1. Market Observation
Keywords: BTC, IMX, ZKasino
BTC ended last week with a bullish candle, closing at a historic high of $97,434.73, with a year-to-date increase of 130.53%. Institutional funds continue to be optimistic about the Bitcoin market. The head of digital asset strategy at Fundstrat pointed out that the Korean kimchi premium has dropped to 0%, which may indicate that BTC still has room for growth.
ETH is currently priced at $3,339.69, with a year-to-date increase of 46.38%, showing relatively moderate performance compared to BTC. In terms of the ecosystem, Vitalik emphasized that the crypto industry needs to build more practical applications rather than just focusing on issuing tokens and trading.
The cryptocurrency ecosystem continues to expand, with Hong Kong Zhong An Bank launching virtual currency trading services, indicating an increased acceptance of crypto assets by traditional financial institutions. Meanwhile, tokens such as IMX, ADA, and APEX are about to experience significant unlocks, with IMX's unlock scale being approximately $40.5 million, and investors should be cautious of the potential selling pressure from these unlocks.
On the macro front, U.S. stocks continue to strengthen, with the S&P 500 and Nasdaq rising by 25.15% and 26.60%, respectively. Next week, the market will welcome the release of important data such as the core PCE price index and GDP, which may affect market expectations for the Federal Reserve's monetary policy and, in turn, influence the cryptocurrency market's trends.
2. Key Data (As of November 25, 10:03 AM Hong Kong Time)
• S&P 500: 5,969.34 points (Year-to-date +25.15%)
• Nasdaq: 19,003.65 points (Year-to-date +26.60%)
• 10-Year U.S. Treasury Yield: 4.355% (Year-to-date -3.64 basis points)
• U.S. Dollar Index: 106.561 (Year-to-date +5.00%)
• Bitcoin: $97,434.73 (Year-to-date +130.53%)
• Ethereum: $3,339.69 (Year-to-date +46.38%)
3. ETF Flows (November 22, Eastern Time)
• Bitcoin ETF: Net inflow of $490.3 million
• Ethereum ETF: Net inflow of $91.3 million
4. Important Dates
Released Data:
• November 21, 9:30 PM: Initial Jobless Claims
Actual: 213,000, Previous: 219,000, Expected: 222,000
• November 22, 11:00 PM: Michigan Consumer Sentiment Index Final Value
Actual: 71.8, Previous: 70.5, Expected: 73.7
Upcoming (November 27, 9:30 PM):
• Core PCE Price Index Month-on-Month (Previous: 0.3%, Expected: 0.3%)
• GDP Quarterly Growth Rate (Previous: 3.0%, Expected: 2.8%)
• Personal Income (Previous: 0.3%, Expected: 0.3%)
• Personal Spending (Previous: 0.5%, Expected: 0.4%)
5. Hot News (November 22 to November 25)
• Hong Kong Zhong An Bank launches virtual currency trading services on its App today
• Starknet: The integration phase of the first stage of STRK staking has now begun
• ai16z: DAO partners have decided that ai16z and AI Combinator will completely separate
• Sui establishes a strategic partnership with Franklin Templeton Digital Assets
• ZKasino misappropriated funds prepared to be returned to users for leveraged long positions on ETH
Supported by OSL - Hong Kong's largest over-the-counter trading platform, continuously providing regulated digital asset services to the market since 2018.
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