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Bitcoin (BTC) temporarily dropped below the $100,000 mark. Meanwhile, BTC is trading at $99,655.97, up 3.01% from the previous day, as of 04:49 on the 6th, based on the Binance Tether (USDT) market.
According to Watcher Guru on the 5th (local time), Elon Musk, CEO of Tesla, and Vivek Ramaswamy have arrived at the U.S. Capitol in Washington D.C. to lead the newly created 'Department of Government Efficiency (D.O.G.E)' under the second Trump administration.
Stuart Alderoty, Ripple (XRP) Chief Legal Officer (CLO), noted on the 5th (local time) via X (formerly Twitter) that "the United States Securities and Exchange Commission (SEC), led by Gary Gensler, instead of halting lawsuits against cryptocurrency companies ahead of the new administration, reiterated the absurd claim that cryptocurrencies have no intrinsic value through an 81-page report related to the Binance lawsuit submitted the previous day."
Crazzyblockk, a contributor to CryptoQuant, stated on the 5th (local time) via X (formerly Twitter) that "14.5 million Bitcoin (BTC) are held by long-term holders, and 5 million BTC are held by short-term holders," adding that "the short-term holder share is 52% based on BTC market capitalization." He continued, "Historically, at the peak of a bull market, the share of short-term holders in the realized market capitalization (calculated based on the price at the last movement of each Bitcoin) is over 80%," analyzing that "this means there is a possibility for BTC to rise further." Meanwhile, BTC is trading at $101,000.01, up 6.13% from the previous day, as of 02:23 on the 6th in the Binance Tether (USDT) market.
Bitcoin (BTC) temporarily dropped below the $101,000 mark. Meanwhile, BTC is trading at $100,671.73, up 6.07% from the previous day, as of 02:23 on the 6th, based on the Binance Tether (USDT) market.
On the 5th (local time), according to cryptocurrency-focused media CoinDesk, JP Morgan reported that "a total of $11 billion flowed into Bitcoin (BTC), Ethereum (ETH) spot ETFs, and MicroStrategy (MSTR) ETFs in November," noting that "this is the largest monthly inflow on record. Of this, the MSTR Leverage ETF accounted for $3.4 billion, making up one-third of the total." They further analyzed that "this inflow trend is due to increasing investor demand to expand BTC exposure through ETFs," and noted that "the rising stock price of MSTR reflects investor optimism about the company's potential earnings. The impact of the MSTR Leverage ETF on the cryptocurrency market is also gradually increasing."
According to The Block, a cryptocurrency-focused media outlet, Eric Zhang, a former Binance executive and managing partner of the crypto venture fund Nomad Capital, has launched a new ICO (Initial Coin Offering) platform called BuidlPad. Eric Zhang previously led Binance Launchpad, overseeing the ICOs of over 20 projects including BitTorrent, Polygon, and Axie Infinity. Meanwhile, to participate in BuidlPad, customers must undergo KYC (Know Your Customer) verification, and participation is restricted in certain regions such as the United States and China.
According to Decrypt, a cryptocurrency-focused media outlet, on the 5th (local time), Valentin Fournier, an analyst at digital asset analysis firm BRN, analyzed that "buy orders for Bitcoin (BTC) at $100,000 exceed 4600 BTC, forming a strong support level." He added, "Sell orders exist below $110,000 at about 3400 BTC, which is a weaker resistance compared to the barrier when it previously surpassed $100,000." Meanwhile, BTC is trading at $100,175.03, up 5.89% from the previous day, based on the Binance Tether (USDT) market as of 00:29 on the 6th.
On the 5th (local time), the UK's economic journal Financial Times (FT)'s daily service Alphaville reported, "Since June 2011, we have explained to our readers that Bitcoin is playing a zero-sum game as a store of value and is an inefficient means of currency exchange." It continued, "We might have instilled the perception that Bitcoin's price is a measure of hype," adding, "While we stand by these assessments, as Bitcoin's price recently surpassed $100,000, a significant number of readers are demanding an apology from us. Therefore, we apologize to our readers who did not invest in Bitcoin based on our articles." Meanwhile, BTC is trading at $101,757.03, up 5.89% from the previous day, as of 00:29 on the 6th, based on the Binance Tether (USDT) market.
