BTC to Hit $100,000 soon?!

Welcome back to the Daily Coinsauce Newsletter! Let’s dive into today’s updates—there’s a lot to unpack!

📅 Today

BTC Dominance Moons 📈 

Bitcoin Dominance just hit a new cycle high of 59.9%. This means that liquidity still keeps flowing back into BTC, as alts struggle to outperform Bitcoin.

We had predicted this trend many months ago when dominance was below 50%, saving many of our followers a lot of pain in this non-opportunistic period.

Moving forward, we believe that BTC dominance will top off soon and start falling in 2025. No matter what the direction of BTC, BTC Dominance should remain bearish for most of 2025, giving alts their chance to out-perform BTC.

Follow us on our Premium Trading Group to make the most of this once in a lifetime opportunity that is soon to come in the crypto markets. We aim for a 10x in 300 trades in the group.

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MetaPlanet X Bitcoin ❗️ 

Japan’s investment firm Metaplanet has increased its Bitcoin holdings to over 1,000 BTC after a recent purchase of 156.7 BTC for around 1.6 billion yen ($10.4 million).

To support these acquisitions, Metaplanet has occasionally relied on external financing, including a 1 billion yen loan (approximately $6.8 million) from MMXX Ventures, one of its shareholders.

Additionally, on October 23, Metaplanet concluded its 11th round of stock acquisition rights, raising 10 billion yen. A total of 13,774 shareholders participated, purchasing shares at a discounted rate of 555 yen each.

This makes Metaplanet Asia’s biggest BTC holder so far!

• Weekly on-chain insights.

• 3-5 altcoin chart setups.

• In-depth Bitcoin price updates.

• Occasional in-depth reports on altcoin gems.

• VC funding roundups.

• Market cycle insights.

• Premium Telegram trading group, and more.

🌎 Other News

• BTC trades above $70,000 for the first time in 7 months. Read more

• Solana’s phantom wallet suffers major outage. Read more 

• Ethereum withdrawals surge as $750 million gets withdrawn from exchanges. Read more

• Meta builds it’s own AI powered search engine to rival Google. Read more

• Trump’s crypto project WLF plans to create stablecoin. Read more

📕 Educational

Bitcoin is increasingly looking like a coiled spring across a number of different macro indicators, network fundamentals, and idiosyncratic factors.

Macro:

1. Easing inflation & central banks globally easing (BTC tightly correlated with global liquidity)
2. Improving conditions in China (due to fiscal and monetary support).
3. Fiscal support in the US (running a nearly $2T deficit this year!)
4. Credit Markets (spreads are tight, % of banks tightening lending standards is dropping)
5. The Business Cycle (ISM seems to be bottoming, typically met with fiscal and monetary support as we currently see).

BTC Network Fundamentals:

1. Long Term Holders have stepped back into the market as buyers after taking profits in Q2.
2. BTC Miners became net purchaser during Q3, for the first time in over a year.
3. MVRV (Market Value to Realized Value) is very healthy relative to past cycle peaks.
4. ETF performance.

Idiosyncratic Factors:

1. Q4 is best performing quarter for BTC, especially in election years.
2. The market correlates a Trump victory with favorable conditions for crypto.
3. US Gov't and German Gov't done selling billions of BTC.
4. Gold and Microstrategy breakout (both lead a big move for BTC last cycle).

Source : Michael Nadeau.

📊 Stat of the day

🤣 Meme of the day

That concludes our update for today!

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Disclaimer: None of the content shared in the newsletter is financial advice. Always do your own research and analysis before investing.