Bitcoin is just one step away from the $100,000 mark this week, falling back from its all-time high and rebounding to $98,000. The following is a summary of this week’s important events, on-chain data updates, and events that need attention next week. (Preliminary summary: Trump 2.0 cabinet forms a cryptocurrency national team? More than five are senior Bitcoin players) (Background supplement: Dynamic Zone Weekly Report: Bitcoin sprints to the 100,000 mark, SEC Chairman Gensler will step down, micro-strategy will be added Warehouse BTC..) A quick look at Bitcoin dynamics of important events this week (11/24-11/30): The price of Bitcoin is close to US$100,000, but the probability of falling during the past Thanksgiving Day was as high as 70%. BTC strategic reserve: Brazilian lawmakers proposed to include “Bitcoin in the national reserve.” Interest rate cut progress: U.S. officials support interest rate cuts; Japanese CPI exceeded expectations, and interest rate hike expectations have increased. Taiwan: New regulations on money laundering prevention were launched on 11/30; local exchanges violated the money laundering prevention law and were fined NT$1.5 million. Regulation: The United States (CFTC) may lead the regulation of cryptocurrency and approve tokenization; it is not illegal for Chinese individuals to hold virtual currencies; coins can be purchased on banks in Hong Kong. Middle East Conflict: Ceasefire Agreement! Gold and Bitcoin both fell. Buffett: "99.5% of the inheritance will be donated to the family charitable foundation." Rich dad: Bitcoin $13 million! Arthur Hayes: Bull market is about to cash out, Bitcoin will be 250,000 mg by the end of 2025! Dogecoin looks at $1. Micro strategy: Add 5.4 billion US dollars to buy 55,000 BTC. Bitcoin is not expensive at 97,000! Musk: Hinted that the IRS will be audited by the Department of Government Efficiency (DOGE) or may have a budget cut. Changes in trading market data this week Sentiment and sectors 1. Fear and Greed Index This week’s market sentiment indicator rose from 80 (extreme greed) to 78 (greed), and was in the range of (greed) and (extreme greed) throughout the week. 2. Funding rate heat map This week, the Bitcoin funding rate reached a maximum of 40.55% and a minimum of 10.38%, indicating that the bullish sentiment continues to be strong. The funding rate heat map shows the changing trend of funding rates for different cryptocurrencies. The color ranges from green with zero rate to yellow with 50% positive rate. Black represents negative rate; the white K-line chart shows Bitcoin price fluctuations. , in contrast to the funding rate. 3. Sector performance According to Artemis data, the average increase in the blockchain sector this week was (14.4%), among which Data Availability, Staking Services, and Gaming occupy the top three respectively (39.4%, 35.4%, and 29.1%). This week’s gains for Bitcoin and Ethereum were (-3.4%, 7.0%). The three worst performing areas are: Memecoin (-3.4%), RWA (-3.1%), and Exchange Tokens (-1.4%). Market Liquidity 1. Total cryptocurrency market capitalization and stablecoin supply This week’s data on the total cryptocurrency market capitalization showed that it remained at $3.41 trillion from $3.41 trillion. BTC’s market share is 54.52%, and ETH’s market share is 12.56%. The total stablecoin supply, an important indicator of market health and liquidity, increased by $930 million, or approximately 0.5%, this week from $179.09 billion to $180.02 billion. 2. Potential purchasing power in the exchange Data show that exchange assets showed a net inflow trend this week, especially the large inflow of USDT after the US election. This phenomenon may be investors preparing for upcoming market fluctuations, and the inflow of funds into exchanges may mean increased buying demand in the short term. In addition, the highest single-day net inflow of funds reached US$14.7 billion on November 23, surpassing the highest single-day net inflow of US$6.7 billion in the previous bull market, indicating ample market liquidity. 3. Cryptocurrency trends The overall sentiment in the crypto market is bullish this week, with Thena, Secret, and The Sandbox leading the way with increases of 1,548%, 108%, and 90.2% respectively, and mainstream currencies generally rising. According to Blockchaincenter data, the current altcoin seasonal index is 63 (+30), showing signs of a rebound in the popularity of altcoins. Bitcoin technical indicators 1. Bitcoin spot ETF funds Bitcoin ETF funds inflow this week were US$30.7 million. 2. Bitcoin Rainbow Chart The Bitcoin Rainbow Chart shows that the current price of Bitcoin ($98,000) is in the "consider fixed investment" range. 3. Bitcoin’s net profit and loss performance Bitcoin’s realized net profit and loss indicator shows that market sentiment is currently recovering, and the market structure has exceeded this year’s high. At that time, Bitcoin prices peaked in mid-March. Although the market has performed strongly in the short term, investors still need to be wary of potential correction risks, especially after a rapid rise, where profit-taking may occur. 4. Long-term Bitcoin holders According to on-chain data, the net positions of long-term Bitcoin holders have dropped significantly, and the red bar chart shows a gradual increase in selling pressure.Since mid-October, the change in the net position of long-term holders has turned from positive to negative, indicating that some long-term investors have begun to gradually take profits. This phenomenon is especially obvious when the price of Bitcoin rises to near new highs, indicating that some capital in the market chooses to profit at high levels, but the selling pressure has not yet reached the peak in March this year. Although market sentiment is optimistic, the reduction of LTH positions may increase short-term selling pressure. It is necessary to pay attention to the behavior of short-term holders (STH) and whether market demand can absorb the new supply. 5. Bitcoin on-chain purchasing power According to on-chain data, this week’s data on Bitcoin’s long- and short-term holders shows that as the price rises, the positions of short-term holders (red line) increase significantly, while long-term holders (blue line) ) positions decreased. Reflects the flow of funds from long-term investors to short-term speculators. As the proportion of short-term holders increases, market risk appetite heats up, but volatility risks also increase simultaneously. The reduction in positions by long-term holders indicates an increase in profit-taking at high levels, and attention needs to be paid to whether short-term funds can stably support market prices. 6. Bitcoin contract positions According to data, Bitcoin contract positions on exchanges rose rapidly this week, from 62.42 billion U.S. dollars to 62.55 billion U.S. dollars. The contract positions are at a historical high, and at the same time, the price of Bitcoin has also increased. at historically high levels. 7. Coinbase Bitcoin Premium Index This week’s Coinbase Bitcoin Premium Index shows that the demand for Bitcoin in the US market is still increasing. Apart from a brief period of negative premiums during the Asian trading session on Tuesday and Wednesday, premiums then rose again. The positive premium differential may suggest that U.S. investors have greater purchasing power in the market than global investors. 8. Short-term on-chain cost benchmark band This week, Bitcoin's short-term on-chain cost benchmark band shows that the price is close to the upper track (red line) of US$108,400, reflecting rising market sentiment and the increased willingness of short-term investors to make profits. The realized price for long-term holders (blue line) is $76,500. In the short term, the price may face resistance at the upper track, and the risk of a correction increases. It needs to be observed whether it can stabilize at a high level to support further upward movement. 9. Bitcoin Historical Monthly Return According to historical data in the 48th week, Bitcoin’s return was -0.37%, showing a slight decline in the price of Bitcoin that week.This performance is not only below the historical average return (+1.60%) and the median return (+3.1...

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