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CryptoQuant’s analysis suggests that BTC could be far from a new bull market because the cryptocurrency’s dominance is not decreasing, but rising.
Quick Take Investment firm 21Shares filed an S-1 registration statement with the U.S. Securities and Exchange Commission on Friday. Firms have been vying for different crypto ETFs over the past year after the SEC approved crypto ETFs for the first time earlier this year.
Eastern Europe receives $499B in crypto, driven by institutional and DeFi growth. Russia’s crypto inflows grow as sanctions boost use of domestic and no-KYC exchanges. Ukraine aligns with the EU’s MiCA regulations, aiming for regulated crypto adoption and investment.
- 08:25Hyperliquid: A point penalty will be imposed on over 27,000 witch addressesThe decentralized derivatives trading platform Hyperliquid stated on the X platform that investigations show approximately 100 individuals manipulated over 27,000 addresses, attempting to gain disproportionately more points through large-scale and systematic non-organic behavior. The points of these addresses will be multiplied by a factor of 2% or 20% according to the scale of sybil activity for point penalties. Affected addresses will display a message on the points page: 'Sybil behavior detected'. The end result is that real users will receive a larger proportion of points. In addition, activities in May distributed 8 million points, and activities in October and early November distributed 8.4 million points. In total, the final number of points is 57.9 million."
- 08:24Analysis: US October PCE is expected to rebound, but the anti-inflation trend remains unchangedInflation pressure has significantly decreased since reaching its peak two years ago, but the pace of improvement has slowed in recent months. The PCE index is the Federal Reserve's preferred indicator for measuring price pressures. The Fed's goal is to keep the PCE inflation rate at around 2% over the long term to maintain a healthy economic state. According to economists' forecasts, the PCE price index will rise by 0.20% month-on-month and 2.30% year-on-year in October. Excluding volatile food and energy prices, core PCE inflation is expected to rise by 0.30% month-on-month and 2.80% year-on-year. Although economists expect both indicators to increase compared with September, analysts believe that price pressures are still improving. Russell Price, chief economist at Ameriprise Financial, pointed out that higher readings in October "will not disrupt the long-term trend." It's worth noting that due to daylight saving time and Thanksgiving holiday effects, this round of PCE data will be released on Wednesday at 21:30 Singapore time instead of usual Thursday at 20:00.
- 08:09Matrixport: BTC is experiencing a correction, the $89,000-$90,000 range is a key support levelChainCatcher reports that Matrixport released a chart today stating that Bitcoin funding rates continue to rise. Although BTC is undergoing a typical market adjustment, leveraged traders remain confident about the future. From a technical perspective, the price may pull back to the $89,000-$90,000 range. This key support level is expected to stabilize the broader market. With Thanksgiving approaching, Bitcoin's astonishing increase of up to +119% so far this year will inevitably become a hot topic at holiday dinner tables. What's more noteworthy is that Bitcoin is expected to once again be crowned as the best performing asset of the year. The highlight of this round of increases lies in traditional finance (TradFi) investors increasing their positions through ETFs. Looking forward to 2025, more institutional funds are likely to pour in further consolidating Bitcoin's strong upward momentum and reinforcing its long-term bullish outlook.