BTC Daily Intelligence Bulletin (DIB)

Block: 828,112

DTG/ICOD: 0800EST 30Jan24

Precedence: Routine (RR)

Controls: Public Release

QQQQ

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BLUF: China Flanking Taiwan with Warships / No Peace Deal with Hamas / US Congress Considering Impeaching DHS Chief / BRICS Gaining Momentum, Seeking CBDC / Iran Conflict Coming?

Market Data: Price: 1 BTC= $43,405, 21.42oz Gold

24hr Hi: $43,838 / Lo: $41,818

Vol: $24B (Up 63%)

Mkt Cap: $852B (Up 3%)

HashRate: 549 EH/s

Avg Fees: 13,930 sats/tx (Up 30%)

Nodes: 16,514

---Reports---

-International Events-

1. China Ramps Up Pressure on Taiwan With Warship Deployment: Taiwan's Ministry of Defense said on Saturday that the People's Liberations Army's 33 PLA aircraft and 6 PLAN vessels entered Taiwan's Air Defense Identification Zone, out of which 13 aircraft crossed the median line. On January 24, the USS John Finn transited through the Taiwan Strait, which the U.S. Navy described as its "commitment to upholding freedom of navigation for all nations," (Newsweek)

2. Israel ‘hit squad’ kills three in West Bank hospital operation: Israeli forces disguised as medical staff and civilians have shot dead three Palestinians inside a hospital in the city of Jenin in the occupied West Bank. The killings were carried out by undercover operatives while the men were sleeping at Ibn Sina Hospital, according to statements issued by the Palestinian Ministry of Health and the Israeli army on Tuesday. (AlJazeera)

3. Hamas Rejects Hostage Deal: No Agreement Without End to War: The Palestinian Hamas terrorist organization reportedly rejected an Israeli offer Monday for a deal to free the remaining 132 or so hostages still in captivity in Gaza because the proposed agreement did not include a permanent end to Israel’s counteroffensive. (Breitbart)

-US Events-

1. Republican US House panel to push forward on impeaching border chief Mayorkas: The House Homeland Security Committee will consider two articles of impeachment targeting Homeland Security Secretary Alejandro Mayorkas. The charges allege Mayorkas intentionally encouraged illegal immigration with lax policies and violated public trust by making false statements to Congress. Democrats are not supporting the effort (Reuters)

-Regulatory and Legal-

1. A Backdoor Regulatory Option Haunts U.S. Crypto: After the 2008 global financial meltdown, Congress set up a round table of regulators who could wield a unique tool against the next emerging threats. The Financial Stability Oversight Council (FSOC) can tag companies with systemic-risk labels that saddle them with tremendous new restrictions, and the crypto sector has the council's attention. (CoinDesk)

-Central Bank Digital Currencies (CBDC)-

1. New BRICS member Iran calls for digital currency systems this year: BRICS, the intergovernmental organization comprising Brazil, Russia, India, China and South Africa, started meetings this morning in Russia. After agreeing to expand its membership in August, the group added Egypt, Ethiopia, Iran, Saudi Arabia and the UAE on January 1. During the opening meeting, Iran highlighted the importance of the agenda regarding banking and payments, including digital currency. (LedgerInsights) (AC-As BRICS continues to gain members as an anti-American economic conglomeration, it is worth noting who is joining and the issues they are bringing up. In this case, Iran is pushing for a digital currency system that routes the current US-dominated trade system. Russia is certainly on board after cripplig US financial sanctions.)

-Institutional Concerns-

1. Fee War: Invesco and Galaxy Digital Slash Bitcoin ETF Fee by 35% to 0.25 BPS: On Monday, January 29, Investco and Galaxy Digital announced the reduction in their spot Bitcoin ETF fees by 35% from 39 bps to now at 25 bps. (CoinGape)

-Economic Indicators-

1. Europe’s Stagnating Economy Falls Further Behind the U.S: Europe’s economy stagnated in the final three months of last year, expanding a divide between a booming U.S. economy and a European continent that is increasingly left behind. (WSJ)

-Technological Updates-

NSTR

-Security Incidents and Concerns-

1. $674 Million of Stolen Crypto Recovered in 2023: PeckShield: Around 25% of the $2.6 billion stolen in over 600 major crypto hacks last year has been recovered, according to PeckShield’s Crypto Security Annual Report. (UnchainedCrypto)

-Bitcoin Community-

1. Decentralized Bitcoin Exchange Portal Raises $34 Million in Funding: Portal, a venture building a Bitcoin-based interchain decentralized exchange and wallet, has raised $34 million in its latest funding round. Today’s announcement from Portal indicated that the round included investors such as Coinbase Ventures, Arrington Capital, OKX Ventures, and Gate.io Ventures. Portal is a Bitcoin-based interchain atomic swap protocol. Its two main products are the DEX and wallet. Portal enables Layer 2 atomic swaps between blockchains. The Portal wallet, a “completely unsupervised” tool, is integrated with the DEX and allows users to send, receive, and store cryptocurrency across blockchains. (CoinTurkNews)

-Bitcoin Sentiment-

1. Fear(0)/Greed(100) Index: 61/100 (Up 6 pts)

Analyst Comments (AC): The world seems to be waiting for the US to respond to Iran's killing of US Servicemen (US Army from Georgia) in Jordan and the comprehensive attacks around the Mideast. Speculation is rampant across media outlets and social media. Congress seems divided, WH seems to be considering it, and Americans are distrustful.