qfx December has been a month of tempests and tides for the crypto colossus, following two consecutive months of losses. By the time it breathes, it’s already gasping-for air, for $89,885, for a 2.7% drop in the last day alone. Even the Federal Reserve’s rate cut, a typically cheerful lullaby for crypto, failed to sway the market. Why? Because the music ain’t where the dancers are.
According to the confessions of the digital oracle, Glassnode, the illustrious liquidity of Solana has bonded quite unexpectedly with the dreary figures of past bear markets. As you may well guess from your prior explorations in logic and mathematics, the Realized Profit/Loss Ratio is their magical divining rod.
Bitcoin, that digital enigma wrapped in a blockchain, spent the morning quietly pretending the Federal Reserve’s rate cut even happened, sticking resolutely above $91,000. It seems acknowledging central bank actions is beneath it. The Fed, bless their hearts, admitted things are a bit… uncertain. Which, let’s be honest, is putting it mildly. It’s like admitting the sky is occasionally blue.
A CryptoQuant report, that oracle of digital gold, reminds us of Bitcoin’s dance with Fed rate cuts-a waltz of liquidity and risk appetite. Lower rates weaken the dollar, yes, and risk assets rejoice! But here’s the twist, dear reader: Bitcoin, that cheeky trickster, often rallies before the cut, only to shrug indifferently once the news hits. Markets, it seems, have already feasted on the rumor, leaving little meat on the bone for the announcement. Typical. 🙄
Among the spectators was a chap called Cobb, who, never one to keep his cards close to his chest, wondered aloud if Ripple had indeed sealed some grand deal with Solana, or if it was just another day in the merry dance of blockchain buffoonery.
Apparently, these rate cuts are supposed to make the economy go “yay!” by making borrowing cheaper. The Fed’s been on this kick since September and October, but let’s be real-has it actually worked? 🤔
Michael Saylor, the venerable patriarch of Strategy, has confirmed the receipt of this proposal, revealing that the firm had issued a formal response to the agency, expressing its disagreement on the exclusion plan. One might say it’s as if he’d been handed a lemon and was now politely asking for a refund, albeit with a bit more formality. 🍋
As of press time, UNI clung to $5.5, up 2.1%-a rebound so feeble it’s like trying to inflate a pool float with a straw. Oh, and it dropped below the Parabolic SAR? That’s crypto-speak for “sell here” written in crayon by a bear market toddler. 🚨
As the Federal Open Market Committee (FOMC) gears up for what is surely the most important meeting of the year (or possibly the millennium), Bitcoin (BTC) has been seen loitering around the $92.4k mark, which, in crypto terms, is basically the equivalent of a goldfish asking, “What’s Tuesday?” Meanwhile, the ETH/BTC pair has edged over 7% in the past three days, hovering around 0.0367 during mid-North American trading. If this sounds like a romance novel, it’s probably because someone’s plotting a sequel to “The Little Mermaid” with crypto twists.
Despite the growing whispers of real-world usefulness, XLM is still lingering near a critical support level, a place that’s like the safety net of a circus performer who might or might not fall through. Traders are split, debating whether the token is about to soar or if it’s just another chance for a tumble down the market’s well-worn path. 🪂📉
