- UseTheBitcoin.com Newsletter
- Posts
- Today's Top Crypto Headlines:
Today's Top Crypto Headlines:
Trump appoints David Sacks | Bitcoin’s 5% Drop Triggers $303M | Crypto Leaders Support SEC Nominee and more...
King Fatrick Gil Añasco
December 06, 2024
Good Morning Crypto Enthusiasts!
Glad to have you back for another edition of the UseTheBitcoin.com newsletter.
David Sacks Named AI & Crypto Czar: Donald Trump appointed David Sacks as his AI and cryptocurrency adviser, tasking him with developing legal frameworks for crypto and combating Big Tech bias.
Bitcoin’s 5% Drop Triggers $303M: Bitcoin dropped 5.47% on Dec. 5, briefly falling below $93,000 and triggering $303M in liquidations.
📈Technical Analysis Masterclass - Jasmy has reached a breakout signals bullish potential. Watch UseTheBitcoin’s latest Youtube video “Is Jasmy Ready for a 2x Move? Watch This Key Level!” to guide your next move or join our Official Telegram Channel for more alpha!
💡Feature of the Day - Crypto Leaders Support SEC Nominee: Trump’s SEC chair pick, Paul Atkins, has gained crypto industry approval. Leaders, including Ripple CEO and Coinbase’s legal officer, lauded Atkins’ balanced regulatory approach.
All this and more in today’s headlines!
Earn $15 when your referral trades!
📰 News Highlights:
Donald Trump has appointed David Sacks, PayPal's former COO and co-host of the "All In" podcast, as his lead adviser on artificial intelligence and cryptocurrency.
Trump announced the appointment on Dec. 6 via Truth Social.
Sacks will also focus on safeguarding online speech and combating Big Tech bias while chairing the Presidential Council of Advisors for Science and Technology.
Sacks has been a staunch Trump ally, raising $12 million in a fundraiser for the president-elect.
Bitcoin experienced a sharp 5.47% drop on Dec. 5, briefly falling below $93,000 and triggering $303 million in liquidations within minutes.
There was the (first) flush
70% chance that was it, 30% we go a bit lower
That wipe cleared out most of the lever on BTC. Only reason we go lower is if it spooked enough people into taking profit
Going moderately long here where I got enough room to buy some perps in the 80s
— Felix Hartmann (@FelixOHartmann)
10:55 PM • Dec 5, 2024
Between 10:23 am and 10:28 am UTC, Bitcoin’s price plunged from $98,338 to $92,957, later recovering to $96,410.
it took Bitcoin 3 minutes to drop ~10% which equals to ~200B drop
180 seconds. 200 Billion dollars lower.
5th December truly goes down in history
[Bullish] x.com/i/web/status/1…
— :) (@smileycapital)
10:55 PM • Dec 5, 2024
This sudden decline caused total liquidations over the past 24 hours to reach $404 million, as per CoinGlass data.
Ugly price action here in #Bitcoin
This morning we noted that after yesterday's burst above $100k, there had been very little follow-through buying. We also highlighted signs of exhaustion and bearish divergence, which are excellent indicators of a short-term high.
Since our… x.com/i/web/status/1…
— Tony Sycamore_IG (@Tony_Sycamore)
11:00 PM • Dec 5, 2024
Analysts suggest this event cleared most leveraged positions, with some predicting a consolidation phase in the near term.
Ugly price action here in #Bitcoin
This morning we noted that after yesterday's burst above $100k, there had been very little follow-through buying. We also highlighted signs of exhaustion and bearish divergence, which are excellent indicators of a short-term high.
Since our… x.com/i/web/status/1…
— Tony Sycamore_IG (@Tony_Sycamore)
11:00 PM • Dec 5, 2024
📈Technical Analysis Masterclass:
Fair Value Gap Overview
What is FVG?: A price imbalance created during surges, acting as a magnet for price movement. Jasmy has returned to this zone after filling the gap.
Resistance Potential: In this case, the FVG could serve as resistance, potentially halting upward momentum.
Strategies for Action
If You Own Jasmy:
Cut-Loss Recommendation: Set a stop-loss at 0.049 to lock in gains and protect against a reversal.
If You Don’t Have a Position Yet:
Stay Patient: Avoid entering now as the FVG zone is a resistance level.
Look for Breakout: Wait for Jasmy to break above 0.066, consolidate, and hold above the FVG for a safer entry.
Potential Price Targets
Breakout Success: If Jasmy clears the FVG, targets lie between 0.15 and 0.13, contingent on sustained momentum.
Breakout Failure: If resistance holds, look for a retracement to Fibonacci golden levels between 0.047 and 0.040.
Entry Tip: Enter cautiously at these levels, setting a stop-loss at 0.038 to minimize risk.
🎁Freebie:
Download your free ebook now and take the first step toward mastering CRYPTO IN UNDER 60 MINS!
💡 Feature of the Day:
President-elect Donald Trump’s nomination of Paul Atkins as SEC chair has garnered widespread support from cryptocurrency industry leaders.
Bitwise Asset Management's Katherine Dowling praised Atkins as a "great choice," to collaborate with lawmakers and other regulators for industry clarity.
An outstanding choice – Paul Atkins at the helm of the SEC will bring common sense back to the agency. Along with Hester Peirce and Mark Uyeda, it’s time to swiftly and definitively end the prohibition era on crypto, restoring freedom of choice, economic growth, and innovation.
— Brad Garlinghouse (@bgarlinghouse)
7:51 PM • Dec 4, 2024
Ripple CEO Brad Garlinghouse and Coinbase’s legal officer Paul Grewal also endorsed Atkins, appreciating his pragmatic approach to regulation.
Congratulations to Mr. Atkins. We appreciate his commitment to balance in regulating US securities markets and look forward to his fresh leadership at @SECGov. It's sorely needed and cannot come a day too soon.
— paulgrewal.eth (@iampaulgrewal)
6:10 PM • Dec 4, 2024
Today’s Sponsor:
This week we have partnered with Gemini.
Gemini is crypto-obsessed and compliance-focused, making it safe and easy to buy and sell crypto.
Over $200 billion USD in volume traded.
Join the movement today with Gemini.
😂 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