FameEX Morning Crypto News Recap | November 11, 2024

Bitcoin Bulls Capitalize on Weekend Liquidity to Boost Market Upward

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

BlackRock's Bitcoin ETF Surpasses Gold ETF in Asset Value

As of November 10, BlackRock’s Bitcoin ETF has surpassed its gold ETF in asset value. Within just 10 months, the Bitcoin ETF has accumulated approximately $33.2 billion, reflecting growing investor interest in Bitcoin compared to traditional assets like gold. This shift signals Bitcoin's increasing role as a mainstream investment option.

MicroStrategy's Bitcoin Holdings Surpass $10 Billion in Unrealized Gains

MicroStrategy’s Bitcoin holdings have surpassed $10 billion in unrealized profits, with Bitcoin reaching $79,000. The company holds 252,220 BTC, having spent around $9.9 billion, with an average purchase price of $39,266 per coin. This price surge has substantially increased the value of MicroStrategy’s Bitcoin portfolio.

Trump's Win May Speed Up M&A Deals in the Cryptocurrency Industry

Several M&A consultants and venture capitalists expect Trump’s victory to result in the removal of SEC Chair Gary Gensler, creating a more crypto-friendly regulatory environment. As a consequence, they predict a surge in cryptocurrency mergers and acquisitions in 2025, with more active deals under the new administration.

Standard Chartered Predicts Republican Policies Could Drive Crypto Market to $10 Trillion

With Trump's victory and Republicans controlling the Senate, the crypto market surged to $2.84 trillion. Standard Chartered predicts that Republican policies could propel the market to $10 trillion by 2026, signaling significant potential growth under a Republican-led government.

Tether Mints $4 Billion in USDT Within Three Days

According to Onchain Lens data, Tether has issued a total of 4 billion USDT over the past three days.

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