Weekly Economic Calendar:
| Date | Time | Currency | Event | Forecast | Previous Data |
|---|---|---|---|---|---|
| November 27, Wednesday | 22:00 | FOMC Meeting Minutes | |||
| November 27, Wednesday | USD | Gross Domestic Product (GDP) – (Q3) | 1.8% | 2.5% | |
| November 28, Thursday | 16:00 | EUR | Germany Consumer Price Index (CPI) (MoM) (Nov) | 0.4% | |
| November 28, Thursday | – | USD | U.S. – Thanksgiving Day – Markets Closed | ||
| November 29, Friday | 13:00 | USD | U.S. Markets Close Early for Thanksgiving (at 13:00) |
Bitcoin Approaching the $100,000 Mark
Starting November at levels around $69,000, Bitcoin has surged past $98,000 as we approach the end of the month. Nearing the $100,000 threshold, it has set a new record and created significant excitement in the markets. During this historic rise, crypto whales have continued their Bitcoin accumulation strategies. These large-scale moves indicate growing investor confidence in Bitcoin and suggest the potential for the leading cryptocurrency’s upward trend to persist.
https://bitcoinmonthlyreturn.com/
Bitcoin Spot ETFs Continue to Break Records
BlackRock’s iShares Bitcoin Trust ETF (IBIT) achieved a net inflow of $2.05 billion in just one week, solidifying its leadership in the sector. Fidelity’s Fidelity Bitcoin ETF (FBTC) saw a net inflow of $773 million during the same period.
Gensler’s Resignation
Gary Gensler, the Chair of the U.S. Securities and Exchange Commission (SEC), announced his resignation, effective January 20, coinciding with Donald Trump’s inauguration as president. This news has been a significant factor in Bitcoin’s recent price surge. During his tenure, Gensler took a stringent stance on the crypto industry, emphasizing regulatory measures. However, his resignation raised expectations of reduced regulatory pressure, positively impacting Bitcoin prices.
The identity of the next SEC Chair remains unclear, with potential candidates including Robinhood’s Chief Legal Officer Dan Gallagher, former SEC Commissioner Paul Atkins, and current Commissioner Mark Uyeda.
Solana (SOL) and Spot ETF Developments
In recent weeks, Solana has garnered attention with its strong price rally, approaching all-time highs and boosting investor confidence. Key drivers of this rise include ecosystem growth, increased institutional interest, and Solana’s fast, low-cost transaction infrastructure.
- The Cboe BZX Exchange has filed four spot ETF applications for Solana, aiming to facilitate institutional access to crypto assets. These ETFs offer new investment products, including baskets of Solana, DeFi, NFTs, and multi-asset portfolios. If approved by regulators, these ETFs could significantly boost Solana’s price and adoption.
- As the SEC’s approval process continues, this step is seen as a potential turning point not just for Solana but for the entire crypto market. With rising prices and new ETF developments, Solana is generating broader interest and opportunities in the crypto space.
Musk and Trump Propel Dogecoin
Dogecoin (DOGE) has regained attention recently due to developments involving Elon Musk and the crypto market. Musk’s appointment as the head of the U.S. Government Efficiency Department, whose acronym matches Dogecoin’s ticker “DOGE,” had a positive impact on its price. Additionally, Donald Trump’s crypto-friendly regulatory promises pushed Dogecoin’s market cap to $63.5 billion.
Meanwhile, the $258 billion Dogecoin manipulation lawsuit against Musk was dismissed after investor complaints were withdrawn. Musk’s exoneration bolstered market confidence, providing further support for Dogecoin’s rise.
Justin Sun’s $6.2 Million Investment
Justin Sun, founder of the TRON (TRX) blockchain platform, purchased Maurizio Cattelan’s artwork “Comedian” for $6.2 million. The piece, famously consisting of a banana duct-taped to a wall, is known for pushing the boundaries of contemporary art.
The auction at Sotheby’s in New York began with a starting price of $800,000, quickly escalating to $5.2 million amid intense interest. Including auction fees, Sun became the owner for $6.2 million.
After the purchase, Sun remarked, “This is not just an artwork; it represents a cultural phenomenon bridging the worlds of art, humor, and the crypto community. I believe this piece will inspire more thought and discussion in the future and become a part of history.”
BTC:
The percentage of those profiting from the market price has dropped from 100% to 98%.
According to ITB analyses, there are currently “4 neutral” and “1 bullish” market expectations. There are no bearish market expectations.
We observe that transactions exceeding $100,000 have reached a new record, rising from $230.18 billion to $243.67 billion.
Additionally, due to Thanksgiving in the U.S., markets will be closed on Thursday. Following Thanksgiving, markets will close early on Friday at 1:00 PM. Since it is the last trading day of the week, market volume may be low, and unexpected price fluctuations could occur. Investors trading on U.S. markets should proceed cautiously, keeping this in mind.
Wishing you a fantastic week filled with success and happiness! 🍀💰
“The investment information and comments in this research report are not intended as investment advice.”
Uzmanlık alanlarım arasında temel ve teknik analiz, portföy yönetimi, risk analizi ve pazar araştırması bulunmaktadır. Hızla değişen piyasa koşullarına uyum sağlama ve rapor üretme benim önceliklerim arasındadır. Finansal geleceğinizi şekillendirmek ve karar alma süreçlerinize değer katmak amacıyla araştırmalarımı EgeMoney platformu üzerinden sizlere sunuyorum.
