DIB 18 APR 2024

BTC Daily Intelligence Bulletin (DIB)
Block: 839,771
DTG/ICOD: 0800EST 18Apr24
Precedence: Routine (RR)
Controls: Public Release
QQQQ
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BLUF: US Influencing Israel Ops? / Indonesian Volcano Erupts / US-China Shipbuilding Capability 1:100, Under Scrutiny / Stablecoin Legislation Entered in US Congress / Koreans buying more Crypto Than USD holders / Chinese Product Makers Spying on Customers / Binance Fully Approved in Dubai

Market Data: Price: 1 BTC= $62,446, 26.14 oz Gold, .14 Median US House
24hr Hi: $63,058/ Lo: $59,768
Vol: $44B (Up 21%)
Mkt Cap: $1.23T (Even)
HashRate: 582 EH/s
Avg Fees: 19,933 sats/tx (Down 55%)
Nodes: 18,813

—Reports—
-International Events-
1. US approves Rafah Op in exchange for no Israeli counter-strikes on Iran: A senior official told The New Arab that “Prime Minister Benjamin Netanyahu managed to obtain American approval for a military operation in Rafah, in exchange for [Israel] refraining from carrying out a wide military operation against Iran in response to its recent attack.” (JPost)

2. Indonesian volcano eruption forces evacuations, airport closure: Wednesday’s dramatic eruption of the volcano on a remote island in the province of North Sulawesi threw a fiery-red column of lava, incandescent rock and ash as much as three km into the sky. (reuters)

3. Biden administration to end sanctions waiver on Venezuelan oil: The Biden administration says Venezuelan President Nicolás Maduro does not intend to hold free and fair elections. Six months after lifting U.S. sanctions on Venezuela’s key oil and gas sectors, the Treasury Department announced Wednesday it will let those temporary licenses expire — saying Maduro’s government did not uphold its end of the bargain. (ABC)

-US Events-
1. Senate kills articles of impeachment against Mayorkas: The blink-and-you-missed-it trial marked the culmination of an effort hatched by House Republicans seeking to cast the limelight on the Biden administration’s handling of the southern border ahead of the general election. (CNN)

2. Widespread 911 Outages Are Reported in Four States: Residents in parts of South Dakota, Nebraska, Texas and Nevada were unable to call the emergency number, officials said. Service was later restored in Las Vegas, Nebraska and South Dakota. (NYT)

3. Investigation launched into Chinese shipbuilding’s impact on national security, U.S. jobs: The White House said Wednesday it has launched an investigation into China’s shipbuilding industry for alleged practices that undermine national security and jobs in Wisconsin and other states. Chinese state-owned enterprises and other facilities are now capable of building more than 1,000 ocean-going vessels a year, while the United States produced only around 10 last year. “China has tried to rig the system with unfair trade practices”, officials said. (MilwaukeeJS) (AC-Modern union power has consequences)

-Regulatory and Legal-
1. Stablecoins Get A Seat At The Table: US Senators Unveil New Regulations: US Senators Kirsten Gillibrand and Cynthia Lummis have unveiled the Lummis-Gillibrand Payment Stablecoin Act. The legislation, which has been in the works for months, seeks to establish a comprehensive regulatory framework for payment stablecoins, addressing concerns surrounding their use and potential risks. (Bitcoinist) (AC-The devil is in details and negotiating amendments which are yet to be revealed)

-Institutional Concerns-
1. BlackRock Adds $72.8 Million Worth of Bitcoin Before Halving: According to crypto analysis firm LookOnChain, BlackRock has added another 1,162 Bitcoin, worth $72.82 million. The world’s largest asset manager currently holds 272,139 BTC, worth $17.06 billion. While BlackRock has increased its BTC holdings, Grayscale has reduced its BTC exposure by 2,524 BTC, worth $158.21 million. Grayscale currently holds 311,621 BTC, worth $19.53 billion. (Watcher)

-Central Bank Digital Currencies (CBDC)-
NSTR

-Economic Indicators-
1. Korean won surpasses US dollar as most-traded currency for crypto in Q1: The cumulative won trade volume on centralized crypto exchanges during the period recorded $456 billion, while the U.S. dollar reported $445 billion, the data showed. (TheBlock)

2. US 10-Year Treasury Yield Eases from 2024-Highs: The US 10-year Treasury note yield eased to 4.57% after touching a 2024-high of 4.7% early in the week (TradingEconomics)

3. Mortgage Rates at 4-Month High: The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances rose by 12bps to 7.13% in the week ended April 12th, 2024, reaching the highest level since early December. (TradingEconomics)

-Security Incidents and Concerns-
1. Chinese manufacturer exposes data from surveillance devices: Raysharp, a Chinese manufacturer of video cameras, recorders, and other surveillance products, has suffered a data leak that exposed its devices. Cybernews researchers have discovered three billion records in a leaking database from the company’s analytics platform. (CyberNews) (AC-Surveillance devices made in China are often much cheaper than those in the US or Japan, but data from those devices are obviously being used to spy on its customers)

-Bitcoin Community-
1. Binance Secures Full Virtual-Asset Services Provider License in Dubai: “As we secure the esteemed full market VASP Licence, it notably amplifies our unwavering commitment to advancing the financial landscape through compliance and innovation,” CEO Richard Teng said in a statement. (CoinDesk)

2. Bitcoin Depot Deploying Over 60 ATMs to Major Grocery Chain: The world-leading Bitcoin ATM network has announced that 60 of its ATMs are set to be deployed in the fastest-growing grocery chain in the country, Fareway, which features more than 130 stores in the Midwestern United States. (watcherGuru)

-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 57/100 (Down 10 pts)

Analyst Comments (AC): NSTR

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