BlackRock, the world’s largest asset manager, has officially launched options trading for its Bitcoin ETF, the iShares Bitcoin Trust (IBIT). This debut comes after the ETF received regulatory approval in January and has since attracted significant inflows. Increased Liquidity And Reduced Volatility On The Horizon According to Bloomberg, the introduction of options trading on the $43 billion iShares Bitcoin Trust is anticipated to reduce volatility while broadening Bitcoin’s investor base. Alex Thorn, head of firmwide research at Galaxy Digital, stated during a Bloomberg Television interview that as Bitcoin becomes more widely held, its volatility is likely to decrease. “Options will help dampen volatility, and as volatility comes down, people can take larger position sizes,” he explained. Thorn noted that a decrease in volatility could shift investor sentiment, encouraging them to view Bitcoin as a viable asset for fundamental use cases rather than merely a speculative gamble. The availability of options will also enable institutions to hedge their positions more effectively, increasing liquidity and potentially impacting retail trading during bullish market conditions. Call Options Dominate BlackRock’s Bitcoin ETF On Day 1 Bloomberg ETF analysts Eric Balchunas and James Seyffart reported that on the first day of options trading, the total notional exposure for IBIT reached nearly $1.9 billion, spread across 354,000 contracts. Of these contracts, 289,000 were calls, while 65,000 were puts, resulting in a bullish call to put ratio of 4.4:1. Seyffart claimed that this overwhelming interest in call options contributed to Bitcoin hitting new all-time highs of $94,000 during Tuesday’s trading session for the market’s leading crypto. Balchunas, on the other hand, pointed out that the majority of options contracts are bullish, especially the December 20 call option, which essentially bets that the Bitcoin price will double within a month. This means that based on current prices, investors are expecting BTC to hit a new record high of little over $180,000 by that date. The put/call volume ratio for BlackRock’s Bitcoin ETF was “impressive,” according to Balchunas, who noted that the ratio of 0.17 indicates strong bullish sentiment compared to other ETFs, such as the SPDR S&P 500 ETF (SPY) with a ratio of 1.1. Market expert Marty Party highlighted in a social media post that options on the iShares Bitcoin Trust will settle in actual Bitcoin. This means that when an option contract is exercised, settlement will involve the delivery of Bitcoin, giving investors direct exposure to BTC price movements without the need to interact with crypto exchanges. At the time of writing, the market’s leading digital asset is trading at $91,580, up 4% in the weekly time frame after today’s bullish move to its new high. Featured image from DALL-E, chart from TradingView.com

US spot Bitcoin ETFs amassed a little under 9000 bitcoins on November 19th. Assuming institutional investors maintain their present pace, a massive supply shock is likely. US spot Bitcoin exchange-traded funds still buy more bitcoins per day than are being produced. According to Coinglass, the total aggregate inflows across all eleven ETFs amount to around $814 million. Assuming institutional investors maintain their present pace of coin hoarding, a massive supply shock is likely, given that around 450 BTC are mined everyday. US spot Bitcoin ETFs amassed a little under 9000 bitcoins on November 19th. In addition, the halving effect, which decreased block rewards in April, will amplify the supply shock. A post-halving bubble, similar to those in earlier cycles, might be produced. Institutional Demand Surge As the market momentum persists, spot Bitcoin ETFs have received over $1 billion in only two days this week. Ark 21Shares, Fidelity, and BlackRock all had record-breaking inflows of $267.3 million, $256.1 million, and $213.5 million on Tuesday, respectively, into their respective exchange-traded funds. For the second day in a row, no money left the Bitwise, Grayscale, or VanEck funds, and a little amount of money came in. Since the introduction in January, the overall aggregate inflow has reached $28.5 billion. This rally seems to be being spearheaded by institutions. As seen by the demand for these products, whereas retail investors have not yet joined in. In Tuesday’s late trading, Bitcoin reached a new all-time high of little over $94,000; but, by Wednesday morning’s Asian trading session, it had fallen to $92,320. On Tuesday, BlackRock introduced the iShares Bitcoin Trust (IBIT) options, which were met with positive reception. The first day of trading saw over $2 billion worth of notional exposure. Highlighted Crypto News Today: Will Cardano (ADA) Reclaim $1 as Whale Interest Grows?

During the first 60 minutes of trading, Nasdaq reported 73,000 IBIT options contracts. According to James Seyffart, around 354,000 contracts were traded on IBIT’s first trading day. A significant milestone for the cryptocurrency sector was reached when Spot Bitcoin ETF options made their official debut on the Nasdaq. Investors have acquired more tools for risk hedging and covering exposure to Bitcoin’s volatility with the introduction of these options, beginning with BlackRock’s iShares Bitcoin Trust ETF (IBIT). During the first 60 minutes of trading, Nasdaq reported 73,000 IBIT options contracts. Placing the business in the top 20 most active non-index options. This significant event highlights the rising institutional interest in financial products linked to cryptocurrencies. Impressive Performance on Debut When BlackRock’s iShares Bitcoin Trust ETF (IBIT) options trading opened on the Nasdaq, an astounding 73,000 contracts were traded in the first hour of trading. This early spike puts IBIT among the most active non-index options, indicating robust market demand, according to Nasdaq. According to James Seyffart of Bloomberg, around 354,000 contracts were traded on IBIT’s first trading day. This amounts to a hypothetical exposure of about $1.9 billion. Additionally, the breakdown showed a call-to-put ratio of 4.4:1, with 289,000 call options and 65,000 put options. Institutional investors’ increasing interest in regulated Bitcoin derivatives is reflected in this volume of activity. Analysts predict that Bitcoin might rise above $200K as a result of today’s debut of Bitcoin ETF Options, which has raised confidence in the cryptocurrency sector. Institutional investors now have additional alternatives to manage and generate revenue thanks to the introduction of IBIT options. These choices provide them the chance to manage their exposure to the significant risk associated with the price of bitcoin. Furthermore, an improved derivatives market would benefit the whole cryptocurrency ecosystem by increasing liquidity and facilitating more effective pricing. Highlighted Crypto News Today: South Korea to Enforce Cryptocurrency Gains Tax from 2025