Bitcoin (BTC) temporarily dropped below the $102,000 mark. Meanwhile, BTC is trading at $101,757.03, up 5.89% from the previous day, as of 00:29 on the 6th, based on the Binance Tether (USDT) market.
The three major indices of the U.S. stock market are showing mixed trends. The Nasdaq Composite Index is trading at 19,733.35 points, down 0.01% from the previous day as of 00:00 on the 6th. The Dow Jones Index is up 0.01% at 45,017.15 points, and the S&P 500 Index is up 0.03% at 6,088.30 points.
The three major U.S. stock indices closed up. The composite index rose 1.29% from the previous day to record 19,732.87 points. The index rose 0.69% to 45,014.04 points, and the index rose 0.59% to 6,085.90 points.
Stuart Alderoty, Ripple (XRP) Chief Legal Officer (CLO), stated on the 4th (local time) via X (formerly Twitter) that "the appointment of Paul S. Atkins, known for his friendly asset (deregulation) stance, as the next U.S. Securities and Exchange Commission (SEC) commissioner, will contribute to investor protection while simultaneously challenging the SEC's established norms with the triple politics of Hester Peirce, an SEC commissioner known for her dissenting views." Previously, after Trump nominated Paul S. Atkins as the next SEC commissioner, Atkins was appointed by the main committee of the presidential transition team.
On the 4th (local time), the Federal Reserve (Fed) released the Beige Book, reporting on the economic conditions of 12 regions in the United States. Among the 12 regions under the jurisdiction of the Federal Reserve Banks, three regions experienced mixed or volatile economic activity, while two regions saw a decrease in volatility. The Fed stated, "Employment levels have remained mixed or increased in volatility across all 12 regions. Although the hiring by companies has slowed, the level of layoffs has also decreased." Furthermore, it was noted that "next year, employment is expected to remain stable or increase in volatility." The Beige Book is a report that compiles recent economic trends by contacting banks, companies, and experts in each of the 12 regions covered by the Federal Reserve Banks.
Bitcoin (BTC) temporarily recovered to 98,000 dollars. Meanwhile, BTC is trading at 98,119.98 dollars, up 2.80% compared to the previous day based on the Binance Tether (USDT) market as of 5:14 AM on the 5th.
On the 4th (local time), according to the specialized media Cointelegraph, virtual asset (cryptocurrency) exchanges like Donald Trump have shown an increase in the market after winning the U.S. presidential election on November 5th (local time), with Binance US and Coinbase among them. Tom Duff Gordon, VP of International Policy at Coinbase, stated, "With a crypto-friendly Trump administration, Coinbase expects to do more work with tokens that were previously unavailable," and added, "We are in discussions about smaller tokens and Bitcoin."
Bitcoin (BTC) momentarily rebounded to 97,000 KRW. Meanwhile, BTC is trading at 97,138.30 KRW, up 1.89% compared to the previous day based on the Binance Tether (USDT) market as of 5:04:56 AM.
Jerome Powell, the chairman of the Federal Reserve (Fed), attended a session at the New York Times DealBook Summit on the 4th (local time) and stated that he does not agree with the opinion that Bitcoin (BTC) signifies a lack of trust in the dollar. He mentioned that Bitcoin is seen as an investment asset like gold, and that it is similar to digital gold.
Jerome Powell, the chairman of the U.S. Federal Reserve (Fed), expressed concerns about the role of virtual assets in the banking system during a question about Bitcoin (BTC) reserves at a New York Times event held in Delaware on the 4th (local time). He stated, "We are concerned about what role virtual assets (digital currency) should play in the banking system," but added, "However, we do not regulate virtual assets and are not responsible for this sector." He explained that he does not currently own any virtual assets in response to a panel question about whether he owns any virtual assets.
Jerome Powell, the chairman of the Federal Reserve System, attended the New York Times DealBook Summit on the 4th (local time) and stated, "The employment rate in the United States remains very low, and inflation is progressing to some extent," adding, "Although it will take some time, the Federal Reserve aims to lower the interest rate to a neutral interest rate level."
