Author: Joy, PANews

After three years, with the help of Bitcoin reaching new highs, the total market capitalization of global cryptocurrencies reached $3.11 trillion on November 12, up 6.8% in the past 24 hours, surpassing the previous high of $3.069 trillion on November 9, 2021. Currently, Bitcoin's market cap accounts for 56.3%, while Ethereum accounts for 13%.

"Coin-Eating Beast" MicroStrategy Buys $2 Billion in BTC

On the evening of November 11, after the publicly listed company MicroStrategy announced its purchase of Bitcoin, Bitcoin began to rise rapidly, climbing from $82,000 to a new high of $89,000 by 7 AM this morning.

MicroStrategy's purchase announcement stated that it acquired 27,200 Bitcoins between October 31 and November 10, at a cost of approximately $2.03 billion, with an average purchase price of about $74,463 per coin. The funds for this purchase came from the company's ATM stock sale activities. Currently, MicroStrategy's total holdings have reached 279,420 Bitcoins, with a total acquisition cost of about $11.9 billion and an average purchase price of approximately $42,692 per coin. Based on the Bitcoin price of $89,000, MicroStrategy's Bitcoin holdings have an estimated unrealized gain of about $12.9 billion.

MicroStrategy's stock price also hit a new high of $340 at the close on November 11, rising 25.73% in a single day. Bloomberg senior ETF analyst Eric Balchunas posted on X that MicroStrategy's single-day trading volume reached a record $12 billion, six times that of JPMorgan or General Electric.

With the rise of Bitcoin, the cryptocurrency market is experiencing a surge, with the current global cryptocurrency market cap around $3.11 trillion, up 6.8% in the past 24 hours, surpassing the previous high of $3.069 trillion on November 9, 2021. Currently, Bitcoin's market cap accounts for 56.3%, while Ethereum accounts for 13%, with a cryptocurrency trading volume of approximately $355.68 billion in the past 24 hours.

Tether Accelerates Printing, Analysts Remain Bullish

Amid the market frenzy, the "Federal Reserve" of the crypto world has also turned on the printing press.

Around 1:07 AM Beijing time, Tether Treasury minted an additional 2 billion USDT on Ethereum. Tether CEO Paolo Ardoino stated that this is an authorized but unissued transaction, meaning it will be used as inventory for the next issuance request and on-chain exchanges. According to EMC Labs, stablecoins have increased by $4.776 billion last week.

Bernstein analysts released a bullish report after the U.S. elections, encouraging investors to increase their exposure to the crypto industry as soon as possible. Bitcoin broke $80,000 and set a new historical high after Trump's victory. Bernstein's research director Gautam Chhugani stated that the Trump administration is expected to adopt pro-crypto policies or appoint a new SEC chairman, which could bring a more favorable regulatory environment for the industry.

The report suggests that investors pay attention to spot Bitcoin and Ethereum ETFs, publicly listed Bitcoin mining companies, companies holding Bitcoin, and crypto trading platforms (such as Robinhood and Coinbase). Additionally, Bernstein expects Bitcoin to reach $200,000 by the end of 2025 and recommends investors buy major digital assets like BTC, ETH, and SOL.

Geoff Kendrick, head of foreign exchange and digital asset research at Standard Chartered, also predicts that Bitcoin will continue to rise until the end of this year, "easily reaching" $100,000 before certain Bitcoin options expire on December 27. It is reported that this analyst successfully predicted Bitcoin reaching $80,000 before the U.S. presidential election.

Kendrick stated in an email last Sunday: "I predict that Bitcoin will reach $125,000 by the end of the year, which is the next level, although I note that many Trump-related trades peaked around the inauguration on January 20… Therefore, if Bitcoin does not reach $125,000 by December 31, I believe it will reach that level by January 20."

Kendrick further predicts that given the recent gains in Ethereum and Solana, the rise in Bitcoin prices may "benefit all investors," with some tokens potentially outperforming Bitcoin. Kendrick wrote: "It seems inevitable that SOL will reach a new historical high (the historical high of $260 was set in November 2021) by the end of this year. ETH reaching a new historical high (the historical high of $4,866 was set in November 2021) may have to wait until around the inauguration, but overall, we believe these assets will continue to rise, with SOL potentially performing the best.

The crypto fund management firm EMC Labs stated in this week's "EMC Bitcoin Weekly Review" that with the U.S. elections settled, the U.S. stock market has seen a significant rise, as traders bet on the certainty of increased corporate profits in a low-tax, low-interest-rate environment, and the U.S. stock market is expected to continue to climb in the medium to long term. In this context, BTC ETFs saw inflows of $1.728 billion in a week, while late-arriving stablecoin channels saw inflows of $4.776 billion, totaling $6.504 billion, marking the largest single-week inflow since 2024. Last week, BTC broke through the new high consolidation zone of $73,000 and the upward trend line resistance of $75,000, returning to the upward trend line after eight months. Driven by strong liquidity, BTC is expected to continue to rise, and Altcoins will also experience a broad rally.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。