Bitcoin Rally Causes Massive Surge in Self-Custody Wallet Demand

Trezor reported record-breaking sales due to a surge in self-custody interest fueled by Bitcoin’s approach to $100,000.

Key factors driving BTC’s price rally include Bitcoin's fourth halving, reduced global interest rates, and Donald Trump’s presidential election win. Investors have also been withdrawing Bitcoin from exchanges, indicating a shift toward self-custody. Bullish sentiment among options traders suggests BTC could reach $150,000 by the end of 2024. However, analysts warn of potential pullbacks due to market volatility and a strengthening U.S. dollar. Meanwhile, Brazil has proposed a Sovereign Strategic Bitcoin Reserve to bolster its financial stability.

The self-custody trend has gained significant momentum, driven by Bitcoin’s rally. Hardware wallet provider Trezor reported a staggering 600% spike in weekly wallet sales, coinciding with Bitcoin’s all-time high of $99,645 on Nov. 22. On that same day, Trezor achieved its highest single-day sales in history.

The surge in demand for self-custody solutions like Trezor wallets is linked to several factors, including the recent United States presidential election. Donald Trump’s victory marked a regulatory shift toward a more supportive stance on cryptocurrencies. This clarity encouraged institutional adoption and created a favorable operating environment for crypto businesses, according to Trezor’s chief commercial officer, Danny Sanders. Despite this shift, Trezor reported no significant change in U.S.-based sales proportions.

Additionally, Bitcoin’s fourth halving in April 2024 and broader macroeconomic conditions have fueled the rally. Historically, Bitcoin tends to see price surges about six months after a halving event. Meanwhile, reduced interest rates from central banks in the U.S. and Europe have increased market liquidity, further propelling Bitcoin's price upward.

Disclaimer: This is not financial advice. Always do your own research before investing.

$9.4B Worth Bitcoin Options Expiry: Will the Price Jump?

On November 29, the crypto market is gearing up for a massive event: $9.4 billion in Bitcoin options and $1.3 billion in Ethereum options are set to expire. This could lead to significant price fluctuations, especially with the U.S. Thanksgiving holiday just behind us.

Here’s why it matters: nearly half of all Bitcoin options—about $4.2 billion—are “in the money” (ITM). For many traders, this means profits are on the horizon. Most of these are call options, indicating bets that Bitcoin’s price will keep rising. This setup could trigger significant price activity as November 29 approaches. Historically, similar expirations have caused price drops, like a 3% decline in October, but this time might be different.

With so many ITM calls, market volatility is almost guaranteed. Traders looking to secure profits could create price swings. Meanwhile, a substantial number of put options are concentrated around $70,000, but analysts believe the real action will focus between $70,000 and $82,000, aligning with the “max pain” theory.

Out-of-the-money (OTM) options also play a role, with $5.2 billion worth still active. While many are puts, they often act as a hedge against downturns rather than outright bearish bets. Since Bitcoin’s current price is above the max pain level, market makers might need to buy more BTC to balance their positions, potentially driving prices higher—possibly edging closer to $100,000.

As this options expiry event unfolds, Bitcoin’s price could see dramatic swings. Will market makers propel BTC to new highs, or will profit-taking lead to a dip? The crypto world is holding its breath, with November 29 shaping up to be a pivotal day.

MicroStrategy expands Bitcoin holdings with $5.4B purchase

MicroStrategy, a publicly traded business intelligence and software firm, announced a major expansion of its Bitcoin holdings in a filing on Nov. 25.

The company acquired approximately 55,000 Bitcoin (BTC) for $5.4 billion between Nov. 18 and 24 at an average price of $97,862 per coin. According to the filing, the purchase was funded through proceeds from recent equity and debt offerings.

This latest acquisition brings MicroStrategy’s total BTC holdings to a staggering 386,700 BTC, acquired at a cumulative cost of $21.9 billion — or an average price of $56,761 per token.

The firm’s aggressive buying spree near Bitcoin’s new high of almost $100,000 signals its confidence in BTC’s long-term growth potential, fueled by rising institutional adoption and optimism about pro-crypto legislation under the new U.S. presidential administration.

MicroStrategy’s bold strategy underscores its position as one of the most bullish institutional players in the crypto space, betting big on Bitcoin’s future.

Expert Now Notes SHIB And Dogecoin Resemblance

Shiba Inu (SHIB) could be on the verge of a significant price surge, with analysts drawing comparisons to Dogecoin’s recent explosive growth. One expert suggests SHIB may follow a similar trajectory, potentially rising to $0.000049, which would represent a substantial gain.

Dogecoin, the original meme coin, recently skyrocketed by over 100% to hit $0.4359, a rally driven by its association with Elon Musk. This surge temporarily pushed Dogecoin’s market capitalization to an astonishing $65 trillion, briefly surpassing XRP.

