DIB 27 NOV 2024

BTC Daily Intelligence Bulletin (DIB)
Block: 872,202
DTG/ICOD: 1200Z 27Nov24
Precedence: Routine (RR)
Controls: Public Release
QQQQ
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BLUF: Israel-Hezbollah Ceasefire Begins / Drones Spotted Over US Bases in UK Again / EU Social Media Regulator to Establish Truth in Romanian Elections / Trump-Biden Sign Transition MOU / MAHA Team Coming Together / Tornado Cash Case Dropped / Trump Eyes CFTC To Oversee Crypto Instead of SEC / Rwanda Bank to Regulate Crypto / US National Debt Hits $36T / US Stocks Up, BTC Down / Crypto Gives Low-Income Greater Chance for Homeownership / NASA Finds Cold-War Base in Greenland / Trump Eyes AI Czar / New BTC Hodlers Aren’t

Market Data: Price: 1 BTC= $93,672, 35.34 oz Gold, .22 Median US House
24hr Hi: $94,702 / Lo: $90,770
Vol: $76B (Down 22%)
Mkt Cap: $1.86T (Up 1%)
HashRate: 735 EH/s
Avg Fee Rate: 8 sats/vBtye (Down 33%)
Nodes: 19,032

—Reports—
-International Events-
1. As Israel-Hezbollah ceasefire begins, residents in packed cars return to south Lebanon: A ceasefire between Israel and the Lebanese militant group Hezbollah appeared to be holding, as residents in cars heaped with belongings streamed back toward southern Lebanon despite warnings from the Israeli and Lebanese military that they stay away from certain areas. The agreement calls for a two-month initial halt in fighting and would require Hezbollah to end its armed presence in a broad swath of southern Lebanon, while Israeli troops would return to their side of the border. If Hezbollah breaks the agreement and tries to rearm, we will attack,” said Prime Minister Benjamin Netanyahu. “For every violation, we will attack with might.” (AP)

2. British forces deployed after drones spotted again over three US air bases in UK: Since last Wednesday, small drones have been spotted in England near the RAF Lakenheath, RAF Mildenhall, RAF Feltwell and RAF Fairford, the US Air Force in Europe announced. (KronenZeitung) (AC-No attribution has been announced.)

3. Romania asks EU to investigate TikTok’s election handling after ultranationalist’s stunning win: Romanian officials have alarmed the European Union’s powerful social media regulator about irregularities on TikTok during the first round of the national presidential election. A top EU lawmaker demanded on Tuesday that TikTok’s chief executive appear before the European Parliament to answer questions, and Romanian NGOs have urged the Commission to look into whether TikTok and other platforms complied with Europe’s social media laws. (Politico) (AC-Straight out of Orwell’s ‘Ministry of Truth” paradigm, there can only be one source of truth, especially when it comes to elections.)

-US Events-
1. Trump Team Officially Signs Transition Agreement with Biden White House to Formalize Transition — Will Be Privately Funded and Will Not Use Government Technology or Buildings: This bold decision reflects Trump’s commitment to saving taxpayers’ money while avoiding the pitfalls of entrenched bureaucracy and potential interference from the “Deep State.” The MOU signed with the Biden administration allows Trump’s team to access non-public government information, receive briefings, and deploy transition personnel to federal agencies. (GatewayPundit)

2. Trump names COVID lockdown critic Dr. Jay Bhattacharya as pick for NIH director: “Together, Jay and RFK Jr. will restore the NIH to a Gold Standard of Medical Research as they examine the underlying causes of, and solutions to, America’s biggest Health challenges, including our Crisis of Chronic Illness and Disease,” Trump said in the statement. “Together, they will work hard to Make America Healthy Again?”, Trump said. (ABC)

-Regulatory and Legal-
1. Tornado Cash Case: Appeals Court Says Treasury OFAC ‘Overstepped’ Authority In Sanctions Move: Tornado Cash just had a major legal victory after an Appeals Court called on the United States to drop sanctions against the crypto anonymizing tool, also adding that the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) committed an overreach of authority in the case. (Various)

