Bitcoin Soars, But Where Are the Small Traders?

What we’ll cover today:

🗳️ Retail’s Missing from Crypto Rally.

🔮 2024 Election: High-Stakes Gamble for Crypto’s Future.

📉 Bitcoin's $250M Shake-Up: Market Braces Correction

1. Could Crypto Decide The 2024 Election?

Bitcoin’s climbing towards its record high.

But there’s a twist—everyday traders are nowhere to be seen.

Coinbase just reported lower-than-expected revenue:

• Retail trades are down.

• Forecast for Q4 is looking cautious.

So, who’s really driving the price up?

• Big players (institutional investors) are stepping in.

• Smaller traders are holding back.

Even PayPal saw a change:

• 11% drop in crypto holdings among regular customers.

Yet, there’s a spark of hope:

• Bitcoin trading on Coinbase is picking up faster than on Binance.

Could retail traders be gearing up for a comeback?

Here’s the whole article

2. 2024 Election: High-Stakes Gamble for Crypto’s Future.

With millions on the line, investors are backing candidates who support crypto growth.

Here’s what’s happening:

• Massive Funding Push: The crypto industry has already funneled $160 million into campaign donations.

• Record Inflows: BlackRock’s Bitcoin ETF saw a record $872 million inflow in a single day, driven by speculation on a Trump win.

• High-Stakes Showdown:

  • Trump is actively rallying crypto supporters.

  • Kamala Harris, while neutral, has attracted major donations from crypto leaders.

• Election Betting Heats Up:

  • Platforms like Kalshi now allow traders to bet on the election outcome with USDC.

  • It’s a direct challenge to giants like Polymarket.

With volatility looming, this election could be crypto’s most defining moment yet.

Here’s the whole article.

3. Bitcoin's $250M Shake-Up: Market Braces Correction.

Just as Bitcoin was hitting new highs, a sudden 4% drop pulled the brakes.

Over $250 million in bullish bets were wiped out as traders scrambled.

The “Fear and Greed” Index flashed “extreme greed” – historically a sign of an upcoming correction.

Bitcoin’s plunge from $72,500 to around $69,000 triggered a domino effect across:

• Major cryptocurrencies are all facing declines.

• A 5.5% drop in total market cap.

• Big losses for futures traders ($88M in BTC, $44M in ETH, $15M each in SOL and DOGE).

Nearly 90% of futures bets had been bullish, with high hopes of hitting $80,000.

Record-high open interest, alongside massive liquidations, signals a potential market shift.

Here’s the whole article