ExtraOrdinal Daily #56 | Anyone order a $100,000 Bitcoin?

22nd Nov 2024 ||| Issue #56
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Table of Contents

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Todays Top Stories

Anyone order a $100,000 Bitcoin?

Is this the day the laser-eyed prophecy comes to fruition? Will we hit $100,000 exactly two years after the bottom at $16,000? So far, it hasn’t happened yet. Using TradingView as our benchmark, the price has topped around $99,500, coming within half a percent of its intended target.

The exciting price action and impending milestone had many traders, builders, OGs, and newcomers staying up throughout the night with anticipation. Yes, even when I woke up during the night here in the EU, I couldn’t help but check the price.

Looking at the chart above, you can see the massive price increase since Trump was elected as the future president of the United States. Bitcoin has added almost $30,000 to its price since that day, equating to a 44% increase in just 16 days. Now, holders eagerly await this milestone, and with the continuous bullish news surrounding the apex cryptocurrency, logic suggests this can’t take long. However, logic and rationality don’t always predict the erratic and complex nature of human behavior.

Yesterday, some news leaked that significantly increased the odds of a Bitcoin Strategic Reserve being implemented under Trump’s new administration. This move could lead to continuous buying pressure at the highest levels. Some states are also individually creating their own Bitcoin reserves. Earlier this week, Pennsylvania made this announcement, followed by Texas yesterday. Texas, with the second-largest GDP in the United States and its significant role in Bitcoin mining, could make its ambitions even more impactful than Pennsylvania’s.

Another welcome development yesterday was the confirmation that Gary Gensler will step down as SEC Chair on January 20th. Additionally, there’s speculation about Chris Giancarlo possibly being appointed the new Crypto Czar that could further influence the crypto market positively.

Despite all this bullish sentiment and high anticipation, traders and holders should remain aware of potential major volatility, as a massive $3.4 billion worth of BTC and ETH options are set to expire today.

Whatever you do, stay smart, stay aware, and most of all, enjoy these historic days for our industry!

Top Stories | The $DOG Army has a new general!

The FOMO surrounding our beloved Bitcoin ecosystem has become almost too much to handle.

With Ordinals and Runes making their way into the broader crypto news cycle more and more, some of the biggest players are shifting their attention toward the surer bets within the Bitcoin ecosystem. One major and exciting example unfolded today as the $DOG army received news of a new general joining their battlefield in a big way. His name? OG General. His bags? Massive! His intentions? Crystal clear!

It all started with a tweet by OG General himself:

It didn’t take long for the General to put his money where his mouth is.

The ripples of his actions were quickly noticed by others in the market.

Of course, the big question now is: what will he do next? Will he sell for a 25% gain? Probably not. Would he flip for a 2x? It’s hard to speculate. However, in another moment of helpful transparency, he shared his reasoning for the purchase, and it made me think he’s not looking for a modest 2x. He’s here for a bigger mission.

Luckily for all my fellow $DOG holders, so are we.

Top Stories | Magic Eden Rune Swap is live

A long-awaited Magic Eden feature has just launched, making life easier for Rune traders. Ever since Magic Eden shifted its focus toward the Bitcoin ecosystem early on, they have been listening carefully and consistently rolling out highly requested features. Their commendable work ethic has had a massive and unmistakably positive impact on the user experience and adoption within the BTC ecosystem.

Users report an extremely smooth and affordable swapping experience on X, with slippage rates so minimal that they outcompete many centralized exchanges.

🚨 Security Warning | Apple Vulnerability for Crypto Users

Apple has disclosed a critical security flaw affecting iPhones, iPads, and Intel-based Mac systems, potentially allowing hackers to execute malicious code via harmful websites. The vulnerability, identified in JavaScriptCore and WebKit software, could enable attackers to steal sensitive information, such as crypto wallet keys or passwords, if devices are left unpatched. Alarmingly, Apple confirmed evidence of active exploitation on Intel-based Macs.

Users are strongly urged to update their devices immediately to the latest software versions to address this issue. The threat underscores the importance of regular software updates to safeguard personal and financial data against evolving cyber threats.

Daily Bites

Todays Markets

Ordinals

While Bitcoin Pumps, the Ordinal Markets Struggle to Keep Up

As Bitcoin surges, the Ordinal markets are failing to keep pace—a familiar sight for veteran NFT holders. Historically, when the host chain rallies, NFT assets sometimes tend to decline in coin-denominated value and even slightly in USD terms. Bitcoin is definitely stealing the spotlight, with Dominance reaching a 3.5-year high.

All holders can do is hope that attention and profits will eventually rotate into our niche markets once Bitcoin’s gains start to show signs of slowing down.

The newly released $DOG collection is today’s standout performer, boasting a sexy 48% gain—a green island of hope amidst a sea of blood. Yikes, that turned dark quickly.

Also, Bitmap shows some resilience, sitting at the exact same price as yesterday.

Top collections Puppets and Nodemonkes are both down. However, contrary to yesterday Puppets are falling faster than Nodemonkes today, closing the gap between these two market cap leaders to under 0.02 BTC.

Runestone, sitting in third place, also shed nearly 5% today.

Looking beyond the top three and the few non-losers, the broader market reveals a grim picture. Most projects are down between 7% and 15%, amplifying yesterday’s losses.

It’s difficult to predict when the Ordinal market will turn bullish again. Personally, I’m in a buying mood rather than selling. Of course, that’s not financial advice, and for all our sakes, let’s hope for greener pastures ahead.

Runes

Runes aren’t faring much better than Ordinals. The entire top five collections lost value today.

While $DOG saw massive volume again and continues to enjoy support from big players, it still dropped over 6% today. However, given its recent substantial growth, this could be considered a healthy correction.

Pups, in second place, saw an even sharper decline of nearly 20%. The ongoing slump is causing more recent buyers to transition from profit to loss.

The two cat-themed projects, Gizmo and Billy, managed to limit their losses to minimal levels. However, Cypher, the next in line, suffered a more significant drop of 27%.

RSIC remained relatively stable, eking out a modest 0.3% gain.

A bright spot in today’s market was Just a Chill Puppet, the only major winner, up 30%. Here’s hoping it can hold onto some of these gains over the weekend.

Meanwhile, Memento Mori saw minor losses, but the mighty and powerful Bitcoin Bro Bear experienced a surprising and significant setback in its otherwise continuous rally. Could this be the beginning of the end or a wonderful buying opportunity? We all know how unpredictable these markets can be.

Finally, to close the week on a positive note, Based Internet Panda re-entered the top 10 after a long absence, proving to the bigger Runes collections that green is the way forward.

Todays Opportunities

Minting This Week

This weeks hyped mints open to the ExtraOrdinals that won a spot in previous days and weeks. If you’re feeling bullish, prepare those wallets and stay safe!

Project

Date

Price

New Bitcoin Order

Friday 22nd Nov

Free

Generative Wonder Gallery | ARCANE

Friday 22nd Nov

0.00042 BTC

Node Peanuts

Friday 22nd Nov

Free

Giveaways

Currently, there are no active raffles ongoing. However, more giveaways are expected soon, so join the Discord below and make sure you have notifications on so you don’t miss out when the next ones go live!

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Nothing in this or any other ExtraOrdinal Daily publication should be construed as financial or investment advice.

We trust this ExtraOrdinal Daily provided you with the information, insight and opportunities needed to have an ExtraOrdinal day! If you have any questions, suggestions, or a desire to contribute, reach out in the ExtraOrdinals Discord!

See you tomorrow!