● BTC briefly surpassed 89,000 USDT, continuing to set new highs
According to Binance market data, BTC briefly surpassed 89,000 USDT, continuing to set new highs.
Driven by the US presidential election and Bitcoin (BTC) reaching an all-time high, the cryptocurrency market has seen increased liquidity. According to DeFiLlama data, Binance achieved two consecutive inflows of over $1 billion in the past two weeks, with a net inflow in November exceeding $5 billion, significantly ahead of other centralized exchanges, maintaining the top position, nearly five times that of the second place.
Data shows that as of now, the total user assets on the Binance platform have reached $130 billion, and its reserve share in the global cryptocurrency market has risen to 25%.
On November 6 (Wednesday), the Binance platform's daily application access exceeded 13 million times, setting a new record for user activity, highlighting Binance's solid position in the cryptocurrency market and its continuously growing market share, as well as users' strong reliance on the platform.
According to Foresight News, the likelihood of Bitcoin reaching $100,000 by the end of the year in the prediction market surged from 28% yesterday to 56%, doubling in one day.
● Bernstein: Bitcoin is expected to reach $200,000 by the end of 2025
According to Golden Finance, Bernstein analysts released a bullish report after the US election, encouraging investors to quickly increase their exposure to the cryptocurrency industry. Bitcoin broke through $80,000 to set a new historical high after Trump's victory.
Gautam Chhugani, head of research at Bernstein, stated that the Trump administration is expected to adopt a pro-cryptocurrency policy or appoint a new SEC chairman, which could bring a more favorable regulatory environment for the industry. The report suggests that investors focus on spot Bitcoin and Ethereum ETFs, publicly listed Bitcoin mining companies, companies holding Bitcoin, and cryptocurrency trading platforms.
Furthermore, Bernstein expects Bitcoin to reach $200,000 by the end of 2025 and recommends that investors buy major digital assets such as BTC, ETH, and SOL.
According to PANews, the cryptocurrency fund management agency EMC Labs stated that with the US election settled and the US stock market soaring, traders are betting on improved corporate profits in a lower tax and low interest rate environment. In this context, BTC ETF inflows totaled $1.728 billion for the week, with stablecoin channels inflowing $4.776 billion, totaling $6.504 billion, the largest single-week inflow since 2024. BTC has returned to an upward trend line, marking the start of the second half of the crypto bull market. ETH saw a weekly increase of 29.52%, and altcoins rose broadly. EMC Labs' BTC Cycle Metrics indicator is at 0.875, indicating the market is in an upward phase with ample liquidity, and BTC and altcoins are expected to continue to rise.
According to BlockBeats, QCP Capital released a research report on November 11, stating that Bitcoin soared to an all-time high, but due to large-scale profit-taking from long-term bullish options, volatility did not react significantly. Bitcoin broke through a key resistance level, and the market is in an euphoric state. Perpetual contract financing rates are high, with basis yields reaching a 7-month high. Despite maintaining a bullish outlook, caution is advised regarding potential leveraged liquidation pullbacks.
In the short term, the spot market may experience fluctuations with reduced volatility. Key events include the US CPI, PPI, and Powell's speech, which will provide guidance for interest rate cuts in December.
● The total market value of cryptocurrencies exceeds $3 trillion
According to Odaily Planet Daily, data shows that the total market value of cryptocurrencies has exceeded $3 trillion, currently reaching $3,000,204,783,320. Among them, Bitcoin's market share is approximately 55.8%; Ethereum's market share is approximately 13.1%.
According to Wu Says, CoinShares data shows that last week digital asset investment products had inflows of $1.98 billion, with the global asset management scale reaching a new high of $116 billion. Bitcoin had inflows of $1.8 billion, ranking first; Ethereum had inflows of $157 million, the largest inflow since July; blockchain stocks had inflows of $61 million.
● Matrixport report indicates market expects Trump to support cryptocurrency
According to Foresight News, Matrixport released a report indicating that the market expects Trump to shift US regulatory policy to an environment that supports cryptocurrency, making the bullish momentum difficult to stop. With his inauguration set for January 20, 2025, the market has a few weeks to maintain this upward trend. We are entering an unknown territory.
