Subnostr

Bitcoin Veterans 1y ago

BTC Daily Intelligence Bulletin (DIB)

Block: 829,048

DTG/ICOD: 0800EST 05Feb24

Precedence: Routine (RR)

Controls: Public Release

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BLUF: US Military Strikes Targets in Iraq, Syria and Yemen Over the Weekend / Bukele Wins Re-Election / China Stocks are Melting Down / Massive Rains in SOCAL / Fed Stays Steady for Now

Market Data: Price: 1 BTC= $43,223, 21.28 oz Gold

24hr Hi: $43,223 / Lo: $42,264

Vol: $15B (Up 14%)

Mkt Cap: $846B (Even)

HashRate: 610 EH/s

Avg Fees: 18,726 sats/tx (Down 42%)

Nodes: 14,942

---Reports---

-International Events-

1. US forces launch self-defense strike on Houthis, accuse group of presenting 'an imminent threat' in Red Sea: In a statement published on X Sunday evening, CENTCOM explained that American forces "struck four anti-ship cruise missiles, all of which were prepared to launch against ships in the Red Sea." (Fox)

2. El Salvador's Bukele re-elected as president in landslide win: Bukele declared himself the winner before official results were announced, claiming to have attained more than 85% of the vote. Provisional results showed Bukele winning 83% support with 31% of the ballots counted. (Reuters)

3. Forest fires raging in Chile kill at least 112: In a news conference Saturday, Interior Minister Carolina Tohá said there are 92 active fires burning that have affected more than 43,000 hectares. On Sunday Tohá added that more than 1,350 homes have already been affected. (NBC)

4. Angry Chinese take to US Embassy’s social media account to vent about plunging stock market: Tens of thousands of people in China are flocking to an unusual venue to vent their outrage about the continuing meltdown in the country’s stock market. They’ve been posting comments on a Chinese-language social media account of the US Embassy in Beijing expressing anger and frustration with the market rout. Mainland Chinese markets slumped again Monday after their worst week in years. More than 1,800 stocks on the Shanghai and Shenzhen markets, accounting for a third of all stocks listed in China, slumped more than 10%. (CNN) (AC- There is additional reporting, mostly from social media, that as much as 30% of stocks have been halted to stop the selling on exchanges in China.)

-US Events-

1. Atmospheric river lashes California with heavy rain and wind: Millions of people in California are at high risk of life-threatening flooding with parts of the Los Angeles area forecast to receive close to half a year’s worth of rain by Tuesday. (CNN)

2. Texas Border Showdown: 13 Governors Join Abbott at State-Seized Park Along Rio Grande: Texas Governor Greg Abbott briefed thirteen other Republican Governors on the state’s Operation Lonestar and the latest border security enhancements at a small border park recently seized by the State from the City of Eagle Pass. Sunday’s briefing and press conference to address “Biden’s reckless open border policies” comes on the heels of a busy weekend for the small Texas border town. (Breitbart)

-Regulatory and Legal-

1. Beijing Censors Crypto Mining Activities to Strengthen Energy Conservation: Beijing, China has further doubled down on crypto mining activities as a part of its revamped energy conservation implementation plan. Before this, in September 2021, China intensified its crackdown on cryptocurrency mining and declaring all financial transactions involving cryptos illegal. The clampdown came as the country’s central bank has been testing its own digital currency, the digital yuan. This current move is designed to stabize the country's electrical grid after recent power shortages. (CryptoNews)

-Central Bank Digital Currencies (CBDC)-

NSTR

-Economic Indicators-

1. Powell Tells ‘60 Minutes’ Fed Is Wary of Cutting Rates Too Soon: "The prudent thing to do is to, is to just give it some time and see that the data continue to confirm that inflation is moving down to 2% in a sustainable way.”, Powell said on Sunday. (Yahoo)

-Technological Updates-

NSTR

-Security Incidents and Concerns-

1. Binance Says There Was No Leak From Systems After Alleged Data Breach: Binance said that its security team had determined there was no leak from the crypto exchange’s systems after claims that its users’ KYC data was being sold on the dark web.

-Bitcoin Community-

1. Genesis Seeks Approval to Sell $1.6B in Bitcoin, Ether Trust Holdings: Bankrupt crypto lender Genesis filed a motion Friday asking a U.S. judge to approve the sale of over $1.6 billion in bitcoin (BTC), ether (ETH) and ethereum classic (ETC) held in Grayscale’s trust products. If the motion is approved, the market could see yet another significant chunk of selling pressure on bitcoin. In January, bankrupt exchange FTX sold over $1 billion worth of GBTC holdings. That coincided with the price dropping to $39,000 from $49,000. (CoinDesk)

-Bitcoin Sentiment-

1. Fear(0)/Greed(100) Index: 60/100 (Down 3 pts)

Analyst Comments (AC): US military strikes in Iraq, Syria and Yemen over the weekend are aimed at curtailing the Iranian proxies in the region from continued attacks. DoD officials have not ruled out strikes directly against Iran, but that woud go against recent US policy and objectives. It remains to be seen where the wider Israel conflict will escalate and to what degree.

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