• Bitcoin Breaking Records

• Standard Chartered: Crypto Peak Yet To Come

• Meme Coins Leading The Crypto Charge

• ADA Surges On News of Hoskinson’s Role in U.S. Crypto Policy

• And more…

Market Data Prices as of 6:00am ET

This Update is Brought to You By Bitbo

Bitbo launched a new FREE Chart - Bitcoin All Time Highs

This chart shows Bitcoin's price history.

The red dots indicate when the Bitcoin price made all-time highs.

BITCOIN BREAKING RECORDS

BREAKING: US Presidential Election Sees Bitcoin Reach New All Time Highs

Bitcoin made headlines this weekend, following the US Presidential Election.

Prices surpassed the $80,000 mark for the first time on Sunday and climbing to $83,776 by Monday., before reaching over $87,390 at time of writing.

This rally, marking a 4% gain, was supported by trading volumes approaching $100 billion.

Weekend pumps in crypto markets are generally seen as bullish, particularly when professional traders and institutional players are less active.

With Bitcoin now securely above $80,000…

We’ve achieved a new all-time high, adjusted for inflation! 🥳

This is a major milestone!

As trading continued into Monday, BTC reached an impressive high of $82,394.

Meanwhile, rising futures premiums on BTC-linked products point to a bullish sentiment among traders.

The heavy demand for $80,000 call options on Deribit suggests dealer hedging may be helping sustain prices around this critical threshold, reinforcing the positive outlook.

STANDARD CHARTERED:
CRYPTO PEAK YET TO COME

The wider crypto market followed Bitcoin’s upward momentum.

Standard Chartered’s Head of Digital Asset Research, Geoff Kendrick, has reiterated his ambitious price targets for Bitcoin and other key assets.

A jump to $125,000 represents a ~56.25% increase from current levels—a bold prediction but one that doesn’t seem impossible given recent trends.

Kendrick is also forecasting that Ethereum (ETH) and Solana (SOL) may soon set new all-time highs.

Ethereum is currently about 34.5% below its record high, while Solana sits roughly 18.9% below its peak.

Kendrick concludes by predicting a 4x increase for the crypto market by 2026, suggesting the sector could reach a valuation of $10 trillion.

It’s striking how quickly sentiment has shifted to a bullish stance.

Join Swan Bitcoin! And Get $10 of Bitcoin When You Sign Up!

Create an Account Now>>

MEMECOINS LEADING THE CRYPTO CHARGE

Dogecoin and Shiba Inu have led the rally among major cryptocurrencies with impressive price gains of 22% and 12%, respectively, as of now.

DOGE has surpassed XRP and USDC, becoming the sixth-largest token by market cap.

This surge in DOGE is largely driven by renewed endorsements from technology mogul Elon Musk, resulting in an 88% increase over the past 30 days. Over the weekend,

Ether broke above the $3,000 mark for the first time since early August, indicating a potential breakout from its recent range-bound movement.

Additionally, SOL has registered steady gains, rising 4.5% in the past 24 hours, thanks to lively memecoin activity in its ecosystem. 🍾

Heatbit Trio is the world’s only heater-purifier that mines Bitcoin at 10 TH/s and makes you ≈30,000 SATS / mo

Get 5% Off with Coupon Code »CLOUDAICRYPTO»

ADA SURGES ON NEWS OF HOSKINSON’S ROLE IN US CRYPTO POLICY

The ADA token of Cardano hit its highest mark since April 2024, fueled by reports that founder Charles Hoskinson aims to be involved in U.S. crypto policy development.

ADA rose 33% to $0.64 before adjusting to $0.59, illustrating the market’s optimism for Cardano’s potential influence in the regulatory landscape.

Hoskinson, previously a co-founder of Ethereum, has a long-standing influence in the blockchain world and now intends to engage in crypto policy advising as Donald Trump prepares to assume the presidency in 2025.

Hoskinson noted that he plans to commit substantial time to the political process next year.

While not yet officially appointed, his proactive stance has garnered attention, especially as Trump's team has indicated openness to input from the crypto industry on potential regulations.

Cardano's recent pivot is noteworthy; Hoskinson revealed that Cardano will soon function as a Bitcoin layer-2 network, a move designed to leverage Bitcoin’s security and liquidity while enhancing transaction efficiency.

The development of Midnight, a companion blockchain featuring privacy and selective disclosure options, was highlighted by Romain Pellerin, CTO of Input Output Global, at the Bangkok Staking Summit.

Midnight will empower stake pool operators within the Cardano ecosystem to bolster these privacy features, earning $Night tokens as part of the governance model.

FOR THE FERTILE MIND…

You are what you read! Here is what we are reading right now…

The Conservative Case For Bitcoin - Mitchell Askew
Contributions to Philosophy (Of The Event) - Martin Heidegger
Liberty and Property - Ludwig Von Mises
Concept of the Political - Carl Schmitt

OTHER NEWS

• Bitcoin developers achieve a groundbreaking method to implement Bitcoin covenants without needing a soft fork, enhancing scalability, privacy, and DeFi functionalities.

• MicroStrategy's stock jumps 20% following Trump’s reelection and US interest rate cuts.

• Senator Cynthia Lummis reiterates her call for a strategic Bitcoin reserve after Trump’s reelection, a proposal initially introduced at the Bitcoin 2024 Conference in July.

• Jason Lowery advocates for the US to view Bitcoin as a strategic asset beyond finance, emphasizing its potential for cyber sovereignty and proposing a government-backed ‘US Hash Force’.

• Trump’s Bitcoin advisor urges the US to establish a strategic Bitcoin reserve quickly, cautioning that other nations may preempt this move.

• Trump’s cabinet appointees are likely to be less hostile toward Bitcoin early reports suggest .

• El Salvador’s Bitcoin investment generates a $100M gain in 24 hours, due to a strategic daily purchasing plan started in late 2022.

• El Salvador's President discusses Bitcoin strategy and Trump's near-death experience during a congratulatory call.

• A Republican-led Senate is expected to pass more pro-Bitcoin and crypto regulations, indicating a shift toward industry-friendly policies in the US.

• Stablecoin inflows to exchanges surge, potentially signaling an upcoming Bitcoin rally.

• BlackRock's Bitcoin ETF surpasses its gold ETF in net assets just months after launch.

• BlackRock's spot Bitcoin ETF reaches a record $4B trading volume on US election day.

• A new study suggests Bitcoin mining bans may inadvertently increase global carbon emissions by driving miners to fossil fuel-heavy regions.

• Microsoft may face a shareholder lawsuit if it continues to neglect Bitcoin investment as Bitcoin value rises.

• Deutsche Telekom, Europe’s largest telecom provider, explores Bitcoin mining to help balance Germany’s renewable energy grid.

• Bitcoin mining difficulty surpasses 100T for the first time, pressuring small miners amid a record-high hashrate.

• Bitcoin surpasses Meta to claim the 9th spot in total market capitalization.

• Detroit plans to allow tax payments in Bitcoin and crypto by 2025, modernizing city services.

• Google searches for Bitcoin spike after Trump’s election victory, indicating rising interest from retail investors.

MEMES OF THE WEEK

RECOMMENDATIONS

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.