At the end of the year, it is common for companies and other institutional players to carry out cost and profit closures.
As a result, selling pressure tends to increase during these periods.
We can see this more clearly in Bitcoin’s Open Interest. Open Interest has already dropped by nearly 50% across all exchanges, representing a reduction of more than $30 billion.
Once again, these institutional players have taken Bitcoin’s 4-year cycle very seriously, while many still maintain a persistent view that this time the cycle is different.
Charts: @Alphractal
Tomorrow, we will receive the most important data release of the year-end: the CPI, which measures inflation for the month of November.
Core CPI is expected to come in at 3%, although recent data suggests a slight downside surprise is possible.
For reference, Core CPI stood at 3% in September and 3.1% in August.
This is also a good opportunity to recall that Bitcoin’s inflation rate continues to decline over time.
It is now below 1% on an annual basis and will keep decreasing even further going forward.
In 2019, the Fed announced QT would end on August 1st.
The balance sheet of the Fed continued dropping in August despite QT having officially ended because the last round of treasury maturities did not settle until mid August.
Just because QT ends December 1st does not mean the balance sheet immediately starts going up. It might take until early 2026 to notice that.
“When I meet him, I will tell him”😭
During the SONA Debate in Parliament, we defined what is a Paper Tiger to ANC MPs.
We told Cyril Ramaphosa to his face that a Paper Tiger is something that appears dangerous from afar, but in reality WEAK AND FRAGILE!
A Tiger made of Paper!
@BinanceHelpDesk@cz_binance Case id#131290149
This issue shows that there is a big issue with your 2FA system.
Bunance should care about its customers !
@cz_binance
I have been hacked although I have 2FA setup on my binance account and the sad part is that the customer representative says 2FA can be bypassed by the system based on several factors.
I have recorded my discussion with customer service for evidence.
Help needed !
It looks like the grand finale of the altcoin reckoning has finally arrived.
The altcoin reckoning should be over by December 2024 (2nd week of January 2025 at the latest).
It has been a long journey, and many gave up along the way, but this process was always going to play out