FameEX Morning Crypto News Recap | November 29, 2024

Bitcoin Dominance Set to Stay Robust in the Near Term

CryptoQuant CEO Ki Young Ju stated that Bitcoin dominance is expected to remain strong in the short term. While Bitcoin’s market value surged by 37%, large-cap stocks increased by 16%, and small and mid-cap stocks gained just 10%, with the exception of April’s meme coin season when smaller cryptocurrencies outperformed Bitcoin.

Whales Accumulate More Than 10,000 Bitcoins During Recent Price Correction

On November 28, on-chain analyst Ali reported that during Bitcoin's price correction from $99,000 to $90,000, large holders (whales) took advantage of the dip to acquire over 10,000 Bitcoins.

MicroStrategy Founder Sends Thanks to Satoshi Nakamoto

Michael Saylor, founder of MicroStrategy, expressed his gratitude to Satoshi Nakamoto on Thanksgiving with a simple message on X: "Thank You, Satoshi."

BlackRock Bitcoin ETF Holdings Exceed $48 Billion

As of November 27, BlackRock’s iShares Bitcoin Trust ETF holds 495,443.65 BTC, valued at $48.04 billion. This update reflects a significant increase in the ETF’s Bitcoin holdings, further solidifying its position in the cryptocurrency market.

JPMorgan Chase Analysts Believe Trump Administration May Provide Clear Regulatory Framework for Cryptocurrencies

JPMorgan Chase's cryptocurrency team suggested that a clearer regulatory framework from the Trump administration could promote the development and wider adoption of the cryptocurrency market, driving its growth and popularity.

Altcoins Need New Capital to Achieve All-Time Highs

CryptoQuant CEO Ki Young Ju emphasized that altcoins require new capital from retail traders to trigger a growth phase. He stressed the need for altcoins to create independent strategies to attract investment, while remaining optimistic about their future prospects.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.​