Bitcoin dominance dip to spark altseason, Binance and DOJ agreement unsealed

Is the dip in bitcoin's dominance this Weekend about to spark alt Season good morning you're listening to The rise and crypto podcast by coin Telegraph with me Robert bags steering You through the crypto Cosmos with daily Dispatches from the digital Frontier if You want to stay ahead of the curving Crypto make sure you click that follow Button okay grab yourself a coffee and Let's get into It I hope you had a great weekend it was A busy one in crypto so so let me give You a quick rundown is the dip in Bitcoin's dominance about to start the New alt season Bitcoin inscriptions like Ordinals are added to the US national Vulnerability database the binance and Doj agreement has been unsealed and it's Been called a financial colonoscopy Crypto analysts share what the warning Signs are that you're near the top of a Bull market and five things you need to Know in Bitcoin for the coming Week so it was a tumultuous weekend for Bitcoin and William suberg wrote a Brilliant piece on some analysis that Suggests bitcoin's dominance is waning And it may be a temporary top for BTC This weekend Matthew Highland a popular Analyst took 2x formerly Twitter to Write the following BTC dominance is Rolling over as per the bare Divergence That was noted has given back all the

Gains from the move up the other day if It breaks and closes below 51.8 1% it Would be the first lower low in over a Year and an end to the uptrend along With a likely top put in right that was Very Trader so let me unpack that simply Bitcoin dominance is btc's share of the Total cryptocurrency market cap rolling Over as per the bare Divergence just Means its dominance is now decreasing And market indicators suggest a downward Trend in price the final line just means That if BTC drops below 51.8% of the total crypto market cap Highland believes we have hit a ceiling For now as of early Monday morning we Are still north of 53.5% others have flaged that this Dominance reversal May mean that Altcoins will continue this rally that 've been seeing starting what is known As alt season the popular Trader Jacob Canfield tweeted a 2% drop in Bitcoin Dominance and SS went nuts today like I Said it's just a taste when dominance Really starts dropping is when we see The face melting alt season we all know And love he did also warned that it may Not last long though so as has been the Case for the past 90 days everything is Moving and we'll need to keep a close Eye on It last week on the 7th of December I Discussed Bitcoin ordinals token going

Parabolic on the one hand with 2,000% Gains in a matter of months but on the Other hand a Bitcoin core developer Called ordinals a denial of service Attack on the network and that it is Merely exploiting a vulnerability in Bitcoin core that should be fixed it Seems that developer Luke deser isn't Alone in that thinking and Anna paa Pereira wrote a piece about it this Weekend the United States national Vulnerability database or nvd is exactly What it sounds a database of security Vulnerabilities in software and Hardware That it deems important enough to alert The public to interestingly desir's now Viral tweet that we discussed last week Is linked as a source in this entry to The database the document states that Data carrier size limits can be bypassed By obfuscating data as code AS exploited In the Wild by inscriptions to catch you Up on why Bitcoin ordinals or other Inscriptions are a major concern here I'll just quote Anna it could result in Large amounts of non-transactional data Spamming the blockchain potentially Increasing Network size and adversely Affecting performance and fees now it's Worth noting this has already happened When ordinals nfts first caught the Interest of the crypto Community Bitcoin Flipped ethereum for transaction fees on Their respective networks once as

Recently as mid November now ordinals May be becoming incredibly popular but They bring a number of potential issues With their value and it doesn't just Stop at transaction fees some have Criticized the project for affecting the Fungibility of Bitcoin as some Satoshi Having inscriptions makes them Potentially more valuable than other Ones but look the key issue really is Network spam and bloat and the listing Of inscriptions as a security Vulnerability on the nvd could provide Yet more pressure to Simply patch Bitcoin core to remove the possibility Of inscriptions which were added with The tap rout upgrade this would almost Certainly be lights for ordinal if this Happened and I wanted to get Anna's Opinion on it first point to highlight About this story is we have the Bitcoin Network being added to the National Vulnerability database and it shows uh The relevance the Bitcoin has nowadays For in terms of cyber security not just For the United States but for the world Um but it also represents a potential Potential problem for the orinal Protocol so we will see how um this Unfolds in the coming week but in any Case it sheds light on one of the main Problems around the Bitcoin award that Goes Way Beyond the ordinal protocol Which is on my view the lack of

