The current total market value of cryptocurrency is US$1.455 trillion, with BTC accounting for 49.57%
According to Coingecko data, the current total market value of cryptocurrencies is $1.455 trillion, which has decreased by 0.31% in the past 24 hours. As of now, the total market value of BTC is $722 billion, which accounts for 49.57% of all cryptocurrencies. Meanwhile, the market value of stablecoins is $127 billion, which accounts for 8.72% of the overall cryptocurrency market.
BTC briefly fell below 37,000 USDT
According to the OKX market, Bitcoin briefly fell below the 37,000 USDT mark, reaching a low of 36,630 USDT, with a daily decline of 0.07%, and is currently priced at 37,030 USDT.
Bitcoin Argentina president proposes draft bill “proposing to regulate cryptocurrency markets in a way that preserves decentralization and strengthens public trust”
Ricardo Mihura, the Bitcoin Argentina president, proposed a proposed legal framework for regulating the cryptocurrency market in a way that maintains decentralization and strengthens public trust at the LABITCONF 2023 conference held in Buenos Aires, the capital of Argentina. Bitcoin Argentina had previously denied the need for regulation in the industry. However, Bitcoin advocates now believe that this is not only necessary to protect the blockchain, but also to hold bad actors accountable within the limits of the law.
Mihura said: We have always rejected attempts to regulate the crypto economy, but this time we have set ourselves the goal of making a positive response, with only two objectives: maintaining decentralization, protecting savings and public trust. We cannot turn a blind eye to the dishonesty of those who spread blockchain brands and the number of projects.
Former Bitmex CEO: Bitcoin performed better than bonds during war times
According to former Bitmex CEO Arthur Hayes, in response to US Treasury Secretary Janet Yellen's fiscal policy, it suggests that other central banks will adopt similar quantitative easing strategies. For investors, Hayes recommends avoiding long-term bonds and instead opting for more liquid short-term investments. For example, cryptocurrencies can surpass the growth of central bank balance sheets, and Bitcoin performs better than bonds during times of war.
4,000 BTC transferred from Kraken to Bitfinex
According to WhaleAlert monitoring, at 02:15:36 today Beijing time, 4,000 BTC (148,202,480) were transferred from Kraken to Bitfinex.
Bitcoin open interest exceeds $16 billion
According to data from Coinglass platform, the current open position of Bitcoin futures contracts exceeds $16 billion, reaching $16.716 billion. Among them, CME has the largest proportion, which is $4.198 billion; Binance ranks second, which is $3.895 billion; Bybit ranks third, which is $2.708 billion.
The number of unconfirmed transactions on the entire Bitcoin network is 131,292
According to BTC.com data, the current number of unconfirmed transactions on the Bitcoin network is 131,292, the network hash rate is 455.31EH/s, and the 24-hour transaction rate is 7.06 transactions/s. The current network difficulty is 62.46T, and the next difficulty adjustment is predicted to increase by 2.64% to 64.11T, with 22 hours and 16 minutes left until the adjustment.
CME, Where Institutions Trade Bitcoin Futures, Flipped Binance. Is That as Bullish as It Sounds?
CoinDesk’s Omkar Godbole says rising open interest on the Chicago Mercantile Exchange isn't always the best indicator for bitcoin’s price.
Can Stablecoins Get Past Their Instability?
Moody's Head of DeFi Rajeev Bamra considers the role stablecoins play cryptocurrency markets, and the risks posed by "depegging" events.
Getting Ready for Bitcoin's Catalysts
How exchange-traded funds and futures contracts can reach TradFi and turbocharge the growth of crypto markets.
The giant whale holding a long position of 35 million US dollars added an additional 8 million US dollars of BTC long positions yesterday
According to data tracked by Arkham, a golden financial report shows that a whale with an address starting with 0x160 holds long positions worth more than $35 million on GMX and Kwenta. Yesterday, the whale increased its BTC long position by $8 million using leverage of more than 15 times.
Number of Bitcoin addresses holding more than $1,000 worth hits record high
According to data shared on social media by Bitcoin Magazine, the number of Bitcoin addresses holding more than $1000 in value has reached a historic high.
At the end of this week, the main CME Bitcoin futures BTC contract rose by 7.93%.
On Friday (November 10th) at the end of trading in New York, the CME Bitcoin futures BTC main contract was reported at $37,565, up 2.06% from Thursday's New York close, with a total increase of 7.93% this week, and overall trading in the range of $34,755-$38,380. The CME Ethereum futures DCR main contract was reported at $2,112.50, up 1.73% from Thursday, with a total increase of 9.54% this week, and overall trading in the range of $1,863-$2,154.
Academic Researchers Support Efficient Market Hypothesis for Bitcoin Trading
Academic researchers from the International Hellenic University and Democritus University of Thrace in Greece have published a paper supporting the "efficient market hypothesis" (EMH) for bitcoin trading. The researchers claim that EMH contributed to the development of models capable of outperforming the hodl strategy by nearly 300% in simulated crypto portfolios. EMH suggests that an asset's share price reflects its fair market value and all applicable market information, making it impossible to outperform the market by trying to time it or by predicting winning stocks intuitively. The researchers developed four distinct artificial intelligence models trained with multiple datasets, and the optimal model beat baseline returns by as much as 297%, lending some credence to the idea that EMH can be a useful tool for bitcoin and cryptocurrency traders. However, the study was conducted using historical data and simulated portfolio management, and may not change the minds of those with a strong opinion against the efficacy of EMH.
Bitcoin Annual Settlement Volume Hits $3.1 Trillion, nearly 40% of Mastercard's transaction volume
Fidelity Digital Assets statistics reveal that Bitcoin's settlement volume over the past year exceeded $3.1 trillion, nearly 40% of Mastercard's transaction volume. The report underscores Bitcoin's practical application as a high-value settlement system rather than a tool for everyday small transactions.
Fidelity report: Bitcoin Volatility Index Drops to 0.05, Market Stabilizes
According to a report by Fidelity Digital Assets, while Bitcoin volatility is present, it has been decreasing with wider market adoption. The report's data indicates that Bitcoin's volatility index has declined from 0.20 in 2011 to below 0.05 in 2023, signaling a gradual stabilization of the market.
Unrealized profits from MicroStrategy’s BTC holdings have reached $1 billion
According to saylortracker data, the unrealized profit of Bitcoin held by MicroStrategy has reached 1 billion US dollars. In October, MicroStrategy purchased an additional 155 BTC for $5.3 million, bringing the company's total holdings to 158,400 BTC.
Bitcoin fell back below $36,000, falling more than 6% in 2 hours
According to OKX market data, Bitcoin fell below $36,000 and is now priced at $35,994, with a 2-hour drop of 6.1%.
Dune now supports users to query Zora network data
On November 9th, according to official sources, Dune now supports users to query Zora network data.
In the past 1 hour, the entire network liquidated 61.2925 million US dollars.
According to Coinglass data reported, there were liquidations of $61.2925 million across the entire network in the past hour, including $2.1929 million in long positions and $59.1327 million in short positions.
