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%.
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.
More than $1.179 billion in BTC and $400 million in ETH options contracts set to expire on Friday
According to Deribit data, nominal value of more than $1.179 billion BTC options contracts and more than $400 million ETH options contracts will expire and be settled on Friday (November 10th). The maximum pain point price for BTC is $34,000; the maximum pain point price for ETH is $1,700.
Bitcoin network transaction fees temporarily rise to 147 sats/byte
MCT data shows that the regular transaction fee of the Bitcoin network has temporarily risen to 147 sats/byte.
