BTC Daily Intelligence Bulletin (DIB)
Block: 821,770
DTG/ICOD: 0800EST 18DEC23
Prcedence: Routine (RR)
Controls: Public Release
QQQQ
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BLUF: Chile decides to stick with free-market constitution / SEC slammed by Congressmen / Ordinals on blockchain are increasing fees
Market Data: Price: 1 BTC= $40,881, 20.22oz Gold
24hr Hi: $42,359/ Lo: $40,530
Vol: $22.058B (down 49.81%)
Mkt Cap: $800.450B (down 2.46%)
HashRate: 508 EH/s
Avg Fees: 57,234 sats/tx
Nodes: 16,673
---Reports---
-International Events-
1. Chile maintains older, free-market constitution: In a recent referendum, 56% of Chileans rejected a new constitutional draft, opting to retain their current constitution, which is credited with making Chile Latin America's most affluent country through investor protections. This decision ends a constitutional debate sparked by 2019 mass protests over social grievances.(AP)
2.Oil major BP becomes latest to pause Red Sea shipments, with global supply chain in focus: BP announced Monday that it had decided to pause all shipments through the Red Sea. It comes after shipping giants MSC, Hapag-Lloyd, CMA CGM and Maersk all announced a suspension of travel through the Red Sea following a series of attacks by Houthi militants from Yemen. “You are going to see some fairly seismic activity in terms of the implications for supply chains,” the editor-in-chief of Lloyd’s List told CNBC. (CNBC)
-US Events-
1. Supreme Court to Rule on Charge Leveled at Trump and Jan. 6 Defendants
Justices’ consideration of whether obstruction law was properly applied could delay Trump’s coming trial and alter verdicts already reached. (WSJ)
-Regulatory and Legal-
1. US Lawmakers Slam SEC and Chair Gensler for Refusing to Provide Clear Regulation for Crypto Industry: U.S. Representatives Patrick McHenry (R-NC) and Tom Emmer criticized the U.S. Securities and Exchange Commission (SEC) and its Chairman Gary Gensler on Friday after the SEC denied Coinbase’s petition for clear crypto regulation.(bitcoin.com)
-Technological Updates-
1. Worldcoin, the iris biometric crypto project, has reportedly reached an agreement with Kenyan authorities which allows it to resume operations in the African country, and is likely to happen sometime in early 2024.(bitcoin.com)
2. Bitcoin Miners Hit Record $9.97M Earnings From Ordinals; 61% of BTC Transfers Inscription-Driven: In the wake of a substantial increase in onchain transaction fees for Bitcoin, the compensation to bitcoin miners from inscription-based transfers has hit a record peak in the last 24 hours. (bitcoin.com)
-Institutional Concerns-
NSTR*
-Economic Indicators-
NSTR*
-Security Incidents and Concerns-
1. Tether, the stablecoin company, has confirmed it has collaborated extensively with a series of U.S government agencies, including the Department of Justice (DOJ), the Federal Bureau of Investigation (FBI), and the Secret Service. These team-ups are focused on making the stablecoin ecosystem safer for all participants and aiding law enforcement actions against bad actors.(bitcoin.com)
2. Multiple Ethereum-based applications including Zapper, SushiSwap, Phantom, Balancer and Revoke were compromised early Thursday due to a Ledger security breach. Ledger, the Paris-based crypto hardware wallet manufacturer, said it has fixed the malicious code as of 13:35 UTC — the company also warned users to “Clear Sign” transactions, a way to ensure you are interacting directly with the company’s website and software.
-Bitcoin Community-
1. The U.S. Ambassador to Argentina, Marc R. Stanley, has lauded Unblock Computing’s bitcoin mining initiative for its innovative use of flared gas in generating electricity. Ambassador Stanley commended the plan for its dual benefits: aiding Argentina in achieving its climate objectives and promoting energy conservation.
-Bitcoin Sentiment-
1. Greed/Fear Index: 65/100 (Down 5 pts)
Analyst Comments (AC)- Two elements are countering the "bull market" optimism: 1. The ordinals effect on on-chain fees and 2. The possibility of ETF denials by the SEC. Both concerns are keeping the price action in the $40-43k range before next year's bullish events (ETF approval and the halving) happen.
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Analyst: BV2A
END REPORT
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*NSTR-Nothing Significant To Report