JH Kim

The entire Synoptic platform reported on the 2nd (local time) through X (formerly Twitter) that "approximately 19,520,000 dollars worth of 10,979.99 BTC (Bitcoin) were moved from the US Department of Justice's seizure address (starting with bc1qn)." The address to which this amount was transferred starts with bc1q0. Meanwhile, BTC is trading at 9,5916.95 dollars, down 1.19% compared to the previous day's USDT market standard at 02:18 on the 3rd.

According to a report by JP Morgan on the 2nd (local time) from the cryptocurrency media Coindesk, "Bitcoin (BTC) mining efficiency in November increased by 24% compared to the previous month, averaging 52,000 EH/s." The report stated, "After the U.S. presidential election on November 5th (local time), the transaction fee of the Bitcoin network increased significantly," and explained, "Such an increase in fees has somewhat offset the price when determining mining efficiency." It added, "The Bitcoin network hash rate shows a lower level compared to the price increase." According to the report, the average Bitcoin network hash rate in November was 731 EH/s, a 4% increase compared to the previous month, while mining difficulty increased by 7% compared to the previous month. During the same period, the total market capitalization of 14 Bitcoin mining companies recorded a rapid increase of 52%, reaching 36.2 billion dollars. Meanwhile, BTC was traded at 9,5916.95 dollars, a 1.19% decrease compared to the previous day, based on the Binance Tether (USDT) market.

Bitcoin (BTC) temporarily rebounded to 97,000 dollars. On one side, BTC is trading at 96,866.67 dollars, down 0.18% compared to the previous day on the Binance Tether (USDT) market as of 3:40 AM.

Analyst Ali Martinez reported on the 2nd (local time) via X (formerly Twitter) that "whale addresses holding more than 1 million to 10 million Ripple (XRP) sold 158 million XRP (worth 358 million dollars) over the past weekend." Meanwhile, XRP was traded at 2.6858 dollars, up 41.41% compared to the previous day, against the Binance Tether (USDT) market at 00:34 on the 3rd.

On the 29th (local time), US media Fox Business reported that "the New York Department of Financial Services (NYDFS) is expected to approve a new stablecoin issued by Ripple (XRP) soon, with an announcement expected in a few weeks." The media stated, "With NYDFS's approval, Ripple can issue a regulated stablecoin, providing a stable solution for XRP," adding, "This means Ripple can legally service its own stablecoin RLUSD, positioning itself as a major player in the digital financial market with New York's regulatory application." On the other hand, the media reported that Ripple and NYDFS requested a comment but did not receive a response. Earlier, Ripple announced that it had completed preparations for the launch of its own stablecoin RLUSD in June.

According to the professional media Cointelegraph on the 29th (local time), the price of Bitcoin (BTC) futures within the US Chicago Mercantile Exchange (CME) first returned to $10,000 on the 22nd and then again reached $10,000 on this day. On this day, the standard CME Bitcoin futures trading price recorded a high of $10,200. On the other hand, according to Gobayashi Letter, as of the 29th, the number of CME Bitcoin futures open contracts was 4,000, with a trading volume of $12.3 billion.

Bitcoin (BTC) temporarily rebounded to 97,000 dollars. On the other hand, BTC is trading at 96,968.02 dollars, up 1.94%% compared to the previous day based on the Binance Tether (USDT) market at 02:39 on the 30th.

Nate Geraci, CEO of the U.S. ETF specialist company ETF Store, stated in an interview with The Block on the 29th (local time) that "under the new Trump administration, everything is possible," and that "the launch of a Dogecoin (DOGE) spot market index fund (ETF) might be possible." He added, "The hopeful point is that the new administration will move quickly to establish clear standards for determining the legitimacy of virtual assets (securities)," and "if the system is established, the path to approval for a virtual asset spot ETF will become much clearer."

