Election Month, November of 2024: crazy Wild 30 days 🎢

Political:
*Trump won election
*Powell said he won't step down as FED chair if asked by Trump
*Gensler announced resignation
*AI & Crypto Czar News
*Trump picked Pro-Crypto Scott Bessent as Treasury Secretary
*Cantor Fitzgerald negotiated 5% stake in Tether

TradFi:
*MicroStrategy bought 134,480 Bitcoins ($12Billion)
*MicroStrategy reached new ATH after ~25 years then shares crashed 30% after Citron Research Short postion news
*Coinbase shares +70%
*Gold down 6%
*SPX & NDX hits new ATH
*DXY hits Two Year high
*XRP, HBAR, LTC ETF Filings
*Record inflows to BTC & ETH Spot ETFs: $6.4B in BTC ETFs & $1B in ETH ETFs
*BTC ETF Options begin Trading

Market:
*BTC +50%, ETH +60%
*SOL ATH, then XRP flipped USDT & SOL, now XRP is the 3rd largest Crypto, added +100B to MC
*ADA again enters Top 10, hits $1
*XLM enters Top 15
*TON, TRX no longer in top 10
*DOGE hits 3 year high, +250%
*ALGO+ 350%, IOTA +250%, XTZ +200%, EOS +200%
*Binance Countinue listing shitcoins while CZ said lets build real applications
*Robinhood, Kraken, Paxos launched new stablecoin USDG on ETH
*Binance Launched BFUSD, a Reward-Bearing Margin Asset for Futures Traders promising APY 'will never go below zero'
*Vitalik back to writing Vyper code
*Global Cryptocurrency Market Cap increased by $1 Trillion

The Week Ahead | @infinityhedge | Speech Week

WEEKLY US SPOT ETF FLOWS:
*BTC: -$135M
*ETH: +$465M

Macro:
*ISM Manufacturing PMI (Nov) on 2
*U.S. JOLTS Job Openings (Oct) on 3
*ADP Nonfarm Employment Change (Nov) on 4
*Fed Chair Powell Speaks on 4
*U.S. Nonfarm Payrolls and Unemployment Rate on 6
*Speeches from Fed officials whole week

Crypto
*Cboe to Launch the First Cash-Settled Options Product Related to Spot Bitcoin on Dec. 2
*SEC DEADLINE for CBOE Exchange ETH OPTIONS on 3
*Namada Mainnet launch on Dec. 3
*Particle Network Launch on 3
*Ripple is expected to launch it’s RLUSD stablecoin as early as Dec. 4
*U.S. Financial Services Committee hearing on 4: How Technology is Shaping the Future of Finance. Witnesses: Denelle Dixon (CEO of Stellar), Nathan McCauley (CEO Anchorage Digital)
*Emergence conference Dec. 5-6

Token Unlocks:
$JTO: $450M: 105.2% on 7
$TAIKO: $19.4M: 11.38% on 5

What Bloomberg Economics Says:
“November’s jobs report will likely be an improvement on October’s, but not the type of strong rebound one would expect if all of October’s weakness were due to temporary factors. The underlying pace of job growth is likely below what’s needed to stabilize the unemployment rate — which we still expect to hit 4.5% before year-end.”

Earnings/Charts/Articles ⬎

*MICROSTRATEGY ACQUIRED 15,400 BITCOINS FOR ABOUT $1.5B IN CASH AT AN AVG. PRICE OF $95,976 PER BITCOIN BETWEEN NOVEMBER 25 AND DECEMBER 1, 2024

*AS OF DECEMBER 1, 2024, MICROSTRATEGY HOLDS 402,100 BITCOINS, WHICH WERE ACQUIRED AT AN AGGREGATE PURCHASE PRICE OF APPROXIMATELY $23.4 BILLION AND AN AVERAGE PURCHASE PRICE OF APPROXIMATELY $58,263 PER BITCOIN