2. Trump Reportedly Eyes CFTC To Wield Lead Regulatory Hand In Crypto: The Trump administration is looking to give authority to the CFTC to regulate the spot market for Bitcoin and other altcoins, a new report revealed. If given the authority to oversee digital assets and cryptocurrencies, the CFTC may regulate tokens deemed commodities, as well as crypto exchanges, the report noted. There are also reports stating Trump is considering a new role that will focus entirely on crypto policy, which could then turn the tides in favor of the burgeoning industry. (IBTimes)

3. Rwanda Preparing to Regulate Cryptocurrencies: ‘Cannot Get Rid of Them,’ Says Governor: Rwanda is poised to implement regulations governing the use and trade of cryptocurrencies, according to John Rwangomba, governor of the National Bank of Rwanda (NBR). This disclosure came in response to a lawmaker’s inquiry about the central bank’s stance on Bitcoin. While Rwangomba’s response did not explicitly endorse cryptocurrency, it marked a shift from the NBR’s previous public pronouncements. (BitcoinCom)

-Central Bank Digital Currencies/World Currencies-
1. US National Debt Reaches $36 Trillion: Biden’s administration has seen debt numbers rise from $28 trillion to more than $36 trillion, growing by over $8 trillion in just three years. Analysts have stated that these constant debt increases are very significant to the future of bitcoin, claiming that if the U.S. finally adopts a strategic bitcoin reserve, it can reset the world’s economy. Samson Mow, CEO of JAN3, has also linked the debt rise to a possible bitcoin rebase of the national currency. “Either there’s going to be a debt jubilee or the U.S. dollar has to rebase to bitcoin. (BitcoinCom) (AC-For perspective, the interest payments on this debt now outpace all US defense expenditures.)

-Institutional Concerns-
NSTR

-Economic Indicators-
1. S&P 500, Dow Close at Fresh Records: The S&P 500 gained 0.6% and reached a new record high on Tuesday, along with the Dow, which rose 118 points. The Nasdaq also saw a 0.6% increase as markets continued to weigh the potential effects of trade barriers following tariff threats from President-elect Donald Trump. (TradingEconomics)

2. Fed To Adopt Gradual Rate Cuts: Federal Reserve officials conveyed optimism that inflation is subsiding and the labor market remains robust, supporting the possibility of further interest rate cuts, though at a measured pace, minutes from November 6-7 meeting showed. (TradingEconomics)

3. Crypto windfalls boost homeownership dreams for low-income Americans: Low-income households in the United States are turning crypto profits into opportunities for homeownership, as revealed by a Nov. 26 report from the Office of Financial Research (OFR), a US Treasury Department research arm. “For low-income households, average mortgage debt balances and mortgage-holding rates sharply increased in zip codes with high crypto exposure. This indicates that low-income households may be using crypto gains to take out new mortgages and to take out larger mortgages.” (CryptoSlate)

-Security Incidents and Concerns-
NSTR

-Technology and Science-
1. NASA aircraft uncovers site of secret Cold War nuclear missile tunnels under Greenland ice sheet: NASA scientists conducting surveys of arctic ice sheets in Greenland got an unprecedented view of an abandoned “city under the ice” built by the U.S. military during the Cold War. As it turns out, this abandoned “secret city” was the site of a secret Cold War project known as Project Iceworm which called for the construction of 2,500 miles (4,023 km) of tunnels that could be used to launch nuclear intermediate range ballistic missiles (IRBMs) at the Soviet Union. (SpaceCom)

2. Donald Trump Eyes AI Czar In White House: A report on Tuesday revealed that Trump is making this decision to coordinate federal policy and the governmental use of this emerging technology. Simultaneously, the report indicated that Elon Musk will not be in the mentioned AI role but is expected to be involved in shaping the future and use cases of the model. (CoinGape)

-Bitcoin Community-
1. Bitcoin $2B daily profit-taking involves mostly new hodlers: Examining cumulative realized profit delineated by age group, researchers confirmed that profit-taking has broadly been confined to entities hodling coins between six and 12 months. “Coins aged between 6 months and 1 year dominate the prevailing sell-side pressure, accounting for 35.3% of the total,” GlassNode reported. (AC-They are not hodlers if they aren’t hodling.) (CoinTelegraph)

-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 75/100 (Down 4 pts)

Analyst Comments (AC): “Gratitude is the single most important ingredient to living a successful and fulfilled life.” -Jack Canfield

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