South Korea confirms 2025 cryptocurrency tax implementation despite previous delays. Tax exemption limit raised to $35,919, shielding smaller investors significantly. South Korea’s ruling Democratic Party of Korea (DPK) plans to proceed with the implementation of a cryptocurrency gains tax from January 2025, following delays due to resistance from investors and industry stakeholders. The Seoul Shinmun reported Wednesday that the DPK remains committed to enforcing the tax despite earlier discussions about further postponements. Originally, the 20% tax on cryptocurrency gains, with an additional 2% local tax, was scheduled to begin on January 1, 2022. However, strong opposition from the public and industry experts led to its postponement twice. It is ultimately rescheduling its start date to January 1, 2025. Proposals had been floated for further delays, with one suggestion extending the deadline to 2028. However, the ruling party appears resolved to move forward as planned. Moreover, the government has proposed amendments to ease concerns about the tax’s impact on investors. Under the revised plan, the tax-exempt limit for cryptocurrency gains will increase significantly—from 2.5 million Korean won ($1,795) to 50 million won ($35,919). This move aims to shield smaller investors from taxation, aligning with efforts to address industry criticisms. And create a more supportive environment for crypto trading and investment. General Voting To Be Done On Nov 26 Given the volatile nature of cryptocurrency markets, the amendment also introduces flexibility for taxpayers in calculating their liabilities. In cases where exact purchase records are unavailable, taxpayers will reportedly be allowed to use a percentage of the sale price as a proxy for the acquisition cost. The DPK has justified the increased exemption threshold, stating that raising the limit to 50 million won would result in only a small fraction of investors being subject to the tax. In their view, this adjustment significantly alleviates concerns without undermining the tax framework’s broader intent. The amended plan is expected to be reviewed by the National Assembly’s tax subcommittee on November 25. It is followed by a general vote on November 26. As the implementation date draws closer, industry participants will closely monitor developments. Highlighted News Of The Day Will Cardano (ADA) Reclaim $1 as Whale Interest Grows?

Cardano has regained momentum, rising over 13% to trade at the $0.84 mark. The daily trading volume of ADA surged over 61% to $2.74 billion. The cryptocurrency market exhibits mixed trends, with assets rising and falling. With Bitcoin’s steady momentum, major altcoins like Ethereum, Solana, and XRP fluctuate and face varying levels of volatility. While looking at Cardano (ADA), it has registered a 13.35% gain over the past 24 hours. In the early hours, ADA visited its lowest trading level at $0.7239 and eventually ascended to the current price range. As of the current time, Cardano trades at $0.8409, with its daily trading volume reaching $2.74 billion, as per CMC data. Notably, Cardano has gained over 58.24% in the past seven days. ADA hit a weekly high of $0.8069 from a low of $0.5332. However, the bullish outlook favors the asset avoiding a deeper slide. As per Santiment data, Cardano with its transaction volume reached a 7-month high, and over 8,900 whale transactions were recorded for the second consecutive week. The asset’s price ratio against Bitcoin is also nearing an 8-month high. Such activity levels, like in June, have preceded notable price surges with over 26% increase in the ADA/BTC pairing. On the other hand, the large-scale Cardano holders with over $10 million in ADA, have increased their holdings, by 145.72%, over the past month. This accumulation suggests strong whale activity. What Lies Ahead for ADA? The current market sentiment of ADA is approaching the overbought zone with the daily relative strength index (RSI) positioned at 71. Besides, the asset’s short-term 9-day moving average is found above the long-term 21-day moving average at $0.763 and $0.744, respectively. Cardano’s daily price chart exhibits an upside correction after breaking the crucial price ranges. Cardano’s uptrend factors could propel the asset to hit and test a high of $0.8846. An extended bullish trend might push ADA to climb to a level higher than $0.92. On the contrary, if the ongoing momentum reverses, ADA might slip to the downside, testing the nearby support at $0.7943. If the altcoin continues to trade on the downside, it could further retrace down to $0.7334. The technical analysis of ADA suggests the existing positive sentiment as the Moving Average Convergence Divergence (MACD) line settled above the signal line. This suggests the potential emergence of a bullish trend. ADA chart (Source: TradingView) In addition, the Chaikin Money Flow (CMF) indicator of ADA is found at 0.21, which refers to the increased demand and positive money flow within the market. Notably, the trading volume of the asset has increased by over 61.53%. Highlighted Crypto News Will Michael Saylor Bring Bitcoin to Microsoft’s Balance Sheet?

