Fiat inflation drives crypto adoption across the globe

Houdini Swap has launched Houdini Pay, a new payment service designed for freelancers that enhances privacy by breaking on-chain links between counterparties, providing a layer of anonymity in transactions. This service aims to cater to the growing demand for privacy-focused financial solutions in the cryptocurrency space.

Australia is advancing legislation to regulate cryptocurrency platforms under the same financial laws that govern traditional financial institutions. This move aims to enhance consumer protection and establish a more secure environment for digital asset transactions.

Two new XRP exchange-traded funds (ETFs) launched recently, absorbing 80 million tokens, coinciding with a bullish price formation after encountering resistance at $2.20. This development indicates a significant uptick in interest and investment in XRP, reflecting a positive sentiment in the cryptocurrency market.

Bitcoin's 200-day trend has shifted to a bearish stance, indicating a potential end to the current bull market, although some analysts remain skeptical about this conclusion. This shift comes amid a backdrop of declining open interest and significant price fluctuations in the cryptocurrency market.

Recent data indicates that Bitcoin's miner margins and NVT metric suggest a potential bottom range, although a final downside sweep remains a possibility. This bearish mining data may serve as a counter signal, potentially encouraging a rally driven by spot trading in Bitcoin.

Bitcoin whale deposits to exchanges surged to 9,000 BTC on November 21, with large holders accounting for 45% of the inflows, raising concerns about a potential deeper price drop if this trend continues.

The Federal Reserve is poised to end its multi-year balance-sheet reduction, a shift that is beginning to influence discussions around Bitcoin and the broader cryptocurrency market. This transition marks a significant change in monetary policy, with analysts drawing parallels to previous instances when Quantitative Tightening (QT) was halted.

Bitcoin is experiencing a surge in price, approaching key resistance levels around $88,000, with predictions of a potential short squeeze that could push the cryptocurrency to $89,000 or higher. This movement coincides with a rise in U.S. stock markets, particularly the S&P 500, which is just 2% shy of its all-time high.