After 2017, when international sanctions cut off access to global banking, Iran’s love affair with Bitcoin began. It’s like finding a secret passageway to a treasure chest when the main door is slammed shut. 🎁🔐
Well, my dear audience, because SOL is frolicking at a delightful 3x its TVL, bolstered by Bonds from institutions like BSOL’s ETF, inflating its prices most vaudevillianly!
Canary’s HBAR ETF, with aspirations grander than Raskolnikov’s, found its way onto the trading floors of Nasdaq in an affair akin to the birth of Nicholas Gogol’s “Dead Souls.” It embarked on this odyssey amidst others, such as Solana and the underdog, Litecoin, on the 28th of October. On the day of its worldly debut, it leapt to a 20-day acme of $0.21, only to retreat coyly within the narrow corridor of $0.19 to $0.20. It was a spectacle most would describe as harbinger of a “sell-the-news” maneuver, where roguish speculators, much like the countless opportunists of Gogol’s Russian landscape, grasped at ephemeral profit amidst transient delirium.
“more transparent, more user-centric, and stronger than ever before.” Well, isn’t that a plot twist! 📈
Ah, the fickle heart of the investor! Barely weeks ago, they clamored like peasants for bread, driving BTC to the heights of $126,000 and ETH to the brink of $5,000. Yet, in the blink of an eye, their enthusiasm has waned, leaving the markets to ponder the fragility of human resolve. Both spot and derivative markets now bear the scars of this retreat, a testament to the fleeting nature of financial fervor.
Now, who could forget Sam and his deep-pocket tales? He insinuated FTX was secretly a treasure chest, rather than a sad pile of financial ashes that it was. Sam’s claims remind me of an under-loved pet rock. Meanwhile, Binance.US is shaking it off, denying any crypto-repulsive “payback” saga with former prez Donald Trump. Gee, it’s like a trust fall among the entitled, right?
As of November 2, Ethereum was lounging at $3,895-a modest 178% climb from its yearly low, proving that even a dead cat bounces if you throw it hard enough. And lo! A bullish flag pattern emerges, waving optimistically like a drunk fan at a football game. Meanwhile, ETF inflows rise, because nothing says “trust me” like institutional money chasing volatile assets.
Options flows show mild bullish bias through November, but traders remain cautious heading into year-end.
In a Sunday post on X (because nothing says “financial ruin” like a weekend tweet), Sunil spilled the tea ☕, estimating the recovery rate could be anywhere between 9% and 46%. But let’s be real, with Bitcoin (BTC), Ether (ETH), and Solana (SOL) prices doing the cha-cha since 2022, the actual value could be lower than a limbo stick at a crypto party. 🕺
Sentora, in its infinite wisdom, informs us that over two billion dollars worth of Bitcoin have decamped from centralized exchanges this past week. Two billion! It’s enough to make a frugal bureaucrat blush. And to think, mere days ago, the very same crypto world was lamenting a rather undignified tumble. A crash, you say? Such drama! 🎭 It’s all so… predictably unpredictable.