Aptos (APT) recorded a 37.6% surge in the last two weeks, reclaiming its Q1 levels. According to some market watchers, the cryptocurrency’s recent performance follows SUI’s lead, which has set the stage for a massive rally toward a new all-time high (ATH) in the coming weeks. Aptos To Follow SUI Steps Aptos has recorded a remarkable performance amid the market’s rally. Following the US presidential elections, the cryptocurrency has climbed from the $7.8 mark to reclaim the $11 support zone for the first time since late April. According to some crypto analysts, APT’s chart displays a similar trajectory to SUI’s. Analyst Alex Clay pointed out APT’s performance is “following SUI steps perfectly,” suggesting that a breakout might be coming soon. Per Clay’s post, Aptos’s chart displays the same price action as SUI, starting with a decline from its 2023 highs followed by a rise toward March’s highs. After Q1’s performance, the cryptocurrencies retraced over 70%, making a higher low (HL) from last year’s bottom and rising near March highs. However, SUI took the lead and is currently in its “price discovery mode” after surpassing its March ATH a month ago. In the last month, the token surpassed its previous high several times, setting its latest ATH of $3.92 two days ago. Based on this, the analyst suggests that investors should “wait for APT to breakout and price discovery.” Another market watcher previously noted that SUI and APT were moving in a “catch-up trade” path for the last year. The trader explained that the cryptocurrencies followed a similar path before SUI “decoupled” twice. Following SUI’s takeoff, APT experienced an over 40-day lagging period before resuming its run. At the time of the report, Aptos was two weeks away from catching up on SUI, which now coincided with the post-election run. An SUI-like breakout could see APT surpass the $18 mark and soar toward a price discovery zone above the $20 range. APT Eyes $20 Target Crypto analyst Quinten highlighted APT’s recent performance, asserting that it is “reclaiming its dominance, printing consistent higher highs and higher lows.” He also noted that the token’s chart shows “strong accumulation leading up to this explosive breakout.” Last week, the token soared over 40% toward its monthly high of $13.3, a level not seen in seven months. Since then, the cryptocurrency has moved sideways, consolidating between the $11.5-$12.6 price range, briefly losing the lower range when Bitcoin (BTC) retraced toward $87,000. The $11 mark was a significant resistance throughout Q3, with APT being rejected from this range several times. However, the token has successfully held above this level for seven days. As a result, the analyst believes the current momentum could send Aptos to a new ATH, as the “next big psychological and technical target” is at the $20 mark. At the time of writing, APT is trading at $11.79, a 2.2% decline in the daily timeframe.

Pepe’s price witnessed a modest increase of 0.52% in the last 24 hours. The memecoin’s daily trading volume showed a 9.57% increase as per CMC data. This week, the crypto market has prolonged its weekend slump not showing much action in prices. Meanwhile, a shift in focus from cryptocurrency in the regulatory sector has further contributed to this slump. On the other hand, in the past day, Trump’s considering Teresa Goody Guillén has received market interest. Despite the market slump, particular altcoins and especially the memecoin sector have seen several top performers this week. Frog-based memecoin PEPE has shown notable performance over the past week. In the last 24 hours, the cryptocurrency has shown a modest price increase of 0.52%. In the Asian afternoon hours of November 19, PEPE was trading at $0.00002008, after which it progressed to an intra-day high of $0.00002118. Following this, it dipped to current levels once again docking at the $0.000020 level. At the time of writing, PEPE was trading at $0.00002028 as per CMC data. Zooming out, over the past week, PEPE has shown a significant price increase of 57.85%. This price rally saw the memecoin break notable resistance levels at $0.000017 and $0.00002. In this week the cryptocurrency also hit a new ATH at $0.00002524. Will PEPE Surpass Price Correction onto Another Rally? On inferring its price movements PEPE, as aforementioned, seems to have entered a price correction, reflecting Bitcoin. The memecoin shows struggles to break resistance beyond $0.000026 after a recent price rally. However, when analyzing technical indicators, they show potential for upward movements. PEPE/USDT Daily Price Chart (Source: TradingView) Pepe’s bull power indicator value stands at 0.15, while its bear power indicator value stands at a low of -1.82. Additionally, according to TradingView data, its RSI stands at 70.55 indicating a slightly overbought situation in the market. These inferences suggest that the PEPE price could witness another rally in the coming days. Meanwhile, other memecoins such as DOGE and SHIB have also shown upward movements. Recently, in the past day, BONK hit a new ATH and flipped dogwifhat in market cap, becoming the fourth largest altcoin. Highlighted Crypto News Today: Donald Trump Eyes Teresa Goody Guillén for SEC Chair Role

