DIB 13 SEP 2024

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BTC Daily Intelligence Bulletin (DIB)
Block: 861,141
DTG/ICOD: 1200Z 13Sep24
Precedence: Routine (RR)
Controls: Public Release
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BLUF: Putin Threatens Global War of Long-Range Missiles, Expels UK Diplomats / Russian Counteroffensive in Kursk Begins / US Announces China Tariffs / Boeing Goes on Strike / BRICs Gains, Hint at Paramilitary Org. / Trump Family Launches Crypto Alternative / OpenAI Launches Advanced Reasoning Model / Billionaire Spacewalks with SpaceX / BTC Mining Difficulty at ATH

Market Data: Price: 1 BTC= $58,087, 22.66 oz Gold, .13 Median US House
24hr Hi: $58,534 / Lo: $57,247
Vol: $29B (Down 20%)
Mkt Cap: $1.15T (Even)
HashRate: 624 EH/s
Avg Fee Rate: 3 sats/vBtye (Down 25%)
Nodes: 19,159

—Reports—
-International Events-

  1. Putin threatens NATO amid reports of long-range weapons being allowed to strike inside Russia: Russian President Vladimir Putin claimed that NATO is escalating a direct war with Russia as the U.S. and Britain discuss allowing NATO-provided weapons to be used by Ukraine to strike targets inside Russia. “This would in a significant way change the very nature of the conflict,” Putin said on Thursday. “It would mean that NATO countries, the US, European countries, are at war with Russia.” (TheHill)
  2. Russia expels six UK diplomats as tensions rise over Ukraine missiles: Russia’s FSB security service said on Friday it had revoked the accreditation of six British diplomats in Moscow after accusing them of spying and sabotage work, signalling the Kremlin’s anger at what it sees as London’s vital role in helping Ukraine. (Reuters)
  3. Russian counteroffensive in Ukrainian-controlled Kursk begins, says Zelensky: Ukrainian President Volodymyr Zelensky announced Thursday that Russia had launched a counteroffensive to take back the parts of its Kursk region occupied by Ukrainian forces last month. In the past two days, though, the Russian Defense Ministry said that its troops had reclaimed 10 settlements in the region. (WaPO)

-US Events-

  1. US locks in steep China tariff hikes, many to start Sept. 27: The Biden administration on Friday locked in steep tariff hikes on Chinese imports, including a 100% duty on electric vehicles, to strengthen protections for strategic domestic industries from China’s state-driven excess production capacity. The U.S. Trade Representative’s office told Reuters that many of the tariffs, including a 100% duty on Chinese EVs, 50% on solar cells and 25% on steel, aluminum, EV batteries and key minerals, would go into effect on Sept. 27. (Reuters)
  2. Boeing Union Goes On Strike, Halting 737 Production: Thousands of machinists who build Boeing’s 737, 777 and 767 jets walked off the job shortly after midnight Pacific time Friday, after rejecting a labor deal struck between the union’s leaders and Boeing’s executives. The contract offered 25% wage increases over four years. (WSJ)

-Regulatory and Legal-
NSTR

-Central Bank Digital Currencies-

  1. BRICS Gains Global Appeal as 34 Countries Show Interest, Putin Reveals: Putin was quoted by Tass as saying, “We cannot ignore the growing interest in BRICS on the part of many countries. As of today … 34 countries, to be precise, have already expressed interest in joining the activities of our group in one form or another. The Russian president recently expressed confidence that the BRICS economic bloc will establish its own parliamentary organization in the future. (BitcoinCom) (AC-This last statement shows the normal progression of global power competition. First is economic alignments and trade, then financial and currency standardization, then military power to protect the union. )

-Institutional Concerns-

  1. Donald Trump Announces World Liberty Financial Launch — ‘We’re Embracing the Future With Crypto’: Former U.S. President Donald Trump has announced the launch of his family’s cryptocurrency platform, World Liberty Financial, positioning it as an alternative to traditional banks. He encouraged users to join a live event on X next Monday. “We’re embracing the future with crypto and leaving the slow and outdated big banks behind,” Trump said. (BItcoinCOm) (AC-Interesting timing and trajectory of this effort. Bitcoiners might scoff at this effort, so might legacy financial institutions, but let’s see what details emerge first.)

