Bitcoin (BTC) has shown signs of recovery after experiencing $600 million in liquidations, with analysts indicating a 50% chance for BTC to reach $100,000 in 2024. However, there is speculation that BTC could dip lower before potentially hitting that target, according to reports from Standard Chartered. Additionally, a Brazilian congressman has proposed an $18 billion reserve in BTC. In regulatory news, it has been determined that the U.S. cannot impose sanctions on Tornado Cash, while former President Donald Trump has suggested that the Commodity Futures Trading Commission (CFTC) oversee digital asset regulation. Moreover, if correlations to M2 monetary supply return, BTC could face a 20% drop. Bitwise has submitted an application for a mixed exchange-traded product (ETP) combining BTC and ETH, and XRP has transferred another $25 million to a crypto political action committee (PAC). Meanwhile, Iran plans to launch a digital Central Bank Digital Currency (CBDC) to circumvent sanctions.

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