As Pepe (PEPE) approaches a critical buying zone, investors are carefully watching its price action for the ideal entry point. PEPE is reportedly nearing critical support levels, making it a great option for a ‘buy the dip’ strategy. Meanwhile, FXGuys ($FXG), an emerging DeFi token, has gained traction in the market with its Trade2Earn model, giving traders rewards and passive income via staking. With PEPE showing strong bullish potential and $FXG dominating the presale, investors are weighing their options in the dynamic crypto space. Here is a look at why investors are choosing $FXG over PEPE! BUY $FXG TOKENS HERE PEPE Nears Critical Support as Investors Turn to $FXG, a Top DeFi Token Pepe is currently showing huge signs of an exciting buying opportunity. As noted by a renowned analyst, InvestingHaven, the price is moving toward a critical support zone near $0.00000777, aligning perfectly with the 50% Fibonacci retracement. PEPE’s technical analysis showed that the price may be set for a rebound, offering a possible ‘buy the dip’ moment for investors. Notably, PEPE has been surging constantly since it plunged in early October 2024. Multiple factors are thought to be behind PEPE’s resurgence, including investments from BitMEX co-founder Arthur Hayes. His support for PEPE resulted in a massive surge in price, enabling the token to break a five-month-old resistance level. With the latest analysis by InvestingHaven, a back-test of the falling trendline might offer a strong entry point for those aiming to capitalize on a dip that may happen. If PEPE can successfully hold the level, it might pave the way for a bullish trend as we head into 2025. On October 21, PEPE was valued at $0.00001015, down 4.95% in the past week. Analysts say PEPE will rise to $0.00001255 by the end of this month, supported by increased buying pressure. Despite the potential growth, investors are turning to $FXG, a top DeFi token dominating the market in its presale. BUY $FXG TOKENS HERE FXGuys Gains Momentum as a Cheap Crypto to Buy Amid DeFi Boom The rise of FXGuys comes when DeFi is gaining rapid traction. Investors are searching for tokens with strong utility. The FXGuys platform stands out due to its multi-pronged approach to generating profits for investors. This platform’s Trade2Earn model rewards traders with $FXG tokens for their trading activity, developing an ecosystem that allows users to earn constantly whenever they remain active. Nonetheless, the FX Guys project does not only cater to traders. Its staking feature lets long-term investors enjoy passive income by earning some of the profits generated on the platform. Offering up to 20% yearly returns via staking, $FXG has become a cheap crypto to buy, with minimal risks. With price volatility keeping investors on edge, FXGuys’ staking feature offers a reliable way to earn passive income. Investors can stake their $FXG tokens and receive up to 20% of the platform’s profits, distributed based on the total amount staked. The model links the platform’s success directly to the token holders, making sure that as FXGuys grows, so do the returns for the stakers. The Trade2Earn model is one of FXGuys’ standout features that rewards traders for every transaction executed on the platform. The feature is a game-changer for traders who seek extra methods of generating income beyond the traditional profits from market movements. These generated $FXG tokens can be held or sold for profit. Another notable feature that sets FXGuys apart from other top DeFi tokens is its Trader Funding Program. The program lets skilled traders access huge trading accounts, offering them the needed capital to implement their investment strategies at scale. In return, the traders share some of their gains with $FXG token holders, maintaining a constant revenue stream for investors. Remarkably, the Trader Funding Program builds a win-win scenario where traders get the resources they need to succeed, and investors benefit from the generated profits. The exclusive model adds an extra layer of value to the FXGuys network, making it a great crypto investment for traders and investors. Currently, in Stage 1 of its public presale, valued at $0.03, analysts say it is still cheap due to its massive growth potential. The current investors will enjoy a 33% profit when $FXG transitions to the next stage, valued at $0.04. Additionally, the token will gain a 233% value once it lists on mainstream exchanges at $0.10. BUY $FXG TOKENS HERE FXGuys Emerges as a Lucrative Investment as PEPE Approaches Key Support While PEPE offers a promising buying opportunity with its approach to a critical support level, FX Guys stands out as a lucrative investment alternative. The FXGuys platform provides a distinct value via its Trade2Earn model and staking features, offering active traders and long-term investors many income-generating methods. With the DeFi space quickly growing, $FXG’s innovative ecosystem makes it a leader in the crypto market as the bull market approaches. As PEPE continues its bullish trajectory, most investors aim to diversify with FXGuys, taking advantage of its presale and potential for constant and reliable returns. To find out more about FX Guys follow the links below: Presale | Website | Whitepaper | Socials | Audit Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

On-chain data shows the Bitcoin Puell Multiple is about to undergo a crossover that has historically been very bullish for BTC’s price. Bitcoin Puell Multiple Could Cross Its 365-Day MA In Near Future As pointed out by an analyst in a CryptoQuant Quicktake post, the Bitcoin Puell Multiple has been approaching its 365-day moving average (MA) recently. The “Puell Multiple” here refers to a popular on-chain indicator that tells us about how the revenue of the Bitcoin miners compares against its yearly average. BTC miners earn their income through two sources, the transaction fees and the block subsidy, but in the context of the Puell Multiple, only the latter is relevant. Block subsidy is the reward miners receive as compensation for adding blocks to the network. When the indicator’s value is greater than 1, it means the miners are currently making a higher revenue than the average for the past year. On the other hand, it being under the threshold suggests the miners are earning less than usual. Now, here is a chart that shows the trend in the Bitcoin Puell Multiple, as well as its 365-day MA, over the last few years: As displayed in the above graph, the Bitcoin Puell Multiple had plunged under the 1 mark earlier in the year, but recently, its value has seen a sharp rise back towards the mark. The reason behind the earlier plummet was the occurrence of the fourth BTC Halving. “Halvings” are events coded into the blockchain that automatically shave off the asset’s block subsidy in half every four years. As the Puell Multiple keeps track of the block subsidy, it naturally makes sense that the Halving would drastically affect the ratio’s value. Outside of the Halvings, the block subsidy remains constant in BTC value and is more or less given out at a constant rate. However, the ratio’s value can still change at times other than Halvings because it measures the USD value of the miner revenue. The rewards that miners get are in BTC and so, their value is also tied to the USD rate of the asset. With the cryptocurrency observing a sharp rally recently, the miner revenue seems to be back to the same as the 365-day MA. The 1 mark isn’t the only important level the Puell Multiple has risen to; it is now near its 365-day MA. In the chart, the quant highlighted what happened the last three times the metric broke above this line. It would appear that the asset went on to rally at least 76% each time. It remains to be seen whether the Puell Multiple could break above this line, potentially giving a bullish signal for Bitcoin, or if the retest would fail. BTC Price Bitcoin has recently witnessed a cooldown in bullish momentum as its price has fallen to a sideways movement. At present, BTC is trading at around $91,900.

