1. Market Observation
Keywords: BTC, IMX, ZKasino
BTC ended last week with a bullish candle, and the weekly closing price reached an all-time high, with the latest quote at $97,434.73, up 130.53% year-to-date. Institutional funds continue to have a positive outlook on the Bitcoin market, with Fundstrat's digital asset strategy director noting that the Korean kimchi premium has dropped to 0%, which may indicate that BTC still has room for growth.
ETH is currently quoted at $3,339.69, with a year-to-date rise of 46.38%, showing relatively moderate performance compared to BTC. In terms of the ecosystem, Vitalik emphasized that the crypto industry needs to build more practical applications rather than just focusing on issuing coins and trading.
The cryptocurrency ecosystem continues to expand, with Hong Kong ZhongAn Bank launching virtual currency trading services, indicating an increased acceptance of crypto assets by traditional financial institutions. Meanwhile, tokens like IMX, ADA, APEX are about to see significant unlocks, with IMX unlocking approximately $40.5 million, and investors should be cautious of the 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 the release of important data such as the core PCE price index and GDP, which may affect market expectations for the Federal Reserve's monetary policy and, in turn, impact the cryptocurrency market.
2. Key Data (as of November 25, 10:03 AM Hong Kong Time)
• S&P 500: 5,969.34 points (Year-to-date +25.15%)
• Nasdaq: 19,003.65 points (Year-to-date +26.60%)
• 10-Year US Treasury Yield: 4.355% (Year-to-date -3.64 basis points)
• US Dollar Index: 106.561 (Year-to-date +5.00%)
• Bitcoin: $97,434.73 (Year-to-date +130.53%)
• Ethereum: $3,339.69 (Year-to-date +46.38%)
3. ETF Flow (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 First-time unemployment claims
Actual: 213,000, Previous: 219,000, Expected: 222,000
• November 22, 11:00 PM Michigan Consumer Sentiment Index Final Value.
Actual: 71.8, Previous: 70.5, Expected: 73.7
Upcoming (November 27, 9:30 PM):
• Core PCE Price Index MoM (Previous: 0.3%, Expected: 0.3%)
• GDP quarterly growth rate (Previous: 3.0%, Expected: 2.8%)
• Personal Income (Previous: 0.3%, Expected: 0.3%)
• Personal Spending (Previous: 0.5%, Expected: 0.4%)
5. Hot News (November 22 to November 25)
• Data: Tokens such as IMX, ADA, APEX are set to unlock a significant amount next week, with IMX unlocking approximately $40.5 million.
• Murad: Worthwhile Meme project communities should possess six characteristics, including resilience and diamond hands.
• Hong Kong ZhongAn Bank launched virtual currency trading services on its app today.
• Starknet: The integration phase of STRK staking's first phase has now begun.
• 10x Research: Upbit's trading volume last weekend reached $14 billion in a single day, comparable to the Korean stock market.
• Andrew Kang: The DeSci field is currently akin to the DeFi era in early 2019, having invested in BIO Protocol.
• Vitalik: The crypto industry needs to create meaningful applications with a lot of user participation, rather than just issuing coins and creating exchanges.
• Fundstrat's digital asset strategy director: The current kimchi premium in Korea is about 0%, which may indicate that BTC still has room to rise.
• ai16z: DAO partners have decided that ai16z and AI Combinator will fully separate.
• Sui established a strategic partnership with Franklin Templeton Digital Assets.
• ZKasino misappropriated funds intended for user refunds to leverage long ETH on-chain.
Supported by OSL - Hong Kong's largest OTC trading platform, continuously providing regulated digital asset services since 2018.
