Oh, great, Bitcoin’s doing its usual circus act – plunges to almost $108,000 like it’s auditioning for a soap opera, then soars above $110,000. And hey, $817 million in leveraged futures liquidations? Sounds like a bad divorce where the long traders get the shaft. Again. Typical Tuesday Wednesday Thursday, whatever day it is.
The “Fear & Greed” index, that unreliable narrator of market sentiment, declares Bitcoin has plunged into the “fear” abyss. A paltry 34 out of 100 points-yesterday’s neutral 51 now a distant memory. 🦇🔮
The motion, with all the grandeur of a Versailles ball, demands a public body to amass a Bitcoin hoard equal to 2% of the total supply-roughly 420,000 BTC-over seven to eight years. How, you ask? By mining with surplus energy, hoarding seized Bitcoin like a digital dragon, and siphoning off a slice of Livret A and LDDS savings for daily BTC purchases. Tax payments in Bitcoin? Mais oui, if the constitution gives its nod. 🤑🔗
When this particular digital bauble first appeared in January, it was dismissed by sensible people as a fleeting fancy – a digital memento for those fervently anticipating a return engagement. And then, oh dear, the market went delightfully mad. The value soared to nearly $9 billion! Political symbolism, retail enthusiasm… a potent, if slightly baffling, cocktail.
On Wednesday, the Ethereum folks unveiled “institutions.ethereum.org,” a site so straightforward even the most hardened banker might think it’s simply a very clean, well-organized brochure – but with slightly more pizzazz. Crafted by their Enterprise Acceleration team, it’s designed to gently lead big businesses from the dull corridors of traditional finance into the glitzy Ethereum ballroom.
Blockchain software giant Consensys has decided that the world is ready for its IPO, and what better way to make that leap than by teaming up with two of the biggest names in Wall Street? As reported by Axios on October 29th, this move places Consensys firmly in the company of crypto firms who are also riding the wave of “things are looking a bit better”, regulatory conditions and market sentiment be damned. 🌊
At the heart of this intrigue are Anton and James Peraire-Bueno, siblings whose actions, according to the prosecution, weave a tale of deception and cunning. They allegedly manipulated the ethereal threads of Ethereum’s expansive fabric to execute a trading ploy worth some $25 million in 2023-what prosecutors label a diabolical “bait-and-switch” targeting unsuspecting automated trading bots. Yet these charges are met with laughter most insolent by the defence, who argue they merely dressed in the garb of audacious trading strategies, themselves a product of blockchain’s labyrinthine design.
In a post on X (formerly known as Twitter, because why not add more confusion to the world?), Bit Origin claimed that DOGE is outpacing Bitcoin in speed, cost, and usability. Apparently, Bitcoin takes 10 minutes per block, while DOGE confirms transactions in just one minute. 🕒✨ That’s like comparing a tortoise to a jackrabbit-one’s cute, the other’s just… slow. 🐢🐇 They also mentioned lower fees, because who doesn’t love saving a few cents while the world burns? 🔥💸
This fateful trade twirled around cash-settled Bitcoin options, priced at a dizzying BTC $111 540, with a 24h volatility of a mere 1.1%-that’s practically Zen compared to the crypto rollercoaster, darling-and a market cap swelling to $2.22 T, while 24h volume pirouetted through $66.34 B. Not to be outshone, Ether joined the jubilee with options at $3 946, volatility a soothing 0.3%, market cap $476.05 B, and volume $34.11 B. What a hedging hedge, structured to shield these behemoths from the crypto storms of their own making-because who needs dragons when you’ve got price swings? 😂 These bespoke shields echo the old-school risk tamers, custom-crafted for the elite who hedge like pro gamblers playing chess with lightning. (According to CoinDesk, the gospel of all things ledger, it’s basically financial tai chi for those who dare the virtual abyss.)
The audacious initiative seeks to graft the frenetic energy of crypto perpetual contracts onto the stodgy pillars of stocks, forex, and ETFs. A bold venture into the well-trodden fields of finance, where the only thing more volatile than the markets is the sanity of those who dare to trade them.
