DIB 12 NOV 2024

BTC Daily Intelligence Bulletin (DIB)
Block: 869,993
DTG/ICOD: 1200Z 12Nov24
Precedence: Routine (RR)
Controls: Public Release
QQQQ
__________________________
BLUF: Global Carbon Deal at COP29 / Driver Kills 35 in China / Marco Rubio as SecState / AZ Senate Seat Called for Dem Gallego / US House Still Up for Grabs / Chinese National Arrested at Mar-a-Lago / Sen Lummis Pushes for BTC Reserve in First 100 Days / New Records for BTC ETFs / COIN Up, MSTR Up / Bitcoin Market Cap Overtakes Silver / Amazon Employee Data Breached / Video Now Available on Signal App / Porter Hints at Nation-State Game Theory / MARA Positions for BTC ‘Made in USA’ / New Bitcoin Documentary

Market Data: Price: 1 BTC= $86,133, 33.04 oz Gold, .20 Median US House
24hr Hi: $89,956 / Lo: $81,611
Vol: $157B (Up 97%)
Mkt Cap: $1.7T (Up 5%)
HashRate: 730 EH/s
Avg Fee Rate: 8 sats/vBtye (Down 28%)
Nodes: 19,455

—Reports—
-International Events-
1. Global carbon trading deal agreed even as US warns climate fight may be on ‘back burner’: A deal to launch multibillion-dollar carbon markets governed by UN rules on emissions has been agreed at the COP29 climate summit, as countries attempt to show the fight against climate change will persist despite last week’s election of Donald Trump. Even if Trump quits the Paris Agreement, US companies could buy and sell carbon credits under a UN system to meet their climate targets and to contribute to climate finance goals. (FT)

2. 35 dead as a driver hits a crowd at sports center in a southern Chinese city: A driver killed 35 people and severely injured another 43 when he deliberately rammed his car into people exercising at a sports center in the southern Chinese city of Zhuhai, police said Tuesday. Police had detained a 62-year-old man at the sports center in the southern Chinese city of Zhuhai following the ramming late Monday, on the eve of the country’s premier aviation exhibition by the People’s Liberation Army that’s hosted annually in the city. (AP)

-US Events-
1. Trump expected to tap Marco Rubio for secretary of state: Donald Trump is expected to tap U.S. Senator Marco Rubio to be his secretary of state, sources said on Monday, putting the Florida-born politician on track to be the first Latino to serve as America’s top diplomat once the Republican president-elect takes office in January. (Reuters)

2. Democrat Ruben Gallego beats far-right Kari Lake to win Arizona Senate seat: In the end, he edged out Lake with 50% of the vote to her 48%, while Trump easily beat Harris in the state. After Gallego’s win, Democrats will have 47 seats in the 100-member Senate, versus the Republicans’ 53, erasing Democrats’ previous majority in the chamber. (Guardian)

3. House majority hinges on 18 uncalled races, with Republicans just 4 seats away (Fox)

4. Chinese National Arrested Again After Multiple Efforts To Enter Mar-a-Lago: Li Zijie, a 39-year-old living in suburban Los Angeles on a student visa, allegedly arrived at the Trump property in an Uber on the afternoon of Nov. 7—the latest in a number of attempts he has made to get into the resort in the past few weeks. (ZeroHedge)

-Regulatory and Legal-
1. US Bitcoin reserve asset bill could pass in Donald Trump’s first 100 days – Senator Cynthia Lummis: “I believe we can get this done with bipartisan support in the first 100 days IF we have the support of the people. It is a game changer for the solvency of our nation. Let’s put America on sound financial footing and pass the Bitcoin Act!”, she posted on x. (CryptoSlate)

-Central Bank Digital Currencies/World Currencies-
1. Trump’s Pro-Bitcoin Stance May Accelerate Digital Asset Adoption in Inflation-hit Latin America: Experts believe that Donald Trump’s election victory and crypto-friendly policies could boost digital asset adoption in Latin America, where stablecoins and Bitcoin are already popular for shielding against inflation and facilitating remittances. Regional exchanges are experiencing increased crypto activity as the President-elect’s pro-Bitcoin stance resonates in economies affected by inflation. (BitcoinCom)

