🤔 What’s Musk saying about the Fed?
Plus: Some insight into BTC trends
GM. We’re the orchard’s finest at the Daily Squeeze – handpicking blockchain’s ripest stories and blending them into your daily dose of digital juice.
✊ End the Fed movement.
🍊 News drops: Edward Snowden comments on the risks of VC support in decentralized projects, the creator of Bitcoin Fog receives a 12.5-year prison sentence + more
🍍 Market flavor today
Crypto Market Cap: $2.85T 2.28% (24H)
Name
Price
24H
7D
Bitcoin BTC
$82,250.37
3.62%
19.54%
Ethereum ETH
$3,178.91
-0.18%
28.78%
BNB BNB
$622.30
-1.94%
11.12%
Solana SOL
$216.25
5.86%
32.33%
Alexa, play “All I Do Is Win” by DJ Khaled 🎧 The Fear and Greed Index is chilling in the “Greed” zone at a solid 75. Over the weekend, Bitcoin didn’t just tiptoe past a milestone – it sprinted past $80K for the first time and is still holding strong above $82K 🚀
Crypto analyst Crypto Rover suggests that if history repeats itself post-US elections, Bitcoin could soar to $100K by January 2025. On the other hand, CryptoQuant founder Ki Young Ju is pumping the brakes a bit, predicting that BTC might dip below $60K by year’s end due to overheated futures markets.
Meanwhile, the folks over at New York Digital Investment Group (NYDIG) point out that while some investors have hopped aboard the Bitcoin train, most are still standing on the platform. They warn: “Not owning the asset is going to become a liability in the future.” With Bitcoin up 80% year-to-date and outpacing every other asset class, it’s hard to argue with that logic.
But guess who’s definitely not missing out? MicroStrategy (obviously). They’ve bagged an additional 27.2K BTC, bumping their total holdings to nearly 280K BTC worth about $22B.
And the wave of investment doesn’t stop there – inflows into Bitcoin ETFs are still rolling, hitting $293.4M on Friday. Not to be left out, Ethereum ETFs pulled in $85.9M.
Alexa, change the song to “Who Let the Dogs Out” by Baha Men 🐕 Elon Musk’s fave Dogecoin is having its moment in the sun with a 96% weekly increase.
Eco coins are getting their shine, too – for example, Cardano and Algorand jumped by 86% and 33% over the past week, respectively. Why? Word on the street is that Cardano founder Charles Hoskinson might join the Trump administration in 2025.
All in all, the crypto market is buzzing louder than a bee in a sunflower field 🌻🐝 Whether you’re a seasoned trader or just crypto-curious, now might be the time to pay attention.
🙄 Fed up
Elon Musk’s daily agenda:
9:00: Dogecoin.
11:00: Jump next to Donald Trump.
11:05: Colonize Mars.
12:00: Lunch break.
13:00: Shitpost on X.
16:00: End the Fed, apparently.
Musk retweeted Senator Mike Lee, who’s fed up with the Fed (I know, I deserve a raise for this one).
What’s the beef? He threw shade at Fed Chair Jerome Powell for saying he wouldn’t step down even if President Trump asked him to. Lee claims that this isn’t how the Constitution works (’cause the Executive Branch should be under the direction of the President) and that maybe it’s time to, you know, pull the plug.
Now, let’s unpack what the End the Fed gang is about. This movement argues that the Fed, being an independent agency, can print money like there’s no tomorrow, leading to inflation and making your hard-earned dollars worth less.
The Fed’s independence also means that Powell has the power (I’m unstoppable with my words today) to say “No, thanks <3” when asked to leave.
But why is it this way? That’s ’cause the Fed was set up to be free from political pressures so it could make tough decisions for the long-term health of the economy. Besides, without an independent central bank, we’d risk seeing monetary policies swing around like crazy with every new President.
And while we’re at this debate over the potential dangers of centralized control over your money, lemme introduce you to this special thing called ✨ crypto ✨…
📰 News drops
💰 Edward Snowden thinks that when venture capitalists pour big money into blockchain projects, it can mess with their independence. He even called Solana “born in prison,” hinting that all that VC cash might keep it from staying truly decentralized.
⛓ Roman Sterlingov, the creator of Bitcoin Fog, the darknet’s longest-running crypto mixer, got hit with a 12.5-year prison sentence. The DOJ says that over its ten-year run, Bitcoin Fog became the top money-laundering choice for criminals.
ℹ️ Ethereum co-founder Vitalik Buterin dropped an idea called “info finance,” aiming to shake up how info is gathered, checked, and shared across industries. He supports using prediction markets to tap into future insights and make smarter calls.
🏦 Trump’s transition team is reportedly eyeing Richard Farley, a partner at Frankel law firm, as a possible pick to replace SEC Chair Gary Gensler. Adam Cochran of Cinneamhain Ventures called Farley “one of the worst” for the job.
🍌 Juicy memes
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