Samson Mow, former Chief Strategy Officer (CSO) of Blockstream, stated in an interview with Cointelegraph on the 29th (local time) that "if Bitcoin (BTC) surpasses $10,000, the growth potential could change dramatically," adding that "daily fluctuations could expand from thousands to tens of thousands of dollars, and then the 'Omega Candle' will start to appear." The 'Omega Candle' refers to a term used to describe a bullish candle that records an increase of over $10,000 in a single chart. He further mentioned, "If the BTC price rises to $10,000, there will be no need to convert back to fiat currencies like the dollar or yen," emphasizing that "everyone will only want Bitcoin."

According to the media outlet DoubleBlock on the 29th (local time), Andre Dragosch, a European research officer at Bitwise, a cryptocurrency management company, stated in an interview with the media that "the price of Bitcoin (BTC) has recently continued its rapid rise, approaching the $10,000 mark, but the strength of the US dollar could hinder Bitcoin's ascent." He further analyzed that "historically, Bitcoin prices tend to decline during periods of dollar strength," adding that "the rise in dollar value could also signal a global liquidity contraction. This could negatively impact the Bitcoin market in the short term." Naga added that "according to Bitwise's volume analysis model, the current dollar value is most closely correlated with the Bitcoin price," and "the growth rate of communication policies and the global economy has also relatively weakened its influence on Bitcoin prices."

On the 29th (local time), the U.S. economic media CNBC reported that "Bitcoin (BTC) investors should be cautious of asset scams (cryptocurrency fraud) during a bull market." Eva Velasquez, CEO of the U.S. non-profit organization 'Identity Theft Resource Center (ITRC)', pointed out that "in the Bitcoin bull market, FOMO (Fear of Missing Out) can arise, and scammers exploit this to create confusion and trick others into losing money." She further explained, "Particular attention should be paid to investment scams that impersonate famous figures like Elon Musk or Mark Zuckerberg, and scams that lure victims into investing after gaining their trust, such as the 'Pig Butchering Scam'." Meanwhile, the U.S. Federal Bureau of Investigation (FBI) announced that last year, they received over 69,000 reports related to asset scams, with estimated damages amounting to $5.6 billion.

Bitstamp, a European virtual asset trading platform listed on Robinhood, announced on the 29th (local time) via official X (formerly Twitter) that it supports trading of Pepe (PEPE) and Solana (SOL) for US users. Specifically, the newly listed trading pairs on Bitstamp US are PEPE/USD, PEPE/EUR, SOL/USD, SOL/EUR.

According to the cryptocurrency media Cryptobasic on the 29th (local time), American venture capitalist Tim Draper recently stated in an interview that "Bitcoin will rise 30 times more than the current price and will become the currency of the future." He said, "Bitcoin is still in its early stages, and the price is still low," adding that "the total market value of Bitcoin is not yet reaching 2 trillion dollars, and it is only a small part of the global economy dominated by legal currency." He further explained, "If digital assets become mainstream assets, there is room for price increase," and predicted that "BTC could be traded at 2.9 million dollars per unit, and it will be used in places where holders actually buy groceries and pay taxes." He emphasized that "especially with the election of Donald Trump and the new administration of Elon Musk, the role of blockchain technology will accelerate its mainstream adoption while invigorating the U.S. economy."

Bitcoin (BTC) momentarily recovered to 98,000 dollars. Meanwhile, BTC is trading at 98,031.99 dollars, up 2.80%% compared to the previous day based on the Tether (USDT) market as of 00:05 on the 30th.

According to CoinDesk, a leading media outlet in the cryptocurrency sector, on the 28th (local time), David Puell, an on-chain analyst at Ark Invest, stated that "BTC is in a state of HODLing ahead of a potential all-time high," and that "the strong cycle will continue until a clear reversal signal emerges." He further analyzed that "currently, the mid-point of the strong market is around, and BTC is expected to stabilize between 12,600 to 13,400 dollars," adding that "if the upward trend accelerates, it could go beyond that. It is expected to reach 10,400 to 12,400 dollars by the end of the year." He also emphasized the need to monitor the direction of communication policies and the U.S. Securities and Exchange Commission (SEC).

