DIB 12 JUN 2024

BTC Daily Intelligence Bulletin (DIB)
Block: 847,620

DTG/ICOD: 0800EST 12Jun24

Precedence: Routine (RR)

Controls: Public Release

QQQQ

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BLUF: IDF Kills Senior Hezbollah Commander / French Right Consider Alliance / Russia Hit Kyiv / Hunter Biden Convicted on 3 Felonies / Atlanta Bus Hijacked, Wild Chase / 8 ISIS-Linked Immigrants Arrested in US / Petrodollar Dissolution Gaining Attention / CPI and FOMC Data Due Today / DoD Finally Getting on AI Bandwagon / OG Bitcoin Core Maintainer May Return

Market Data: Price: 1 BTC= $67,757, 29.30 oz Gold, .16 Median US House

24hr Hi: $68,015 / Lo: $66,123

Vol: $27B (Down 13%)

Mkt Cap: $1.34T (Up 1%)

HashRate: 603 EH/s

Avg Fee Rate: 24 sats/vBtye (Down 10%)

Nodes: 18,838

—Reports—

-International Events-

1. IDF confirms killing Hezbollah regional division commander Taleb Abdullah, the ‘most senior’ officer targeted amid war: Abdullah commanded Hezbollah’s Nasr unit, one of three regional divisions in south Lebanon. The unit is responsible for the region between Mount Dov and the Bint Jbeil area. The IDF says it was prepared for the terror group’s response of over 170 rockets and several anti-tank guided missiles this morning, and expects additional attacks throughout the day. (TimesOfIsrael)

2. French right uproar over call for far-right alliance: The leader of France’s right-wing Republicans party, Eric Ciotti, has sparked an outcry after he backed an alliance with the far-right National Rally in snap elections announced by President Emmanuel Macron. Never before has the traditional right in French politics made any sort of political accord with the far right and Mr Ciotti’s remarks set a party that was already struggling to find a voice “on the verge of implosion” (BBC)

3. Russian air attacks cause industrial facility fire in Kyiv region, injure several: Ukrainian military said it shot down five out of six missiles and all 24 drones launched during Russia’s overnight attack. The debris damaged an industrial facility in the Kyiv region, causing a fire, Kyiv region governor said. (Reuters)

-US Events-

1. President Joe Biden’s son, Hunter Biden, is convicted of all 3 felonies in federal gun trial: Hunter Biden faces up to 25 years in prison when he is sentenced by U.S. District Judge Maryellen Noreika, though as a first-time offender he would not get anywhere near the maximum, and there’s no guarantee the judge would send him to prison. She did not set a sentencing date. (AP)

2. Crowded public bus hijacked, taken on wild high-speed chase down Atlanta freeway; 1 killed: A passenger was killed by a gunshot wound after a suspect hijacked a transit bus in metro Atlanta and led authorities on a high-speed chase into a neighboring county, police said. The chase spanned multiple jurisdictions and involved several agencies, Atlanta police said. Police employed various tactics to stop the bus, which ultimately came to a stop near 5107 Hugh Howell Road in Stone Mountain. (Fox)

3. 8 Tajikistanis with suspected ties to ISIS detained in US, source says: Eight individuals from Tajikistan with suspected ties to ISIS, who crossed into the United States from the southern border last year and this year, have been detained in Los Angeles, Philadelphia and New York City. The suspects were initially allowed to enter the U.S. after being vetted and no national security issues were uncovered, the source said. (ABC)

-Regulatory and Legal-

1. Donald Trump Commits to Championing Bitcoin Mining in DC: Donald Trump met with Bitcoin Magazine’s CEO David Bailey and several prominent U.S. Bitcoin miners. The meeting saw Trump commit to championing Bitcoin mining both in Washington D.C. and on the global stage. Among the attendees were representatives from leading Bitcoin mining firms, including CleanSpark, Riot Platforms, Marathon Digital, and other notable industry players. Trump posted on his Truth Social saying that he wants all “remaining Bitcoin to be made in the USA” and that “It would help us be energy dominant.” (BitcoinMag)

-Institutional Concerns-

1. Bitcoin Pullback to $66K Triggers $250M in Crypto Liquidations as Traders Brace for ‘Wild Wednesday’ of FOMC, CPI Report: One reason behind the pullback is investors “de-risking” from crypto assets ahead of today’s May Consumer Price Index (CPI) report and Fed meeting. Bitcoin could see a volatile session Wednesday as it has been “highly responsive” to economic data recently and its 30-day correlation with U.S. equities climbing to highest since 2022, K33 Research noted in a Tuesday market update. (CoinDesk)

-Central Bank Digital Currencies (CBDC)-

1. CBDCs’ threat to freedom put under the microscope at Oslo conference: Central bank digital currencies (CBDCs) are a source of deep concern among the public. That was made clear at last week’s Oslo Freedom Forum. While the risk of governments abusing their power is something that concerns many people, it is particularly true for those who are fighting for freedom under authoritarian regimes. (CoinTelegraph)

-Economic Indicators-

1. Saudi Arabia’s petro-dollar exit: A global finance paradigm shift: The financial world is bracing for a significant upheaval following Saudi Arabia’s decision not to renew its 50-year petro-dollar deal with the United States, which expired on Sunday, 9 June, 2024. The crucial decision to not renew the contract enables Saudi Arabia to sell oil and other goods in multiple currencies, including the Chinese RMB, Euros, Yen, and Yuan, instead of exclusively in US dollars. Additionally, the potential use of digital currencies like Bitcoin may also be considered. (BizCOmmunity)

2. US 10-Year Treasury Yield Steady, Fed and CPI Awaited: The yield on the US 10-year Treasury note was little changed around 4.4% on Wednesday, with traders bracing for today’s key CPI report and the FOMC monetary policy decision. (TradingEconomics)

-Security Incidents and Concerns-

1. Genetic testing firm 23andMe investigated over hack: The data watchdogs of the UK and Canada will investigate genetic testing company 23andMe over a data breach in October 2023. Hackers gained access to personal information of 6.9 million people, which in some cases included family trees, birth years and geographic locations, by using customers’ old passwords. (BBC)

-Technology-

1. US Air Force, Space Force Launch ChatGPT-Like AI Tool for Modernization: The AI-powered tool is called the non-classified Internet Protocol Generative Pre-Training Transformer (NIPRGPT), which supports service modernization, according to Interesting Engineering. The software will help personnel communicate, study, and code securely online. (AirForceTimes)

-Bitcoin Community-

1. Bitcoin Core Prepares for Housecleaning: Wladimir van der Laan is the most experienced of the Bitcoin Core maintainers. He stepped back in 2022 due to legal actions by Craig Wright. Only a handful of developers known as “maintainers” have the power to authorize changes to the code. They are Michael Ford, Andrew Chow, Russ Yanofsky, Gloria Zhao, and Hennadii Stepanov. The possible return of a seasoned developer might be an opportunity to restore order. Indeed, a rebellion is growing against ordinals and other Ponzi-like inscriptions that are clogging the blockchain. (CoinTribune)

-Bitcoin Sentiment-

1. Fear(0)/Greed(100) Index: 72/100 (Down 2 pts)

Analyst Comments (AC): NSTR

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Analyst: BV2A

END REPORT

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*NSTR-Nothing Significant To Report