Bitcoin reached a new all-time high
Bitcoin broke through $89,000, reaching a new all-time high. As of press time, Bitcoin is quoted at $89,400, with an increase of over 11% in the past 24 hours and over 32% in the past 7 days.
Coinglass data shows that in the last 24 hours, a total of 174,194 people were liquidated, with a total liquidation amount of $657 million. The largest single liquidation occurred on Binance - BTCUSDT worth $15.7038 million.
On the news front, it has been reported that U.S. president-elect Trump is preparing to take a more lenient stance on cryptocurrencies, looking for key position candidates who are friendly to the crypto industry, while his senior advisors are consulting with crypto executives regarding potential changes to federal policy. Initial discussions have focused on a range of financial regulatory agencies, including the U.S. SEC.
According to five insiders, Trump's advisors are considering appointing current regulators, former federal officials, and financial industry executives to key leadership positions, many of whom have publicly expressed support for cryptocurrencies. They warned that the discussion is still in the early stages and the candidate list is still changing.
Last night, Tesla, a company owned by Dogecoin supporter Elon Musk, continued to rise sharply, up about 9%, marking the largest five-day increase in four years, with a total market value of $1.12 trillion, rising to the seventh position in U.S. stocks.
As of press time, Dogecoin is quoted at $0.36, with an increase of over 25% in the past 24 hours and a market value exceeding $53 billion.
In addition, Open AI founder Sam tweeted: I am optimistic about the bright future of cryptocurrencies! Over the past year, (fka worldcoin) has made amazing progress, and I am very proud of the team, especially @alexblania's leadership! A rare combination of vision and execution ability.
As of press time, WLD is quoted at $2.76, with an increase of over 28% in the past 24 hours and a market value exceeding $1.7 billion.
Cryptocurrency concept stocks surged
On Monday (November 11), European and American stock markets collectively rose, with the Dow Jones up 0.69%, the S&P 500 up 0.1%, and the Nasdaq up 0.06%, all continuing to set historical highs. Cryptocurrency concept stocks surged, with Canaan Technology up 41%, MicroStrategy up 25%, and Coinbase up 19%.
ETF trading volume continues to set new highs
Since the election, the inflow of funds into spot cryptocurrency ETFs has been steadily rising.
As Bitcoin first soared above $89,000, BlackRock's spot Bitcoin ETF also set a new daily trading volume record, with Bloomberg data showing that BlackRock's spot Bitcoin ETF daily trading volume reached $4.5 billion.
Citigroup strategists emphasized in a research report that cryptocurrencies are "one of the few Trump trades that have not retraced."
The strategist team stated: "Part of the reason is the expectation that the Trump administration will take a friendly stance towards cryptocurrencies, and investors hope this will translate into regulatory clarity in the U.S. Specifically, net inflows into BTC and ETH ETFs were $2.01 billion and $132 million, respectively, within two days after the election. We continue to view ETF fund inflows as the main driving force behind Bitcoin's price increase."
