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Crypto dollar storm is coming in Argentina:
New Economic Measures Shake the Value of the Digital Dollar

In exactly a very bold move, Javier Milei's government has taken an economic turn that not only redefines the value of the official dollar in Argentina, but also places the "Argentine crypto dollar" at the center of the financial stage.

With the rise in the value of the wholesale dollar to $800, a jump of 118%, and changes in the card dollar, the cryptocurrency market is illuminated as an alternative for investors in the face of economic uncertainty.

New economic policies have driven the adoption of the crypto dollar in
Argentina. Peso instability and currency restrictions have led to an increase in the exploration of cryptocurrencies as a haven.

In a context of crypto dollar prices oscillating between $990 and $1,100, this digital currency is establishing itself as an attractive option for those seeking diversification and protection against inflation.

Market volatility reflects economic uncertainty. With buying and selling rates of the crypto dollar in Argentina showing notable fluctuations, investors consider this digital currency as a smart strategy in the face of economic and political changes. Cryptocurrency is establishing itself as a reliable and practical option.
The price of the crypto dollar in Argentina, located between $990 and $1,100, becomes an essential barometer to evaluate market confidence and economic health. Investing in cryptocurrencies is perceived as a prudent response to instability. #USDT #Argentina $TUSD $USDC

Gift of the day by season, open it only for today:

🧧 BPHIIY76UY

The largest digital asset saw a decline of almost 5% in just over an hour, going from $43,800 to an intraday low of $41,780 during the Asian trading session on Monday, December 11. At the time of writing, BTC was trading around $26,800 back then.

“After its eight consecutive green weeks, Bitcoin is finally taking a breather,” observed the macroeconomics outlet
Kobeissi Letter.

After its eighth consecutive green week, Bitcoin is finally taking a breather.
Interestingly, the drop also comes at a time of low volume and liquidity.
We have seen great similar...
pic.twitter.com/CGcHvaEWcp

- Kobeissi's letter (@KobeissiLetter) December 11, 2023
Bitcoin price drop
On December 11, the cryptanalysis company
CryptoQuant asked what data had changed before the price correction of
ВТС.
The stablecoin supply ratio (SSR) has hit a two-year high, it reported. This means that "Bitcoin is perceived to have a higher value compared to stablecoins, demonstrating that market participants are placing a higher value on
"Bitcoin".

There is more than 50% of the circulating supply with profits. This metric has previously signaled the distribution “to either a local high or a major high for BTC,” he noted.

"Despite overall bullish sentiment, a significant subset remains underwater" in long-term holder resistance, he reported.
Additionally, this week is a big macroeconomic week with several central banks, including the Federal Reserve, announcing interest rate decisions. Derivatives platform Greeks Live commented:
"Now that most forecast data does not support any rate hikes, all major asset classes are adjusting their prices for the imminent end of the rate hike cycle."#btc$BTC