-Economic Indicators-

  1. US Producer Prices Rise More than Expected: Factory gate prices in the US increased 0.2% mom in August 2024, following a downwardly revised flat reading in July and above forecasts of 0.1% (TradingEconomics)
  2. US 10-Year Yield Remains Under Pressure: The yield on the US 10-year Treasury held around 3.65% on Friday, hovering near its lowest levels since May 2023 amid growing speculation that the Federal Reserve could deliver a more aggressive rate cut next week. Markets are currently assigning a 57% chance that the Fed will deliver a 25 basis point rate cut, with a 43% odds seen for a larger 50 bps reduction, according to CME’s FedWatch Tool. (TradingEconomics)

-Security Incidents and Concerns-

  1. New Linux Malware Campaign Exploits Oracle Weblogic to Mine Cryptocurrency: The activity, which specifically singles out the Oracle Weblogic server, is designed to deliver a malware strain dubbed Hadooken, according to cloud security firm Aqua. “When Hadooken is executed, it drops a Tsunami malware and deploys a crypto miner,” security researcher Assaf Moran said. (HackerNews)

-Technology and Science-

  1. OpenAI releases o1 model with human-like reasoning: OpenAI is releasing a new artificial intelligence model known internally as “Strawberry” that can perform some human-like reasoning tasks, as it looks to stay at the top of a crowded market of rivals. The new model, called o1, is designed to spend more time computing the answer before responding to user queries, the company said in a blog post Thursday. With the model, OpenAI’s tools should be able to solve multi-step problems, including complicated math and coding questions. (Fortune)
  2. First Commercial Spacewalk: Billionaire Jared Isaacman Leads Polaris Dawn Mission, Praises Earth’s Beauty From Above: In a big move for private space travel, two astronauts did the first-ever spacewalk paid for by a business on the Polaris Dawn trip. They wore new slimmer SpaceX spacesuits. Billionaire Jared Isaacman put money into this project, hoping to explore new limits in space without needing the government. The end goal? Cheaper and easier space trips. (TechTimes)

-Bitcoin Community-

  1. Bitcoin Mining Difficulty Surges: Miners Face Toughest Conditions Yet: The difficulty in mining Bitcoin has surged to a new record level, hence squeezing profit margins. Reaching 92.67 trillion, the difficulty index exceeded the previous record peak of 90.67 trillion set in July this year. This 3.6% rise represents the increased competitiveness resulting from record-breaking hashrate values. It emphasizes how resilient and secure the network is becoming since mining Bitcoin calls for more computational capability. (Bitcoinist)
  2. Bitcoin and Crypto Exchange HTX To Integrate Lightning Network: HTX, one of the largest Bitcoin and crypto exchanges globally, announced it will be integrating the Bitcoin Lightning Network in partnership with Bitcoin firm IBEX. With over 45 million registered users, HTX is a leading Bitcoin and crypto platform in Asia and worldwide based on trading volume and Bitcoin custody. The exchange now plans to incorporate Lightning Network capabilities into its ecosystem. (BitcoinMag)

-Bitcoin Sentiment-

  1. Fear(0)/Greed(100) Index: 32/100 (Up 1 pts)

Analyst Comments (AC): Quite a bit of news articles today are focused on Russia, with Putin’s response to the possibility of Ukraine using US and UK long-range missiles on Russia, the counteroffensive in Kursk and the rising power of BRICS. It could be simply newsworthy information coming to light today or another option could be the media’s concerted effort to portray Russia as a unifying opponent right before a critical US election. The fear being stoked could also be used to delay or subvert the election process in one way or another. Look for ‘interpretations’ of the Russia information on mainstream media over the next week for clues.

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

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