Abu Dhabi’s big regulatory bosses, the FSRA, winked at Ripple’s shiny new stablecoin, RLUSD, and said, “Sure, why not?” Now it’s officially a Fiat-Referenced Token in the bustling maze of the Abu Dhabi Global Market. Yep, the bank folks and fintech wizards can now sprinkle some RLUSD magic into their regulated services-like dropping a good punchline at just the right moment.
MicroStrategy (MSTR), a company that practically has its own Bitcoin vault at this point, is feeling the heat as JPMorgan and Morgan Stanley launch Bitcoin-linked products. Why? Because suddenly, it looks like the banks might be crashing the Bitcoin party MSTR thought they owned. 🏦💥
Let us distill the essence, shall we?
The firm begins by criticizing the way market labels are thrown around. “The terms ‘bull market’, ‘bear market’, ‘topped’, or ‘bottomed’ can truly mean whatever narrative a trader, investor, or community wants it to mean,” Santiment notes, pointing out that few commentators define a clear timeframe when they call a top or bottom. This opens the door to extreme confirmation bias “after the uptrend or downtrend of prices are already well established.” 🤡
“Altcoins, bless their little digital hearts, are gonna outperform Bitcoin as a collective,” Siu drawled during a chinwag with CryptoMoon on Wednesday. “They’re like the barn dance to Bitcoin’s square dance-more lively, more unpredictable, and heck, maybe even more profitable.”
The experiment is conducted with assistance from the Stellar Development Foundation and the consulting firm PwC, its noble intention being an exploration of how a venerable institution might indeed convoy dollars across this public ledger. Oh, the marvel of such a vision! 💸
Like a phoenix from the ashes, Ethereum rose above $2,850, mirroring its cousin Bitcoin in a display of solidarity. 🦅 It breached the $2,880 and $2,950 levels with the fervor of a revolutionary, its bulls pushing past the 61.8% Fib retracement level-a mere footnote in its grand narrative. 📊 More remarkably, it soared above $3,000, a testament to its resilience. Yet, let us not forget the bullish trend line, its support at $2,880, a silent guardian on the hourly chart of ETH/USD.
And the timing? Chef’s kiss. China’s underground crypto market, with its 20 million participants, is basically married to USDT. Even after the 2021 ban, they’re still sliding into its DMs. 💍 But now? It’s like finding out your partner has been texting their ex. 😬
The ancient runes and macabre bones of RSI and MACD paint a picture of a bearish dance, albeit one that might turn to a featherweight jest rather than a lasting tragedy.