The number of unconfirmed transactions on the entire Bitcoin network is 123,330
According to BTC.com, there are currently 123,330 unconfirmed transactions on the Bitcoin network, with a total network hash rate of 472.96 EH/s and a 24-hour transaction rate of 8.30 transactions/s.
7523.60 BTC have flowed into exchange wallets in the past 7 days
Data shows that 161.74 BTC have flowed into exchange wallets in the past 24 hours, 7523.60 BTC have flowed into exchange wallets in the past 7 days, and 4145.07 BTC have flowed into exchange wallets in the past 30 days. As of the time of publication, the total balance of exchange wallets is 1,834,433.38 BTC.
Pantera Capital founder: Bitcoin will outperform stocks, real estate and bonds
Dan Morehead, founder of Pantera Capital, said that the performance of Bitcoin will outperform stocks, real estate, and bonds. (Bitcoin News)
Bitcoin drops below $35,000
According to OKX market data on November 5th, Bitcoin fell below $35,000 and is now priced at $34,972.97, with a 24-hour decrease of 0.80%.
Michael Saylor: Bitcoin offers businesses an innovative strategy to preserve capital and create shareholder value
MicroStrategy CEO Michael Saylor stated that Bitcoin provides an innovative strategy for enterprises to preserve capital and create shareholder value. He pointed out that companies can use Bitcoin to leverage their balance sheets and break free from the destructive cycle of expensive acquisitions, buybacks, dividends, and debt to achieve this goal.
Michael Saylor stated that a major dilemma in today's market is the existence of the "Big Seven." According to him, these seven companies are creating all shareholder returns, while the other seven thousand companies are struggling to create shareholder value.
MicroStrategy's secret is that they are leveraging their balance sheet and profit and loss (PnL). He pointed out that his company has over $5 billion in assets on its balance sheet, and Bitcoin is growing at three to four times the cost of capital.
The ETH/BTC exchange rate briefly rebounded to above 0.054
On November 5th, according to market data, the ETH/BTC exchange rate briefly rebounded above 0.054 and is currently trading at 0.05396, with a 24-hour increase of 2.00% and a 7-day increase of 3.04%.
The market value of BTC has increased by 110% this year, and BTC and ETH have significantly outperformed traditional assets such as gold.
According to Glassnode's latest on-chain weekly report, the digital asset market has achieved impressive returns in 2023, with the performance of BTC and ETH significantly outperforming traditional assets. Their performance has exceeded that of gold by 93% and 39%, respectively, at their highest points. The market correction of these two major digital assets is significantly smaller than in previous cycles, indicating investor support and positive capital inflows. The Altseason indicator shows the first significant increase against the US dollar since the high point of this cycle. However, it is worth noting that this occurred against the backdrop of Bitcoin's continued dominance, which has risen from a cyclical low of 38% at the end of 2022. Bitcoin's market value has grown 110% so far this year, while the market value of altcoins has grown 37%.
Vanguard Group CEO: Will not join the competition for Bitcoin ETF
Tim Buckley, Chairman and CEO of asset management company Vanguard Group, stated that the company will not join the competition for Bitcoin ETFs, as Vanguard claims to focus on asset classes with intrinsic value and the ability to generate cash flow, such as stocks and bonds.
Barefoot Mining CEO: After Bitcoin halving, daily output will actually drop to 52.5% of the current level
On November 4th, Barefoot Mining CEO Bob Burnett clarified a common misunderstanding about the Bitcoin production rate in a post on X platform. Bob Burnett stated that the actual average block time is shorter than the widely assumed 10 minutes, resulting in a higher block output per day than expected. The block output should be 146.7 instead of 144. Therefore, due to block rewards and transaction fees, the daily Bitcoin production is currently higher than the expected 900 coins, reaching 966 coins. Burnett stated that with the upcoming halving event next year, although the block reward will be halved, the increase in transaction fees means that the new daily production will only decrease to 507.6 Bitcoin, instead of the expected 450 coins. This means a decrease to 52.5% of the current production, rather than the expected 50%. Although the difference in data may seem insignificant, these details are very important for miners and traders as they will affect income forecasts and market liquidity.
IntoTheBlock: Recent price increases have been driven by spot trading volumes
The ratio of open interest to market capitalization (OI/MC) for Bitcoin perpetual contracts is still close to its annual low. This indicates that the recent price increase is driven by spot trading volume and suggests that there is more organic demand rather than leverage-driven effects from derivatives.
In October, the income of Bitcoin miners and Ethereum staking income generally increased, and the amount of ETH destroyed reached more than 41,000.
In October, Bitcoin miner income and Ethereum staking income showed a general increase, with Bitcoin miner income rising to $885 million, an increase of 17.4%, and Ethereum staking income increasing by 8.6% to a range of $125 million. In addition, in October, the Ethereum network destroyed 41,348 ETH, worth about $70.3 million, and since the implementation of EIP-1559 in early August 2021, Ethereum has destroyed about 3.67 million ETH, worth about $10.31 billion.
The number of Bitcoin nodes is approaching 17,000
The number of Bitcoin nodes is rapidly increasing and currently stands at 16,128, approaching the 17 million mark. In April of this year, the number of Bitcoin nodes reached a historical high of 17,470 before declining, but it has gradually rebounded. Over the past two years, the number of Bitcoin nodes has increased by about 70%. During the bull market of 2021, the number of nodes remained around 10,000.
What Happens to Bitcoin Price if Spot ETF Isn’t Approved?
Bitcoin's recent strong performance at least in part is due to optimism regarding the imminent launch of multiple spot ETF products.
4641.54 BTC flowed into exchange wallets in the past 24 hours
Data shows that within the past 24 hours, 4641.54 BTC have flowed into exchange wallets, within the past 7 days, 8325.89 BTC have flowed into exchange wallets, and within the past 30 days, 3948.46 BTC have flowed into exchange wallets. As of the time of writing, the total balance of exchange wallets is 1,834,994.95 BTC.
CoW Swap team proposes increased fees during six-month test
The core development team of CoW Swap has released a proposal draft that will add six months of fees to test which model is best suited for long-term adoption.
The number of unconfirmed transactions on the entire Bitcoin network is 161,098
According to BTC.com data, the current number of unconfirmed transactions on the Bitcoin network is 161,098. The network hash rate is 460.72 EH/s, and the 24-hour transaction rate is 7.35 transactions per second. The current network difficulty is 62.46 T, and the next difficulty adjustment is predicted to increase by 1.91% to 63.66 T, which is 7 days and 22 hours away.
BTC breaks through $35,000
Market shows BTC has surpassed $35,000 and is currently trading at $35,019.9. The intraday increase has reached 1.34%, and the market is experiencing significant fluctuations. Please be prepared for risk management.
This morning, an unknown wallet transferred 10,000 BTC to Binance, worth over US$340 million.
According to Whale Alert, a chain data tracking service, an unknown wallet starting with "36zSLd" transferred 10,000 BTC worth approximately $345,041,344 to Binance Exchange at around 4:15 am on November 4th.
A BTC whale trader’s address transferred 7,000 BTC to Bitfinex on Thursday
According to BitInfoCharts data, a BTC whale trader transferred 7,000 BTC worth about $244 million to Bitfinex on Thursday evening. It is worth noting that the address had accumulated 46,500 BTC between November 2022 and January 2023 (becoming the world's 14th largest BTC holding address), with an average price per coin of less than $20,000. In late March and early April of this year, a total of 36,500 BTC was transferred to Bitfinex when the price was roughly near the year's high of around $30,000. Since then, the address has added another 2,000 BTC when Bitcoin fell to $26,000 in May. (CoinDesk)
