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.

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.

According to Whale Alert monitoring, 2608 BTC worth nearly $100 million has been transferred from an unknown wallet to Coinbase.

Coinglass data shows that in the past few hours, Binance perpetual contracts have added about 3,000 BTC open contract positions.

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.

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%.

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.

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 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.

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.