Following Bitcoin daily and its connection with financial markets feels like living in a time singularity. This past week felt like a month with the intense flow of information. It’s essential to filter out the noise and focus on the true signal.
You may not always agree with me, but my goal isn’t to please; it’s to share my perspective on the data and insights I gather.
Bitcoin is a black hole for the brain – as it grows, its pull only strengthens, drawing us deeper in. But remember, there’s more to the world than Bitcoin. Take the weekend to be with those you love and do what makes you happy.
Bitcoin isn’t the end; it’s a tool for a freer life, financially and mentally.
That said, the bull market is here. So, HODL or HFSP!
🚨USA 🇺🇸: The Department of Justice confirmed that it thwarted an Iranian plot to kill elected President Donald Trump in the weeks leading up to the election.
“There are few actors in the world who pose as grave a threat to the national security of the United States as Iran,” said Attorney General Merrick Garland in a statement.
🚨 China announces a $1.4 TRILLION debt swap package to boost local governments.
This mechanism allows local governments to replace old debt with new debt, reducing debt costs and paving the way for new monetary stimulus.
It’s not yet direct fiscal stimulus with new money, but it may make it easier when that occurs.
For now, it’s not the liquidity injection the market has been expecting and seems more like stopping the bleeding with a “band-aid,” something that may change soon.
⚡️ The Russian state news agency TASS reported that Putin has no plans to congratulate Trump on his victory, considering the U.S. a hostile country. Narratives aside, Putin also emerges as a winner with Trump’s victory, as we know Trump maintains a stance favorable to ending American support for Ukrainian defense.
🚨 Liquidations of short positions in the futures market hit the HIGHEST VOLUME since 2021
Approximately $196 million in Bitcoin short positions were liquidated today.
Bears were crushed by the ATH surge with high spot buying volume and high volatility.
USA 🇺🇸: In Nevada and Arizona, Kamala Harris needs to win among independent voters with a 55/45 margin. The vote of those who identify as Democrats alone will not be enough.
Florida is heading toward a solid victory for D. Trump.
In other states, we still don’t have enough information to make an assessment.
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⚡️ Today, the mining difficulty has surpassed the 100 trillion mark, a number that reflects the intensification of competition among miners.
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On this U.S. election day, Germany is keeping a particularly close watch on the United States. The reason? The U.S. stands as Germany’s top trading partner in terms of growth impact. Over the past 12 months, Germany’s trade surplus with the U.S. reached an impressive €67.4 billion. With Germany’s GDP at €4.2 trillion, this surplus provides a 1.6% boost—something the currently weakened German economy can hardly afford to lose.
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🚨 Deflation in China has hit its sixth consecutive quarter in the latest reading of 2024
This is the longest stretch since 1999.
Monetary and fiscal stimuli from China’s Central Bank aren’t working, and the market continues to cool.
Although this is, by nature, a market normalization mechanism after a long period of systematic leverage, today’s economic literature views deflation as something to be combated.
Therefore, we can expect to see more monetary stimulus from the PBoC, which is likely to intensify even further toward the end of the year.
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⚡️ Semler Scientific has announced the purchase of an additional 47 bitcoins for a total value of $3.0 million. The company now holds 1,058 bitcoins, with a total purchase value of $71.0 million.
Don’t be fooled by the short-term noise, Bitcoin doesn’t need politicians, politicians need Bitcoin.
Regardless of who wins the elections today in the U.S., the monetary result remains the same: the fiscal deficit stays, debt issuance to cover the deficit stays, monetization of bonds to cover the debt stays, and the deterioration of citizens’ wealth through the silent tax stays.
There’s no way to stop this process anymore, and if you trust politician A or B to save you from impoverishment, then you still haven’t understood how the world works.
Those who don’t suffer from this dilution (the cantillionaires) just keep watching the monkeys fighting each other, wearing their favorite politician’s shirt, hoping someone will save them, while they run the show behind the curtains.
Salvation is individual, and Bitcoin is the truth in all of this. There are no elections to decide who controls the protocol.
The monetary policy of the network is already set, love it or leave it.
Don’t be confused by the short-term noise, the math is the same.
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Institutional Trust is down; frankly, many of these institutions have only themselves to blame. They compromised political neutrality in favor of cosplaying as resistance fighters.
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🚨 A multibillion-pound UK pension fund has announced a 3% allocation in Bitcoin.
So far, this news hasn’t received the attention it deserves, but that’s exactly what makes it significant. Institutional and government adoption of Bitcoin has already started, and pension funds are entering this market.
This move could change how Bitcoin is perceived, and others are likely to follow.
Keep an eye on this, because it’s only going to get bigger.
Good thing you don’t understand lol
The song sounds better this way.
But basically, they’re saying that he was on duty, and a young girl went up to the favela to “sit.” Basically, the girl goes “missing,” but in reality, she’s getting “lit up” by the crew (4+ guys) in the favela.
USA 🇺🇸: George Clooney narrated an ad urging male Trump supporters to vote for Harris. The 30-second clip encourages men to consider how voting for the Republican candidate will impact the women in their lives.
Germany has recently seen a decline in corporate investment, placing it behind other major industrialized nations. One contributing factor is its corporate tax rate, which, at around 30%, is the highest in the OECD. Further, political turmoil within the government is weakening business confidence.
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Warren Buffett’s Berkshire Hathaway has raised its cash reserves to an all-time high of $325.2 BILLION.
Regardless of how you interpret this, it’s not bullish.
Although I completely disagree with their thesis on Bitcoin, I still credit them for their macro perspective.
At some point in the coming years, we should expect a systematic global deleveraging — brace for the impact.
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Let’s simplify, it doesn’t matter who will win on Tuesday in the US.
Regardless of who it is, nothing will change regarding what is happening in the chart below.
Spending + populism + deficit = monetization + printing
Weak currency priced in strong currency tends to zero.
Study Bitcoin.
USA 🇺🇸: “I will legalize recreational marijuana, break down unjust legal barriers, and create opportunities for all Americans to succeed in this new industry,” says Kamala Harris.
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Notes by Bitman | export