Summary 14th Nov 2023
1️⃣ Funding Rates is one yardstick relate to our Digital Asset (BTC in specific) management business.
News: https://cointelegraph.com/news/funding-rates-69k-btc-price-5-things-bitcoin-this-week
2️⃣ Daily BTC mining revenue hit USD 44 million
On Nov. 12, the daily Bitcoin mining rewards crossed $44 million for the first time in 2023, a number last seen in April 2022, according to data from blockchain.com.
Alongside Bitcoin mining companies and individual miners, numerous countries actively participate in securing the Bitcoin network via mining.
News: https://cointelegraph.com/news/bitcoin-mining-revenue-44-m-annual-all-time-high
Data: https://www.blockchain.com/explorer/charts/miners-revenue
3️⃣ Stablecoin firm Tether minted 4B USDT in 4 weeks: Data <- this is Money Printing
News: https://cointelegraph.com/news/tether-issues-4-billion-usdt-4-weeks
4️⃣ Bitcoin institutional inflows top $1B in 2023 amid BTC supply squeeze
Crypto institutional product AUM up 99% year-to-date
“Digital asset investment products saw inflows totalling US$293m last week, bringing this 7-week run of inflows past the US$1bn mark, leaving year to date inflows at US$1.14bn, making it the third highest yearly inflows on record,”
“At US$44.3bn, total AuM is now the highest since the major crypto fund failures in May 2022,”
CoinShares summarized.
Among the impressive statistics showing crypto’s renaissance in 2023 is the assets under management (AUM) tally for crypto exchange-traded products (ETPs).
“This is what adoption looks like” :
https://twitter.com/PositiveCrypto/status/1724064084339921110
https://www.lookintobitcoin.com/charts/addresses-holding-x-btc-by-year/
News: https://cointelegraph.com/news/bitcoin-institutional-inflows-1b-2023-btc-supply-squeeze
5️⃣ Our windows of opportunities
If history has taught us anything, it’s that capitalism is a boom-and-bust game. And right now, we are at the beginning of a fresh cycle.
We can also draw parallels between the dot-com boom and crypto. January will almost certainly spell one or more U.S. Bitcoin spot ETF approvals, which will drive huge waves of institutional money into this relatively new asset class. This could potentially spur a wave of IPO activity inside and outside the industry that, as it did in 1999, could eventually go bang.
While we can draw some comparisons with the 1990s, there is one overriding factor that puts us closer to the market cycle of 2001-07: debt. As we all know — thanks to Margot Robbie explaining it to us in a bubble bath — 2001-07 saw one of the most reckless periods of lending, and then trading on that lending, ever known. And the result was world changing.
Consumer debt is at a record high, a fact that will weigh on the market in 2024. Yet, it's safe to say central banks will keep rewriting the rules to keep the economy at full steam.
As things wobble, goalposts will likely be moved.
What goes up must come down, though.
Of that, we can be sure.
The odds, then, favor an extremely strong bull market over the next year or two until the steam runs out, as it always does.
Video: https://cointelegraph.com/news/history-tells-us-strong-bull-market-hard-landing
News: https://cointelegraph.com/news/history-tells-us-strong-bull-market-hard-landing
Our Billion dollar question:
Item 2️⃣ Hard monetary system, asset-backed currency issuance, we can link up physical gold and digital gold (BTC)
Item 4️⃣ Where are we as the trend of coinmarketcap growing from $1T to $10T? How much we can scoup as $9T in the making?
Item 5️⃣ We are not left with much windows of opporutnities. How much and how fast can we go?
