The Bitcoin trading net position change indicator rose to 31,382.43 BTC on Sunday, the highest level since May 11
According to blockchain analysis company Glassnode, the net position change indicator for Bitcoin transactions (which measures the amount of tokens held in wallets for specific dates compared to the same date four weeks ago) rose to 31,382.43 BTC ($1.16 billion) on Sunday, the highest level since May 11. This brings the total balance held by exchanges to 2.35 million BTC. Inflow into exchange wallets is widely seen as representing investors' intentions to liquidate their holdings, potential selling pressure, or deploying tokens as collateral in futures and options markets.
Bitcoin’s daily handling fees exceed those of Ethereum, with a single-day total of approximately 200.6 BTC
According to Tokenview's blockchain data monitoring, Bitcoin's daily transaction fees have surpassed Ethereum's. Currently, the total daily transaction fees for Bitcoin are about 200.6 BTC, with an average daily transaction fee of about 0.00027 BTC, or about $10. The total daily transaction fees for Ethereum are about 494.5 ETH, with an average daily transaction fee of about 0.0028 ETH, or about $5. In the past 24 hours, Bitcoin has had a total of 710,000 transactions, with a blockchain transaction volume of 542.41K BTC, a global hashrate of 469.12 EH/s, and a global difficulty of 64.68T.
Bitcoin, Ethereum active supply both hit record lows
According to data from TheBlock, as reported by Jinse Finance, the active supply of Bitcoin and Ethereum in the past year has reached a historic low. Between March 2017 and 2018, more than 59% of Bitcoin's supply was active. However, in the past year, only 30.12% of Bitcoin's supply changed hands. Ethereum saw more than 86% of its supply change hands between July 2016 and 2017, but last year only 39.15% of its supply changed hands, also setting a historic low. For Bitcoin, the historic low in active supply is usually before the block issuance reward is halved, which is expected to happen in 155 days (April 24, 2020).
JW Weatherman: No demand for BTC jpegs
Software security expert and founder of a startup company, JW Weatherman, stated on social media that why do all JPEG transactions simultaneously impact Bitcoin? It crazily drives up the fees, and if they spread things out over a few weeks, they could save millions of dollars. Because raising fees is the only purpose. This is a covert spam attack. There is no demand for BTC JPEG.
1052 BTC transferred from Bitfinex
According to Whale Alert monitoring, 1,052 BTC (approximately $39,303,560) was transferred from Bitfinex to an unknown wallet.
So far this month, average Bitcoin transaction fees have risen more than 1,000%, reaching a peak of $18.67
According to CryptoFees data, from November 16th to 18th, the daily average fee for Bitcoin was $10.65 million, exceeding Ethereum's average fee of $6.9 million during the same period. According to BitInfoCharts data, since the beginning of this month, the average transaction fee for Bitcoin has significantly increased, rising by more than 1,000%, and reaching a peak of $18.67 on November 16th. This surge reflects the market's optimism about the possible approval of a Bitcoin exchange-traded fund (ETF) in the United States. (Beincrypto)
Bitcoin supporter Javier Milei finally wins Argentina’s presidential election
On November 20th, Bitcoin supporter Javier Milei finally won the Argentine presidential election. It is reported that Javier Milei has made relevant statements in public interviews many times. One of his important goals after being elected president is to prevent the inflation of the Argentine peso and the continuous reduction of people's wealth. Milei is trying to abolish the peso and the central bank and use the US dollar as the legal currency.
Bitcoin’s average transaction fees are up more than 1,000% since the beginning of the month
CryptoFees data shows that from November 16th to 18th, the average daily fee for Bitcoin was $10.65 million, exceeding Ethereum's average fee of $6.9 million during the same period. According to BitInfoCharts data, since the beginning of this month, Bitcoin's average transaction fee has significantly increased, rising by more than 1,000% and reaching a peak of $18.67 on November 16th. This surge reflects the market's optimistic sentiment towards the approval of the US spot Bitcoin exchange-traded fund (ETF).
Bitcoin Magazine: Bitcoin-friendly candidate Javier Milei has 63% chance of winning Argentina’s presidential election
Bitcoin Magazine posted on social media that election betting odds show that Bitcoin-friendly candidate Javier Milei has a 63% chance of winning the Argentine presidential election.
14 years ago today “Satoshi Nakamoto” first registered on BitcoinTalk
It was revealed by the official Binance Twitter account that "Satoshi Nakamoto" first registered on BitcoinTalk on November 19, 2009, 14 years ago this year. The information shows that "Satoshi Nakamoto" held the title of founder and was last active on December 13, 2010. In a post on July 28, 2010, "Satoshi Nakamoto" said a sentence that has since been widely circulated: "If you don't believe me or don't get it, I don't have time to try to convince you, sorry."