Although Shiba Inu has gained 39% over the past month, it hasn’t matched Dogecoin’s meteoric rise. The Ethereum-based meme coin recently broke a key resistance level at $0.000021 but has lagged behind other high-performing assets like XRP and Solana.

Crypto analyst Ali Martinez has identified similarities between Shiba Inu’s current price chart and Dogecoin’s chart before its explosive rally. If the pattern holds, SHIB could experience a nearly 100% increase, potentially reaching a three-year high of $0.000049.

Disclaimer: This is not financial advice. Always do your own research before investing.

Massive Ethereum Whale Dumps 73,356 ETH, Retains $1.1 Billion in Holdings

A massive Ethereum whale that accumulated nearly 400,000 ETH when the cryptocurrency was trading at just $6 per token has recently returned to activity, sparking significant attention in the crypto market. This whale acquired 398,889 ETH for about $2.4 million between January and March 2016. Today, with Ethereum trading at $3,350, that stash is worth over $1.34 billion.

After eight years of inactivity, the whale began selling on November 7, unloading 73,356 ETH valued at approximately $224.4 million. Despite these sales, the wallet still holds 325,533 ETH worth $1.1 billion, maintaining its status as a major player in the Ethereum ecosystem.

This renewed activity coincides with Ethereum’s recent 8.5% price surge during a broader cryptocurrency market rally. Bitcoin, the leading cryptocurrency, is nearing the $100,000 milestone for the first time, while Ethereum still trades below its all-time high of $4,600 reached in 2021.

Interestingly, Ethereum’s circulating supply on exchanges has been shrinking. In a single week last month, approximately $750 million worth of ETH (300,000 tokens) was withdrawn from exchanges. On-chain analysts interpret this as a bullish signal: with less ETH available on exchanges, steady or rising demand could drive prices higher.

Some Ethereum holders are choosing to stake their tokens instead, leveraging the network’s Proof-of-Stake consensus mechanism to earn yields. This shift from exchanges to personal custody or staking underscores confidence in Ethereum’s long-term potential.

Sui Crypto Integrates FDUSD To Drive Ecosystem Liquidity

The Sui blockchain, a Layer-1 network, has made a strategic move to enhance liquidity and foster innovation by integrating FDUSD, a fast-growing stablecoin. This marks FDUSD’s first expansion to a new blockchain since its launch last summer, signaling a significant milestone for both Sui and the stablecoin.

FDUSD has quickly become a trusted reserve-backed stablecoin, known for its stability in the volatile crypto market. Its integration with Sui brings several benefits, including improved liquidity and reduced risks tied to asset price fluctuations. By providing a stable value, FDUSD becomes a reliable medium for traders, investors, and developers within the ecosystem.

On the Sui network, FDUSD streamlines transactions, enabling faster and more cost-effective transfers while eliminating concerns about price instability. This is expected to enhance everyday transactions as well as complex financial operations, making them smoother and more predictable.

The integration also strengthens the connection between traditional finance and blockchain technology. FDUSD combines the efficiency of decentralized systems with the stability of conventional currencies, supporting Sui’s efforts to expand into Decentralized Finance (DeFi) and Web3 applications.

By incorporating FDUSD, Sui positions itself as more than just a transactional network, transforming into a key player driving ecosystem growth and innovation. This collaboration highlights Sui’s focus on advancing its DeFi capabilities while bridging the gap between traditional finance and blockchain.

Stripe and Circle's USDC integrate into Aptos ecosystem

The Aptos blockchain is taking a big step forward by integrating Circle’s USDC stablecoin and Stripe’s payment services. This collaboration introduces Circle’s native USDC and its Cross-Chain Transfer Protocol (CCTP) to the Aptos ecosystem, making transactions more seamless across eight major blockchains like Ethereum, Solana, and Arbitrum. This upgrade opens up over 72 pathways for cross-chain operations, replacing the previously used Ethereum-bridged USDC, which had over $140 million in circulation on Aptos.

To make the transition smooth, bridge providers like Stargate, built on LayerZero, will help users move from bridged USDC to the native version. This development enhances the efficiency and reliability of transactions within the Aptos network.

Stripe’s integration brings an added advantage: a fiat on-ramp. This feature allows users to convert traditional currencies directly into USDC through wallets compatible with Aptos. It simplifies global payment flows, making it easier for merchants to manage pay-ins and payouts while connecting traditional finance with the blockchain.

John Egan, head of crypto at Stripe, highlighted that this integration expands opportunities for both merchants and consumers, offering a more efficient way to move funds globally using stablecoins. This announcement also follows Stripe’s $1.1 billion acquisition of the stablecoin payment firm Bridge, showcasing its commitment to enhancing blockchain-based global payments.

