Issue #53 of our weekly newsletter last week:
• $IBIT saw its largest inflow ever at $1.1B, with Bitcoin surpassing $76,000.
• $SOL touched $200, and $ETHBTC rose 12% from its lows, giving early signs of a market reversal. Open interest in $ETH options also spiked massively relative to Bitcoin.
• Pro-crypto sentiment in Congress is growing, with 263 pro-crypto candidates (vs 118 anti-crypto) joining the House and 18 in the Senate (vs 12 anti).
• @SenLummis is advocating for a Strategic Bitcoin Reserve. President-elect $Trump promised this in his campaign, although it was to be backed by seized $BTC and not market purchases.
• Robinhood CLO emerges as the frontrunner for new SEC chair.
• Anticipated regulatory shifts boosted crypto stocks, with $COIN up 46.7%, $GLXY up 35.6%, and miners like $MARA and $CLSK also rising steeply.
• OG DeFi tokens ( $AAVE, $UNI) and $DOGE saw gains, driven by policy optimism and also Elon’s so-called “Department of Government Efficiency.”
• The first UK pension fund allocated 3% to #Bitcoin, marking a surprising move from traditionally conservative British institutions.
https://t.co/o0ZmIksnYp