DIB 29 OCT 2024

BTC Daily Intelligence Bulletin (DIB)
Block: 867,922
DTG/ICOD: 1200Z 29Oct24
Precedence: Routine (RR)
Controls: Public Release
QQQQ
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BLUF: Gaza Strike By IDF Kills 60 / Georgia Elections Protested / WaPo Declines to Endorse, Cancellations Ensue / US Running Low on Missile Defenses / Hong Kong Looks to Attract Crypto Investment / BRICS, SCO Align to Increase Economic Power / Emory Univ. Discloses BTC ETF Investment / MSTR Outpaces BTC in 2024 / Bhutan to Sell Some BTC Stash / Russia Targets Telegram With Malware / Indonesia Says No Apple Allowed / Bitcoin Miner Stock Spike

Market Data: Price: 1 BTC= $71,195, 25.88 oz Gold, .16 Median US House
24hr Hi: $71,542 / Lo: $68,409
Vol: $49B (Up 107%)
Mkt Cap: $1.41T (Up 3%)
HashRate: 736 EH/s
Avg Fee Rate: 14 sats/vBtye (Up 460%)
Nodes: 19,492

—Reports—
-International Events-
1. Israeli strike in northern Gaza kills at least 60, officials say, as Hezbollah announces new leader: An Israeli strike on a five-story building where displaced Palestinians were sheltering in the northern Gaza Strip killed at least 60 people early Tuesday. In a separate development, Lebanon’s militant group Hezbollah said it has chosen Sheikh Naim Kassem to succeed longtime leader Hassan Nasrallah, who was killed in an Israeli airstrike last month. Hezbollah vowed to continue with Nasrallah’s policies “until victory is achieved.” (AP)

2. US raises alarm over Georgia’s (The country) elections: The U.S. and European allies are raising alarm over Georgia’s elections, where the Russian-friendly ruling party Georgian Dream (GD) claimed victory over opposition parties that have refused to recognize the results, accused the Kremlin of meddling and called for mass protests. Tens of thousands of Georgians have since massed outside parliament Monday night, demanding the annulment of the weekend parliamentary election. (TheHill/AP)

-US Events-
1. Washington Post hit with over 200K cancellations after move to block Harris endorsement: More than 200,000 Washington Post readers have reportedly canceled their subscriptions in the three days since the Jeff Bezos-owned publication decided against endorsing a presidential candidate in the 2024 election. “Presidential endorsements do nothing to tip the scales of an election,” Bezos wrote. “No undecided voters in Pennsylvania are going to say, ‘I’m going with Newspaper A’s endorsement.’ None. What presidential endorsements actually do is create a perception of bias.” (NYPost)

2. Pentagon Runs Low on Air-Defense Missiles as Demand Surges: Interceptors are fast becoming the most sought-after ordnance during the widening crisis in the Middle East, as Israel and other U.S. allies face an increasing threat from missiles and drones fired by Iran and the militias it supports. The Pentagon worries it could run through its inventory faster than it can replace them, leaving the U.S. vulnerable in a potential conflict in the Pacific, analysts and officials said. (WSJ)

-Regulatory and Legal-
1. Hong Kong Unveils Regulation Roadmap, Hints at New Cryptocurrency Incentives: The government of Hong Kong is on the verge of completing stablecoin regulations to become a more friendly hub for cryptocurrency investments. In addition, authorities stated that they have been considering extending crypto tax cuts to more investors. (BitcoinCom)

-Central Bank Digital Currencies/World Currencies-
1. BRICS, SCO Align on Unified Payment System to Reduce Dollar Reliance: Shanghai Cooperation Organization (SCO) Secretary-General Zhang Ming detailed efforts to create a unified payment system among SCO member states on Monday. Formed in 2001, the SCO is a regional alliance focused on security, economic collaboration, and political stability among Eurasian countries, including China, Russia, and India. The organization shares objectives with BRICS, as both seek to promote multipolarity and reduce Western economic influence. (BitcoinCom)

-Institutional Concerns-
1. Emory Is First University to Disclose Bitcoin ETF Holding: Emory University disclosed owning over $15 million in Grayscale Bitcoin Mini Trust shares, becoming the first endowment to publicly report bitcoin exposure. With $21 billion in total assets, Emory’s move into bitcoin ETF is significant among risk-averse endowment funds. (CoinDesk)

2. MicroStrategy’s leveraged bitcoin strategy has its stock outpacing BTC this year: Microstrategy, which trades under the ticker MSTR, has seen its share price rise nearly 250% year-to-date. At the time of writing, Bitcoin has a 60% year-to-date return, compared to the nearly 4X higher return provided by MSTR. (TheBlock)

3. Bitcoin records over $880 million net inflows in 2 days as Bitcoin broke $71k (CryptoSlate)

4. Bhutan Govt Dumps Over $66 Million in BTC to Binance: Royal Government of Bhutan deposited 929 BTC to crypto exchange Binance, an on-chain data expert reported on Tuesday. Bhutan govt now holds 12,456 BTC, which is valued at $886.58 million. As per the blockchain analytics firm Arkham recent findings Bhutan ranks fourth globally in terms of government holdings of Bitcoin. (CoinGape)

-Economic Indicators-
1. Bitcoin Hits $70,000 on Huge ETF Inflows: Bitcoin hit the key $70,000 mark this week for the first time since June, driven by strong inflows into US spot Bitcoin exchange-traded funds. Industry data showed that US-based Bitcoin funds recorded inflows of over $3 billion over the past two weeks, bringing year-to-date inflows to over $25 billion. (TradingEconomics)

2. US Stocks Rise, Earnings and Key Data Eyed: Stocks in the US were higher on Monday, with the S&P 500 rising 0.5%, the Dow Jones adding 280 points and the Nasdaq increasing 0.6% as traders got some relief after Israeli airstrikes against Iran did not target oil or nuclear facilities as initially feared. At the same time, investors brace for a busy week of earnings with five of the “Magnificent Seven” megacaps Apple, Microsoft, Meta, Amazon and Alphabet due to report quarterly results. (TradingEconomics)

-Security Incidents and Concerns-
1. Russian Espionage Group Targets Ukrainian Military with Malware via Telegram: A suspected Russian hybrid espionage and influence operation has been observed delivering a mix of Windows and Android malware to target the Ukrainian military under the Telegram persona Civil Defense. (HackerNews)

-Technology and Science-
1. Indonesia Makes iPhone 16 Use, Sale Illegal as Apple Fails to Invest in the Country: Indonesia deemed that iPhone 16’s sale and use in its country is now illegal, and Apple is now facing a ban to its products in the Southeast Asian country after a recent falling out between both entities. It was revealed that Apple failed on its investment promises where the Cupertino tech giant was not able to pay off the entire sum that they promised to the country, as part of their original pledge. (TechTimes)

-Bitcoin Community-
1. Bitcoin mining stocks rocket 24% on macro climate, AI play: Share prices of Bitcoin miners soared as much as 24.4% on Oct. 28 as Bitcoin rallied above $70,000 — with an analyst pointing to an increasingly favorable macroeconomic climate and miners’ continued diversification into AI. (CoinTelegraph)

-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 72/100 (Even)

Analyst Comments (AC): NSTR

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