FameEX Morning Crypto News Recap | November 18, 2024

Pennsylvania Introduces Legislation for Bitcoin Strategic Reserve

Dennis Porter, co-founder of Satoshi Action Fund, shared on X that Pennsylvania's "Strategic Bitcoin Reserve" bill is now public. Introduced by Senators Mike Cabell and Aaron Kaufer, the bill empowers the state treasurer to invest in Bitcoin, digital assets, and crypto ETFs, signaling a major move toward broader cryptocurrency adoption.

$90,000 Marks a Critical Threshold

Bitcoin’s $90,000 level has become a pivotal point, as weak performances from U.S. stocks like Tesla and Nvidia shift focus to meme coins. While market volatility is possible, the crypto-macro correlation is low, and limited key economic events suggest a steady macro outlook this week.

Yearly High Achieved: Fear and Greed Index Reaches 90

The cryptocurrency Fear and Greed Index hit 90 today, signaling extreme greed and showcasing elevated levels of investor enthusiasm and market optimism.

MicroStrategy Founder Michael Saylor Hints at Expanding BTC Holdings

MicroStrategy founder Michael Saylor hinted at increasing Bitcoin holdings in a post on the X platform. He remarked, “I think there needs to be more 'green dots' on the saylortracker website,” signaling potential BTC acquisitions.

BlackRock Bitcoin ETF Secures 15th Spot Among 1,094 Funds

BlackRock oversees 1,094 funds totaling $11.5 trillion in assets, with its Bitcoin ETF (IBIT) ranking 15th in size, highlighting the growing prominence of crypto within the firm’s diverse portfolio.

NFT Sales Skyrocket 94% in a Week, Hitting $181 Million

NFT sales soared to $181 million this week, a 94% increase from $93 million the previous week. October’s total sales reached $356 million, marking an 18% rise from September, with transaction volume climbing 42% to 7.2 million.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.​