-Institutional Concerns-
1. Record Breaking Volume for Blackrock ETF as Bitcoin Keeps Hitting New All Time Highs: Blackrock’s IBIT saw a record breaking $4.5 billion in daily trading volume on November 11. (BitcoinCom)

2. Coinbase Shares Surge As Bitcoin Hits New Highs, Analysts Forecast More to Come: Bitcoin has been setting new records, with Coinbase shares rising nearly 20% in the past 24 hours and almost 84% over the last month. Analysts predict a high price target of $380 for the stock over a 12-month period. (Decrypt) (AC-Although the BTC holdings of Coinbase are marginal compared to MSTR or other institutional treasuries, the business case for Coinbase is strong as an exchange and custody company.)

-Economic Indicators-
1. BTC Market Cap Soars Past Silver as Bitcoin (BTC) Hits $89,000 Milestone: Bitcoin has overtaken silver’s market capitalization for the second time in 2024, reaching $1.75 trillion amid record trading volumes and strong institutional demand. (Blockonomi)

2. US Consumer Sentiment Highest in 7 Months: The University of Michigan consumer sentiment for the US increased to 73 in November 2024, the highest in seven months, compared to 70.5 in October and above forecasts of 71, preliminary estimates showed. However, the reading do not capture any reactions to election results. (TradingEconomics)

3. Dow Closes at Fresh Record: The blue-chip Dow rallied 304 points to close at 44,293 for the first time on Monday, continuing its post-election rally, driven by optimism around Donald Trump’s potential return to the White House and expectations of deregulation and tax cuts. (TradingEconomics)

-Security Incidents and Concerns-
1. Amazon Confirms Employee Contact Info Stolen Through Hack: Employee data stolen from last year’s MOVEIt breach has been posted on a well-known hacking forum, including details on up to 2.8 million Amazon workers. (PCMag)

-Technology and Science-
1. Signal gets new video call features, making it a viable alternative to Zoom, Meet and Teams: Privacy-focused messaging app Signal is adding new features for video calls, including links, reactions and a calls tab, in a bid to pose as an alternative to Zoom, Google Meet and Microsoft Teams. The highlight of the update is a new “Calls” tab, which lets you make new calls, manage call links, and check your call history. (TechCrunch)

-Bitcoin Community-
1. Satoshi Action Fund’s Dennis Porter Heralds the Arrival of Nation-State Hyperbitcoinization: Dennis Porter, the co-founder of the Satoshi Action Fund, has recently revealed that several nations have contacted him to help establish a national bitcoin reserve. He stated that hyperbitcoinization at a nation-state level is advancing “faster than expected.” (BitcoinCom)

2. Made in USA: Mara Expands Mining Capacity, Bets Big on Bitcoin’s American Future: Mara, a publicly traded, U.S.-based mining conglomerate listed on Nasdaq, has announced a new expansion of its Bitcoin mining sites in the country. Two sites have already been acquired, and one is in development in Ohio, which will provide the company with 372 megawatts that will be fully energized by 2025. (BitcoinCom)

3. Watch the new documentary PAID IN BITCOIN: BTCPay Server has just released a new documentary covering the use of bitcoin as a means of exchange this summer during the Bitcoin 2024 in Nashville. The documentary by Parker Worthington (@webworthy) takes a look at the behind the scenes set up of both BTCPay Server and Strike with merchants around the conference venue, documenting the use of bitcoin as a real payment tool during the course of the conference. (BitcoinMag) (AC-The video is available on YouTube)

-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 80/100 (Up 4 pts)

Analyst Comments (AC): NSTR

Follow us on NOSTR: npub1qktts9naunvjdwsktq5xjdhwh539xt4x0mqj4yxq0q9dvm03ljvs6sms0r
____________________
Analyst: BV2A
END REPORT
NNNN
*NSTR-Nothing Significant To Report