News

According to Cointelegraph: On U.S. election day, BlackRock's iShares Bitcoin Trust (IBIT) experienced a rare net outflow of $44.2 million, its sixth since the ETF launched in January. This outflow reflects a cautious stance from institutional investors amid election uncertainties, as IBIT joined other major U.S. Bitcoin ETFs in recording withdrawals. In total, the 11 U.S. spot Bitcoin ETFs saw outflows of $116.8 million on November 5, with the largest withdrawals coming from Fidelity’s Wise Origin Bitcoin Fund, which lost $68.2 million.Bitcoin ETF Outflows Despite Bullish Market SurgeDespite the outflows, spot crypto markets surged as election results came in, pushing Bitcoin to a new all-time high of $75,000. Henrik Andersson, chief investment officer of Apollo Crypto, attributed Bitcoin’s price surge to strong election-driven demand. Citing an 80-90% probability of Trump’s victory, Andersson forecasted that Bitcoin could reach $100,000 by year-end if Trump indeed wins.Election’s Potential Impact on ETF and Crypto RegulationWhile ETF Store President Nate Geraci noted that election-driven market effects are often overstated, he emphasized that the regulatory landscape, particularly SEC leadership, will influence the pace of crypto ETF innovation. Geraci highlighted the importance of bipartisan efforts in developing a comprehensive crypto framework, stressing that the election outcome could accelerate or delay ETF regulatory progress.Bitcoin’s Election-Driven Trajectory and Future Price PredictionsBitcoin has been dubbed the "election trade" by traders, with its recent rally reflecting sentiment around the U.S. election. Analysts remain optimistic, with many predicting continued gains as political and regulatory developments unfold. As Bitcoin hovers near record highs, the crypto market is closely watching for potential shifts that could drive BTC toward the anticipated $100,000 mark in the coming months. 

According to Cointelegraph: Bitcoin surged to a new record of $75,397 on Binance following the announcement of Donald Trump’s victory in the 2024 U.S. presidential election. This election-driven momentum has pushed BTC into uncharted territory, with traders and analysts closely monitoring critical support levels to assess the strength of the bull market. Pseudonymous analyst Checkmate highlighted the importance of maintaining key bull market trend lines, particularly the 200-day simple moving average (SMA) at $63,546 and the short-term holder cost basis (STH-CB) at $64,337.Order Book Data Shows Critical Levels at $75,500 and BelowAccording to CoinGlass, Bitcoin faces significant selling pressure at $75,500, while buyer interest is clustered around $73,000, extending down to $70,000. Keith Alan, co-founder of Material Indicators, cautioned that the heightened market excitement could lead to speculative activity as traders respond to Bitcoin’s recent surge.Analysts Warn of Potential “Dump and Pump” Post-ElectionDespite Trump’s win fueling Bitcoin’s price gains, some analysts remain cautious about post-election volatility. Lucky Chart Ape on X suggested a possible “dump and pump” scenario, where BTC could briefly dip to the mid-$60,000 range before recovering to around $70,000. Material Indicators noted that the volatility seen post-election hints at market instability, as political narratives influence BTC’s movement.Bitcoin Bulls Aim to Sustain Key Support Amid Political ImpactWith Bitcoin’s trajectory tied closely to political developments, bulls are focused on holding crucial support levels to sustain momentum. The 200-day SMA and other trend lines serve as benchmarks, while traders anticipate continued price fluctuation as BTC approaches the next resistance zones. Trump’s victory may signal further price gains for Bitcoin, reflecting broader market optimism around his pro-crypto stance.

According to U.Today, a recent Bitcoin (BTC) price prediction has raised concerns within the crypto community due to the appearance of a "shooting star" candle on Bitcoin's weekly chart. This pattern, characterized by a large upper wick, suggests a potential reversal in Bitcoin's price direction as it hovers near its historical high. The "shooting star" formation typically emerges when prices encounter resistance levels, indicating a slowdown in buying momentum and an increase in selling pressure. In technical analysis, a shooting star pattern occurs when an asset's price opens, surges sharply, and then retraces to close near its opening level, leaving a prominent wick at the top. This pattern often signals that buyers are unable to sustain upward momentum, facing resistance that could lead to a downward price movement. The latest shooting star pattern appeared last week as Bitcoin attempted to surpass its March high but fell short by less than one percent, raising questions about the strength of the current rally. Renowned trader and Bitcoin enthusiast Peter Brandt has also highlighted this cautious outlook by sharing the prediction on his social media. Brandt previously stated that for a genuine Bitcoin breakout to occur, the price would need to close above $76,000 per BTC on a daily chart and be confirmed with a weekly close on Sunday at midnight. The increase in bearish signals around previous high points suggests that Bitcoin may require further consolidation before any sustainable rally can take place.

