Welcome fren,

State of the Market. Bitcoin’s Not-So-Happy Hour 🍸

Bitcoin and the crypto squad took a nosedive after news of Israel’s attack on Iran—apparently, even BTC isn’t immune to global tension. While Bitcoin dropped a solid 2%, some altcoins like Solana (SOL) lost over 6%. Guess they didn’t get the memo that crypto’s supposed to be uncorrelated. 🙄

Oh, and Tether is back in the spotlight! With the U.S. Department of Justice sniffing around for an investigation, Tether’s been throwing a mini tantrum with a minor de-peg. They shrugged off the rumors, but investors aren’t loving the idea of a shaky stablecoin when it’s, well, the coin holding a ton of liquidity in the market. Will Tether stand tall, or is this the plot twist nobody asked for? 🥴

Bitcoin Bulls: Still Hanging Tight. Analysts say if BTC stays above $66,500, the bulls are still calling the shots. Hovering above the major moving averages, Bitcoin’s next playground could be $73,679 if it decides to shake off the jitters. But heads up: recent bearish hints, like an engulfing pattern and a sky-high RSI, could mean a bit of a pit stop is on the horizon. Yet, if BTC keeps climbing, we just might be back in ATH territory. 🐂💪

The Microsoft/MicroStrategy Cliffhanger 🤷‍♂️

Next week is shaping up to be a rollercoaster for the markets! 🎢 With major players like Google, Microsoft, and Amazon ready to unveil their earnings reports, we could be in for some wild swings. Throw in MicroStrategy also stepping up to the plate, and it’s clear that the excitement is just getting started.

But wait, there's more! Microsoft is putting the decision to a vote on whether to include BTC on its balance sheet. Talk about a potential FOMO moment! 💸

Chart of the Day. Bitcoin ETFs: Gobbling Up BTC Faster Than It’s Mined 🍽️💸

October was a monster month for U.S. Bitcoin ETFs, which snapped up 45,000 BTC—that’s five times more than the freshly minted Bitcoin supply. The buying frenzy has pushed ETF holdings to just shy of 1 million BTC, a stash rivalling the legendary supply held by Satoshi Nakamoto. Apparently, ETFs want their own claim to crypto fame. 🙃

Market on Edge: Big Players, Bigger Moves 🏦

Here’s the kicker: with ETFs locking down such a substantial chunk of the limited Bitcoin pie, analysts are sounding the alarm on price volatility. When ETFs move, the whole market could feel it—hard. Inflows could pump prices up, but outflows? They might be sending us straight into a tailspin. 🍿

The Scarcity Factor: Fixed Supply, Growing Appetite 📈

With Bitcoin’s hard-capped supply, every extra BTC scooped up by ETFs tightens the market. Analysts caution that as demand increases, we may see more price whiplash. Bitcoin might be unshakeable, but its price? Not so much.

Most Important News of the Day.

If Microsoft does decide to join the crypto crowd, expect them to go the ETF route. No messy wallets or direct holdings here—just tidy shares in Bitcoin spot ETFs. Because why risk a rogue transaction when ETFs are so corporate-friendly? 😆

This think tank isn’t messing around. They’re nudging Microsoft and other heavyweights like Tesla and Goldman Sachs to consider Bitcoin investments. Because nothing says stability like the company that once made Clippy now holding digital gold. 📈💼

Who knew academia would jump into crypto? Emory’s $15 million in Grayscale Bitcoin Trust shows that higher education might be taking more risks than just deciding on tenure. Institutional confidence in crypto is growing, one mini-trust at a time. ⚖️

Retail investors are dominating spot Bitcoin ETF demand, owning 80% of the action and driving consistent inflows. Who needs whales when retail investors are carrying the ETF torch? 🔥

Spot Bitcoin ETFs are hotter than ever, reaching demand levels not seen in six months. Futures, on the other hand, are barely making a ripple, hinting that retail power is where the action’s at, but price momentum? We’ll see. 👀

ETH/BTC ratios are down to their weakest since 2021. Ethereum is losing steam against Bitcoin, and Bitcoin maximalists are quietly (or not-so-quietly) thrilled. Can ETH make a comeback, or is it Bitcoin’s world for good? 🚀

While Ethereum cools, Solana’s all-time high in daily transaction fees keeps climbing, thanks to an AI-driven memecoin craze. Yes, you read that right. Solana’s riding a wave of meme-worthy tokens fueled by artificial intelligence. What a time to be alive. 😂

In a step forward for frustrated users, FTX’s settlement with Bybit brings it closer to refunding $12.6 billion to users. It’s like they’re making things right—one payout at a time. 🎩⚖️

Our Daily Pick. Cosmos: The Internet of Blockchains 🌌

Cosmos is like the social butterfly of the blockchain world—it's a decentralized network of independent blockchains that actually talk to each other! Imagine a universe where different blockchains can exchange information and value seamlessly, creating an "Internet of Blockchains." It's the ultimate reunion for all your favorite blockchain friends. 🤝✨

What is it used for?

Cosmos is here to save the day by tackling the scalability and interoperability issues that plague many blockchain networks. Developers can whip up custom blockchains like a chef cooking up their signature dish, all while ensuring these blockchains can chat with one another. It’s like the United Nations for blockchains—everyone’s connected! 🌐🍽️

Who is backing it up?

Cosmos is rolling in the dough, thanks to substantial backing from notable investors like Binance Labs and Polychain Capital. With that kind of support, it's no wonder Cosmos is aiming for the stars! 🚀💰

What about its Tokenomics? 🪙

• Circulating Supply: 390.93M ATOM

• Total Supply: 390.93M ATOM

• Market Cap: $1.71B ranked at #50

Cosmos's Superpowers 🦸‍♂️

• Interoperability: Like a translator at a diplomatic summit, Cosmos lets different blockchains communicate and exchange value.

• Scalability: More blockchains, more scalability—it's a no-brainer!

• Developer-Friendly: With a modular framework and tools, developers can build and deploy blockchain applications without needing a Ph.D. in rocket science. 🚀🔧

Problem Solved 🛠️ 

Cosmos tackles the fragmentation and scalability issues that hinder the blockchain industry’s growth. It’s like giving everyone a VIP pass to a more interconnected and efficient blockchain ecosystem! 🌈

Core Concepts ⚙️

• Tendermint Core: The security blanket of the network, ensuring reliability and safety.

• Cosmos SDK: A toolkit for creating custom blockchains on the Cosmos network.

• Inter-Blockchain Communication (IBC): The protocol that helps blockchains swap gossip and value like besties. 💬💸

Use Cases 💡

• Decentralized Finance (DeFi): Building cross-chain DeFi apps that actually work together.

• Internet of Things (IoT): Managing IoT devices securely, so your toaster doesn’t go rogue. 🔌🍞

• Supply Chain Management: Tracking the origins of your avocado toast. 🥑

• Gaming and NFTs: Creating immersive gaming experiences and digital collectibles that even your grandma would want! 🎮🖼️

Final Thoughts 🧐 

Cosmos is carving its niche in the blockchain industry by addressing the fragmentation and scalability woes that many networks face. With its emphasis on interoperability and being developer-friendly, it’s geared for future success. But remember, folks: always do your homework and consider the risks before diving into the crypto pool! 🏊‍♂️📚