Bitcoin surges past $100,000 again

Even the wider crypto market also rose.....

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Bitcoin has been on quite the rollercoaster lately, hasn't it?

Well, thanks to November's Consumer Price Index (CPI) hitting the mark, Bitcoin has made its triumphant return to the 100k club!

Here’s what we got for you today:

  • 🚀 Bitcoin surges past $100,000 again!

  • 🇨🇦 Vancouver's journey towards Bitcoin adoption!

  • 🔎 Market Insight

  • 🧱 Around the Block: How Ripple's XRP Defied the Odds to Dominate the Crypto Market with a 300% Surge.

🚀 Bitcoin Surges Past $100,000 Again!

Bitcoin is flexing its muscles again!

It briefly crossed the $101,000 mark after a solid 3% rally sparked by November’s Consumer Price Index (CPI) numbers hitting the expected 2.7%.

Naturally, this sent investors into a frenzy, with a good 98% probability now attached to the Federal Reserve cutting interest rates by 25 basis points next week.

If that happens, we could see rates dip to 4.33%!

As it stands, Bitcoin is holding the line at $100,802 (as of press time), refusing to budge below six figures despite some bear attempts.

And really, it’s a remarkable comeback after a rollercoaster week where BTC hit an all-time high of $103,918 on Dec. 5, only to nosedive during two flash crashes to a low of $90,200.

But according to CryptoQuant’s CEO, Ki Young Ju, these corrections are just minor blips in a larger bull cycle driven by soaring ETF demand and institutional investors scooping up Bitcoin like it’s the last piece of cake at a party.

And hey, it’s not just Bitcoin having all the fun—the entire crypto market is riding this bullish wave.

Ethereum is up 7.5% and is now chilling above $3,800, while XRP went on a wild 20% ride to hit $2.42.

Other players like Solana (SOL), Cardano (ADA), Tron (TRX), and Avalanche (AVAX) have all seen double-digit gains, climbing 11%, 16%, 10.6%, and 13%, respectively.

Oh, and let’s not forget Sui (SUI) —it stormed back into the top 20 cryptos with a 20% surge to $4.25.

On average, the crypto market gained a solid 7.8% in just 24 hours, with tokens linked to centralized exchanges leading the pack with a 17% increase.

Even bridge tokens like LayerZero (ZRO) and Wormhole (W) have also seen a 10% uptick.

And here’s the kicker: 

Every single crypto sector tracked by Artemis ended the day in the green. That’s right, not a single loser in sight.

In a nutshell, the crypto market is buzzing with excitement, fueled by favorable economic indicators and the prospect of a more accommodating monetary policy.

As always, while the gains are thrilling, it's wise to stay informed and tread carefully in this ever-evolving landscape.

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🇨🇦 Vancouver's Journey Towards Bitcoin Adoption!

Vancouver is making waves in the crypto world.

In an exciting move, Mayor Ken Sim is on a mission to transform Vancouver into a "Bitcoin-friendly city."

His vision highlights the power of Bitcoin as a potential safeguard against inflation-threatening municipal finances.

And to demonstrate his commitment, Sim has even put his money where his mouth is, pledging $10,000 in Bitcoin to the city—showing he truly believes in the cryptocurrency's promise.

However, not everyone is on board.

The proposal faces significant skepticism, primarily due to Bitcoin's notorious volatility and existing legal hurdles.

Critics like Green Councilor Pete Fry are raising red flags about potential money laundering risks and the absence of regulatory frameworks needed for integrating cryptocurrency into municipal operations.

Now, the city's staff are stepping up to the plate, launching a comprehensive feasibility study.

Their findings, due in the first quarter of 2025, could ultimately reshape Vancouver's approach to the future of finance.

Will the city embrace this innovative technology, or will concerns override its potential? The journey ahead promises to be an intriguing one!

🔎 Market Insight

Congratulations everyone!

We successfully bought the dip and timed our entry almost perfectly. Most altcoins are now up 15-30%.

With emotions stabilizing and everyone feeling optimistic about the market again, I think it's crucial to discuss an important point.

In a bull market, as long as the overall trend remains intact, dips should be seen as buying opportunities. Investing during these low moments is almost always profitable, and the market often rewards you within days.

Let's continue to ride the wave upward.

Keep a close eye on SUI; we might break the $5 mark this week. If that happens, it means we will have seen a gain of over 400% since we first mentioned it in our newsletter.

🧱 Around The Block

  • How Ripple's XRP defied the odds to dominate the crypto market with a 300% surge.

  • Billionaire investor Ray Dalio recommends Bitcoin as 'hard money' amid national debt increases.

  • Circle and Binance partners to boost global adoption of USDC.

  • Chainlink signs MOU with the National Bank of Dubai to support asset tokenization.

  • Crypto startups attracted $800 million in VC backing during November.

  • MicroStrategy is expected to join Nasdaq 100 with $2.1 billion in ETF share buying.

  • US November CPI matches expectations, and the Fed rate cut is likely ahead.

That's all we've got for you today.

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions.

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