Crypto Today: BTC at $85K, Solana hits $100B valuation, FTX sues CZ, Blackrock sets new record

출처 Fxstreet


On Monday, Solana’s market capitalization crossed the $100 billion milestone as the steady memecoin demand drove the native SOL coin price above $220 for the first time since April 2024. 
BlackRock's iShares Bitcoin Trust (IBIT) surpassed the iShares Gold Trust (IAU) in assets under management.

Bitcoin price updates

  • Bitcoin price surpassed $85,000 on Monday as it registered its second-largest gain of 5.91% since the US election.
  • The BTC rally on Monday was driven by Microstrategy’s latest inflow of $2.03 billion, the first tranche of its $42 billion acquisition plan.
  • In the derivatives markets Bitcoin bulls have mounted another $1.75 billion worth of long positions against $300 million active short positions. 

Bitcoin Liquidation Map, November 11 2024 | Source: Coinglass

Bitcoin long positions outpaced active short contracts by nearly 82%, signaling overwhelming expectations of further upside despite setting new all-time highs in each of the last six trading days.   


Solana, Dogecoin, Ethereum market updates 


Bullish tailwinds from the US Federal Reserve’s 25-basis-point interest rate cut on November 7 has triggered renewed corporate demand, driving the crypto market rally into its second week. 
On Monday, Solana’s market capitalization crossed the $100 billion milestone as the steady memecoin demand drove the native SOL coin price above $220 for the first time since April 2024. 

Solana Market Cap Crosses $100B | November 11 2024 | Source: CoinmarketCap


Following the latest rally, Solana has now surpassed XRP’s market valuation, leapfrogging the Ripple-backed coin to become the third-largest cryptocurrency. 

 

  • Dogecoin price advanced above $0.30 on Monday, bringing its 7-day time frame gains above the 100% mark. Likewise, Tesla (TSLA) also hit a 3-year peak of $340 per share, as assets linked to Elon Musk enter a bullish breakout following Trump’s victory at the November 5 poll. 


Chart of the day: Blackrock’s IBIT Bitcoin ETF has surpassed its Gold ETF 


BlackRock's iShares Bitcoin Trust (IBIT) surpassed the iShares Gold Trust (IAU) in assets under management. According to Blackrock’s official data chart depicted below, IBIT now holds approximately $33.1 billion, edging out IAU, which currently manages about $32.9 billion.

iShares Bitcoin Trust ETF (IBIT) trading data | Source: Blackrock.com 

 

iShares Gold Trust ETF (IAU) trading data | Source: Blackrock.com


Launched in January 2024, IBIT rapidly attracted $10 billion in AUM within just two months — a feat that took the first Gold ETF nearly two years to reach. 


Strong demand from both institutional traders after Trump’s win, alongside the US Fed's 25 bps rate cut are two major catalysts that have fueled interest in Blackrock’s IBIT ETF fund in the past week. 


Blackrock’s BTC ETF surpassing its Gold counterpart affirms the narrative that Bitcoin now ranks higher on corporate investors' scale of preference.

This could trigger a major paradigm shift if the Trump administration yields a favorable regulatory landscape for cryptocurrencies in 2025, as widely anticipated. 

Market updates 

  • Amid curtailed inflation pressure, the Bank of England and US Federal Reserve both announced 25 bps rate cuts, which has further intensified the post-election buying pressure across risk asset markets this week. 
  • Defunct cryptocurrency exchange FTX is suing Binance and its former CEO Changpeng Zhao, alleging the fraudulent transfer of $1.8 billion by FTX management to Binance and its executives.

FTX lawsuit filing against Binance and Changpeng Zhao | Source: US Bankruptcy court, district of Delaware.


"By this lawsuit, the Plaintiffs seek to recover, for the benefit of FTX’s creditors, at least $1.76 billion that was fraudulently transferred to Binance and its executives at the FTX creditors’ expense, as well as compensatory and punitive damages to be determined at trial,"

- FTX estate administrator, November 10, 2024. 


At press time on November 11, CZ was yet to issue a public response on the lawsuit. However, a Binance spokesperson has labeled it “meritless” vowing that the exchange will vigorously defend the case in court, per Reuters report.

