DIB 7 NOV 2024

BTC Daily Intelligence Bulletin (DIB)
Block: 869,117
DTG/ICOD: 1200Z 07Nov24
Precedence: Routine (RR)
Controls: Public Release
QQQQ
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BLUF: German Coalition Government Collapses / Aussies Want to Ban Social Media for Kids / Russia Drone Swarms Kyiv / Xi Wants to ‘Get Along’ With Trump / Trump’s Legal Issues to Dissolve / 9-11 Conspirators To Not Face Death Penalty / Harris Campaign Blew Through $1B and Ended with $20M in Debt / Sen Lummis Says Time to Build Bitcoin Reserve / Ohio Gets New Crypto-Friendly Senator / BRICS Rises / BTC ETFs Break Records / Stocks Best Day Since 2022 / NK Hackers Target Crypto Firms With MacOS

Market Data: Price: 1 BTC= $74,802, 27.90 oz Gold, .17 Median US House
24hr Hi: $76,460 / Lo: $73,571
Vol: $67B (Down 36%)
Mkt Cap: $1.48T (Up 1%)
HashRate: 720 EH/s
Avg Fee Rate: 2 sats/vBtye (Down 66%)
Nodes: 19,317

—Reports—
-International Events-
1. German chancellor fires finance minister, collapsing coalition government: In a televised address, Chancellor Scholz said he had dismissed Finance Minister Christian Lindner saying it “was necessary to prevent harm to our country.” The firing came after days of political negotiation between the key members of Germany’s ruling “traffic light” coalition government – Scholz of the Social Democratic Party, Lindner of the Free Democratic Party, and Robert Habeck of the Green Party. (CNN)

2. Australia plans a social media ban for children under 16: The legislation will be introduced in Parliament during its final two weeks in session this year, which begin on Nov. 18. The age limit would take effect 12 months after the law is passed. (AP)

3. Russia Bombards Kyiv with Swarm of Drones, Striking Hospital, High-Rises, and Industrial Sites: Throughout the eight-hour assault, Kyiv residents reported explosions across the city, and air defense systems were active. Kyiv Post reporters across the city noted loud blasts as drone debris fell in four districts. (KyivPost)

4. US And China Must ‘Get Along’, Xi Tells Trump: In his first message to Trump since the former president secured a second term, Xi said “history has shown that China and the United States benefit from cooperation and suffer from confrontation” “A stable, healthy and sustainable China-US relationship is in the common interest of both countries and is in line with the expectations of the international community,” Xi said. He called for Washington and Beijing to “strengthen dialogue and communication” and “properly manage differences”. (IBTimes) (AC-Xi trying to set the tone for the coming negotiations.)

-US Events-
1. Trump’s victory likely upends all the criminal cases against him: Justice Department officials have already begun evaluating how to wind down the two federal cases against Trump before he takes office in order to comply with department policy that a sitting president can’t be prosecuted. (NBC)

2. Military judge overrules defense secretary and says plea deals for alleged 9/11 conspirators are valid: A military judge ruled on Wednesday that plea agreements between the alleged 9/11 conspirators at Guantanamo Bay and the US government are “valid and enforceable,” a defense official told CNN – roughly three months after Defense Secretary Lloyd Austin revoked the deals. The ruling allows for the plea deals to go forward and could mean the men will eventually be sentenced to life in prison and avoid death sentences. (CNN)

3. Kamala Harris Campaign Fell $20 Million in Debt in Final Week: A Kamala campaign staffer confirmed to Breitbart News that the reports that Harris’s campaign was “$20 million” in debt “is real,” adding that Jen O’Malley Dillon, the Harris campaign chair reportedly “blew through a billion dollars in a few months.” The concerts that the Harris campaign held with celebrities such as Katy Perry, Lizzo, Eminem, and Bruce Springsteen were reportedly “all Jen’s idea,” the campaign staffer explained. “Jen blew through a billion dollars in a few months, and it was all Jen’s idea to do all the concerts,” the campaign staffer said. (Breitbart)