Teresa Goody Guillén, a blockchain lawyer, is a leading candidate for SEC chair under Trump. The decision for the new SEC chair is expected before Thanksgiving. President-elect Donald Trump is reportedly considering Teresa Goody Guillén, a seasoned securities attorney and blockchain expert, to chair the U.S. Securities and Exchange Commission (SEC). Goody Guillén, a partner at BakerHostetler and co-lead of its blockchain team, has significant experience in securities law and blockchain advocacy. Trump’s transition team prioritizes a pro-crypto candidate to replace outgoing Chair Gary Gensler. Gensler is expected to step down before Trump’s inauguration on January 20, aligning with the president-elect’s promise to overhaul the SEC. Trump aims to end the agency’s “regulation by enforcement” approach and introduce light-touch crypto regulation. A Transformative Choice Goody Guillén served in the SEC’s Office of the General Counsel from 2009 to 2011. She later worked with former SEC Chair Harvey Pitt, advising clients on enforcement issues. Her dual experience within the SEC and as a defender of blockchain companies makes her a strong contender for the role. Crypto executives, including Brendan Playford of Masa, strongly support Goody Guillén. Playford described her as an “instant change-maker” capable of transforming the SEC’s stance on digital assets. Industry leaders believe her appointment would drive regulatory clarity and support the crypto sector’s growth. Goody Guillén faces competition from high-profile candidates, including Robert Stebbins of Willkie Farr & Gallagher and former SEC Commissioner Paul Atkins. Other contenders include Robinhood’s Chief Legal Officer Dan Gallagher and Brian Brooks, former Acting Comptroller of the Currency. Trump’s transition team, led by Howard Lutnick, aims to finalize the SEC chair decision before Thanksgiving. This swift process reflects the administration’s focus on rapid regulatory reform. If selected, Goody Guillén’s leadership could mark a turning point for U.S. crypto regulation. Her understanding of securities law and blockchain technology positions her to foster a balanced regulatory environment. The industry awaits Trump’s announcement, which could reshape the SEC and the future of crypto in the U.S. Highlighted Crypto News Today Can Ethereum Break Free from Its Consolidation Phase?

Amid the rise of blockchain and the digital economy, the NFT market has opened new wealth-building opportunities. As a leader in this space, CyberACE has introduced a unique NFT staking plan, providing users with a stable, high-yield growth option that enables digital asset appreciation and liquidity. CyberACE’s staking plan offers differentiated rewards based on NFT rarity and level, with flexible terms and daily returns. For example, users with UR-level cards can earn up to 89,375 USDT over a 65-day staking period, an appealing option for long-term investors. In addition to regular returns, CyberACE’s plan includes innovative synthesis and buyback mechanisms. Users can combine lower-level cards into higher rarity ones, enhancing their investment value and scarcity. High-level cards also have periodic buyback privileges, further increasing market liquidity and value retention. CyberACE aims to expand collaborations with international auction houses and digital art institutions to boost the global recognition and value of rare cards. Through this innovative mechanism, CyberACE offers users the chance to both invest in the NFT market and benefit from stable, long-term returns. The launch of CyberACE’s staking plan marks a new era for NFTs, transforming the market from a digital collectibles space into a sustainable wealth-building platform for users. Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements. Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

Ethereum struggles to break resistance despite rising speculative trading activity. Market sentiment remains bearish, limiting Ethereum’s recovery. Ethereum (ETH) continues to grapple with resistance levels while Bitcoin (BTC) surpasses expectations, recently hitting $93,905. Ethereum, on the other hand, has failed to break above $3,300. It is currently trading at $3,110, down 0.79% in the past 24 hours. Its trading volume has also dropped by 23%, signaling weak momentum. Technically, Ethereum has held support above $3,000. The price briefly surpassed $3,120 and $3,150, climbing to $3,224 before facing rejection. It has since retraced, falling below the 23.6% Fibonacci retracement level of its recent move from $3,051 to $3,224. Currently trading above $3,112 and the 100-hour Simple Moving Average (SMA), ETH faces resistance at $3,220 and $3,250. A breakout above $3,250 could drive the price to $3,320 and $3,450. However, failure to clear $3,220 may lead to a decline toward $3,140 and $3,050. A break below $3,050 could push ETH to $2,940 or lower. Meanwhile, despite bearish sentiment, speculative activity around Ethereum is at its highest in months. Ethereum To Face More Downside? Data shows reserves on derivative exchanges have reached 11.28 million ETH, marking a one-year high. This indicates increased leveraged trading as traders position for future price movements. Open interest has also surged to $18.31 billion, reflecting a $4 billion increase this month. Positive funding rates suggest traders maintain a bullish outlook. ETH Price Chart, Source: Sanbase However, market sentiment remains broadly bearish, dampening demand and limiting Ethereum’s recovery potential. Rising leveraged positions also heighten the risk of volatility due to forced liquidations. In conclusion, Ethereum remains at a crossroads, supported by speculative interest but weighed down by weak demand. Key resistance levels at $3,220 and $3,250 will be critical for its short-term trajectory. Until then, Ethereum will likely remain in consolidation, with downside risks intact. Highlighted News Of The Day Stablecoins Hit Record High Supply Hinting Further Bullish Momentum

Michael Saylor set to pitch Bitcoin investment strategy to Microsoft. A vote on December 10 will determine if Microsoft considers Bitcoin as an investment. Microsoft plans to assess and incorporate Bitcoin into its balance sheet. This decision aligns with the shareholders preparing to vote on a proposal in December, coinciding with an upcoming presentation by Michael Saylor, Executive Chairman of MicroStrategy, to Microsoft’s board of directors. During a November 19 X Spaces session hosted by VanEck, Saylor disclosed that he was invited to present a three-minute pitch to Microsoft’s board about Bitcoin investment. This board is led by the firm’s Chairman and CEO, Satya Nadella, and other executives from Disney, Citigroup, and Wells Fargo. Microsoft has been focused on investments like U.S. government securities and corporate bonds, which are widely regarded as reliable in the uncertain economic scenario. The firm’s large portion of the cash reserves are invested in low-risk assets. On the other hand, the December 10 vote, initiated by the National Center for Public Policy Research (NCPPR), will decide whether the board should approach Bitcoin as a potential corporate investment. In addition, the proposal cites the growth of Bitcoin over the last five years. It further highlights the success of MicroStrategy with its Bitcoin-focused strategy. Notably, MicroStrategy’s shares have surged more than 300% in 2024, outpacing Microsoft. Bitcoin Holdings of MicroStrategy As a pioneer in corporate Bitcoin adoption, MicroStrategy has recently purchased 51,780 BTC for its holdings. As of now, the company’s 331,200 bitcoins are valued at approximately $29.7 billion. The assets were acquired at an aggregate cost of $16.5 billion, or $49,874 per BTC. Michael Saylor emphasized that firms like Microsoft, Berkshire Hathaway, Apple, and Google should leverage their cash reserves by investing in Bitcoin to enhance shareholder value. The Corporate Bitcoin Adoption The implications include the increased credibility of digital currency; embracing Bitcoin could expand the acceptance of cryptocurrencies as legitimate assets. This could influence government policies and financial regulations globally. Furthermore, the Bitcoin investment could allow corporations and individual investors to diversify their portfolios by integrating traditional assets with cryptocurrencies. Besides, the largest crypto asset, Bitcoin, is currently trading at $92.3K with its market cap resting at $1.83 trillion. The daily trading volume of BTC has settled at $75 billion. Analysts anticipate the asset will reach $100K shortly by evaluating its momentum within the market. Highlighted Crypto News BONK Hits New ATH and Flips dogwifhat as Top Solana Memecoin

