DIB 21 MAY 2024

BTC Daily Intelligence Bulletin (DIB)
Block: 844,432
DTG/ICOD: 0800EST 21May24
Precedence: Routine (RR)
Controls: Public Release
QQQQ
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BLUF: Biden Slams ICC for Netanyahu Warrant / Iran Mourns President / Macron Heads to New Caledonia / Key Bridge Opening Up / Houston Storms Kill 8 / Venezuela, Paraguay Arresting Crypto Miners / India Want G-20 to Regulate Crypto / ETH ETF Makes Progress / Russia, China Fully Ditch the Dollar / US Stocks at ATH / Venture Capital Chases Crypto Gains

Market Data: Price: 1 BTC= $71,214, 29.34 oz Gold, .17 Median US House
24hr Hi: $71,946 / Lo: $66,767
Vol: $56B (Up 147%)
Mkt Cap: $1.41T (Up 7%)
HashRate: 586 EH/s
Avg Fee Rate: 13 sats/vBtye (Up 30%)
Nodes: 17,670

—Reports—
-International Events-
1. Biden, After Revoking Trump’s Order Against ICC, Claims Outrage at ICC Warrants Against Israel: Biden reacted to the announcement Monday that the ICC was seeking warrants against Israeli Prime Minister Benjamin Netanyahu and Defense Minister Yoav Gallant — as well as against three Hamas terrorist leaders. In a statement, Biden said: The ICC prosecutor’s application for arrest warrants against Israeli leaders is outrageous. And let me be clear: whatever this prosecutor might imply, there is no equivalence — none — between Israel and Hamas. We will always stand with Israel against threats to its security. (Breitbart)

2. Iran begins days of funeral ceremonies for President Raisi as investigators probe helicopter crash: Iran’s government has arranged multiple days of mourning culminating in a funeral later this week for the 63-year-old ultraconservative cleric who had once been seen as a potential successor to current Supreme Leader Ayatollah Khamenei. (CNN)

3. Macron heading to New Caledonia as France deploys more troops amid unrest: French President Emmanuel Macron is heading to New Caledonia, the government has announced, as hundreds more security personnel will join the 1,500 reinforcements already on the ground after the worst unrest in the French Pacific territory in more than 30 years. (AlJazerra)

4. Singapore Airlines passenger dead after Boeing jet hits ‘severe turbulence’: A Singapore Airlines flight has made an emergency landing in Bangkok Tuesday following “severe turbulence” that left one person dead and others injured, the airline says. The Boeing 777-300ER plane was traveling from London to Singapore with 211 passengers and 18 crew onboard. (Fox)

-US Events-
1. Key Bridge Collapse: Tourism businesses that rely on water hopeful amid re-floating of Dali cargo ship: On Monday, crews re-floated and moved the Dali, starting the process to allow more ships through the channel. Carnival Cruise Line announced it will resume operations out of Baltimore starting Sunday. Royal Caribbean is also returning to Baltimore with the “Vision of the Seas” departing from the port on Saturday. (WBALTV)

2. Death toll grows to 8 in severe Houston-area storms: An eighth person has died in the Houston area following severe weather that lashed the city and surrounding Harris County with 100 mph winds, officials said Monday, and more than 192,000 customers remained without power. The eighth person died in Houston as the result of carbon monoxide poisoning, Houston Fire Department spokesperson Martee Black. (NBC)

-Regulatory and Legal-
1. Venezuelan Authorities Seize a Large Bitcoin Mining Facility: Venezuelan authorities released a new video showing the ongoing crackdown on Bitcoin mining firms. The crackdown occurred in one of the mining galleries in the industrial area of Valencia. The authorities want to ensure all Bitcoin mining firms are disconnected from the national grid. According to the national government, the mining facilities have high power consumption. The high-consuming firms cripple the country’s ability to supply power to citizens. (Cryptopolitan)

2. Indian Finance Minister: Crypto Regulation Needs Global Consensus: Indian Finance Minister Nirmala Sitharaman advocates for global consensus on cryptocurrency regulation, highlighting the need for international cooperation, particularly within the G20. She noted that while Indian regulators have differing opinions regarding how to treat crypto, there is currently no significant confusion. (BitcoinCom)

3. Paraguay Wants to Jail Illegal Bitcoin Miners for Up to 10 Years as Local Mining Booms: Paraguay is now pursuing a jail time period for unlawful miners for as much as 10 years, as a substitute of the sooner thought-about blanket ban on all mining. (CryptoNewsBTC)

-Institutional Concerns-
1. Ether ETFs Filing Process Sees Abrupt Progress, Though Approval Not Guaranteed: Exchanges are being asked to update 19b-4 filings on an accelerated basis by the U.S. Securities and Exchange Commission. The SEC had previously been expected to reject the ether ETF filings, and while there’s no guarantee of approval, the move suggests progress is being made. (CoinDesk)

-Central Bank Digital Currencies (CBDC)-
1. Russia, China Confirm They Have Stopped Using US Dollar Permanently: Russia and China have declared a dramatic breakup with the US dollar. Now, 90% of their trade is conducted using their own currencies, the Russian ruble and Chinese yuan. This decision was reinforced during a high-level discussion between Russian President Vladimir Putin and China’s Xi Jinping, which focused on strengthening the BRICS alliance and advancing their mutual interests without the American currency. “Ditching the USD has simplified our trade transactions and also strengthened our economic sovereignty.”- Vladimir Putin (Cryptopolitan)

-Economic Indicators-
1. S&P 500 and Nasdaq 100 Set to Close at Record Highs: In the afternoon session, the S&P 500 edged higher by 0.1% on track to close at a fresh record high, the 24th this year. Also, the Nasdaq 100 touched all-time high of 18,719, rising 0.6%

-Security Incidents and Concerns-
NSTR

-Technology-
1. TSMC and ASML can remotely disable chip-making equipment if mainland China invades Taiwan: The remote shut-off applies to Netherlands-based ASML’s line of extreme ultraviolet machines, known within the industry as EUVs, for which TSMC is its single biggest client. (SCMP)

-Bitcoin Community-
1. Venture Capital Pours $2.4 Billion into Cryptocurrency Startups in Q1 2024: This influx of capital reflects a broader trend of growing interest in cryptocurrency startups. The emergence of meme coins, DeFi platforms, NFTs, and blockchain-based applications has not only expanded the market’s appeal but also diversified investment opportunities. (DalesReport) (AC-Fiat doing fiat things)

-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 76/100 (Up 2 pts)

Analyst Comments (AC): “Then they fight you” stage is in full effect. Venezuela, Paraguay are arresting bitcoin and crypto miners simply for mining. India is looking to the IMF and G20 to regulate crypto worldwide. Nigeria has all but declared war on crypto and exchanges. It seems countries are starting to understand the existential threat that bitcoin can offer those who would save their life work without being stolen via fiat debasement.

Follow us on NOSTR: @Bitcoin Veterans
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Analyst: BV2A
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*NSTR-Nothing Significant To Report