Good Morning Crypto Enthusiasts!

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

1. Gary Gensler Soon to Step Down: SEC Chair Gary Gensler will step down on January 20, 2025, coinciding with Donald Trump’s return to the presidency.

2. Ether Eyes $3.7K: Ether has risen over 7.5% this week to $3,369, despite a $1.3 billion sell-off by early investors, including whales holding Ether since its ICO.

3. 📈Technical Analysis Masterclass - Toncoin may seem stagnant, but its technical indicators suggest a potential price surge. Watch UseTheBitcoin’s latest Youtube video “TONCOIN: From Sideways to Skyrocketing? (TON)” to know if Toncoin is building momentum for a potential breakout or join our Official Telegram Channel for more alpha!

4. 💡Feature of the Day - MicroStrategy Bitcoin Buying Spree: MicroStrategy raised $3 billion via convertible senior notes to expand its Bitcoin holdings, aiming for 30,600 BTC under its ambitious "21/21" plan.

   
   All this and more in today’s headlines!

📰 News Highlights:

Gary Gensler Soon to Step Down [Source][Source][Source]

SEC Chair Gary Gensler, a central figure in crypto regulation, will leave his post on January 20, 2025, coinciding with President-elect Donald Trump’s return to the White House.

Gensler’s tenure, marked by over 100 enforcement actions against crypto firms, has been contentious, with critics pointing to his strict interpretation of securities laws.

Trump has vowed to usher in a more crypto-friendly era, possibly replacing Gensler with appointees open to blockchain innovation.

While some praise his consumer-protection focus, others criticize his heavy-handed approach that stifled industry growth.

Ether Eyes $3.7K [Source][Source][Source]

Ether’s price is on the rise, defying a $1.3 billion sell-off by long-dormant whales. On-chain data shows significant sales by early investors, including a wallet holding Ether since its ICO, yet market optimism persists.

Analysts attribute Ether's resilience to Bitcoin's record-breaking rally past $99,000, fueling broader enthusiasm in the crypto space.

Despite the selling pressure, Ether has climbed over 7.5% in a week, trading above $3,369.

 📈Technical Analysis Masterclass:

TONCOIN: From Sideways to Skyrocketing? (TON)

Trendline Breakout

• Downtrend Break: Toncoin has broken out of its previous downtrend and retraced to the top of the former trendline.

• Support Formation: The retracement has flipped resistance into support, creating a robust base for upward movement.

Moving Averages

• 100-Day MA: Toncoin is trading near the 100-day moving average, a significant support level.

• Buyers Stepping In: Respecting the 100MA during consolidation suggests growing buying pressure, increasing the likelihood of a bullish breakout.

RSI Analysis

• Above Median: The Relative Strength Index (RSI) is holding above 50, indicating a shift from bearish to bullish sentiment.

• Momentum Building: This signals increasing buying pressure, paving the way for potential price increases.

MACD Momentum

• Positive Territory: The Moving Average Convergence Divergence (MACD) is in positive territory with green histogram bars forming steadily.

• Bullish Signal: The MACD line hovering above the signal line confirms a transition from a downtrend to an uptrend.

💡 Feature of the Day: 

MicroStrategy Bitcoin Buying Spree [Source][Source][Source]

MicroStrategy has secured $3 billion through convertible senior notes to expand its Bitcoin holdings, pushing forward its ambitious "21/21" plan to raise $42 billion over three years.

The funds could add 30,600 BTC to its reserves, further solidifying its position as the largest corporate Bitcoin holder.

Critics cite the potential risks of such concentrated crypto investment, though CEO Michael Saylor remains bullish.

Today’s Sponsor:

This week we have partnered with Gemini.

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😂 Crypto Meme of the Day: 

Meme of the day provided by @TheBTCTherapist

And that’s it for this today.

Buy, sell, store, and convert crypto with today’s sponsor Gemini, full-reserve and highly-regulated cryptocurrency exchange and custodian!

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com