Trust Wallet: Encountered a BTC node problem and is paying close attention to the development of the situation
Trust Wallet has posted on X platform that it has encountered BTC node issues. The reason is that the increase in transaction volume for each block in the Bitcoin network has put pressure on the nodes, resulting in instability among providers. The platform team is closely monitoring the situation, and users may experience lost transaction history on the Bitcoin blockchain, lasting up to 6 hours, as well as failed transactions. The team is working hard to resolve this issue.
Bitcoin retreats from resistance as US GDP beats expectations
Bitcoin retreated from resistance levels following the release of better-than-expected US GDP figures on November 29. The retracement was in line with previous short-term price movements. The GDP data, which showed Q3 growth of 5.2%, raised concerns about how the Federal Reserve would handle policy ahead of an interest rates decision in mid-December. Analysts suggested that Bitcoin was likely to continue consolidating, with some eyeing potential downside opportunities and others predicting a fresh bout of upside volatility.
Mystery Wallet Owner Buys $424 Million Worth of Bitcoin, Speculation Arises About Possible ETF Connection
According to Bitinfocharts, the owner of a mystery wallet has purchased 11,268 bitcoin (BTC) worth $424 million since November 10, making them the 74th largest holder of BTC. The purchases were made at prices ranging from $36,000 to $38,000, resulting in unrealized profits of around $9.8 million at bitcoin's current price. There is speculation that the wallet may be linked to a U.S. asset management company preparing to launch a spot bitcoin ETF, which would require holding and custody of a large amount of bitcoin. Approval of a spot ETF could create trillions in value, according to VanEck advisor Gabor Gurbacs.
Nearly $100 Million in BTC Moved to Coinbase
According to Whale Alert monitoring, 2608 BTC worth nearly $100 million has been transferred from an unknown wallet to Coinbase.
Binance perpetual futures added approximately 3,000 BTC open interest within hours
Coinglass data shows that in the past few hours, Binance perpetual contracts have added about 3,000 BTC open contract positions.
Addresses starting with bc1qc have accumulated 1,386 BTC since October 31
Data shows that addresses starting with bc1qc have rapidly accumulated a large amount of Bitcoin in a short period of time. The wallet initially purchased 109.81 BTC on October 31, 2023, and then within ten days, the whale added 736.69 BTC. By mid-November, the wallet had entered the top 500 and ranked 492nd. On November 28th, the whale added another 163.67 BTC and 376.28 BTC. As of now, the whale's total holdings are approximately 10,393.22 BTC, worth about $397 million, and the whale is currently ranked 72nd globally.
Bitcoin breaks through 38,000 USDT, up 1.37% in 24 hours
OKX market shows that Bitcoin has broken through 38,000 USDT and is currently priced at 38,032 USDT, with a 24-hour increase of 1.37%.
Chairman of the Monetary Authority of Singapore: Bitcoin has no underlying assets and cannot be used for cross-border payments
Ravi Menon, the managing director of the Monetary Authority of Singapore, stated that the future currency system will include central bank digital currencies, tokenized bank liabilities, and "well-regulated" stablecoins. Regulatory agencies are turning towards establishing a stablecoin system that is fully supported by high-quality government securities or cash. Regarding stablecoins and virtual currency assets currently on the market, Menon pointed out that stablecoins issued by non-financial institutions lack proper regulation for capital, liquidity, and reserves. When market conditions fluctuate, they cannot demonstrate their "stability" aspect. Therefore, when used for payment purposes, strict regulation of stablecoins is necessary. Bitcoin, on the other hand, lacks underlying assets and "no one uses it for savings, only hoping to make a quick buck," so it cannot be used for cross-border payments. Menon also mentioned that the Monetary Authority of Singapore and other regions are jointly developing various central bank digital currency cross-border networks (mBridge). If they can cooperate with other regions that are researching related applications and technologies such as tokenized deposits in the future, it will be possible to connect the flow of funds from different regions and solve the problem of long cross-border payment times and high costs.