By the end of December, most call options bets on Bitcoin on Deribit had reached $40,000
A spokesperson for the cryptocurrency options trading platform Deribit stated that earlier this week, the notional value of outstanding Bitcoin options contracts on the platform reached a historical record of approximately $14.9 billion. This number surpassed the $14.4 billion achieved before Bitcoin hit a high of nearly $69,000 in October 2021. Outstanding contracts refer to unsettled and open contracts.<br>Deribit data shows that as of the end of December, most bullish options bets on Bitcoin had reached a price of $40,000, and even $45,000. Given that traders selling bullish options are willing to accept bets from the other side, this indicates that $40,000 may become a key testing area for Bitcoin's rebound.<br>In addition, Coinglass data shows that the outstanding Bitcoin futures contracts on the Chicago Mercantile Exchange (CME) reached $4 billion on Friday, while Binance was at $3.8 billion.
Fees paid on Bitcoin blockchain hit $11.6 million
According to CryptoFees statistics, on November 16th, the fees for Bitcoin blockchain payments reached $11.6 million. As of the time of writing, YCharts data shows that the average transaction fee is $18.69, an increase of 113% from the previous day and an increase of 746% from the same period last year.
Bitcoin network transaction fees high priority increase to 307 sat/vB
According to data from mempool.space, the high-priority transaction fee on the Bitcoin network has increased to 307 sat/vB; the medium-priority has increased to 283 sat/vB; and the low-priority has increased to 259 sat/vB.
BTC breaks through $36,500
According to market data, BTC has broken through $36,500 and is currently trading at $36,515, with a daily increase of 0.38%. The market is volatile, so please be cautious and manage your risks.
The accumulated fee income of Ordinals inscription reaches 2,687.42 BTC
Golden Finance reported that the latest data from Dune shows that the cumulative revenue from the inscription casting of the Bitcoin NFT protocol Ordinals has reached 2,687.42 BTC, equivalent to approximately 96.92 million US dollars. The current total number of inscriptions cast is 41,346,774.
Bitcoin (BTC) Overtakes Ethereum (ETH) in Daily Transaction Fees for the First Time in Three Years
Bitcoin has surpassed Ethereum in daily cryptocurrency transaction fees for the first time in three years, with daily transaction fees reaching $11.63 million compared to Ethereum's $8.44 million. Ethereum's versatility in supporting various Decentralized Applications (DApps) and smart contracts had previously made it the preferred choice for users engaging in DeFi and NFTs. However, recent developments have seen Bitcoin experience a surge in average transaction fees, reaching $18.69 per transaction on Nov. 16, and outperforming Ethereum in NFT sales. This surge in fees is seen as a positive development for Bitcoin miners, providing a boost to their revenue streams and ensuring the continued viability of the mining ecosystem.
BTC falls below $36,000
The market shows BTC has fallen below 36,000 US dollars, currently reporting 35,892.4 US dollars, with a daily decline of 2.34%. The market is volatile, so please be prepared for risk control.
80% of all BTC held by Bitcoin Holders are in profit
CryptoChan cited data from IntoTheBlock on social media, stating that the black line in the chart represents the BTC price, and the blue line represents the percentage of BTC held by Bitcoin holders (holding BTC on the chain for more than 1 year) that are currently in a profitable state. During the 2016 BTC bull market peak, this on-chain indicator reached 93%. During the 2019 BTC bull market peak, it reached 90%. Currently, the on-chain indicator value is 80%.
The seven-day average funding rate of the Bitcoin perpetual contract is approximately 0.02%, close to the Q4 level of 2021
According to CryptoQuant data, as of November 15th, the 7-day average funding rate for Bitcoin perpetual contracts was about 0.02%, reaching a nearly two-year high and approaching the level of the last quarter of 2021. In addition, Deribit data shows that the majority of options bets are bullish on Bitcoin, with expectations that Bitcoin will reach $40,000 or even $45,000, indicating that $40,000 may become a key testing area for Bitcoin's rebound. (Bloomberg)
The seven-day average funding rate of the Bitcoin perpetual contract is approximately 0.02%, reaching a high in the past two years.
On November 17th, according to CryptoQuant data, the average funding rate for Bitcoin perpetual contracts was about 0.02%, reaching a nearly two-year high and approaching the level of the last quarter of 2021 when Bitcoin was rising towards its peak. In addition, Deribit data shows that by the end of December, there will be a large number of bullish options bets on Bitcoin reaching 40,000 to 45,000 US dollars.
