Crypto folks partied hard this weekend, SEC's Anti crypto Gensler stepping down? New Prediction 📈 to $1.5M Bitcoin

We all love it when crypto market keeps going up. Well… it appears that the Wall Street is on the same train as we are after calling Bitcoin a tulip Bubble. The more the merrier. Welcome to the party ! 🥇

Get ready to read cool scoops from the Crypto World. Lets dive in… 🚀

Scoop in this issue…. 3 minute read.

✍️ Wall Street Banks Cash In on Bitcoin’s Surge to $93,000

✍️ Crypto Villain, Gary Gensler Expected to Step Down as SEC Chair After Thanksgiving —- Finally there is hope for Crypto in the US

✍️ Cathie has a wild prediction for $1.5 million Bitcoin. Lets dig inside this little bit more.

Wall Street Banks have started to jump on the Cypto Wagon.

One of notable personality Raj from Dubai pointed out very interesting points:

Data from the CFTC indicates that leading Wall Street banks significantly increased their Bitcoin futures positions just before the U.S. presidential election, a move that has proven highly profitable. With Bitcoin surging from $62,000 to nearly $93,000, these banks' futures on the CME could now be worth up to $1.4 billion in paper profits!

Key pointers :
🔹 10,564 new contracts added, totaling 52,820 BTC in futures positions

🔹 $3 billion in long positions on Bitcoin futures—clear confidence in crypto despite market volatility

🔹 A strategic move during economic and political uncertainty, showing just how serious Wall Street is about crypto’s potential

✍️ Crypto Villain, Gary Gensler Expected to Step Down

Its early Christmas in the US for Crypto investors.

SEC Chairman has done enough damage to the crypto industry then anyone can think about. Infact, US crypto industry suffered because of unclear policies w.r.t Crypto.

Many well-known figures in the US who got involved in the crypto space were given notices, which created a lot of uncertainty. As a result, blockchain and crypto entrepreneurs felt they had to leave the US to pursue their projects. This exodus stifled innovation in the US blockchain industry.

On the positive side, the new administration is crypto friendly and we all are in hopium to build something big.

More in this link Gary Gensler Expected to Step Down as SEC Chair After Thanksgiving

Bitcoin to the Moon…..to $1.5 Million, says Cathie Wood.

Well…..She did’t say in those words but her prediction is $1.5million.

In a recent interview, she highlighted that clearer regulations are key to strengthening the cryptocurrency market. This development could address many concerns and help pave the way for wider adoption of digital currencies.

According to ARK Invest data, as of November 13, 2024, Bitcoin's price was 1.33 times higher than its previous cycle peak of $67,589 on November 8, 2021. Interestingly, during the 2022 bear market, Bitcoin's maximum drawdown was 76.9%, which is less severe compared to the declines of 86.3% in 2018, 85.1% in 2015, and 93.5% in 2011.

Here is the video on X from Cathie:

With all these positive news from last 2 weeks after Trump winning( Pro Crypto President) , the crypto Bro’s have been partying hard all weekend.

I guess there is no way Crypto industry folks can sit and watch Netflix. In fact, the party hasn’t even started yet.

See you in our next edition with more info on charts and more ! Thats it for Sunday !

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