Bitcoin’s price has shown only modest gains in the last 24 hours as movements indicate consolidation. The cryptocurrency’s daily trading volume dropped by 2.24% as per CMC data. As good times in the digital assets sector persist, this week has seen a short pause in price rallies. The community known for its endless optimism has been sportive as investors wait for the next bull cycle. Meanwhile, smart traders have gotten to work beginning to accumulate tokens before it hits new highs. Notably, the overall market has seen a modest dip in market cap—0.53%, while Bitcoin is reflecting modest gains of 0.51%. Meanwhile, the slump could be seen reflected in the altcoin sector as well. Ethereum and Solana have shown price drop percentages under 5%. The past day’s price movements ranged from $91,294 to the current $92,290 before it rose to a new all-time high at $94,002. After testing this new level, the cryptocurrency receded to the aforementioned prices. At the time of writing, BTC was trading at $92,335, as per CMC data. Ali (@ali_charts), the prominent crypto market expert posted a prediction for Bitcoin on his X account yesterday. He outlined how BTC has been mirroring the previous bull cycles and predicted another price rally. This rally would result in Bitcoin hitting the $150,000 level followed by corrections stated the analyst. Bitcoin Whales Accumulations – Sign of Incoming Bull Run? According to on-chain investigators reports, several Bitcoin whales have shown activity this week. Lookonchain posted two BTC whales buying tokens and selling them at highs. Moreover, MicroStrategy founder Micheal Saylor recently announced plans to invest more funds in the cryptocurrency. BTC/USDT Daily Price Chart (Source: TradingView) Moreover, on its price charts, Bitcoin’s signal line stands above the MACD line indicating a positive trend as per TradingView data. In the case of Ali’s aforementioned price breakout materializing, the cryptocurrency can be expected to face slight bumps at resistance levels – $94,164 and $96,974. Furthermore, the aforementioned whale accumulations have led to market anticipations of yet another mind-boggling bull run. The coming days hold an answer to whether Bitcoin will stage this price rally dropping more fortunes into our laps. Highlighted Crypto News Today: Stablecoins Hit Record High Supply Hinting Further Bullish Momentum

Ethereum has experienced a noticeable surge in its price recently, trading above the psychological $3,000 price mark, which has reignited interest in the crypto market. According to on-chain analysis, retail investors appear to be adopting a “hold” strategy, resisting the urge to sell despite the increase in ETH’s value. Market analysts view This holding behavior as significant, especially considering the broader market sentiment influenced by the so-called “Trump Trade,” which has contributed to easing risks and enhancing market conditions. Limited Ethereum Deposits To Exchanges According to the onatt, the CryptoQuant analyst behind the analysis, this trend of holding ETH without significant profit-taking suggests that many investors still perceive the cryptocurrency as “undervalued,” even at its elevated levels. Another factor onatt mentioned supporting this observation is the limited inflow of ETH to major exchange deposit addresses such as Binance and OKX, indicating that traders are not moving their assets to sell. Generally, large volumes of ETH flow into exchanges typically signal impending selling pressure. However, this has not been the case, reflecting a cautious but optimistic outlook among retail market participants. Key Metric Highlighting Investor Sentiment Another major metric the CryptoQuant analyst highlighted reinforcing this “hold” sentiment is the Spent Output Profit Ratio (SOPR), which tracks the profitability of spent coins. onatt reveals that this metric remains close to 1, indicating that most Ethereum transactions are happening near breakeven levels. This data indicates a lack of significant profit realization among ETH holders, highlighting a strong “buy and hold” sentiment. According to the analyst, when paired with low exchange inflows, this metric also suggests that investors are maintaining confidence in Ethereum’s long-term growth potential. Furthermore, onatt’s analysis suggests that as long as ETH maintains levels above $2,800, it could pave the way for a swift move toward the $4,000 range. So far, Ethereum is currently still trading above just above $3,000. While the asset’s price increase is nowhere near that of BTC, it has managed to maintain stability above the crucial psychological price level. At the time of writing, ETH has surged by 0.2% in the past day with a current trading price of $3,100—a price mark that brings Ethereum a 36.4% decrease away from its all-time high (ATH) of $4,878 registered in 2021. Analysts have suggested that the current market price of ETH is a notable buying opportunity for the asset. A crypto enthusiast known as venturefounder has particualry predicted a “conservative” $10k-$13k price target for ETH. Featured image created with DALL-E, Chart from TradingView