According to U.Today, Michael Saylor, cofounder and former CEO of MicroStrategy, recently took to social media platform X, formerly known as Twitter, to share a Bitcoin-themed message with his followers. In his tweet, Saylor posted an AI-generated image of himself on the steps of the U.S. Capitol, accompanied by the caption, “Make Washington the #Bitcoin Capitol.” This message coincides with the official election day in the United States, drawing attention from both American cryptocurrency enthusiasts and the global community eager to see the election outcomes. In the past 24 hours, Bitcoin, the leading cryptocurrency, has experienced a 2.88% price increase, climbing from approximately $66,990 to $68,790. Despite this recent uptick, Bitcoin has struggled to surpass its current price level after dropping from $71,330 last Friday. Since then, Bitcoin has decreased by 3.5% and is striving to reclaim the $70,000 mark. Over the weekend, Saylor shared insights into MicroStrategy's Bitcoin strategy, which has significantly contributed to the company's success. Since adopting a Bitcoin-focused strategy in August 2020, MicroStrategy has seen its stock price soar by over 1,540%, far outpacing the S&P 500 index's 111% increase during the same period. Saylor attributed the company's success to its exclusive relationship with Bitcoin, emphasizing principles such as buying and holding Bitcoin indefinitely, structuring the company to outperform Bitcoin through intelligent leverage, and issuing innovative fixed-income securities backed by Bitcoin. Last week, Saylor made headlines by announcing plans to raise $42 billion over the next three years to purchase additional Bitcoin for MicroStrategy. This ambitious plan underscores Saylor's unwavering commitment to Bitcoin and his belief in its potential to drive the company's growth. As the cryptocurrency market continues to evolve, Saylor's strategic moves and public endorsements of Bitcoin remain closely watched by investors and industry observers alike.

According to PANews, U.S. House Speaker Mike Johnson has expressed confidence that the Republican Party will maintain its majority in the House of Representatives. This statement comes amid ongoing political discussions and preparations for upcoming elections. Johnson's assertion reflects the Republican Party's strategic efforts to consolidate its position and influence within the legislative branch. The party has been actively engaging in various initiatives to strengthen its foothold and address key issues that resonate with its voter base. As the political landscape continues to evolve, the Republicans are focusing on policies and campaigns that they believe will secure their majority status. The Speaker's comments underscore the importance of party unity and effective leadership in navigating the complexities of the current political environment. With the next election cycle approaching, both major parties are intensifying their efforts to appeal to voters and secure their respective positions in Congress. Johnson's confidence highlights the Republican Party's commitment to maintaining its legislative power and advancing its agenda in the House.

Donald Trump, 78, has been projected to win the 2024 U.S. presidential election, making a remarkable political comeback as the 47th president. Early Wednesday, projections showed Trump securing a commanding Electoral College lead over Vice President Kamala Harris, flipping key battleground states like Georgia, Pennsylvania, and Wisconsin. His victory is attributed to strong support from rural and working-class voters, along with notable gains among ethnic minority groups.The night also saw a big win for Republicans in Congress, with the Senate projected to return to GOP control. However, the fate of the House of Representatives remains too close to call. Thousands of Harris supporters at Howard University watched the outcome unfold in disappointment, with campaign co-chair Cedric Richmond announcing that Harris would not be making an appearance, leaving supporters awaiting further updates.

