📈 GM Munchers! This is Pip Munch, the trading newsletter that’s still recovering from the shock of seeing Bitcoin cross $100K—because wow, it actually happened.

On today’s menu:

• HISTORY: Bitcoin Hits $100,000 🥳

• 14 Controversial Trading Beliefs I Have 😋 

Bitcoin Breaks $100K: What It Means for You 📈 

Last night, around 9:30 PM Eastern, Bitcoin did the unthinkable: it smashed through the $100,000 barrier and hit a new all-time high of $103,600 before retracing slightly.

Let’s break this historic moment down, sprinkle in some trading lessons, and figure out what this means for traders—even if you don’t touch crypto.

The Numbers Are Insane 🤯

Here’s what Bitcoin’s $100K milestone looks like by the numbers:

• Market Cap: $2.05 trillion—bigger than most countries’ GDP.

• 24-Hour Trading Volume: $125 billion. That’s more than I’ll make in 25 lifetimes.

• Year-to-Date Performance: Up +145.24% in 2024. Imagine trying to explain that to your 2022 self.

• Historical Context: This blows past its previous all-time high of $74,000 earlier this year.

Oh, and let’s not forget: this all happened while I was busy missing another long trade because my stop loss was set tighter than a toddler’s grip on their favourite toy.

Why Now? 🤔 

Sure, Bitcoin hitting $100K has been a meme for years, but why now?

Here’s the tea:

1️⃣ Trump’s Libertarian SEC Chair Pick: The President-elect announced someone crypto-friendly to lead the SEC, which has everyone buzzing about easier regulations.

2️⃣ Risk-On Appetite: Bitcoin’s rise signals the market is feeling bold—crypto is still seen as a “risky” asset, and investors are diving in headfirst.

3️⃣ FOMO Is Real: Experts predicted $100K by year-end, but it arrived earlier than expected, sending everyone scrambling to buy before it’s “too late.”

What This Means for Traders (Even If You Don’t Trade Bitcoin)

Bitcoin isn’t just a digital asset—it’s the ultimate barometer of risk sentiment. Here’s why you should care:

1️⃣ Risk Appetite Is Booming:

When Bitcoin rallies, it’s a signal that investors are feeling confident about taking on risk. This usually spills over into other risk-on assets like stocks, commodity currencies (AUD, NZD, CAD), and even other cryptos.

• Case in point? The S&P 500, which has hit over 50 record highs this year, continues to fly.

• Expect a ripple effect across markets if the bullish vibes continue.

2️⃣ Momentum Trading Opportunities:

Bitcoin’s breakout creates momentum everywhere. Whether it’s other cryptos or Bitcoin proxies like MicroStrategy, traders can find plenty of action if they’re quick on the draw.

• But pro tip: don’t FOMO into the hype unless you want to end up crying over your P&L like I did last year when I tried to scalp Dogecoin.

3️⃣ Know the Risks:

Bitcoin’s rise isn’t all sunshine and rainbows. It’s still a highly volatile asset, and what goes up can come down—fast. Use it as a sentiment gauge, but don’t let it cloud your judgment.

Final Thoughts

Bitcoin hitting $100K isn’t just a milestone—it’s a statement.

It’s proof that the markets are thriving on optimism, risk appetite is alive and well, and we’re living through a moment of financial history.

Whether you trade Bitcoin or not, use this as an opportunity to assess the market’s vibe, adjust your trading strategies, and, most importantly, stay sharp.

And who knows? Maybe next year I’ll finally stop setting my stops too tight and join the Bitcoin party.

Let’s keep munching those pips,
Matt 📈

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☕️ Pre-Market Fuel

1. 14 controversial trading beliefs I have. Don’t read if you’re sensitive…

2. $8 billion of Bitcoin shorts will be liquidated at $110,000. And the pump shall continue…

3. The Hawk Tuah Girl launched a meme coin, and it went about as well as you’d expect…

🍪 Munchy Memes

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