BONK hits a new ATH of $0.00005916, surpassing dogwifhat (WIF) to become the largest Solana memecoin by market cap. South Korea’s largest crypto exchange, Upbit, lists BONK in its Korean Won trading market. Today, BONK, the leading Solana-based memecoin, has made a significant breakthrough. It reached a new all-time high of $0.00005916, surpassing dogwifhat (WIF) to become the largest Solana-based memecoin by market cap. Currently, it holds the position of the fourth largest meme coin in the overall cryptocurrency ranking. Memecoin Rankings (Source: CMC) Adding to the excitement, South Korea’s largest crypto exchange, Upbit, has announced the listing of BONK on its Korean Won trading market, further increasing its visibility and accessibility. BONK has successfully broken free from the prolonged bear trend, where it struggled to surpass the $0.00003 level since late July. The “Ichimoku Cloud chart confirms a strong uptrend for BONK,” signaling that the bulls are in control. At the time of writing, BONK is priced at $0.00005643 (22% increase) and has a market cap of $4.23 billion. Additionally, its daily trading volume has surged by 94.91% in the last 24 hours, reaching $2.88 billion. Technical Analysis and Short-Term Outlook for BONK According to the BONK/USDT trading pair, the memecoin’s price has returned higher in the intraday levels, confirming the breach of the pivotal resistance at $0.00005003, which led the way to the all-time high. This move is supported by the upward short-term trend, with positive pressure from trading above the 50-day SMA ($0.00002603). Also, the positive signals from the RSI on the 4-hour price chart suggest there is room for further upside. BONK Price Chart (Source: TradingView) Moreover, the MACD line crossing above the signal line indicates strong bullish momentum, suggesting that the price may be poised to move upward. This crossover suggests that the short-term price momentum is stronger than the longer-term momentum. Therefore, more gains for BONK are expected. Currently, it settles firmly above $0.000055, targeting the resistance at $0.00006325. However, on the daily chart, an RSI of 82 indicates that the asset is overbought and may be due for a potential price correction or consolidation. In that case, BONK could fall to immediate support at the 9-day SMA of $0.00005307, or even to $0.00004316, which could lead the memecoin to fall below $0.00003253. For insights on BONK’s long-term move, keep an eye on TheNewsCrypto’s BONK price prediction. Highlighted Crypto News Today Stablecoins Hit Record High Supply Hinting Further Bullish Momentum

Since November 5, the day President-elect Donald Trump secured another term in office, Bitcoin has experienced a remarkable uptrend, reaching a new all-time high of $93,300. Since then, BTC has been trading within a narrow range between $89,000 and $92,000, positioning for a potential move toward the $100,000 milestone. This raises an intriguing question whether a price of $1 million per coin is feasible over the next decade. A Long-Term Vision For Investors Market expert VirtualBacon has conducted an in-depth analysis of these possibilities, delving into the numbers, trends, and catalysts that could propel Bitcoin to experience a surge of nearly 1,000% from its current price levels. Within the current market cycle, the expert forecasts that Bitcoin could hit $200,000 in the next one to two years. However, he notes that while this milestone is significant, altcoins may offer higher returns at a greater risk, often crashing by 80% to 90% in bear markets. In contrast to altcoins, which face increasing regulatory scrutiny, Bitcoin stands out as a safer long-term investment. VirtualBacon argues that Bitcoin’s potential is not just confined to the next few years but spans a decade or more. To understand why Bitcoin’s price could reach $1 million, VirtualBacon asserts that investors need to consider its fundamental utility as a store of value. Bitcoin’s fixed supply of 21 million coins, its global accessibility, and its resistance to censorship and manipulation make it a compelling alternative to traditional financial assets. The expert suggests that if Bitcoin is to become recognized as the digital gold of the 21st century, reaching a market capitalization that rivals gold’s estimated $13 trillion is not merely a theoretical possibility but “a logical outcome.” Key drivers for this potential growth include increasing participation from asset managers, corporate treasuries, central banks, and wealthy individuals. Recent data indicates that Bitcoin ETFs have seen record inflows, with $1 billion invested last week, reflecting growing institutional confidence. Additionally, discussions among corporations, such as Microsoft considering Bitcoin reserves, further enhance its strategic value. Wealthy individuals are also beginning to adopt Bitcoin as a standard portfolio allocation, with even a modest 1% investment becoming commonplace among billionaires. What Does Bitcoin Need To Reach $1 Million? For Bitcoin to reach the $1 million mark, two critical factors must be analyzed: global wealth growth and portfolio allocation. VirtualBacon notes that in 2022, total global wealth was estimated at $454 trillion, and projections suggest this could grow to $750 trillion by 2034. Currently, gold holds approximately 3.9% of global wealth, while Bitcoin is at a mere 0.35%. If Bitcoin’s allocation in global portfolios rose to just 3%, still significantly below gold’s share, its market cap could soar to $20 trillion, pushing the price to $1 million per coin. Historically, gold’s market cap saw significant growth following the launch of exchange-traded funds in 2004, with its portfolio allocation increasing from 1.67% to 4.74% over the next decade. If Bitcoin follows a similar trajectory, its allocation could rise from 0.35% to 1.05% or more, translating to a market cap of approximately $7.92 trillion, equating to about $395,000 per Bitcoin. Therefore, reaching $1 million doesn’t require Bitcoin to surpass gold; it must capture about 57% of gold’s projected market cap by 2034. With gold representing 4.7% of global portfolios compared to Bitcoin’s 0.35%, a modest increase in Bitcoin’s share of global wealth to 3%—just 60% of gold’s allocation—could “easily” result in a $20 trillion market cap and a $1 million price point. At the time of writing, BTC is trading at $92,240, up 7% every week. Featured image from DALL-E, chart from TradingView.com

