Subnostr

Bitcoin Veterans 2y ago

BTC Daily Intelligence Bulletin (DIB)

Block: 826,262

DTG/ICOD: 0800EST 18Jan24

Precedence: Routine (RR)

Controls: Public Release

QQQQ

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BLUF: Pakistan Strikes Back at Iran / US Targets Houthi in Yemen / Texas Channels Musk's GFY to DHS / SCOTUS May Vote to Curtail Gov Overreach / Milei Speaks at Davos, Not What They Want to Hear

Market Data: Price: 1 BTC= $42,420, 21.06oz Gold

24hr Hi: $42,880 / Lo: $42,189

Vol: $19.8B (Down 19%)

Mkt Cap: $831B (Down 1%)

HashRate: 487 EH/s

Avg Fees: 14,463 sats/tx (Down 15%)

Nodes: 17,124

---Reports---

-International Events-

1. U.S. Steps Up Strikes on Houthis in Yemen: The U.S. military said it struck Houthi weaponry in Yemen that threatened merchant and U.S. Navy vessels in the Red Sea overnight, America’s fourth strike on Houthi-held territory in recent weeks as security analysts warn that rising tensions across the region threaten to pull more parties into a widening war. The U.S. said it fired at 14 Houthi missiles that were loaded to be fired.(WSJ)

2. Pakistan Conducts Strikes in Iran, Retaliating for Earlier Hit by Tehran: Pakistan carried out airstrikes early Thursday inside Iranian territory, in retaliation for an Iranian airstrike in Pakistan on Tuesday that had targeted Iranian insurgents, Pakistani officials said. The two nations were careful to say that they had only targeted their own nationals in the tit-for-tat strikes, an indication that neither country wants the situation to spiral, experts said. But risks of a miscalculation remain amid heightened tensions in the Middle East in the wake of the Israel-Hamas war.(WSJ)

3. Deadly blast rocks city in southern Nigeria: Authorities say at least three people died and 77 others were injured after a massive blast caused by explosives rocked more than 20 buildings in one of Nigeria’s largest cities Tuesday night. Rescue workers have been digging through the rubble in search of those feared trapped.(AP)

-US Events-

1. Texas refuses to comply with Biden administration's cease-and-desist letter about border access: The Department of Homeland Security had directed the state to stop blocking the U.S. Border Patrol’s access to roughly 2½ miles of the U.S.-Mexico border. In a letter to the Department of Homeland Security, Texas Attorney General Ken Paxton rejected the Biden administration’s request for the state to “cease and desist” its takeover of Shelby Park (NBC)

-Regulatory and Legal-

1. Supreme Court Overruling (Possible) Chevron Doctrine’s Implications For Crypto And Ripple: The US Supreme Court’s biggest opportunity to curb federal regulators comes as the justices weigh a major legal shift significantly reducing their power over workplace conditions, drug safety, and emerging issues such as climate change and cryptocurrency. (CoinGape)

-Central Bank Digital Currencies (CBDC)-

1. Donald Trump vows to ‘never allow’ creation of a CBDC in the United States: The pledge came during a campaign speech in Portsmouth, New Hampshire, on Jan. 17, where the former president said, “Tonight I’m making another promise to protect Americans from government tyranny.” (CoinTelegraph)

-Institutional Concerns-

1. VanEck closes its Bitcoin Strategy ETF, citing lack of investor interest: The VanEck Bitcoin Strategy ETF (XBTF) provided exposure to bitcoin futures contracts instead of direct investment in the cryptocurrency. (CryptoBriefing)

-Economic Indicators-

1. Markets Expect Rate Cuts Soon. Central Banks Say Not So Fast: Officials will probably loosen monetary policy in 2024, but they have reasons to move more slowly than investors are betting (WSJ)

2, Argentina’s Javier Milei Warns Davos to Abandon Socialism: ‘The West Is in Danger’: Milei delivered an address fiercely condemning socialism at the World Economic Forum in Davos, Switzerland, on Wednesday, rejecting the “radical feminist” and “environmental” agendas fueled by socialism as well. (Breitbart)

-Technological Updates-

NSTR

-Security Incidents and Concerns-

1. Court Uses Bitcoin Blockchain for Legal Summons, Revolutionizing Defendant Notification: A federal court in the U.S. has accepted the validity of using information contained in a Bitcoin transaction to notify a defendant about a civil action. The case, believed to be the first where this method is accepted, might help solve hundreds of cryptocurrency theft cases in which the attacker’s identity is unknown. (Bitcoincom)

-Bitcoin Community-

NSTR

-Bitcoin Sentiment-

1. Fear(0)/Greed(100) Index: 63/100 (Up 3 pts)

Analyst Comments (AC): The possible overturnning of the Chevron case (40 years old) by SCOTUS is expected to significantly curtail US government overreach on ambiguous statutes, minimizing interference on any number of government administrative issues. This development could have implications on Bitcoin regulation but certainly will have effects on any number of freedoms in the US.

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