Decentralized Bitcoin mining project Mummolin raises $6.2 million in seed funding, led by Jack Dorsey
Mummolin, Inc. announced that it has raised $6.2 million in seed funding, with strategic partners such as Jack Dorsey, Accomplice, Barefoot Bitcoin Fund, MoonKite, NewLayer Capital, and Bitcoin Opportunity Fund leading the investment. The seed funding will support the launch of the decentralized Bitcoin mining project OCEAN.
SEC delays resolution on Franklin Templeton’s spot Bitcoin ETF
SEC has delayed its decision on the Franklin Templeton Bitcoin ETF, with the new deadline set for January 1, 2024. Bloomberg analyst James Seyffart noted that Franklin is the only issuer that has not submitted an updated S-1.
COP28 Conference on Climate Change Faces Challenges and Criticism, but Bitcoin Offers Potential for Progress
The COP28 conference, which seeks to tackle global climate change, is commencing this week in the UAE, a significant oil producer. Despite the presence of high-profile attendees such as Pope Francis, the event is expected to be ineffective, as previous COP conferences have failed to produce legally binding targets for reducing greenhouse gas emissions. The conference chair, Sultan Ahmed Al-Jaber, is also the CEO of ADNOC, the state oil company that has been expanding its fossil fuel interests. The conference highlights the difficulties of aligning global incentives to fund the transition to renewable energy while reducing fossil fuel production and use.
Standard Chartered Bank: Bitcoin is still expected to reach $100,000 by the end of 2024
Standard Chartered Bank has reiterated its prediction from April that Bitcoin (BTC) will reach $100,000 by the end of 2024. The bank's Geoff Kendrick and team wrote that the next catalyst will be the approval of several US spot Bitcoin ETFs, which they expect "may come sooner than expected." The report states: "In short, everything is going as expected. Bitcoin's dominant position remains intact - its share of the overall market value of digital assets has increased from 45% in April to 50%. We now expect prices to rise more than before, especially with the launch of US spot ETFs earlier than expected, before the halving. This suggests that BTC may reach $100,000 by the end of 2024."
The first Bitcoin halving occurred 11 years ago today
According to CoinGecko's post on X platform, the first Bitcoin halving occurred 11 years ago today. Subsequent halvings occurred in 2016 and 2020, with the next halving expected in April 2024.
BRC20 token MKBI has been opened for public minting
On November 28th, the public minting of BRC20 token MKBI has started, and the MKBI.org minting plan is progressing rapidly, with 329 copies minted. MKBI is a Bitcoin ecological cross-chain platform, with BTC as its reward.
798 BTC transferred from Binance
According to Whale Alert monitoring, 798 BTC (about $29.66 million) was transferred from Binance to an unknown wallet.
LD Capital: The private use rate of Bitcoin in El Salvador is low, with only 1% of remittances in the past six months being in Bitcoin.
LD Capital researcher @kanazawa0x0 stated on X platform that the civilian usage rate of Bitcoin in El Salvador is low, with only 1% of remittances in the past six months being made in Bitcoin, but it has driven the rebound of El Salvador's national debt. Bitcoin has not become a trend as a currency, but has become a reserve asset that outperforms the US dollar.
LinChen: The futures premium of BTC and ETH on CME reached 1.5%, close to the bull market level in March 2021
Lin Chen, the head of Deribit Asia-Pacific business, tweeted that the futures premium for BTC and ETH on CME has reached about 1.5%, which is close to the market situation during the bull market period in March 2021. The market is voting with its feet to show how certain it is about the approval of spot ETFs.
Bitcoin user claims he was victim of hack that led to record $3 million in transaction fees
A Bitcoin user claimed that hackers stole more than 139 BTC from them, which is related to the record-breaking transaction fee of 83.65 BTC ($3.1 million) paid last week. The same user signed a message that seems to indicate they have the keys to conduct transactions, but it could also be signed by the attacker if the wallet was compromised.
BTC fell below 37,000 USDT, down 1.49% in 24 hours
According to the OKX market, BTC has fallen below 37,000 USDT, with a current price of 36,986 USDT, a 24-hour decline of 1.49%.
