Article Source: Trading Moment
1. Market Observation
Keywords: BTC, IMX, ZKasino
BTC ended last week with a bullish candlestick, closing at a record high, with the latest quote at $97,434.73, a year-to-date increase of up to 130.53%. Institutional funds continue to be optimistic about the Bitcoin market, with Fundstrat's digital asset strategy chief pointing out that the Kimchi premium in South Korea has dropped to 0%, which may indicate that BTC still has room to rise.
ETH is currently priced at $3,339.69, with a year-to-date increase of 46.38%, which is relatively moderate compared to BTC. In terms of the ecosystem, Vitalik emphasized the need for the crypto industry to build more practical applications rather than just focusing on token issuance and trading.
The cryptocurrency ecosystem continues to expand, with Hong Kong Zhong An Bank launching virtual currency trading services, indicating an increased acceptance of crypto assets by traditional financial institutions. At the same time, tokens such as IMX, ADA, APEX are about to see significant unlocks, with IMX's unlock scale being approximately $40.5 million, and investors need to be cautious of the potential selling pressure brought by the unlock.
From a macro perspective, U.S. stocks continue to strengthen, with the S&P 500 and NASDAQ rising 25.15% and 26.60% respectively. Next week, the market will welcome the release of key data such as the Core PCE Price Index and GDP, which may affect market expectations for the Federal Reserve's monetary policy, thereby influencing the cryptocurrency market trend.
2. Key Data (As of November 25th Hong Kong Time 10:03)
• S&P 500: 5,969.34 points (Year-to-date +25.15%)
• NASDAQ: 19,003.65 points (Year-to-date +26.60%)
• 10-Year U.S. Treasury Yield: 4.355% (Year-to-date -3.64 basis points)
• 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 22nd Eastern Time)
• Bitcoin ETF: Net Inflow $490.3 million
• Ethereum ETF: Net Inflow $91.3 million
4. Important Dates
Data Released:
• November 21st 9:30 PM Initial Jobless Claims
Actual: 213,000, Previous: 219,000, Expected: 222,000
• November 22nd 11:00 PM Michigan Consumer Confidence Index Final Value
Actual: 71.8, Previous: 70.5, Expected: 73.7
Upcoming Release (November 27th 9:30 PM):
• Core PCE Price Index Month-on-Month (Previous: 0.3%, Expected: 0.3%)
• GDP Quarter-on-Quarter 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 22nd to November 25th)
• Data: Tokens such as IMX, ADA, APEX will see significant unlocks next week, with IMX unlocking worth about $40.5 million
• Murad: Worthwhile Meme project communities should have six characteristics, including resilience to downturns and diamond hands.
• Today, Zhong An Bank in Hong Kong launched virtual currency trading services on its app
• Starknet: The integration phase of STRK staking's first stage has now begun.
• 10x Research: Upbit's single-day trading volume reached $14 billion over the weekend, comparable to the South 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 significant user participation, rather than just issuing tokens and running exchanges.
• Fundstrat Digital Asset Strategy Chief: The current Kimchi premium in South Korea is about 0%, which may indicate there is still room for BTC to rise
• ai16z: DAO partners have decided to fully separate ai16z and AI Combinator.
• Sui has established a strategic partnership with Franklin Templeton Digital Assets.
• ZKasino misappropriated funds intended for user refunds to leverage long positions on ETH on-chain.
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