-Regulatory and Legal-
1. Pro-Bitcoin Senator Proclaims US Will Establish $BTC Reserve After Trump Win: Donald Trump’s sweeping victory in the U.S. elections has led to widespread celebrations across the cryptocurrency community, and many were particularly drawn to Republican Sen. Cynthia Lummis of Wyoming’s post regarding Bitcoin. About an hour after posting the laser eyes meme photo, Lummis made the big announcement: “We are going to build a strategic Bitcoin reserve,” she wrote. If Lummis’s statements during the BTC Conference are to go by, the United States will “convert excess reserves at our 12 federal reserve Banks into Bitcoin over five years.” She noted that the said strategy should help “cut our debt in half by 2045.” The U.S. has a staggering $35 trillion debt. (IBTimes)

2. Crypto Advocate Bernie Moreno Takes Ohio Senate Seat, Vows Regulatory Clarity: As chair of the Senate Banking Committee, Incumbent Brown held considerable sway over digital currency legislation, making Moreno’s win a pivotal development for the industry, especially in Ohio. Moreno’s advocacy includes the establishment of a national Bitcoin reserve and initiatives aimed at regulatory certainty. Furthermore, Moreno’s credentials in the blockchain space extend beyond politics. As the owner of Bernie Moreno Companies, a group with investments in blockchain technology, Moreno has a vested interest in the industry’s growth. He was also a co-founder of Blockland Cleveland, an initiative to promote blockchain adoption in the local economy. (Bitcoinist)

-Central Bank Digital Currencies/World Currencies-
1. The Rising Force: Growing BRICS Relations Signal a New Economic Powerhouse: BRICS, an economic alliance of Brazil, Russia, India, China, and South Africa, recently expanded to include six new members: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE). With these additions, BRICS aims to increase its economic and political leverage. The economic bloc has also invited 13 nations to join as partners. Kremlin spokesman Dmitry Peskov emphasized on Wednesday that Russia is not attempting to undermine the U.S. dollar, but instead is committed to protecting its own national interests. “We are not attempting to defeat the dollar and it is not needed to attempt to have the victory over it. (BitcoinCom)

-Institutional Concerns-
1. BlackRock Bitcoin ETF sees ‘biggest volume day ever’ with $4.1B traded: In a Nov. 6 post to X, Bloomberg ETF analyst Eric Balchunas shared that the iShares Bitcoin Trust (IBIT) witnessed its “biggest volume day ever” with over $4.1 billion in daily trading volume on Nov. 6. “For context that’s more volume than stocks like Berkshire, Netflix, or Visa saw today. It was also up 10%, its second-best day since launching, “ he added. (CoinTelegraph)

-Economic Indicators-
1. US 10-Year Yield Holds Steady Ahead of Fed Decision: The yield on the 10-year US Treasury note held steady around 4.43% on Thursday, near a four-month high, as investors prepared for the Federal Reserve’s upcoming policy decision. The Fed is widely expected to cut interest rates by 25 basis points later today, with traders looking for signals on whether another cut will follow in December. (TradingEconomics)

2. US Stocks Close at Record Highs After Trump’s 2024 Election Victory: Wall Street’s major indices closed at record highs on Wednesday after Donald Trump won the 2024 presidential election, defeating Kamala Harris. The S&P 500 rose 2.5%, the Nasdaq jumped 2.9%, and the Dow Jones soared 1,507 points, or 3.6%, marking its strongest session since 2022. Investor optimism is fueled by expectations that a second Trump administration will bring pro-business policies such as tax cuts, deregulation, and tariffs, which are expected to boost economic growth and corporate earnings. (TradingEconomics)

-Security Incidents and Concerns-
1. North Korean Hackers Target Crypto Firms with Hidden Risk Malware on macOS: A threat actor with ties to the Democratic People’s Republic of Korea (DPRK) has been observed targeting cryptocurrency-related businesses with a multi-stage malware capable of infecting Apple macOS devices. The activity “uses emails propagating fake news about cryptocurrency trends to infect targets via a malicious application disguised as a PDF file.” (HackerNews)

-Technology and Science-
NSTR

-Bitcoin Community-
NSTR

-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 77/100 (Up 2 pts)

Analyst Comments (AC): NSTR

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Analyst: BV2A
END REPORT
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*NSTR-Nothing Significant To Report