According to PANews, hardware wallets are physical devices designed for storing cryptocurrencies, providing a secure means of safeguarding digital assets. These wallets store private keys offline, ensuring users maintain full control over their cryptocurrencies and reducing the risk of online hacking. Despite their security features, many investors, particularly beginners, fall victim to scams that result in the loss of assets stored in hardware wallets. Two prevalent methods of theft include fraudulent instruction manuals and modified hardware wallet scams. Fraudulent instruction manual scams exploit users' lack of understanding of hardware wallets. Scammers replace the genuine manual with a fake one, misleading victims into transferring funds to phishing addresses. Victims often purchase hardware wallets from third-party platforms, follow the fake manual's instructions to open the wallet using a "default PIN," and back up the "seed phrase" printed in the manual. Consequently, they deposit significant funds into the wallet, only to have them stolen. The scam does not involve hacking the wallet's hardware. Instead, scammers pre-activate the wallet, obtain the seed phrase, and repackage it with a fake manual. They then sell these pre-activated wallets through unofficial channels. Once victims transfer their crypto assets to the wallet, the standard fake wallet theft process begins. In Chinese-speaking regions, similar risks exist. Notably, hardware wallet manufacturer imkey has warned users about unofficial stores selling "activated" wallets with altered manuals, tricking users into depositing funds into wallets with addresses created by malicious sellers. This highlights the importance of identifying official online stores as much as official websites. Another scam involves modified hardware wallets. A Ledger user received an unsolicited package containing a new Ledger X wallet and a letter claiming it was sent due to a data breach at Ledger. The letter instructed the user to replace their device for security reasons. However, Ledger CEO Pascal Gauthier clarified that the company does not compensate for personal data leaks. The user identified the package as a scam, noting tampering signs inside the wallet's plastic casing. Additionally, Kaspersky's security team reported a case involving a counterfeit Trezor hardware wallet. A victim purchased a Trezor Model T from an unofficial source, only to find the device's firmware had been altered by attackers, granting them access to the user's crypto assets. In conclusion, supply chain attacks on hardware wallets are widespread, and both investors and manufacturers should remain vigilant. To mitigate theft risks, users should purchase hardware devices from official channels, ensure wallets are in an unactivated state, and personally generate wallet addresses. If a device appears activated or includes a "default password" or "default address," users should cease using it and report it to the wallet manufacturer. Proper usage can effectively prevent theft.

On Nov 06, 2024, 06:05 AM(UTC). According to Binance Market Data, Bitcoin has crossed the 75,000 USDT benchmark and is now trading at 75,000 USDT, with a narrowed 9.22% increase in 24 hours.

According to Odaily, the Governor of the Reserve Bank of India, Shaktikanta Das, has stated that the central bank is not in a rush to introduce a central bank digital currency (CBDC). Currently, there is no specific timeline for its release. Das emphasized that the CBDC project is still in the implementation phase. Interest in central bank digital currencies has been growing significantly, particularly in the area of cross-border payments. This increased attention reflects a global trend where many countries are exploring the potential benefits and challenges of digital currencies. However, the Reserve Bank of India is taking a measured approach, ensuring that all aspects of the digital currency are thoroughly evaluated before any official launch. The cautious stance of the Indian central bank highlights the complexities involved in rolling out a CBDC. It underscores the importance of addressing various technical, regulatory, and security issues to ensure the successful integration of digital currency into the existing financial system. As the project progresses, the Reserve Bank of India will likely continue to assess the evolving landscape of digital currencies and their implications for the Indian economy.

According to Odaily, the latest updates from the U.S. House of Representatives elections reveal that the Republican Party has secured 178 seats, while the Democratic Party has obtained 146 seats. Both parties are still striving to reach the 218-seat threshold required to gain control of the House. The current standings indicate a competitive race as both parties aim to secure the majority needed for legislative influence. The Republicans, with their current lead, are inching closer to the majority, but the Democrats remain in contention as they work to close the gap. The outcome of this election will significantly impact the legislative agenda and political landscape in the United States. As the counting continues, both parties are focusing on key districts that could determine the final balance of power. The results of this election will play a crucial role in shaping the future policies and governance of the country, making every remaining seat critical in the race to 218.

According to Odaily, the United States Department of Justice (DOJ) announced on Monday that a federal judge in Wichita, Kansas, has ordered the return of millions of dollars seized by the government to investors affected by the collapse of Heartland Tri-State Bank (HTSB). The DOJ explained that following a $47.1 million cryptocurrency scheme that led to the bank's failure, the judge issued the order during a restitution hearing to allocate the seized funds to those who suffered financial losses. This development follows earlier reports from August, where the former CEO of HTSB in Kansas was sentenced to over 24 years in prison for embezzling $47.1 million, which contributed to the bank's downfall through a cryptocurrency scam. The restitution order aims to provide some financial relief to the investors who were impacted by the fraudulent activities that led to the bank's closure. The case highlights the significant financial repercussions of cryptocurrency-related fraud and the legal efforts to address the losses incurred by investors.

