Bitcoin Puell multiple soars, may signal continued BTC price surge
CryptoQuant's analysis shows that the Bitcoin Puell multiple has hit a new high, which may signal a significant rise in BTC prices. Historical data shows that when Bitcoin price exceeds the 365-day moving average, this key indicator will drive Bitcoin prices to rise more than 90%.
CME crypto futures trading volume hits record high
Data shows that the cryptocurrency division of the Chicago Mercantile Exchange has set a new trading record since the launch of Bitcoin futures in 2017, with the current daily trading volume exceeding $10 billion. Gio Viciioso, head of cryptocurrencies at the Chicago Mercantile Exchange, said that trading volume and contract numbers in November this year have grown more than fivefold year-on-year, with open interest reaching a record high, averaging 166,000 contracts, up 60% from October, three times that of November 2023.
Over 60 listed companies have implemented Bitcoin investment strategies
According to reports, more than 60 listed companies have implemented Bitcoin investment strategies, and thousands of private companies have also adopted similar investment methods.
Nearly 700 institutions now hold over 160 million shares of BlackRock's Bitcoin spot ETF (IBIT)
Recent 13F filings show that institutional investors adjusted their Bitcoin spot ETF investment strategies in Q3 2024, highlighting the deep integration of cryptocurrencies with Wall Street. BlackRock's iShares Bitcoin Trust (IBIT) has begun to lead the market, with nearly 700 institutional holders managing 160.2 million IBIT shares, with a total asset value of about $42 billion.
99.3% of Bitcoin UTXOs are in profit
CryptoQuant CEO Ki Young Ju said that 99.3% of Bitcoin unspent transaction outputs (UTXOs) are in profit, marking the crypto market's entry into the "most frenetic" sprint phase. He pointed out that such a phase usually lasts 3 to 12 months, but used the bull trap in November 2021 as an example, indicating that a similar bull trap may also occur, and all investors should be vigilant.
The new US administration may reconsider the Fed's rate cut pace
Deutsche Bank Asset Management forecasts that the US economic growth rate will slow from 2.7% in 2024 to 2.0% in 2025. The Fed is expected to implement three rate cuts before December 2025, but under the new administration, the Fed's pace of rate cuts will be more prudent. Disclaimer: The information provided in this section is for reference only and does not constitute any investment advice or official view of FameEX.