XRP: Massive Two Million Drop in Four Days

XRP has seen a sharp drop in transaction activity over the past four days, with payments between accounts decreasing by more than two million. This decline comes after a period of heightened activity on the XRP Ledger, which was marked by significant price increases, more active accounts, completed transactions, and XRP burned as fees earlier this month.

The recent drop in payment volume may signal a slowdown in transactions or shifts in market behavior. Earlier in November, transaction volumes spiked, likely due to increased trading and whale activity. However, this momentum has tapered off, raising concerns about whether XRP can maintain its recent gains.

The asset's trading volume has also decreased, aligning with a possible loss of buying pressure from institutional and retail participants. Indicators such as the Relative Strength Index (RSI) show XRP still in an overbought zone, suggesting the potential for a market correction. If XRP struggles to hold its $1.10 support level, the next critical price points to watch are $0.95 and $0.86.

Disclaimer: This is not financial advice. Alway do your own research before investing.

A Bitcoin wallet that had been inactive for over 12 years suddenly came to life, moving $35.84 million worth of BTC. This wallet initially received 400 BTC in June 2012 when Bitcoin was valued at just $5.45, representing a staggering profit of over 1.6 million percent.

The wallet had remained untouched except for receiving trace amounts of Bitcoin over the years, likely due to "dusting attacks." These attacks involve sending tiny amounts of cryptocurrency to wallets to analyze their activity and potentially uncover the identity of the owners.

This wasn’t an isolated event, as several other long-dormant Bitcoin wallets have also become active recently, moving significant amounts of BTC after years of inactivity. Such movements often spark curiosity and speculation in the crypto community about the reasons behind the reactivation of these ancient wallets and the possible impact on the market.

Polygon, a leading Layer 2 solution for Ethereum, has seen a significant move in the crypto market recently. In just 96 hours, major investors—often referred to as "whales"—purchased around 140 million $POL tokens, totaling a massive $56 million. This development, reported by crypto analyst, has sparked widespread speculation about a potential price rally for the token.

Polygon plays a crucial role in enhancing Ethereum's functionality by addressing its challenges, such as high gas fees and slow transaction times. By offering faster and cheaper transactions, Polygon has become a go-to platform for blockchain developers and investors looking to tap into the potential of decentralized applications (dApps). This utility has been a driving force behind its rising popularity and market demand.

The involvement of whales often signals confidence in a project’s future. Their substantial investments are seen as a bet on the growth and success of Polygon’s ecosystem. As more developers choose Polygon for deploying dApps and as its solutions gain traction, the demand for $POL tokens is expected to grow further. This combination of whale activity and growing adoption positions Polygon for potential long-term success in the crypto space.

MicroStrategy, a company known for its business intelligence software and its heavy investment in Bitcoin, is making waves in the stock market. The firm recently completed its biggest Bitcoin purchase yet, worth about $4.6 billion. This bold move has caused a significant spike in trading activity for its stock, MSTR.

On Wednesday, MSTR trading volume in dollar terms outpaced even some of the most popular assets on the market, such as SPY, a leading exchange-traded fund. This unexpected surge drew attention, with Bloomberg Intelligence's senior ETF analyst Eric Balchunas commenting on X (formerly Twitter) about how extraordinary it was for MSTR to beat out trading giants like Tesla (TSLA) and Nvidia (NVDA). According to Balchunas, it has been years since a stock outperformed both in trading volume, making this event even more remarkable.

Balchunas noted that MSTR’s trading activity was particularly impressive when measured in dollar volume, as reported by Bloomberg Terminal. While it ranked seventh in terms of shares traded, it was second in rankings from another data source, FactSet.

MicroStrategy has been following a unique approach for years: using funds from its software business and borrowing through debt sales to invest heavily in Bitcoin. Founded by Michael Saylor in 1989, the company has fully embraced Bitcoin as a core part of its strategy, and this recent purchase marks a significant milestone in its journey.

Bitcoin Surges Above $94,000: What It Means for You

Bitcoin (BTC), the world's most well-known cryptocurrency, has reached a new milestone by trading above $94,000. This marks one of its highest values ever, sparking excitement among investors and crypto enthusiasts. Let’s break down what this means in simple terms.

What Does This Mean for Investors?

If you already own Bitcoin, the rise in price could mean profits if you choose to sell. However, some people prefer to hold onto their Bitcoin (a strategy called "HODLing") because they believe its value will increase even more in the future.

For those thinking about investing, be cautious. While Bitcoin's price is climbing, it is also very volatile—this means its value can go up or down quickly.

What’s Next for Bitcoin?

