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Share link:In this post: Old and new miners sold BTC at above $87,000, causing the highest inflow to exchanges since March 2020. Miners are taking profits to offset higher mining costs. Whales are also selling BTC for profit, while retail still looks bullish.
GOAT’s bullish trend continues, but technical indicators warn of a potential correction. Will support levels hold, or is a drop imminent?
This past week, Ethereum ETFs recorded over $1.63 billion of trading volume, up over 44% from the previous week.The following is an excerpt from The Block’s Data and Insights newsletter.
Quick Take A new staff advisory from the CFTC represents another step towards options trading going live on U.S.-based spot Bitcoin ETFs, according to analysts.
Quick Take A Polymarket whale lost big betting on Mike Tyson to win his boxing bout against Jake Paul, who secured a unanimous decision victory after eight rounds. The whale lost $3.6 million — a hefty sum, but still less than a third of their $11 million winnings from betting on Trump to win the Presidential election.
- 11:16Bitget has launched the U-denominated 1MCHEEMS perpetual contract, with a leverage range of 1-20 timesAccording to the official announcement, Bitget has announced that it has launched a U-denominated 1MCHEEMS perpetual contract, with a maximum leverage of 20 times. Contract strategy trading will also be opened simultaneously.
- 11:03Analyst: Bitcoin encounters a $100,000 resistance, market focus shifts to Ethereum and other altcoinsAccording to the latest report released by QCP, the crypto market fell yesterday, with over 100 million USD worth of BTC and ETH positions being liquidated on major exchanges. However, both are still stably operating above key support levels of 95,000 USD and 3,200 USD respectively. Despite a pullback over the weekend, forward volatility remains high. The market expects BTC to possibly maintain range-bound fluctuations before December while short-term focus shifts towards ETH. The risk reversal indicator for ETH shows a higher demand for short-term bullish options whereas demand for bullish BTC options is concentrated after December 27th, 2024. This could potentially be related to Trump's supportive policies towards cryptocurrencies which are expected to take effect next year. Recently, BTC's market share has dropped from 62% to 59%, reflecting a possible trend of funds gradually shifting from BTC towards ETH and other altcoins. In addition, Michael Saylor hinted today at possibly increasing his holdings in BTC. Market attention is focused on whether MicroStrategy's new round of purchases will push BTC past the $100K mark; if achieved this could further increase Bitcoin’s value while impacting altcoins in the short term.
- 11:00ETH breaks through 3500 US dollarsThe market shows that ETH has broken through $3500, currently quoted at $3499, with a 24-hour increase of 3.7%. The market fluctuates greatly, please manage your risk well.
