Daily Crypto NewsEDITION #1118, 17 December

Optimism, But Is It Worth It?

Today is the International Day to End Violence Against Sex Workers. There’s not much more to add here. Happy professional holiday to all crypto traders, influencers, and media folks!

Now, let’s get to the important stuff — because we value your time, and time is Moni.

What’s Up?

The crypto market is showing extreme optimism. According to Alpractal’s data, here’s where we stand:

- Crypto Twitter is currently in a state of euphoria similar to early 2023 and late 2021 — the beginning and end of the bull cycle.

- The current euphoria even surpasses the levels seen in early 2024 when the BTC ETF launched.

This means a “Santa Claus Rally” might not happen, as overly euphoric markets often fall into a minor (or major) bear trap. We’ll see which one it turns out to be.

Other Big News:

- MicroStrategy bought $1.5 billion worth of Bitcoin at over $100k per coin.

- Ripple is launching its stablecoin today.