Good Morning Crypto Enthusiasts!

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

1. MicroStrategy’s Bold $2B Bitcoin Buy: MicroStrategy has added 27,200 BTC to its holdings with a $2.03 billion purchase, bringing its total to 279,420 BTC, valued at nearly $23 billion.

2. What's Fueling the Bitcoin Surge: Bitcoin’s price surge is attributed to a post-halving supply shock, along with demand from recently launched Bitcoin ETFs. Analysts, including Anthony Scaramucci, suggest Bitcoin’s market cap could rival gold’s as institutional and government adoption grows.

3. 📈Technical Analysis Masterclass - Starknet has captured significant interest with signs of strong price movement. Watch UseTheBitcoin’s latest Youtube video “Something BIG will happen to STARKNET! (STRK)” to know whether it might reach the $1 mark or join our Official Telegram Channel for more alpha!

4. 💡Feature of the Day - Crypto-Friendly Bills Soon?: With the GOP set to control both chambers of Congress and the presidency, there is renewed optimism for pro-crypto legislation like the FIT21 Act and Clarity for Payment Stablecoins Act.

   
   All this and more in today’s headlines!

📰 News Highlights:

MicroStrategy’s Bold $2B Bitcoin Buy [Source][Source][Source]

MicroStrategy has expanded its Bitcoin treasure chest, buying 27,200 BTC for $2.03 billion, bringing its total holdings to 279,420 BTC — worth nearly $23 billion at current prices.

The company executed this purchase from October 31 to November 10, paying an average of $74,463 per BTC.

By using proceeds from stock sales, MicroStrategy has demonstrated unwavering confidence in Bitcoin, solidifying its position as the largest corporate BTC holder, far outpacing Marathon Digital and Riot.

What's Fueling Bitcoin’s Surge [Source][Source][Source]

While Trump’s reelection has given Bitcoin a boost, Onramp Bitcoin co-founder Jesse Myers believes a post-halving supply shock is the primary driver of the price surge.

Bitcoin’s April halving reduced the block reward, limiting supply and creating upward pressure as demand outpaces availability.

Wall Street heavyweights, including Anthony Scaramucci, are signaling optimism, suggesting Bitcoin’s market cap could rival that of gold, especially with global adoption from institutional and state actors.

 📈Technical Analysis Masterclass:

Something BIG will happen to STARKNET! (STRK)

Current Price Action

• Breakout from Consolidation: Starknet recently exited a 105-day consolidation phase with a strong bullish candle, signaling potential momentum.

• Caution on Entry: While this breakout is promising, waiting for a retest of the consolidation box's upper boundary is advisable. This could establish stronger support for sustained movement.

• Suggested Stop-Loss: A stop-loss around $0.47 to $0.45 would limit downside if the price re-enters consolidation, preventing a potential fake breakout.

Overbought Conditions and Potential Pullback

• Profit-Taking Possible: Starknet's price may be temporarily overbought, encouraging traders to take profits, which could trigger a minor decline.

• Healthy Correction: A pullback might allow the price to consolidate before a more sustainable rise, strengthening the coin's foundation.

Moving Averages and Market Sentiment

• Bullish Crossovers: The 50-day moving average has crossed above the 100-day MA, a classic bullish indicator.

• Upcoming Crossovers: The 20-day moving average is close to crossing the 100-day, adding further strength to the bullish outlook.

• Weekly RSI: Starknet’s RSI has moved above 30, indicating a healthier market position and potential for continued growth.

💡 Feature of the Day: 

Crypto-Friendly Bills Soon? [Source][Source]

The GOP is set to control both chambers of Congress and the presidency, marking the first Republican “trifecta” in government since 2019.

This could open doors for stalled pro-crypto bills, such as the FIT21 Act, aimed at regulatory clarity, and the Clarity for Payment Stablecoins Act.

With the next Congress expected to be the most pro-crypto in history, backed by candidates supported by crypto-focused PACs, new legislation may soon foster a more favorable environment for digital assets.

Today’s Sponsor:

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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