Crypto analyst Ali Martinez has provided insights into what the Bitcoin price trajectory could look like in the coming weeks. Interestingly, the analyst predicted that Bitcoin could rally to $138,000 and then experience a 30% price crash. Why Bitcoin Could Rise To $138,000 And Crash After In an X post, Martinez alluded to historical trends to explain why the Bitcoin price could rally first to $138,000 and then crash by 30% after. He stated that during the 2017 bull market, Bitcoin surged 156% past its previous all-time high (ATH) before the first major correction of 39%. Similarly, BTC rallied 124% in the 2020 bull run before it witnessed a 32% correction. If history were to repeat itself, Martinez predicts that the Bitcoin price could rally to at least $138,000 before experiencing its first major pullback. Bitcoin has cooled off in the last few days following its parabolic rally after Donald Trump won the US presidential elections. However, the analyst recently mentioned what needed to happen for the flagship crypto to break above $100,000 and possibly reach this $138,000 target. He stated that the BTC price needs to achieve a sustained daily close above $91,900 to invalidate its bearish outlook at the moment and rally to $100,680. This came as he explained why Bitcoin could witness a price correction soon enough. Martinez noted that the greed index was currently at its peak, which is usually bearish for the Bitcoin price since investors could be overleveraging their positions, leading to a massive flush. Meanwhile, in his most recent X post, Ali Martinez indicated that this Bitcoin price rally above $100,000 would happen before the significant price correction. This time, he upped his target to $150,000, stating that the breakout could happen the next day or two before the 30% price correction. Price Could Double From Previous ATH In Next Three Weeks Crypto analyst Kevin Capital predicted that the Bitcoin price could double in the next three weeks. He noted that in every Bitcoin cycle after BTC broke its previous ATH, the crypto went into price discovery and doubled its price in four to six weeks. According to Kevin, BTC is 45% to 50% away from doubling its price from the previous ATH of $73,000 and is on week three of price discovery. Related Reading: Dogecoin Large Transactions Surge 41% With 35% Uptick In Daily Addresses, Will Price Follow? The analyst stated that if the BTC price doesn’t record this 45% to 50% rally in the next three weeks, it is technically underperforming previous bull markets. However, it is worth mentioning that this cycle is the only one in which the Bitcoin price has reached a new ATH before the halving event, which took place earlier this year. At the time of writing, the Bitcoin price is trading at around $91,900, up in the last 24 hours, according to data from CoinMarketCap.

Cardano price started a consolidation phase above the $0.700 zone. ADA is holding gains and might aim for a fresh increase above $0.7880. ADA price started a downside correction after a strong rally toward $0.8200. The price is trading above $0.740 and the 100-hourly simple moving average. There was a break above a short-term contracting triangle with resistance at $0.7550 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could start another increase if it clears the $0.7880 resistance zone. Cardano Price Holds Gains Above Support In the past few days, Cardano saw a major increase above the $0.50 resistance. ADA outpaced Bitcoin and Ethereum. There was a move above the $0.650 and $0.750 resistance levels. It even cleared the $0.800 level. A high was formed at $0.8199 before there was a pullback. The price tested the $0.6880 support and is currently rising. There was a move above the $0.740 resistance. The price climbed above the 50% Fib retracement level of the downward move from the $0.8199 swing high to the $0.6893 low. Besides, there was a break above a short-term contracting triangle with resistance at $0.7550 on the hourly chart of the ADA/USD pair. Cardano price is now trading above $0.740 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.7750 zone. The first resistance is near $0.7880 or the 76.4% Fib retracement level of the downward move from the $0.8199 swing high to the $0.6893 low. The next key resistance might be $0.8180. If there is a close above the $0.8180 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.8800 region. Any more gains might call for a move toward $0.950. Are Dips Supported in ADA? If Cardano’s price fails to climb above the $0.7880 resistance level, it could start another decline. Immediate support on the downside is near the $0.750 level. The next major support is near the $0.740 level. A downside break below the $0.740 level could open the doors for a test of $0.6880. The next major support is near the $0.600 level where the bulls might emerge. Technical Indicators Hourly MACD – The MACD for ADA/USD is gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now above the 50 level. Major Support Levels – $0.7400 and $0.7200. Major Resistance Levels – $0.7880 and $0.8180.

Bitcoin price movements often correlate with large-scale investors’ actions, commonly called “whales.” These individuals or entities hold between 1,000 and 10,000 BTC, and their trading behavior is a critical indicator of market trends. With that being said, recent data indicates that these whales have been increasing their Bitcoin holdings, which has fuelled momentum in the Bitcoin market thereby capturing the interest of more investors. BTC Whales Continue Accumulation: Implications and Risks A CryptoQuant analyst known as Datascope recently highlighted the trend of increasing BTC whale accumulation, noting that a positive 30-day percentage change supports the accumulation of Bitcoin by whales. This trend according to the analyst, represents a shift that can significantly impact Bitcoin’s price trajectory. When these major players accumulate, it often signals more liquidity in the market and a likely impending price surge. Datascope discloses that the correlation between whale balances and Bitcoin’s price “highlights the growing dominance of these investors in the market.” The CryptoQuant analyst added: However, datascope mentioned that there are potential caveats to this accumulation trend. He noted that the accumulation phase can lead to upward momentum, but it inherently carries the risk of a sharp reversal when these large holders decide to sell their assets. Selling pressure from whales, especially if executed suddenly, could lead to rapid price declines, reversing gains during accumulation. The analyst concluded by noting: Bitcoin Market Performance While the accumulation of BTC from whales continues, the asset appears to be gearing up for another rally. It is worth noting that prior to today’s price performance, Bitcoin has remained just above $90,000 following its sharp decrease away from its all-time high (ATH) of $93,477 registered last week. However, today, the asset is beginning to see a return of upward momentum. Particularly, at the time of writing, Bitcoin has increased by 1.9% to a current trading price of $91,635, bringing it to a 1.7% decrease away from its ATH. Featured image created with DALL-E, Chart from TradingView