[Bitwise: Expectations Related To The US Bitcoin Strategic Reserve Drive The Crypto Market Up] This Week, Cryptocurrencies Have Taken Center Stage, Outperforming Traditional Assets. The Bitwise Europe Report Attributes The Rise To Growing Optimism About US Policy Initiatives And Ongoing Bitcoin Supply Tightening. At The Heart Of The Report Is A Discussion About The Potential Establishment Of A Strategic Bitcoin Reserve In The United States. Pennsylvania Has Enacted Legislation To Support Such Reserves, Sparking Speculation That Other States May Soon Follow Suit. Betting Activity On Polymarket Has Amplified This Expectation, With The Predicted Probability Of Establishing A National Bitcoin Reserve Soaring To More Than 50% Last Week. The Report Also Delves Into Bitcoin's Supply Constraints, Which Coincide With Growing Demand From ETFs And Companies. The Surge In Inflows Into US Spot Bitcoin ETFs Has Outpaced Bitcoin's Overall Supply Growth, Creating An Imbalance Between Supply And Demand. This Shortage Is Reflected In Bitcoin's Liquidity And High Liquidity Supply Indexes, Both Of Which Have Fallen To Historic Lows. Companies Are Increasingly Accepting Bitcoin As A Reserve Asset, And Companies Such As Microstrategy Have Purchased Large Amounts Of Bitcoin, Reinforcing This Trend. The Researchers Further Explained That Bitcoin Is Not The Only Cryptocurrency That Has Benefited From A More Transparent Regulatory Environment In The United States. Altcoins Including XRP And Meme Coins Like DOGE Have Also Made Progress. The Department Of Government Efficiency Has Taken A Crypto-friendly Stance, Adding Momentum To These Assets (particularly For DOGE). However, Ethereum Has Not Kept Pace. This Lag May Be Related To Capital Flows That Favor Other Cryptocurrencies. On The Broader Economic Front, The US CPI Data For October Was In Line With Forecasts. Combined With Other Indicators, This Reinforces Expectations Of A Possible Fed Rate Cut In December, Bringing Another Variable To The Evolving Crypto Narrative. (Bitcoin.com)