 

  • Speaking to Bloomberg on Monday November 11, Metafide CEO, Frank Spicer stated that despite hitting new all time-highs in each of the last four days, the Bitcoin rally still has more upside potential. 

“I would say that the (Bitcoin) markets still have a (long) way to go because what you are seeing right now is primarily institutional driven buying that has been driving up the buying pressure, but retail hasn't come back in.
If you look at the size of the buyorders that are coming in, they are all fairly large.You're not seeing drips and drabs. 
you would and you're not seeing your Uber driver checking their portfolio as you're driving around now.
When that returns, I think that the market can go considerably higher.”

- Metafide CEO, Frank Spicer.

면책 조항: 정보 제공 목적으로만 사용됩니다. 과거 성과가 미래 결과를 보장하지 않습니다.
placeholder
상위 3개 급등주 VIRTUAL, EGLD, TRUMP: 8억 6,600만 달러 청산 속 알트코인 급등비트코인(BTC)이 주도한 암호화폐 급등으로 인해 트레이더들이 손실을 계산하는 가운데, 지난 24시간 동안 청산 규모가 금요일에 무려 8억 6,600만 달러에 달했다.
저자  FXStreet
14 시간 전
비트코인(BTC)이 주도한 암호화폐 급등으로 인해 트레이더들이 손실을 계산하는 가운데, 지난 24시간 동안 청산 규모가 금요일에 무려 8억 6,600만 달러에 달했다.
placeholder
유니스왑 가격 전망: 매수세 유입으로 UNI 강세 전환 신호 포착유니스왑(UNI) 가격은 전날 26% 급등한 후 금요일에 약 6.18달러 수준에서 안정세를 보였다. UNI의 총 예치 자산(TVL), 미결제 약정(OI), 토큰 거래량 등 온체인 지표는 강세 전망을 더욱 뒷받침하고 있다.
저자  FXStreet
14 시간 전
유니스왑(UNI) 가격은 전날 26% 급등한 후 금요일에 약 6.18달러 수준에서 안정세를 보였다. UNI의 총 예치 자산(TVL), 미결제 약정(OI), 토큰 거래량 등 온체인 지표는 강세 전망을 더욱 뒷받침하고 있다.
placeholder
은 가격 전망: XAG/USD, 32달러 중반대에서 완만한 긍정적 움직임 보이며 거래 중은(XAG/USD)은 금요일 아시아 세션에서 32.20달러 부근에서 저가 매수세를 유도하며, 지난 한 시간 동안 일일 최고치를 기록했다.
저자  FXStreet
15 시간 전
은(XAG/USD)은 금요일 아시아 세션에서 32.20달러 부근에서 저가 매수세를 유도하며, 지난 한 시간 동안 일일 최고치를 기록했다.
placeholder
리플 가격 전망: SEC와 5천만 달러 합의 후 XRP 3달러 돌파 임박리플(XRP) 가격은 금요일 작성 시점 기준으로 2.31달러 부근에서 상승폭을 유지하며 약간 하락한 상태다. 목요일 리플과 미국 증권거래위원회(SEC)가 공동으로 제출한 문서에 따르면, 양측은 사법 승인 대기 중인 합의에 도달한 것으로 나타났다.
저자  FXStreet
15 시간 전
리플(XRP) 가격은 금요일 작성 시점 기준으로 2.31달러 부근에서 상승폭을 유지하며 약간 하락한 상태다. 목요일 리플과 미국 증권거래위원회(SEC)가 공동으로 제출한 문서에 따르면, 양측은 사법 승인 대기 중인 합의에 도달한 것으로 나타났다.
placeholder
비트코인, 이더리움, 리플 가격 전망 Top 3: BTC, ETH, XRP 강세 주도하며 급등비트코인(BTC), 이더리움(ETH), 리플(XRP)이 이번 주 강세 모멘텀 확산에 힘입어 급등하고 있다.
저자  FXStreet
15 시간 전
비트코인(BTC), 이더리움(ETH), 리플(XRP)이 이번 주 강세 모멘텀 확산에 힘입어 급등하고 있다.
goTop
quote