According to BlockBeats, on November 6, the Associated Press projected that Harris has won one electoral vote in a crucial district in Nebraska. This development marks a significant moment in the electoral process, as Nebraska is one of the few states that splits its electoral votes by congressional district, rather than awarding them all to the statewide winner. The victory in this key district highlights the strategic importance of targeting specific areas to secure electoral votes, which can be pivotal in closely contested elections. Nebraska's unique approach to allocating electoral votes allows candidates to focus on individual districts, potentially influencing the overall outcome of the election. This win for Harris underscores the importance of tailored campaign strategies in states with such electoral systems. As the election progresses, the focus on swing districts like this one in Nebraska will likely intensify, with candidates aiming to maximize their electoral vote count by appealing to diverse voter bases within these areas. The outcome in Nebraska serves as a reminder of the complexities and nuances of the U.S. electoral system, where every vote and district can play a crucial role in determining the final result.

According to Odaily, the Nostr network's column 'Bitcoin Commentary' recently published an article by the Dora research team titled 'Free Speech and Crypto Under a New Administration.' This piece delves into the interaction between the cryptocurrency community and the concept of the fifth estate in the upcoming phase. The article provides an in-depth analysis of how the evolving political landscape might influence the dynamics of free speech and cryptocurrency. It examines the potential challenges and opportunities that could arise for the crypto community as it navigates through changes in governance. The discussion highlights the importance of understanding the role of the fifth estate, which refers to the influence of non-traditional media and digital platforms in shaping public discourse and policy. As the world anticipates shifts in political power, the article emphasizes the need for the cryptocurrency community to adapt and engage with these changes proactively. It suggests that the community should be prepared to advocate for its interests and ensure that the principles of free speech are upheld in the digital realm. The piece also explores the implications of regulatory developments and how they might impact the growth and innovation within the crypto sector. Overall, the article serves as a call to action for the cryptocurrency community to remain vigilant and informed about the political and regulatory environment. It encourages stakeholders to participate in discussions and collaborate with policymakers to foster a supportive ecosystem for digital currencies and blockchain technology. By doing so, the community can help shape a future where free speech and crypto can coexist and thrive under new administrative frameworks.

According to PANews, data from SoSoValue indicates that on November 5, Eastern Time, there were no inflows or outflows for Ethereum spot ETFs. All nine Ethereum ETFs remained unchanged. The Grayscale Ethereum Trust ETF (ETHE) reported a net outflow of $0 for the day, with a historical cumulative net outflow of $3.142 billion. Similarly, the Grayscale Ethereum Mini Trust ETF (ETH) also saw no daily outflow, with a historical net inflow totaling $271 million. As of the time of reporting, the total net asset value of Ethereum spot ETFs stands at $6.639 billion, representing 2.27% of Ethereum's total market capitalization. The historical cumulative net outflow for these ETFs has reached $555 million.

According to Odaily, the Democratic Party has successfully secured two highly contested House seats in Alabama's 2nd District and New York's 22nd District as of this evening. These districts were redrawn following the 2022 midterm elections, resulting in increased Democratic support. In Alabama, the seat was vacant, and it is anticipated that Shomari Figures, a former Department of Justice official and a Democrat, will emerge victorious. Meanwhile, in New York, Republican Representative Brandon Williams faced a challenging re-election campaign and is expected to lose to Democrat John Mannion. This shift in these key districts highlights the changing political landscape and the growing influence of the Democratic Party in areas that have been traditionally competitive.

According to TechCrunch, Apple has cautioned investors that its upcoming and future products may not achieve the same level of profitability as the iPhone. This warning was included in the company's latest annual report under the 'business risks' section, highlighting potential challenges as Apple explores new technologies such as artificial intelligence and mixed-reality headsets. Apple's report indicates that new products, services, and technologies might replace or surpass existing offerings, potentially leading to lower revenues and profit margins. This could significantly impact the company's business operations and financial health. The tech giant is actively working on integrating consumer AI features into its products to stay competitive with companies like Google and Meta. Recently, Apple introduced its initial Apple Intelligence features and has announced plans to incorporate additional features, including a ChatGPT integration, in the near future. In addition to AI advancements, Apple is also focusing on its Vision Pro headset. However, the device has experienced limited sales, which may be attributed to its high price of $3,499. As Apple continues to innovate and expand its product lineup, the company remains aware of the potential financial implications and is taking steps to address these challenges.

According to BlockBeats, on November 6, Harris secured a victory in Oregon, adding eight electoral votes to her total. This development comes as Oregon gained an additional congressional seat following the 2020 census, resulting in one more electoral vote compared to the previous presidential election. The Democratic presidential candidate has consistently won Oregon since 1988. The Associated Press declared Harris's victory at 11:23 PM Eastern Time. This win contributes to her overall electoral vote count, reinforcing her position in the ongoing presidential race.

