Bitcoin’s Slow‑Mo: The 0.7% Drop That’s Feels Like a Bad Reboot
After yesterday’s double‑digit surge that saw crypto catapult over the $117,000 mark, Bitcoin’s now slipping back by about 0.7%. Not a head‑turner in the grand scheme, but hey, the market’s still trying to remember its own weight.
Altcoins Take the Squeeze Too
Ethereum rolled in looking like a champ again, pulling up over 6% to reclaim the $3,900 zone after a restless ten‑day slump. If Bitcoin felt a bit shy, Ethereum’s got its cuffs on, sure to make the crowd cheer.
Why the Pullback? Trump’s 401(k) Hijack
Click “Blink of an Eye” and Trump just signed a memo that could let retirement plans dabble in crypto. He opened the door to private equity, crypto, real estate — anything that can occupy a corner of the $12.2 trillion stash that we each rely on for our golden years.
- Inclusion is the word: President’s exec order nudges the Department of Labor to revisit fiduciary guidelines.
- Plan admins? They’ve long danced around crypto, wary of liquidity drip. Lower liquidity often means higher fees and a “higher risk” bingo card.
- New guidance might finally be the green light for those “dark” asset types.
Spot Bitcoin ETFs were looking pretty generous that day, piling in $280 million plus. And Ethereum products weren’t far behind, snapping up more than $220 million in fresh funds. Clearly, market participants felt the admin’s whistle had gone off, at least for the moment.
FedGo‑Goes: Miran’s Nomination & Its Impact on Markets
Trump also announced that he’d nominate Stephen Miran, the head of the Council of Economic Advisers, for a spot on the Fed Board. Not a pickup for the chairman, but a temporary shim until January’s official orientation.
- Adriana Kugler exits earlier than her term, giving Trump a window for the appointment.
- Hope flickers for multiple rate cuts—CME’s FedWatch tool now reckons with a >50% chance of a 75‑basis‑point slide by year‑end.
Is the Bull Still Standing?
The earlier hype seemed to wane in the last few hours. Even futures have felt the tug. Bitcoin futures’ open‑interest‑weighted funding rate slid to its lowest in almost a month, bloodhound sellers creeping back in. A sign that the crypto lion may be stalling on its foot.
“Stay Tuned”
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