BTCKRW PAIR DOWN 30% ON UPBIT EXCHANGE AFTER SOUTH KOREA PRESIDENT YOON DECLARES MARTIAL LAW

SOUTH KOREA TO PROVIDE UNLIMITED LIQUIDITY TO MARKETS IF NEEDED

*S.KOREA TO PROVIDE USE ALL MEASURES NEEDED TO STABILIZE MARKETS

S. KOREA PARLIAMENT PASSES REQUEST OF MARTIAL LAW LIFT

AMAZON ANNOUNCES MASSIVE AI SUPERCOMPUTER "ULTRACLUSTER" AND NEW SERVER "ULTRASERVER" POWERED BY IN-HOUSE TRAINIUM CHIPS, AIMS TO CHALLENGE NVIDIA: WSJ

*AWS SAYS TRAINIUM3 CHIP COMING NEXT YEAR, MADE WITH 3NM TECHNOLOGY

*APPLE PLANS TO USE AWS TRAINIUM CHIPS

SOUTH KOREA DEFENSE OFFICIAL: WILL MAINTAIN MARTIAL LAW UNTIL THE PRESIDENT SAYS OTHERWISE/OFFICIALLY LIFTS IT

SOUTH KOREA'S YOON (PRESIDENT) SAYS HE WILL LIFT MARTIAL LAW

*SHORTEST MARTIAL LAW EVER

HIS EXCELLENCY, LIBERLAND PM, AND BANANA OWNER JUSTIN SUN'S CRYPTOCURRENCY TRON $TRX HITS NEW ATH AFTER ~7 YEARS

$BNB SURPASSED $SOL IN MARKET CAP — HITS NEW ATH

PUTIN: NO ONE CAN BAN BITCOIN: TASS

*PUTIN: BITCOIN, DIGITAL ASSETS WILL CONTINUE TO DEVELOP

Putin:

Who can ban bitcoin? Nobody. What about the use of other electronic payment methods? Who can ban? Nobody. Because these are new technologies and whatever it is, whatever happens to the dollar, these tools will evolve one way or another because everyone will strive for it to reduce costs and increase reliability.

TRUMP PICKED PAUL ATKINS FOR SEC CHAIR

*Paul Atkins is a crypto enthusiast & he's on the advisory board for Securitize (Partnered with BlackRock).

POWELL: BITCOIN IS COMPETITOR FOR GOLD NOT DOLLAR

POWELL ON BITCOIN: PEOPLE USE BITCOIN AS A SPECULATIVE ASSET, IT'S LIKE GOLD, IT'S JUST LIKE GOLD ONLY ITS VIRTUAL, IT'S DIGITAL, PEOPLE ARE NOT USING IT AS A FORM OF PAYMENT, OR AS STORE OF VALUE, IT'S HIGHLY VOLATILE, IT'S NOT A COMPETITOR FOR THE DOLLAR, IT'S REALLY A COMPETITOR FOR GOLD

*FRENCH GOVERNMENT FALLS AFTER NO-CONFIDENCE VOTE IN PARLIAMENT

VIDEO: Powell on Crypto, U.S. Debt, Budget, Bitcoin and What's he is most concerned about: @infinityhedge

POWELL'S 2021 STATEMENT ON CRYPTO: “It’s more a speculative asset that’s essentially a substitute for gold rather than for the dollar"

*2019 STATEMENT: "Really almost no one uses bitcoin for payments, they use it as an alternative to gold, it's a store of value, a speculative store of value, like gold"

*NOT THE FIRST TIME POWELL MADE SUCH STATEMENT ABOUT BITCOIN COMPARING IT WITH GOLD

NFP DATA IN 40 MIN: @infinityhedge

NFP EST.:
*Median: +220k
*Average: +217k, Prev. +12K
*High: +284k
*Low: +150k

Forecasts:
*Barclays: +275k
*BofA: +240K
*Goldman Sachs: +235k
*JP Morgan: +215k
*RTRS: +200K
*BBG: +182k
*Citi: +155k

*Unemployment Rate EST.: 4.1%, Prev. 4.1%

*US NOV. NONFARM PAYROLLS +227K; EST. +217K

US NOV. UNEMPLOYMENT RATE 4.2%; EST. 4.1%