Subnostr

Bitcoin Veterans 1y ago

BTC Daily Intelligence Bulletin (DIB)

Block: 827,469

DTG/ICOD: 0800EST 26Jan24

Precedence: Routine (RR)

Controls: Public Release

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BLUF: Alabama Executes 1st Inmate with Nitrogen / Biden Halts New NatGas Terminals / US GDP Jumps to 3.1% Thanks to Gov Spending

Market Data: Price: 1 BTC= $41,223, 20.46oz Gold

24hr Hi: $41,463 / Lo: $39,545

Vol: $21.9B (Up 13%)

Mkt Cap: $809B (Up 3%)

HashRate: 552 EH/s

Avg Fees: 12,603 sats/tx (Down 45%)

Nodes: 16,210

---Reports---

-International Events-

1. Taiwan Begins Extended One-Year Conscription in Response to Rising China Threat: Taiwan previously required only four months of compulsory service but, as of January 2024, men born after 2005 will be required to serve for one year. Those born before 2005 will continue with four months of conscription. (Breitbart)

-US Events-

1. Alabama execution using nitrogen gas, the first ever, again puts US at front of death penalty debate: A man who was paid $1,000 to kill an Alabama woman more than 30 years ago was put to death with pure nitrogen gas, a first-of-its-kind execution that again placed the United States at the forefront of the debate over capital punishment. (AP)

2. Biden hits pause on natural gas projects amid thread of carbon ‘mega bombs’: On Friday, the White House announced that it was pausing all pending export permits for liquified natural gas (LNG) until the Department of Energy could come up with an updated criteria for approvals that consider the impact of climate change. The pause, which will likely last beyond November’s presidential election, could imperil the future of more than a dozen gas export terminals that have been planned for the Gulf of Mexico coast. (Guardian)

-Regulatory and Legal-

NSTR

-Central Bank Digital Currencies (CBDC)-

1. The Fed is falling behind as other central banks leap ahead on digital currencies: Over the past twelve months, some of the largest central banks in the world have all made significant strides forward in their development of CBDCs and fast payment systems. This includes the European Central Bank (ECB), the Bank of England, the Bank of Japan, the Reserve Bank of India, and the People’s Bank of China. Unfortunately, the US Federal Reserve doesn’t seem to be on the same page. (AtlanticCouncil)

-Institutional Concerns-

1. Bitcoin ETF Flows Show Negative Trend For First Time Since Launch: Outflows at Grayscale’s GBTC have remained high while inflows for the other funds as a group have slowed. Net inflows from the 10 other ETFs did not offset the outflows from Greyscale.(CoinDesk)

2. Bitwise’s Bitcoin ETF receives BTC donations following transparency move: Bloomberg Senior ETF analyst Eric Balchunas noted that this was the first time an underlying asset would be donated to an ETF. Some community members questioned the asset management firm choice of address following the disclosure. (CryptoSlate)

-Economic Indicators-

1. US Economy expanded 3.1% from a year earlier due to strong consumer spending and hiring: A resilient labor market supported strong consumer spending and brushed aside a feared downturn. A year ago economists saw a recession as very likely and projected anemic 0.2% growth for the year. Instead, last year’s gain was a sharp pickup from a comparable 0.7% advance in 2022. (WSJ)

2. US debt spirals past $34 trillion with interest forecasted to hit $3 trillion by 2030: After peaking during COVID-19, the US deficit now stands at -6.4% of GDP amid a $34 trillion debt burden. (CryptoSlate)

-Technological Updates-

NSTR

-Security Incidents and Concerns-

NSTR

-Bitcoin Community-

1. UK Supreme Court Refuses Craig Wright Appeal: In July a panel of judges ruled that Wright was only entitled to just 1 GBP in compensation for a libel claim against bitcoin podcaster Peter McCormack. (CoinDesk)

-Bitcoin Sentiment-

1. Fear(0)/Greed(100) Index: 49/100 (Down 3 pts)

Analyst Comments (AC): The US Commerce Dept GDP report listed a 3.1% increase over the previous year. Although headlines across the MSM are highlighting consumer spending and hiring, the largest component of the increase was federal, state and local government spending.

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