1. Market observation
Keywords: BTC, IMX, ZKasino
BTC closed last week with a positive line, and the weekly closing price hit a record high. The latest price is $97,434.73, and the year-to-date increase is as high as 130.53%. Institutional funds continue to be optimistic about the Bitcoin market. Fundstrat's head of digital asset strategy pointed out that the premium of Korean kimchi has dropped to 0%, which may indicate that BTC still has room for growth.
ETH is currently priced at $3,339.69, up 46.38% year-to-date, which is relatively mild compared to BTC. In terms of ecosystem, Vitalik emphasized that the crypto industry needs to build more practical applications rather than just focusing on coin issuance and transactions.
The cryptocurrency ecosystem continues to expand, with Hong Kong Zhong An Bank launching virtual currency trading services, indicating an increasing acceptance of crypto assets by traditional financial institutions. At the same time, tokens like IMX, ADA, and APEX are about to see significant unlocks, with IMX's unlock scale approximately $40.5 million, and investors need to be wary of potential selling pressure from these unlocks.
From a macro perspective, US stocks continue to strengthen, with the S&P 500 and Nasdaq up 25.15% and 26.60%, respectively. Next week, the market will welcome important data releases such as the core PCE price index and GDP, which may influence market expectations of the Federal Reserve's monetary policy and, in turn, affect the cryptocurrency market's trend.
2. Key data (as of November 25, 10:03 Hong Kong time)
• S&P 500: 5,969.34 points (+25.15% year-to-date)
• Nasdaq: 19,003.65 points (+26.60% year-to-date)
• 10-year US Treasury yield: 4.355% (-3.64 basis points year-to-date)
• Dollar index: 106.561 (+5.00% year-to-date)
• Bitcoin: $97,434.73 (+130.53% year-to-date)
• Ethereum: $3,339.69 (+46.38% year-to-date)
3. ETF flows (November 22 Eastern Time)
• Bitcoin ETF: Net inflow of $490.3 million.
• Ethereum ETF: Net inflow of $91.3 million
4. Important dates
Data released:
• November 21, 9:30 PM Initial claims for unemployment benefits
Actual: 213,000, previous value: 219,000, forecast: 222,000
• November 22, 11:00 PM Michigan Consumer Confidence Index final value
Actual: 71.8, previous value: 70.5, forecast: 73.7
Upcoming announcement (November 27 at 9:30 PM):
• Core PCE price index month-on-month (previous value: 0.3%, forecast: 0.3%)
• GDP quarterly growth rate (previous value: 3.0%, forecast: 2.8%)
• Personal income (previous value: 0.3%, forecast: 0.3%)
• Personal spending (previous value: 0.5%, forecast: 0.4%)
5. Hot news (November 22 to November 25)
• Data: Tokens such as IMX, ADA, APEX will see large unlocks next week, with IMX unlocking valued at approximately $40.5 million.
• Murad: A meme project community worth investing in should have six characteristics, including multiple resistances to declines and diamond hands.
• Hong Kong Zhong An Bank launched virtual currency trading services on its app today.
• Starknet: The integration phase of the first stage of STRK staking has now begun.
• 10x Research: Upbit's single-day trading volume reached $14 billion last weekend, comparable to the Korean stock market.
• Andrew Kang: The DeSci field is currently like the early DeFi era in 2019, having invested in BIO Protocol.
• Vitalik: The crypto industry needs to create meaningful applications with a lot of user participation, not just issuing coins and creating exchanges.
• Fundstrat Digital Asset Strategy Director: Currently, the Korean kimchi premium is about 0%, which may indicate that BTC has room for upward movement.
• ai16z: DAO partners have decided that ai16z and AI Combinator will completely separate.
• Sui establishes a strategic partnership with Franklin Templeton Digital Assets.
• ZKasino misappropriated funds prepared to be returned to users to leverage ETH on-chain.
Supported by OSL - Hong Kong's largest OTC trading platform, continuously providing regulated digital asset services to the market since 2018.
