Texas has officially bought the Bitcoin dip, acquiring $5 million worth of BlackRock's IBIT ETF as BTC trades in high volatility. At the same time, JPMorgan has applied to launch a new Bitcoin-backed bond, signaling a massive institutional shift as analysts warn a short-squeeze setup may be building under the surface.
Meanwhile, Strategy (MicroStrategy) has unveiled a new credit gauge to calm debt concerns after the recent crash, Tether now holds 116 tons of gold, rivaling national reserves, and a new Bitcoin cashback shopping app hits the market just ahead of Black Friday.
Today we break down the squeeze risk, Texas dip-buying, JPMorgan's expanding Bitcoin footprint, and what all this means for the next leg of the cycle.
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