Behold, the daily Relative Strength Index (RSI) of Bitcoin has plummeted to 36, a level so oversold it could make a capitalist weep. This comes after a 20% correction from October’s highs, leaving the market in a state of existential crisis. Is this the bottom, or merely a pit stop on the way to oblivion? 🕳️🤔
Oh, absolutely. If the buying pressure decides to show up and the $1 mark holds like a lifeline to sanity, there might just be hope after all.
Dubai’s Department of Finance, in a move as smooth as my obsession with lipstick, has wrapped up a trial allowing you to settle payments in digital assets, totally instant, directly in handy old UAE dirhams. This magic show was pulled off in par with the Dubai Land Department (DLD) over the oh-so-chic Dubai Pay platform, which is like the digital cupid of this story, making everything clickable under the watchful eye of the Digital Dubai Authority. 📲💃
Market tantrums, liquidity bottlenecks, dodgy basis management, and the classic NAV rollercoaster from rebalance shenanigans-like riding a unicycle on a trampoline, but in crypto.
While Bitcoin sobbed into its blockchain, gold did what gold does best: stood there, inert and smug, accumulating reverence like dust on a forgotten Nobel. Spot gold, that imperious sun-disc, rose majestically past $4,300 per ounce, peaking flirtatiously near $4,312. Futures? Oh, they dallied at $4,328.70, as if lingering for applause. Record highs! The biggest weekly gain since the financial apocalypse of 2008! Investors, trembling like leaves in a collective nervous breakdown, rushed toward gold the way moths do to a flame-except, in this case, the flame doesn’t burn. It just sits there, glinting, saying: I’ve outlived your apps. I’ll outlive your memories. 😏🇲🇾
And why, you ask? Well, dear reader, let us wade through the murky waters of this absurdity:
BNB Chain has joined forces with CMB International Asset Management (CMBIAM), a subsidiary of China Merchants Bank, to tokenize the CMB International USD Money Market Fund. Yes, $3.8 billion worth of assets are now onchain. Because, why not? 🤷♂️
The Swiss gambling regulator, Gespa, has reportedly filed a criminal complaint against FIFA over its blockchain-based tokens, which they now deem “unlicensed gambling services.” Because nothing says “trust us” like selling hope as a lottery ticket. 💸
While Bitcoin has continued to plunge deeper, renowned crypto market prediction platform Polymarket has disclosed data showing a 52% chance that Bitcoin will fall below $100,000 this month. Because nothing says “confidence” like a 50-50 shot at financial disaster. 🎲💥
The funding includes $41.6 million from a recent strategic round, a testament to the company’s ability to turn dreams into digital gold. 🏆