Some experts believe Bitcoin could continue rising as more people see it as “digital gold.” Others warn that prices could drop after such a big climb, which has happened in the past.

Should You Invest Now?

If you’re new to Bitcoin, take time to learn about how it works before investing. Only invest money you can afford to lose because the crypto market can be unpredictable.

Bitcoin reaching $94,000 is a big deal, showing how powerful and popular cryptocurrency has become. Whether you’re a current investor or just curious, it’s important to stay informed and make smart decisions about your money.

Disclaimer: This is not financial advice. Always do your own research before investing.

BTC

One afternoon, John was out taking care of chores when he checked his phone and saw that Bitcoin had reached its highest price ever. Excited, he rushed home to sell, but by the time he got there, the price had already dropped. Feeling defeated, he sat down and wondered if the universe was playing tricks on him.

Months later, John got an email from his exchange. Nervously, he opened the app and saw his balance had doubled—or close to it. He had just enough to break even, but it felt like a win. He laughed at the whole journey—his failed mining setup, his sticky note password system, and all the times he tried to “buy the dip” and got it wrong.

The Hidden Dangers of Crypto: A Tale of Scams and How to Protect Yourself

John, like many newcomers, was drawn to the world of cryptocurrency by the promise of easy profits. After hearing stories of people making quick fortunes, he eagerly dove in, setting up a wallet and buying his first Bitcoin. Soon, he found himself exploring other coins and reading about the next big investment opportunity. One day, he stumbled upon a post about a new altcoin that was supposedly going to skyrocket in value.

The website looked professional, complete with whitepapers, testimonials, and promises of massive returns. John, excited about the potential for gains, transferred a significant amount of Bitcoin into the platform. But as days passed, he began noticing red flags. The returns never materialized, the website seemed to glitch, and the "team" behind the project disappeared. It hit him—he had been scammed. The slick website was just a trap, and his money was gone.

John’s story is a cautionary tale about the risks in the crypto world. Scammers prey on the excitement and eagerness of newcomers. To protect yourself, always double-check URLs, never share private keys, and avoid platforms that promise too-good-to-be-true returns. Crypto offers great opportunities, but it’s crucial to stay vigilant and informed.

The Importance of Keeping Seed Words in a Safe Location

John had heard horror stories about people losing access to their Bitcoin wallets due to forgotten seed words. Feeling paranoid, he jotted his seed words on a sticky note and hid it somewhere he thought was “safe.”

Days later, when he got logged out, John panicked. He tore through the house, cursing his “brilliant system,” until he finally found the sticky note taped to the back of a cereal box.

Relieved but frustrated, John promised himself to find a better way to secure his seed words—and to double-check his hiding spots next time.

BTC Day-to-Day trading

Encouraged by Dave, John took on the crypto mantra, “Buy the dip!” Whenever Bitcoin dropped, John doubled down. Soon, he’d bought so many dips that his savings account had “dipped” as well. “Is there an end to this dip?” he wondered aloud. His wife asked if he was hungry—apparently, he’d been muttering about dips for hours.

With his newfound crypto confidence, John tried day trading. He bought in the morning and decided he’d sell after lunch, hoping to make a quick profit. But each time he sold, the price went up, and each time he bought back in, it plummeted. By 3 p.m., he’d made negative progress, eaten an entire bag of chips, and had to close his laptop to avoid crying.

BTC - The “HODL” Philosophy

Determined to make sense of things, John decided to research crypto “strategies.” He stumbled upon a Reddit post that advised him to “HODL.” John thought it was a typo, but he saw the word everywhere: HODL, HODL, HODL. Turns out, it meant “Hold on for dear life.” John chuckled—though, after watching Bitcoin dip again, he realized that “dear life” was a pretty accurate description of what he was doing.

John learned that in the world of Bitcoin, HODLing was more about surviving the emotional highs and lows than any specific strategy. It was a test of patience, persistence, and—above all—holding on tight.

BTC

After John bought 0.1 BTC the day before, he checked his account and was thrilled to see it had gained a little value. Maybe I really am a natural, he thought. But by lunchtime, it was down 15%. By evening, he was practically lying on the floor, watching his balance yo-yo. He panicked and checked it again at midnight, only to find… it was back up! John realized he’d joined a roller coaster with no seatbelt.

BTC

Meet John, a middle-aged office worker with a knack for spilling coffee and forgetting passwords. John wasn’t exactly a tech wizard, but he had this neighbor, Dave, who wouldn’t stop talking about Bitcoin. “It’s the future!” Dave said. So, one Sunday afternoon, John opened a crypto exchange account, squinted at his screen, and bought his first 0.1 BTC. He stared at his balance, feeling like a Wall Street hotshot. He even whispered, “Watch out, world.”