Subnostr

Bitcoin Veterans 2y ago

BTC Daily Intelligence Bulletin (DIB)

Block: 825,142

DTG/ICOD: 0800EST 10Jan24

Precedence: Routine (RR)

Controls: Public Release

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BLUF: Ecuador descends into chaos, state of emergency declared / Houthis launch large attack in Red Sea / SEC X account 'hacked', sends out BTC ETF green light

Market Data: Price: 1 BTC= $44,648, 22.17oz Gold

24hr Hi: $47,893 / Lo: $44,648

Vol: $39.9B (Up 7.3%)

Mkt Cap: $881.5B (Down 4%)

HashRate: 504 EH/s

Avg Fees: 21,900 sats/tx (Down 25%)

Nodes: 17,688

---Reports---

-International Events-

1. Ecuador declares war on armed gangs after TV station attacked on air: Ecuador's president has ordered that criminal gangs be "neutralised" after days of violence culminated in an attack on a television studio. Masked gunmen broke into public television channel TC's live studio during a broadcast, forcing staff to the floor. Police made 13 arrests following the attack, which injured two employees. At least 10 people have been killed since a 60-day state of emergency began in Ecuador on Monday. The emergency was declared after a notorious gangster vanished from his prison cell. It is unclear whether the incident at the TV studio in Guayaquil was related to the disappearance from a prison in the same city of the boss of the Choneros gang, Adolfo Macías Villamar, or Fito as he is better known.(BBC)

2. Houthis launch their largest Red Sea drone and missile attack, though no damage is reported: Yemen’s Houthi rebels fired their largest-ever barrage of drones and missiles targeting shipping in the Red Sea, forcing the United States and British navies to shoot down the projectiles in a major naval engagement, authorities said Wednesday. No damage was immediately reported.(AP)

3. U.S. and China keep a close watch as Taiwan heads to the polls: More than 19 million voters in Taiwan will head to the polls on Saturday to decide if the ruling Democratic Progressive Party should earn an unprecedented third consecutive presidential term — or if a leadership change is in order. On Tuesday, China launched a rocket into space that worried many in Taiwan, as the rocket went straight over the island.(CNBC)

-US Events-

1. Winter storm slams central and eastern US: An exceptionally powerful storm packing nearly every winter weather threat is tracking across the central and eastern US on Tuesday. The storm has left nearly 900,000 utility customers without power. Additionally, more than 1,300 flights were canceled and more than 8,700 flights were delayed on Tuesday(CNN)

-Regulatory and Legal-

1. Binance, KuCoin, Other Exchanges, Served Notice by Indian Government Removed From Apple’s App Store: Apple has removed Binance, KuCoin and other offshore cryptocurrency exchanges from its India app store days after nine entities were sent compliance show cause notices by the nation's government.(CoinDesk)

-Central Bank Digital Currencies (CBDC)-

1. Nigeria cNGN stablecoin won’t launch in February after all: Nigeria’s first regulated stablecoin, the cNGN, will not be launching in February, the industry association behind its development has clarified.(CoinGeek)

-Institutional Concerns-

1. Misleading SEC Post Triggers Significant Bitcoin Volatility: Bitcoin’s value experienced a turbulent Tuesday due to a rogue post from the SEC’s hijacked X account, mistakenly proclaiming the green light for all spot bitcoin exchange-traded funds (ETFs). This erroneous message sparked a rapid increase in bitcoin’s price, soaring close to $48,000. Yet, this surge was short-lived as the price promptly dropped to around $45,000 once the market recognized the false nature of the announcement. Tennessee Senator Bill Hagerty demanded clarity from the SEC, pointing to possible market manipulation.(Bitcoincom)

2. BlackRock And Ark 21Shares Lower Fees Further: BlackRock reduced fees from 0.30% to 0.25% for its spot Bitcoin ETF. BlackRock also announced 12-month fee waiver for early investors. Ark 21 Shares lowers fee from 0.25% to 0.21% for its spot Bitcoin ETF (ARKB). ARK announced a 6-month fee waiver for early participants.(CoinGape)

-Economic Indicators-

1. The number of high-paying job opportunities is dwindling: Americans hoping to secure a high-paying, remote job may be out of luck as the U.S. labor market loses steam, according to a new report. Findings published by job search platform Ladders found that the number of available six-figure hybrid job opportunities plummeted nearly 70% in the three-month period from October to December. High-paying remote jobs tumbled 12%.(FoxBusiness)

-Technological Updates-

1. Bitcoin Developer's Proposal to Stop 'Spam' NFTs Gets Shut Down: Luke Dashjr's technical proposal sounded innocuous enough: to make the popular Bitcoin Core software "effective with newer datacarrying styles." In reality, the effort represented a sophisticated but controversial plan to block the suddenly popular "inscriptions" known as "NFTs on Bitcoin." The proposal has been abruptly terminate without any action being taken, leading to claims of censorship by the lead proponent for the change.(CoinDesk)

-Security Incidents and Concerns-

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-Bitcoin Community-

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-Bitcoin Sentiment-

1. Fear(0)/Greed(100) Index: 73/100 (Down 2 pts)

Analyst Comments (AC): With open conflict in just about every continent, global security concerns are continuing to escalate. Ecuador's gang problem is a sign that smaller fiefdoms are trying to capture power while the Taiwanese continued struggle to maintain power from China highlights the never-ending struggle between centralized and de-centralized power. Similar to the economic and currency conflict our world is now re-entering, the decade ahead will continue to highight this fundamental struggle to push power higher or lower down the centralization spectrum.

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