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Puell Multiple Signals 90% BTC Pump!
Marathon Digital Follows The Microstrategy Playbook.
Coinsauce
November 20, 2024
Welcome back to the Daily Coinsauce Newsletter! Let’s dive into today’s updates—there’s a lot to unpack!
💧Top headlines from the last 24 hours:
• BTC Options Go Live On Nasdaq.
• Marathon Digital to Acquire More Bitcoin With $1B Debt Increase.
📕Educational :
• Puell Multiple indicates BTC could soon surge higher.
Lets dive in.
📅 Today
BTC Options Are Here ❗️
As of the time of writing, BlackRock's Bitcoin ETF options are ready to launch on the Bloombergs terminal, and will go live on the Nasdaq.
Why are options on the Bitcoin ETF bullish?
The options on BlackRock’s Bitcoin ETF will settle in $BTC, meaning that when an option contract is exercised, the settlement will involve the actual delivery of BTC to fulfill the contract.
Further, Options on BlackRock's iShares Bitcoin Trust (IBIT) ETF could bring more institutional appetite for Bitcoin.
Marathon Digital Follows Microstrategy ❗️
Marathon Digital, a Nasdaq-listed Bitcoin miner, announced on Nov. 18 it will increase its debt offering to $1 billion, up from an initial $700 million target, due to high investor interest.
These zero-interest senior notes, set to mature in 2030, will be sold privately to qualified institutional buyers.
Marathon, currently holding 27,562 BTC (about $2.5 billion), is the second-largest Bitcoin-holding public company after MicroStrategy.
The funds raised will partly go toward acquiring more Bitcoin and repurchasing $212 million in convertible notes due in 2026.
The Corporate Bitcoin Race is truly heating up!
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🌎 Other News
📕 Educational
With Bitcoin trading at $92,000, the Puell Multiple Is Approaching a Breakout Above Its 365-Day Moving Average
In the past five years, this scenario occurred three times, and after this golden crossover, Bitcoin experienced significant price surges.
In March 2019, a Puell golden cross was followed by an 83% price increase.
Similarly, January 2020 saw a 113% surge, and the most recent cross in January 2024 resulted in a 76% gain
The same is expected to occur this time around as well, as BTC prices look far from overheated, keeping in mind a mid-term future perspective. This means, Bitcoin could be due for another 90% rally before the cycle tops.
📊 Stat of the day
🤣 Meme of the day
Accurate 🤣
That concludes our update for today!
We appreciate you joining us for the latest news. We aim to provide the best-in-class insights and highlights that keep you well-informed and ready.
Remember to join us on Telegram and Twitter for additional updates and giveaways. Until then, see you next time!
Disclaimer: None of the content shared in the newsletter is financial advice. Always do your own research and analysis before investing.
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