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Is crypto about to replace Japan's central bank?

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Plus: Bitcoin's building pressure for a big move

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GM. If your crypto feed feels like a basket of mystery berries, don't worry - we're here to taste-test before you bite.

Here's the pick of today's harvest:

🍍 Bitcoin tension builds;

💴 Stablecoins fill big shoes;

🍋 SoftBank pivots Nvidia funds to OpenAI, SoFi adds crypto trading + more

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🍍 Market flavor today

Fear and Greed Index
Find out more about the Fear & Greed Index here.

 Crypto Market Cap: $3.48T -0.94% (24H)
  Name   Price 24H 7D
Bitcoin Bitcoin BTC $102,382.45 -1.28% -1.13%
Ethereum Ethereum ETH $3,413.34 -2.25% 0.50%
XRP XRP XRP $2.35 -3.61% 3.65%
BNB BNB BNB $948.54 -2.94% -1.21%
Solana Solana SOL $154.16 -4.20% -3.37%
Prices as of 11:00 AM EST. Click here to see live data.

You know that feeling when you're staring at the toaster, waiting for the bread to pop, and it's been so long you start wondering if you even pushed the lever down?

That's Bitcoin right now.

It's just swinging between $102K and $105K, sizzling softly, not burning, not popping, while everyone else stares, forks in hand, ready to eat.

Bitcoin price chart from BitDegree, 11-12

Source: BitDegree

But technical traders keep pointing at this thing called a falling wedge.

Basically, the chart's been squeezing tighter for weeks, with each bounce getting a little lower than the last. The highs are dropping, the lows are dropping, but they're getting closer together.

It's like the price is being funneled into a corner, pressure building with nowhere left to go.

And usually, that kind of setup ends with a breakout up, not down.

If Bitcoin can punch through the top of that wedge at around $106K - $107K, the next stop traders are looking at is around $115K.

No promises, tho'. Patterns aren't prophecies, but it's definitely something that makes people sit up straight and start refreshing their charts a little faster.

Bitcoin 3-month price chart from BitDegree, 11-12

Source: BitDegree

So yeah, it's one of those quiet days. But don't look away.

Because every time Bitcoin's this still, it's usually right before it makes big moves - and when that toast finally pops, it's gonna startle everyone holding the knife.

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🥝 Memecoin harvest

Memes printing harder than Bitboy on court docs 🖨️

Data as of 09:35 AM EST.

Check out these memecoins and plenty more here.

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💴 Stablecoins fill big shoes

Imagine you're at a big family dinner. Everyone's full, plates are empty, and the waiter drops the check on the table.

For years, Dad's been the one who pays. But this time, just before the waiter arrived, he headed to the bathroom.

The table goes quiet. The waiter's still standing there. Unc Bob sighs, reaches for his wallet, and ends up paying.

Meme about paying the bill

That, my friends, is basically what's happening in Japan right now.

Only this time, Dad is the Bank of Japan, the bill is a government debt, and Unc Bob pulled out a wallet full of stablecoins.

Last month, JPYC, a Tokyo-based startup, launched Japan's first fully regulated yen-pegged stablecoin.

So far, they've issued about $930K worth of tokens, and they're aiming for a $66B circulation over the next three years. That's a whole other league.

Now, the interesting part: JPYC is putting 80% of it into Japanese government bonds, and the rest into savings accounts.

Tweet about stablecoin issuers replacing Bank of Japan

Source: @jtaimoor879

Here's the bigger picture: for years, the Bank of Japan has been the country's main bond buyer - basically the biggest customer for Japan's own debt.

But lately, it's been reducing how many bonds it buys each month.

That's a big deal because when the BOJ buys fewer bonds, it takes away a major source of demand - and that can make it harder, or more expensive, for the government to keep financing its debt.

That leaves a gap in the market, and that's where JPYC might step in.

In plain English: a private crypto issuer might end up doing, in miniature, what Japan's central bank has been doing for years.

So next time someone says crypto's just hype, tell 'em: "In Japan, it's literally helping pay the country's bill."

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🍋 News drops you can't miss

💸 Got friends or family in Nigeria and tired of the transfer struggle? We found the smoothest, cheapest ways to get your money there - check the list.

💰 SoftBank sold off its whole $5.83B chunk of Nvidia. They're putting that money into OpenAI now.

🏦 SoFi's now the first US bank to let you trade crypto straight from your account. You can now buy and sell stuff like Bitcoin and Ethereum right in the app.

📉 Bitcoin's November run looks like it's getting skipped this year. Bitfinex says prices are staying flat since the financial climate's getting looser.

📹 Rumble, the YouTube alternative, wants to buy German AI company Northern Data. Tether's backing the deal and already owns most of Northern Data anyway.

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🍌 Juicy memes

Meme about trading advice and contrasting emotions in relationships.

Source: @CryptoMemes

Meme about time dilation and crypto investing humor in space.

Source: @CryptoTea_

Meme about breaking news and cryptocurrency price fluctuations.

Source: @BitcoinMemeHub

Gode S. Web3 Market Analyst
Gode is a Web3 Market Analyst who researches the most important industry events and interprets how they affect the wider Web3 space. Her formal education in media culture & digital rhetoric allows her to employ a methodical approach to evaluating critical Web3 news data, including large-scale events and the wider social sentiment within the ecosystem.
Gode is a mutilingual professional, having studied in multiple universities all across Europe. This allows her to have a one-of-a-kind opportunity to analyze Web3 social sentiments spanning different cultures and languages and, in turn, develop a much deeper understanding of how the Web3 space is growing within different communities. With the rest of her team, Gode works to identify crucial crypto news patterns and provide unbiased and data-driven information.
Gode’s passions include working and communicating with people, and when she’s not researching Web3 news, she spends her time traveling and watching true crime documentaries.

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