On the 28th (local time), according to the media outlet Doublelog, the American Wall Street investment bank Bonstein stated, "US tech giants have ample liquidity to invest in Bitcoin (BTC), but the actual possibility of utilizing this liquidity for Bitcoin purchases is not high," analyzing that "in the case of these companies, the weight of sales that the main business occupies is much larger." Furthermore, "from the perspective of large companies, the core business unit continuously requires funds for profit creation," and "assets like Bitcoin are likely to be acquired as supplementary," it reported. On the other hand, "although the core business has weakened, small and medium-sized enterprises with liquidity can follow MicroStrategy's (MSTR) BTC acquisition strategy," it analyzed. Additionally, "these companies are studying and responding to the recent four-year performance and market volatility in the virtual asset market," it explained.

On the 28th (local time), the professional media outlet Cointelegraph reported, citing TheMinerMag, that 16 Bitcoin (BTC) mining equipment companies have collectively supported a total of $3.6 billion in major asset (PP&E) upgrades, including mining equipment and facilities, over the past two years. In particular, the third quarter of this year marked the period with the largest scale of PP&E support since the first quarter of 2022. Additionally, the main support items for the mining industry were confirmed to be mining equipment upgrades. The report stated, "Typically, mining equipment requires upgrades every 3-5 years to maintain performance."

On the 28th (local time), crypto analyst ShayanBTC stated, "The recent rally of Ethereum (ETH) has reignited investor enthusiasm," adding, "The price of ETH is turning around major resistance levels, and there is an expectation that it could test previous highs by the end of the year." Furthermore, "The mysterious gift market funding ratio for ETH has been steadily rising over the past few weeks," indicating that "this reflects a strong sentiment among traders." However, it was noted that "although ETH has recorded previous highs, it is still at a relatively low level," explaining that "the market is gaining momentum, but it is not yet in an overheated state." Additionally, "Looking at past cases, when the funding ratio rises sharply, adjustments or large-scale corrections often follow," but "currently, the funding ratio does not seem to be at a level that would bring about such a storm."

On the 28th (local time), the professional media Doublelog reported that after Donald Trump's victory in the U.S. presidential election, the size of Bitcoin (BTC) futures open interest (OI) increased significantly. BTC futures open interest was at $39 billion five days ago (local time), but has now surged to $60.9 billion. Bitfinex Research stated, "After Trump's victory, traders are optimistic about the rise in Bitcoin prices, and this sentiment is seen as a factor influencing the increase in futures open interest," adding, "The size of the open interest decreased sharply on the 22nd, and the price retest near $93,000 was a normal correction process."

The blockchain security firm SlowMist announced on the 28th (local time) via X (formerly Twitter) that "currently, the DEX platform DEXX is acquiring a list of attack addresses for the purpose of asset freezing (blacklist) for bulk coin transactions." They reported that "8,612 have been temporarily confirmed on the Solana (SOL) blockchain." Furthermore, they explained that "the addresses in question have been verified through DEXX stakeholders and victims, but the collection is not yet complete," and that "the final list of addresses is expected to be released within a few weeks."

On the 28th (local time), Coinbase, a U.S. virtual asset (cryptocurrency) exchange, stated through X (formerly Twitter) that "some claims that Coinbase does not support Ethereum (ETH) scalability are completely false," adding, "Coinbase is focusing on the role of virtual assets in the economy and supports both Ethereum Layer 1 and Layer 2." Previously, Coinbase announced that it does not support the migration of Layer 2 from the Layer 1 blockchain. This was criticized by the virtual asset community. Coinbase explained regarding this, "Although this migration is not supported, we plan to reassess Layer 2 after the migration is completed."

Bitcoin (BTC) temporarily rebounded to 95,000 dollars. Meanwhile, BTC is trading at 94,985.93 dollars, down 0.79%% compared to the previous day based on the Binance Tether (USDT) market as of 00:52 on the 29th.