FameEX Morning Crypto News Recap | November 18, 2024

Pennsylvania Unveils Bitcoin Strategic Reserve Legislation

Dennis Porter, co-founder of Satoshi Action Fund, announced on X that Pennsylvania's "Strategic Bitcoin Reserve" bill is now available on the state website. Proposed by Senators Mike Cabell and Aaron Kaufer, the bill authorizes the state treasurer to invest in Bitcoin, digital assets, and crypto ETFs, marking a significant step in crypto adoption.

$90,000 Emerges as a Crucial Benchmark

The $90,000 mark has emerged as a critical level for Bitcoin, with poor performance in U.S. stocks like Tesla and Nvidia steering attention toward meme coins. Market volatility looms, but with low crypto-macro correlation and minimal significant economic events this week, the macro market is expected to remain steady.

Market Sentiment Hits Yearly High as Fear and Greed Index Climbs to 90

Today's cryptocurrency Fear and Greed Index reached 90, indicating a state of extreme greed in the market, reflecting heightened investor enthusiasm and optimism.

MicroStrategy Founder Michael Saylor Signals Potential Increase in BTC Holdings

MicroStrategy founder Michael Saylor hinted at further Bitcoin acquisitions in a post on the X platform. Saylor stated, “I think there needs to be more 'green dots' on the saylortracker website,” suggesting plans to expand MicroStrategy's BTC holdings.

BlackRock Bitcoin ETF Climbs to 15th Place Among 1,094 Funds

BlackRock manages 1,094 funds with $11.5 trillion in total assets, where its Bitcoin ETF (IBIT) ranks 15th by asset size among the firm's extensive portfolio.

NFT Sales Surge 94% in One Week, Reaching $181 Million

NFT sales surged to $181 million in the past week, a 94% jump from $93 million the previous week. October's total sales hit $356 million, up 18% from September, with transactions rising 42% to 7.2 million.

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