🤝 Crypto's hottest feature yet: BTC and ETH together?
Plus: Will Vancouver lead the crypto-friendly city trend?
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GM. We're cracking open the blockchain coconut at the Daily Squeeze - sip on the sweet stuff and leave the shell behind.
💬 Bitwise's Bitcoin and Ethereum ETF moves to the industry feedback phase.
📝 Vancouver, Alabama, and Ukraine's crypto plans.
🍋 News drops: Binance and Circle wanna push USDC adoption, the Australian operator of Kraken gets fined + more
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🍍 Market flavor today
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| Crypto Market Cap: $3.70T 1.75% (24H) | ||||
| Name | Price | 24H | 7D | |
|---|---|---|---|---|
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Bitcoin BTC | $100,921.55 | 0.66% | 0.76% |
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Ethereum ETH | $3,929.45 | 3.67% | 1.42% |
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XRP XRP | $2.42 | -0.48% | 1.37% |
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Solana SOL | $231.45 | 1.51% | -2.08% |
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BNB BNB | $719.69 | 2.16% | -0.87% |
| Prices as of 14:00 EST. Click here to see live data. |
Who knew FOMO could look this good? 😏 The Fear and Greed Index cranked up to 83, making us feel that extreme greed vibe. Meanwhile, BTC has been hangin' out above the $100K mark since yesterday.
If you ask trader Roman, he's looking at the Relative Strength Index (RSI), and he's pretty excited. The RSI is a tool traders use to check if an asset is overbought or oversold - and Roman says it's "completely reset." This might clear the way for a clean increase to around $112K.
The feel-good factor got a boost when the latest CPI numbers (a measure of how much everyday prices have gone up) matched forecasts - clocking in at a 12-month inflation rate of 2.7%. With everything lining up nicely, it looks like we can expect a 0.25% rate cut next week, and CME FedWatch is betting on it with 98% certainty. Lower interest rates = more money flowing into riskier investments like crypto 💸
Btw, Sygnum Bank says we could see BTC "demand shocks" in 2025 - basically, institutional money could send BTC prices through the roof. Here's the math: for every $1B that goes into Bitcoin ETFs, the spot price jumps by around 3-6%. Yesterday alone, these ETFs pulled in $223.1M. Fast forward to 2025, with clearer US regulations and Bitcoin potentially becoming part of central bank reserves, the institutional influence could become massive.
And hey, if all else fails, there's always that one guy on Reddit who swears his "all-in on dog-themed coins" strategy is foolproof. Maybe he's onto something... 🤔
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🥝 Memecoin harvest
If Bitcoin buys you a pizza, today's memecoins are serving a buffet with extra moon cheese:
Fartcoin (FARTCOIN) +32%
This one's holding strong for the second day in a row. Inspired by the AI Agent Terminal of Truths, this memecoin is... well, letting it rip in the rankings 💨
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M3M3 (M3M3) +27%
Pronounced Meme(3,3), it's MeteoraAG's attempt to turn the memecoin "dump race" into a "stake race."
PepeCoin (PEPECOIN) +26%
It's Pepe. Nuff said.
Puff the Dragon (PUFF) +24%
Not your regular dragon - it's a choose-your-own-adventure on the blockchain 🐉 Holders get to navigate a six-chapter journey through the Dark Forest of DeFi.
Data as of 09:45 AM EST.
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🎵 BTC x ETH - ETF.mp3
Think of your favorite music artist (no judgment… unless it's Lil Pump - then we need to have a chat). You vibe with their solo stuff, sure, but the features? Especially when it's with another artist you love? Ugh, unmatched 😩
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Well, Bitwise wants to drop a feature of its own: an ETF that holds Bitcoin and Ethereum, weighted by market cap.
They're saying BTC and ETH aren't rivals - more like two different genres that both deserve a spot on your playlist. That's exactly what this ETF is about: providing easy access to the top two cryptos without having to pick sides.
And now, here's the latest update: the SEC took NYSE Arca's request to list this ETF to the next level, asking for feedback from the industry. Translation: it's not a no.
Why's this a big deal? It'd be yet another sign that the industry is maturing. Plus, more ways to invest = more institutional money coming in = 🚀!
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🎉 We've got more
If you're new to the Daily Squeeze, stop what you're doing and go read yesterday's edition: 1, 2, 3 - GO!! 🏃♂️
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Did I stutter? Why are you still here? 🤨
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Alright, fine. You're clearly the TL;DR type, so here it is: a whole bunch of companies, states, and even countries are planning to join the BTC gang.
And you know what? The lineup just got bigger 😈
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Here are the latest additions:
1/ Vancouver
The Vancouver City Council approved a motion to explore integrating Bitcoin into its financial system - potentially a Bitcoin reserve and payments option. Basically, they wanna become a "Bitcoin-friendly city."
Mayor Ken Sim said inflation is eating into the city's purchasing power, and Bitcoin might be the solution to their financial and affordability struggles.
2/ Sweet home BTC?
Alabama State Auditor Andrew Sorrell said he supports a state Bitcoin reserve.
His take: "The debate over whether crypto will succeed has ended. Now, the fight for which states will benefit from it has begun." I think you dropped this, King 👑
3/ Ukraine
Ukraine's moving toward legalizing crypto in early 2025. The plan? Standard taxation on crypto, just like securities trading.
Sure, it's not an all-in crypto bro kinda vibe, but it's big progress, and we'll take it.
Overall, it's clear that the BTC convo is getting very serious. But we're still in the opening act. Consider this your friendly reminder: if you're here, you're still early.
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🍋 News drops
🤝 Binance and Circle are teaming up to push USDC adoption to the next level. Binance plans to integrate USDC into more of its products and use it as a key stablecoin for its corporate treasury.
⚖️ Nvidia's in hot water again with a class-action lawsuit accusing it of hiding over $1B in GPU sales to crypto miners. Yesterday, the Supreme Court shot down its appeal to kill the case.
🐙 The Australian operator of Kraken, Bit Trade, was fined 8M AUD ($5.1M). The court found that it failed to comply with design and production obligations and acted as a credit facility without a license.
🤖 Google DeepMind dropped Gemini 2.0, a new AI model they're calling the foundation for next-gen AI agents. CEO Demis Hassabis and CTO Koray Kavukcuoglu said they're exploring prototypes that help people actually get stuff done.
⚠️ Democratic Senator Sherrod Brown gave a warning to the Senate Banking Committee before his exit in January. He said that everything from rising housing costs to AI and crypto could end up squeezing working Americans even more - while the usual corporate elites keep cashing in.
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🍌 Juicy memes
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