FameEX Morning Crypto News Recap | November 11, 2024

Bitcoin Bulls Leverage Weekend Liquidity to Drive Market Upward

Bitcoin bulls are using thin weekend liquidity to push prices higher, a common trend during price rallies. Keith Allen, co-founder of Material Indicators, noted that "some pullbacks" are essential for a sustainable rise. He emphasized that weekends are prime for whale activity and that weekly and monthly Bitcoin closing prices are key indicators in this price discovery phase.

BlackRock's Bitcoin ETF Asset Value Exceeds That of Gold ETF

As of November 10, BlackRock's Bitcoin ETF has surpassed its gold ETF in asset value. In just 10 months, the Bitcoin ETF has accumulated around $33.2 billion in assets, marking a significant milestone in the growing interest and investment in Bitcoin over traditional assets like gold.

MicroStrategy's Bitcoin Holdings Reach Over $10 Billion in Unrealized Profit

MicroStrategy’s Bitcoin holdings have surpassed $10 billion in unrealized profits as Bitcoin price hit $79,000. The company now owns 252,220 BTC, with a total purchase cost of around $9.9 billion and an average purchase price of $39,266 per coin. The rise in Bitcoin’s value has significantly boosted MicroStrategy’s holdings.

Trump’s Victory Could Accelerate M&A Activity in the Cryptocurrency Sector

Several M&A consultants and venture capitalists anticipate that Trump’s victory will lead to the firing of SEC Chair Gary Gensler, which could create a more favorable regulatory environment for cryptocurrencies. As a result, they expect an acceleration of cryptocurrency M&A activity in 2025, with more deals becoming active under the new administration.

Standard Chartered Forecasts Republican Policies Could Propel Crypto Market to $10 Trillion

With Trump’s victory and Republicans controlling the Senate, the total crypto market value surged to $2.84 trillion. Standard Chartered forecasts that Republican policies could drive the market to $10 trillion by 2026, highlighting potential growth under a Republican-led government.

Tether Issues $4 Billion in USDT Over Three Days

Tether has issued 4 billion USDT in the past three days, according to Onchain Lens monitoring data.

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