The slide of Bitcoin below $88,000 on Sunday morning puts the market in a "no Santa rally" zone this year, and forecasts suggest that December may be "coal" more than it is "sweets" for traders.
Key points regarding the decline and its impact:
• Liquidation of positions and volatility in futures: The drop caused confusion and panic among derivatives traders with fluctuating open interest, leading to large liquidation waves of leveraged long positions.
• Structural pressure factors: Analysts attribute this decline to a general onset of risk aversion in December, weak inflows to Bitcoin exchange-traded funds (ETFs), and an absence of dip buyers.
• Short-term bearish trend: After failing to hold above key resistance levels, Bitcoin is facing increasing pressure to confirm a short-term bearish trend.
• Next support levels: Traders are watching the next key support level at $87,000 or even $80,000, where it is likely to be determined whether the current correction is a temporary pause or a deeper trend shift.
U.S. Sovereign Debt Surpasses $30 Trillion for the First Time
According to Odaily, the total sovereign debt issued by the U.S. Treasury has exceeded $30 trillion for the first time, more than doubling since 2018. Data released on Thursday indicates that as of November, the U.S. government's outstanding Treasury bills, notes, and bonds have reached $30.2 trillion. This amount constitutes the primary component of the federal total debt, which stands at $38.4 trillion, including obligations to Social Security trust funds and savings bond holders.The Securities Industry and Financial Markets Association reports that in 2020, the U.S. raised $4.3 trillion through the issuance of these three types of government securities, with the fiscal deficit surpassing $3 trillion that year. Although the deficit has narrowed since then, projected to decrease to approximately $1.78 trillion by the 2025 fiscal year, interest payments alone amount to $1.2 trillion.Jason Williams, a rate strategist at Citigroup, highlighted the significant challenge posed by interest expenses. He noted that even if tariff revenues reach $300-400 billion, they fall short of covering the interest payments on existing debt. Williams likened the situation to being trapped in quicksand, where tariffs might slow the descent but cannot prevent it entirely.
U.S. Sovereign Debt Surpasses $30 Trillion for the First Time
According to Odaily, the total sovereign debt issued by the U.S. Treasury has exceeded $30 trillion for the first time, more than doubling since 2018. Data released on Thursday indicates that as of November, the U.S. government's outstanding Treasury bills, notes, and bonds have reached $30.2 trillion. This amount constitutes the primary component of the federal total debt, which stands at $38.4 trillion, including obligations to Social Security trust funds and savings bond holders.The Securities Industry and Financial Markets Association reports that in 2020, the U.S. raised $4.3 trillion through the issuance of these three types of government securities, with the fiscal deficit surpassing $3 trillion that year. Although the deficit has narrowed since then, projected to decrease to approximately $1.78 trillion by the 2025 fiscal year, interest payments alone amount to $1.2 trillion.Jason Williams, a rate strategist at Citigroup, highlighted the significant challenge posed by interest expenses. He noted that even if tariff revenues reach $300-400 billion, they fall short of covering the interest payments on existing debt. Williams likened the situation to being trapped in quicksand, where tariffs might slow the descent but cannot prevent it entirely.
U.S. Sovereign Debt Surpasses $30 Trillion for the First Time
According to Odaily, the total sovereign debt issued by the U.S. Treasury has exceeded $30 trillion for the first time, more than doubling since 2018. Data released on Thursday indicates that as of November, the U.S. government's outstanding Treasury bills, notes, and bonds have reached $30.2 trillion. This amount constitutes the primary component of the federal total debt, which stands at $38.4 trillion, including obligations to Social Security trust funds and savings bond holders.The Securities Industry and Financial Markets Association reports that in 2020, the U.S. raised $4.3 trillion through the issuance of these three types of government securities, with the fiscal deficit surpassing $3 trillion that year. Although the deficit has narrowed since then, projected to decrease to approximately $1.78 trillion by the 2025 fiscal year, interest payments alone amount to $1.2 trillion.Jason Williams, a rate strategist at Citigroup, highlighted the significant challenge posed by interest expenses. He noted that even if tariff revenues reach $300-400 billion, they fall short of covering the interest payments on existing debt. Williams likened the situation to being trapped in quicksand, where tariffs might slow the descent but cannot prevent it entirely.
There are many talking about $ZEC reaching one thousand dollars and $DASH reaching 700 dollars Will this really happen? What do you all expect? $BTC {future}(BTCUSDT) {future}(ETHUSDT)
📛 Hello everyone, I have a problem and I need your help with it:
I have USDT balance on the (ERC20) Trust wallet and I want to send it to a Binance address, but every time I try it asks me for a fee $ETH
I thought I would convert from USDT to $ETH to save on network fees, but another message pops up saying: "You do not have enough Ethereum (ETH) balance to cover the network fees"
🙂 This means I can't send USDT, nor can I convert it to ETH, and everything is stuck because I don't have ETH at all.
🚀🔥 Elon Musk's new war on "fake" currencies — Statement December 3rd**
Today, Elon Musk made a fiery statement that angered many small cryptocurrency projects, saying:
"I will not allow fraudulent cryptocurrency advertisements on platform X. Fake projects will be banned immediately."
Musk added that he is working on:
✔ An auditing system for projects before allowing advertisements ✔ Banning any currency that uses his image or name to attract investors ✔ Enhancing protection against fake accounts promoting fictitious projects ✔ Strict filtering of crypto ads within X
⸻
🎯 Why is this statement dangerous and impacting the market?
1️⃣ Many MEME coins rely solely on Elon’s name. After this decision… they may disappear from X entirely.
2️⃣ Projects exploiting his image to attract FOMO may face immediate bans.
3️⃣ The platform may become a “cleaner” environment for actual projects like DOGE, XAI, and Floki.
4️⃣ A significant reduction in misleading ads is expected within a few weeks.
⸻
⚠️ Summary
Musk’s statement today could shake up the meme coin market, and completely reshape the landscape… especially for projects that rely solely on his name without fundamentals.
Not investment advice — do your own research (DYOR).
🚀🔥 Elon Musk's new war on "fake" currencies — Statement December 3rd**
Today, Elon Musk made a fiery statement that angered many small cryptocurrency projects, saying:
"I will not allow fraudulent cryptocurrency advertisements on platform X. Fake projects will be banned immediately."
Musk added that he is working on:
✔ An auditing system for projects before allowing advertisements ✔ Banning any currency that uses his image or name to attract investors ✔ Enhancing protection against fake accounts promoting fictitious projects ✔ Strict filtering of crypto ads within X
⸻
🎯 Why is this statement dangerous and impacting the market?
1️⃣ Many MEME coins rely solely on Elon’s name. After this decision… they may disappear from X entirely.
2️⃣ Projects exploiting his image to attract FOMO may face immediate bans.
3️⃣ The platform may become a “cleaner” environment for actual projects like DOGE, XAI, and Floki.
4️⃣ A significant reduction in misleading ads is expected within a few weeks.
⸻
⚠️ Summary
Musk’s statement today could shake up the meme coin market, and completely reshape the landscape… especially for projects that rely solely on his name without fundamentals.
Not investment advice — do your own research (DYOR).