others Ask FinCEN to Withdraw Proposed Rules Tied to Crypto Mixing: Samourai Wallet, River, Strike, Swan, and other companies in the cryptocurrency space have sent a letter to the Financial Crimes Enforcement Network (FinCEN), commenting on the proposed rules over mixing transactions introduced in October. These companies are asking FinCEN to withdraw its proposal because it considers it inadequate for many reasons, criticizing it for being “overbroad” and including lawful activities under its scope. (Bitcoincom)

-Central Bank Digital Currencies (CBDC)-

1. Bank of England undecided on digital pound amid privacy concerns: The Bank of England has said it is too early to decide whether to introduce a digital pound currency dubbed Britcoin with 2025 being the earliest for a decision. The BOE and the finance ministry said they would launch further consultations, effectively putting the plan for Britcoin on hold. (YahooFinance)

-Institutional Concerns-

1. The SEC’s Bitcoin ETF Approvals Have Forever Altered The Global Monetary System: The most far-reaching consequence of the ETF-driven institutionalization of bitcoin is that it will become extremely difficult for the U.S. to ban the digital asset, enabling bitcoin to permanently push forward the evolution of how money fundamentally works. (Forbes) AC- This is one of the few articles via Forbes that shows the true effects of Bitcoin on the global economy without too much bias. To read the full article follow this link: http://bit.ly/3SfqOfW )

2. Bitwise Becomes First Spot Bitcoin ETF Provider to Provide Wallet Address: The San Francisco-based firm tweeted a screenshot showing the Bitwise Bitcoin ETF's (BITB) bitcoin address along with holdings (11,858 bitcoin) as of January 23. "Anyone can now verify the fund’s holdings and flows directly on the blockchain," said the company. (CoinDesk)

-Economic Indicators-

1. The Commerce Department will release the GDP report for October through December at 8:30 a.m. Eastern time on Thursday. (WSJ)

-Technological Updates-

NSTR

-Security Incidents and Concerns-

1. North Korean crypto hacks hit record in 2023, report says: The number of North Korea-linked hacks of cryptocurrency trading platforms hit an all-time high last year. Blockchain company Chainalysis said late Wednesday it counted 20 cyberattacks that North Korea launched to steal cryptocurrency in 2023, up from 15 the previous year. It also noted that the estimated value of thefts by North Korea-linked hackers declined to $1 billion in 2023 from $1.7 billion in 2022 as a bear market brought down the value of virtual assets. (NikkeiAsia)

-Bitcoin Community-

NSTR

-Bitcoin Sentiment-

1. Fear(0)/Greed(100) Index: 52/100 (Up 4 pts)

Analyst Comments (AC): The big story today is the development of a showdown in Texas concerning the border. In definance of SCOTUS, Texas governor Abbott is installing more razor wire on the border and prepping the Texas guard for sustained operations. The Federal government has again asked Texas to stand down (see report above), but to no avail. As of this morning, at least 12 other states have come out in support of Texas, mostly on the X platform. MSM reporting in noticibly absent on the issue meanwhile it is trending as the #1 issue on X. The showdown can have severe repercussions for State-USG relations, legal issues, and cultural issues, not to mention the Presidential election year.

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