According to PANews, the outcome of the U.S. presidential election remains uncertain as key battleground states have yet to declare a winner. Despite this, financial markets are showing significant movements, suggesting a potential victory for President Trump. The U.S. 10-year government bond yield has increased by nearly 20 basis points, while the yield on similar Australian bonds has risen by approximately 12 basis points. Additionally, the U.S. dollar has strengthened, and stock markets are generally experiencing gains. Craig Vardy, head of fixed income at BlackRock, noted that the interest rate market is undergoing a 'bear steepening,' a trend associated with expectations of a Trump victory. This market behavior reflects investor sentiment and the anticipation of potential policy directions under a continued Trump administration. As the election results continue to unfold, these financial indicators provide insight into market expectations and reactions.

On election night, Bitcoin hit an all-time high of $74,659 before briefly dipping below $74,000, fueled by increasing support for Republican candidate Donald Trump on betting platforms like Polymarket, Kalshi, and PredictIt. Although the race remains too close to call, Bitcoin’s price has been responsive to Trump’s rising odds of victory, with the cryptocurrency’s value jumping over 8% on Tuesday night as results from key states rolled in.Trump’s Pro-Crypto Stance Fuels Market OptimismTrump’s self-styled image as a “crypto president” has resonated with the cryptocurrency community, leading to heightened interest in Bitcoin and related assets. Trump has consistently portrayed himself as more crypto-friendly than both Democratic candidate Kamala Harris and President Joe Biden, promising more favorable regulatory conditions. The excitement surrounding Trump’s candidacy has also benefited his media company, Trump Media & Technology Group, which surged over 10% in after-hours trading.Broader Market Impact: Tesla and Other Trump-Aligned Stocks RiseThe pro-Trump sentiment extended to stocks associated with Trump supporters, with Tesla, led by Trump supporter Elon Musk, climbing nearly 3% in after-hours trading to $258.70. The synergy between traditional stocks and the cryptocurrency market underscores the election’s wide-reaching influence on investor sentiment.Historical Election Trends and Bitcoin’s Price MovementsBitcoin has demonstrated a history of price surges around U.S. presidential elections. BTC reached a seven-month high of $73,000 just days before Election Day, showing strong momentum as the election approached. Previous elections in 2012, 2016, and 2020 saw Bitcoin gain 87%, 44%, and 145% in the three months following Election Day, largely due to the alignment of election cycles with Bitcoin halving events and Federal Reserve policy shifts.Election Uncertainty and Potential for Continued Bitcoin VolatilityWhile Bitcoin’s price momentum appears strong, traders remain cautious, expecting continued volatility until a clear election outcome emerges. Tony Stewart of Pelion Capital noted that the Bitcoin options market shows protective positioning, as traders hedge against possible downside risks in the event of a surprise outcome.Bitcoin as a Hedge Against Economic ConcernsAmid growing fiscal concerns, including the U.S. government’s $1.8 trillion deficit, Bitcoin is increasingly viewed as a hedge against inflation and economic uncertainty. Investors consider Bitcoin a store of value, much like gold and are attracted to its potential to retain value against a backdrop of potential dollar devaluation.Election Night Sees Bitcoin and Crypto Markets SurgingThe crypto market’s performance on election night underscores the significant influence of U.S. political events on Bitcoin and broader investor sentiment. With key states yet to declare their results, Bitcoin’s price remains sensitive to shifting political dynamics, potentially paving the way for new records as 2024 progresses.Read More:Traders Adjust Federal Reserve Rate Cut Expectations Amid U.S. Election Results Solana Rally Gains Momentum as Traders Eye $200 Target Amid Bitcoin SurgeEther Traders Brace for Downside as ETH/BTC Hits Multi-Year Lows

According to PANews, as of November 6, voting stations across several western states in the United States have closed, marking the commencement of the vote counting process. This development occurred at 11 p.m. local time on November 5, which corresponds to 12 p.m. on November 6 in UTC+8. The closure of these polling stations signifies the end of voting in most states, with the exception of Alaska and Hawaii, where voting is still ongoing. Additionally, polling stations in Washington D.C. have also closed, aligning with the majority of the country in transitioning to the counting phase.The closure of polling stations is a significant step in the electoral process, as it allows for the tallying of votes to determine the outcomes of various elections. The process is closely monitored to ensure accuracy and transparency, with results expected to be announced in the coming days. The closure of polling stations and the start of vote counting are crucial in shaping the political landscape, as they determine the elected representatives and the direction of future policies. As the counting progresses, attention will be focused on key races and the potential impact on both state and national levels.