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Cumberland Morning Color
Good Morning and Happy Monday (and Happy $40k) from Cumberland APAC! As of this morning, BTC is up around 16% since November 1st, which marks the first time since 2021 that BTC had two consecutive months of 10%+ growth. While crypto traders likely have some time off planned this December, it seems unlikely to be a quiet month. With the spot ETF expected by many to be approved in early January (bad news for folks at the SEC who wanted time off in December), the end of the year so far has been about positioning for not just the potential ETF announcement, but for the new normal that comes after. It’s notable that while the 24% rally in October was more driven by headlines and crypto-native spot buying, November appears to have been more...