Developers are working on the Bitcoin Ecosystem there have been so many Strands to that $4.3 billion binance Settlement with the US that we've had to Follow them all individually there were Several strands however that we simply Couldn't follow because they were sealed Until just a few days ago one area of Interest for many in the crypto space is What the compliance commitments with the Doj look like that is what has binance Had to agree to with the US Department Of Justice to get a settlement through Well we can now look at the unsal Documents but very few of us know Exactly what we're looking at and how Impactful the stipulations might be for Binance and its customers fortunately a Former SEC official John Reed Stark took A look and concluded the following in a Tweet binance's settlement requires it To offer years of instantaneous access Audit examination and inspection to doj Vinsen and all types of financial Regulators and law enforcement exposing The company and its customers to a 24/7 365 days a year Financial colonoscopy in All honesty it Starks indepth analysis Of binance goes from amusing to pretty Bleak rather quickly and he sums up in The following way to to me it's only a Matter of time before the entire binance Plea deal collapses resulting in Additional charges for binance

Additional charges for CZ and new Charges against anyone else partner Customer joint venturer collaborator Etc Nefariously intertwined with the binance Criminal Enterprise if it wasn't clear And I'm quite sure you've picked up on It Stark appears aggressively Anti-crypto whenever I've seen any of His tweets though I'd be remiss not to Point out that his arguments are always Well supported and this thread he wrote On Twitter is massive so what do you Make of it tweet us on @ cointelegraph Or Rbags okay Jesse cockin wrote a great Piece this weekend where he discussed The biggest signs of a bull market Peak With various analysts Ben Simpson the Founder of the crypto education platform Collective shift put forward what is Likely the most telling sign when Everyone seems to be making money he Said whenever I start seeing supercars Houses and Rolexes I'm like this might Be getting a bit toppy it's hard to Disagree with any of that a Dogecoin Wrapped McLaren anyone for the software Engineer and crypto critic Molly white It's celebrity endorsements that Mark The top these have proven to be Particularly unsavory in the wake of Those all-time highs with many Celebrities being sued including Ronaldo Who we discussed recently wh highlighted

Paris Hilton and Jimmy Fallon discussing Bor Apes on The Tonight Show as a major Signal of the top and while I agree I Would say that Paris has not been a Flash in the pan in web 3 and crypto she Was active in the space for a while and She still is from a more technical Standpoint I Australia analyst Tony Sycamore uses relative strength index to Predict the top this measures momentum By comparing the closing price with a 50-day moving average to indicate if an Asset may be overbought or oversold to See bearish Divergence reading this Article by Jesse I remembered my Feelings about the top of the last bull Market in all honesty I would like very Little about the next bull market to Resemble the last one it was filled with Industrial Level fomo and Hollow Applications of an otherwise Revolutionary Tech it isn't hard to see Why so many left the 2021 bubble think It was a fad with no substance the ways In which so many gargantuan companies And aess celebrities interacted with Crypto and nfts had no substance Whatsoever but their involvement Garnered the most attention there were So many empty vessels you could scarcely Hear the full Ones okay this might have to become a Monday tradition because William Seberg's five things to know in Bitcoin

This week is always superb and I read it Every Monday morning as always the full Article will go into way more depth than I can here and it contains charts too so Give it a click in the description but Here are the footnotes number one the Bitcoin USD pairing felt 7% in a matter Of hours this weekend 5% of which Happened in mere minutes which coin Glass data showed to have wiped out $300 Million in Cross crypto long positions At the time of writing at the time of Recording which is roughly 600 or 7: A.m. eastern the 24-hour figure for long Liquidations is 332 $ 2.61 Million Number two some coincidental timing Means that the Consumer Price Index Producer price index and the FED Interest rate changes will all be Released on the 12th and 13th of December tomorrow and Wednesday and that Will undoubtedly affect Market Volatility and we don't know in which Direction number three onchain analytics Platform crypto Quant warned of a Potentially unstable optimism around Bitcoin when analyzing the stable coin Supply ratio they wrote from January 23 To DEC December 23 the SSR stable coin Supply ratio has significantly increased This employs that Bitcoin holds a Relatively higher value compared to Stable coins indicating that the market Participants attribute greater value to

Bitcoin which has been a driving factor In bitcoin's price increase this they Say indicates potentially unstable Optimism number four data from Shows the bi-weekly difficulty tweak Lowered the difficulty by around 1% James Van Stratton of crypto slate said First Nega ative difficulty adjustment For Bitcoin since September is a welcome Relief for miners that puts an end to Six positive consecutive adjustments and Number five onchain analytics firm glass Node showed that a newly identified Cluster of addresses made a purchase of $633,000 some analysts suggest that this Could make 48,000 a magnetic price in The short Term okay that was a lot but that's you Caught up consider yourself informed Thank you for listening to the ryen Crypto podcast by coin Telegraph if You're enjoying these daily updates Please make sure you let us know by Following subscribing or leaving a Review have a great day let's do this Again [Music] Tomorrow


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