Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. Bitcoin Hits $100K: Bitcoin crosses $100,000 for the first time, sparking optimism for further gains. Analysts predict minimal consolidation at this level, with increased futures activity and altcoin rallies expected.

2. 📈Technical Analysis Masterclass - VeChain (VET) is gaining momentum. Watch UseTheBitcoin’s latest Youtube video “Will VET Hit a 3000% Rally Again?!” to see if this marks a significant turning point or join our Official Telegram Channel for more alpha!

3. Hawk Tuah Token Collapses: Hawk Tuah (HAWK) memecoin crashes 90% after launch, triggering investor losses and backlash over insider sniping allegations.

4. 💡Feature of the Day - Solana’s Austin Federa Joins DoubleZero: Austin Federa leaves Solana to co-found DoubleZero, a high-performance network aimed at boosting blockchain scalability and global connectivity.

   
   All this and more in today’s headlines!

📰 News Highlights:

Bitcoin Hits $100K [Source][Source][Source][Source][Source]

Bitcoin has reached a significant milestone, crossing the $100,000 mark for the first time.

Analysts believe this psychological price barrier will attract new market participants, driving the price even higher.

Crypto analyst predicts little consolidation at this level, noting that Bitcoin’s memetic nature and attention-grabbing milestones create volatility and potential upside.

Meanwhile, Federal Reserve Chair Jerome Powell reiterated that Bitcoin is a competitor to gold, not the US dollar.

 📈Technical Analysis Masterclass:

Will VET Hit a 3000% Rally Again?!

Technical Analysis: Breaking the Downtrend

• Trend Reversal: VET has broken out of its downtrend, signaling renewed bullish potential.

• Moving Averages: Favorable alignment of moving averages mirrors the 2020 pattern when VET rallied nearly 3000%.

Supportive Crypto Environment

• Institutional Adoption: Increasing interest from institutions validates crypto’s value.

• Blockchain Acceptance: Governments and policies are becoming more crypto-friendly.

• Retail Awareness: Growing awareness among retail investors creates additional support.

Key Resistance Levels

• Immediate Hurdle: VET must break and consolidate above the $0.13–$0.14 resistance range.

• Next Targets: Overcoming these levels could set the stage for a push toward its previous all-time high.

Balancing Potential and Risks

• Opportunities: Favorable conditions and technical signs point to growth potential.

• Risks: Crypto remains volatile; risk management and informed decisions are crucial.

Hawk Tuah Token Collapses [Source][Source][Source][Source]

Haliey Welch’s Hawk Tuah memecoin (HAWK) plummeted 90% shortly after launch, sparking backlash across social media.

The token peaked at a $490 million market cap before crashing to $41.7 million in under three hours.

Allegations of insider wallets and sniping dominated discussions, though Welch denied any team involvement in token sales.

Despite measures to deter sniping through high fees and decentralized liquidity, one wallet sniped 17.5% of the supply, earning $1.3 million in profits.

Regulatory scrutiny looms, as some users filed complaints with the SEC, and law firms began offering assistance to affected investors.

 🎁Freebie:

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💡 Feature of the Day: 

Solana’s Austin Federa Joins DoubleZero [Source][Source][Source]

Austin Federa, Solana Foundation’s Strategy Lead, announced his departure to co-found DoubleZero.

In a Dec. 4 statement, Federa said leaving Solana after four years was difficult but noted his continued involvement from a new perspective.

DoubleZero is designed as a global base-layer infrastructure optimized for blockchain, capable of supporting millions of transactions per second.

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😂 Crypto Meme of the Day: 

Meme of the day provided by @TheBTCTherapist

And that’s it for this today.

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See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com