Bitcoin (BTC) temporarily recovered to 96,000 KRW. Meanwhile, BTC is trading at 96,184.04 KRW, up 0.94% compared to the previous day on the Binance Tether (USDT) market as of 5 days, 03:48.
On the 4th (local time), Cointelegraph reported using CC Data's report that "the trading volume of Centralized Exchange in November exceeded 10 trillion won for the first time, reaching an all-time high." The monthly trading volume surpassing 10 trillion won is a first. The trading volume increased by about 100% compared to the previous month. In particular, the increase in trading volume was driven by the spot market, recording 3.4 trillion won, a 130% increase compared to the previous month. On the other hand, the trading volume in the derivatives market increased by 90% compared to the previous month, totaling 7 trillion won.
According to Forbes on the 4th (local time), Donald Trump, the US President-elect, has officially announced the appointment of Paul Atkins, a former SEC commissioner known for his favorable stance towards virtual assets (cryptocurrency), as the next chairman of the US Securities and Exchange Commission (SEC). Trump emphasized that "Paul Atkins is aware of the fact that digital assets, which are revolutionizing the great United States, are more important than ever."
On the 4th (local time), according to Eleanor Terrett, a Fox Business reporter, Nathan McCauley, the CEO of the virtual asset staking and custody service company Anchorage, stated that they were "refused services by a specific bank since January 2023 due to their involvement in the virtual asset business."
Vitalik Buterin, the creator of Ethereum (ETH), stated in an interview with Upbit on the 4th (local time) that "it is almost impossible for the Ethereum Foundation to sell the tokens it holds and cover operational costs." He further explained, "In each case, the foundation demands complete transparency and insists on not trading ETH," adding, "Someone else maintains a robust financial structure for the foundation, not selling tokens, and should provide more support to core developers." He also stated, "This cannot satisfy everyone. Also, there is no incorrect information regarding the foundation's ETH sales," adding, "Recently, a blockchain address sold 5000 ETH, but that address is not one we hold." He emphasized, "In the past, we supported developers through the relevant address, and this fund has long been transferred elsewhere," adding, "In August, when the foundation sold 35,000 ETH, it was done through a different Kraken's OTC Channel, and it was conducted strategically to minimize market impact."
According to the Financial Times on the 4th (local time), the UK National Crime Agency (NCA) is at the center of a large-scale investigation into a 'Global Assets' fraud case involving multiple countries. The scale of the fraud is reported to be in the tens of billions of dollars. The NCA stated, "So far, the investigation has revealed that drug cartels, money launderers, and Russian spies have used the fraud network," adding, "They primarily used USDT (Tether) to launder money." Furthermore, the NCA emphasized, "This investigation is the largest fraud case in NCA history," and "we are focusing all our investigative capabilities on tracking the network."
According to local time on the 4th, Eric Adams, a representative proponent of cryptocurrency (cryptocurrency abolition) and a politician in the New York market, said, "When I first bought Bitcoin (BTC), many people laughed at me, but now the ones laughing are me."
Bitcoin (BTC) temporarily rebounded to 95,000 dollars. Meanwhile, BTC is trading at 94,863.99 dollars, down 0.37% compared to the previous day based on the Binance Tether (USDT) market as of 5:01:57.
According to a report by the Bitcoin research team on the 4th (local time), "Bitcoin (BTC) needs new capital inflow to overcome the 10,000 dollar mark, which requires long-term holders to sell." Furthermore, it was stated that "if the upward trend of Bitcoin (BTC) is to continue, the supply and demand between short-term and long-term holders must balance." It was analyzed that "currently, the supply of short-term holders is around 3.28 million BTC, which is close to the cycle peak." Additionally, "this is used as an indicator to judge the peak of the bull market. On one hand, long-term holders are coming out to realize profits, and they are putting pressure on the upward momentum of Bitcoin," explaining that "if this trend continues for more than two weeks and no new demand emerges to absorb it, the price of BTC could fall." Meanwhile, BTC was traded at 9,530.89 dollars, down 0.63% compared to the previous day, based on the Binance Tether (USDT) market at 01:12 on the 5th.
According to a report from Watchguru on the 4th (local time), Ken Griffin, the CEO of Citadel, the world's largest hedge fund, expressed regret for not purchasing virtual assets (cryptocurrencies) years ago.