● BTC briefly broke through 93,000 USDT, setting a new record
According to Binance market data, BTC briefly broke through 93,000 USDT, setting a new historical high.
According to Odaily Planet Daily, the annual rate of the US unadjusted CPI in October was 2.6%, in line with market expectations, a three-month high, and ended the "six-day losing streak". Traders increased their bets on the Federal Reserve's interest rate cut in December, and the probability of a rate cut rose from 60% before the release of US inflation data to 75%.
● Minneapolis Fed President says risk of economic stagnation is greater than risk of inflation
According to BlockBeats, on November 13, Kashkari, President of the Federal Reserve Bank of Minneapolis, said after the release of CPI data that there is no obvious upward risk of inflation at present.
Kashkari noted that the greater risk is that the economy could stagnate.
● FBI seizes Polymarket CEO’s equipment, may accuse him of market manipulation
According to Wu, the FBI seized the cellphone and electronic devices of Polymarket’s CEO after the betting platform predicted Trump’s victory. The government may accuse Polymarket of manipulating the market and rigging the polls to favor Trump.
● Tether issued 5 billion USDT in the past 5 days
According to BlockBeats, on-chain data shows that Tether has issued a total of 5 billion USDT in the past 5 days.
According to BlockBeats, on November 13, Galaxy Digital founder Mike Novogratz said in an interview with Bloomberg TV that if the speculation that Bitcoin is regarded as a strategic reserve asset becomes a reality, the price of the currency will reach $500,000. But he believes that the possibility of "becoming a strategic asset" is low. If Bitcoin becomes a reserve asset, other countries will need to buy Bitcoin.
● Data: CME trading volume surges after US election
According to Blockworks, CME trading volumes surged after the election, hitting an all-time high notional volume of over $16.4 billion on November 6. K33 analysts noted that despite the aggressive market, the CME premium rose to over 15%, and market tops do not typically coincide with CME premiums. CME open interest increased by $2.4 billion.
Analysts expect bitcoin prices could reach $100,000 by the end of the year. Historical data shows that round numbers often trigger extreme volatility. Galaxy's Alex Thorn noted that bitcoin's price swing on Monday was the 49th largest gain in history. K33 said bitcoin's momentum has fueled the enthusiasm of perpetual contract traders, and funding rates continue to rise.
According to Blockworks, Bitcoin has established its position and there is no longer a debate about "the next Bitcoin". Instead, the market focuses on "the next Ethereum". Although more than 30 tokens that are seen as ETH killers have emerged, only 10 have outperformed ETH in the past three years. TRON's ETH ratio has risen by about 140%, TON has doubled, and SOL has increased by 26% against ETH since 2021 and 140% in the past year. However, the market currently does not believe that SOL can replace Ethereum.
Ethereum's share of the non-Bitcoin crypto market is about 22%, while ETH Killer has 18%. SOL and BNB have a market cap of about $100 billion, and Cardano is $20 billion. ETH is expected to reach $400 billion, and future upgrades may keep it competitive.
