The market is in a strong pullback phase, with total capitalization down 4.28% to $3.54 trillion in the past 24 hours, mainly due to the Fed signaling no further rate cuts (based on strong U.S. labor data). Bitcoin dominance has increased to 60.22%, indicating that BTC is 'safer' than altcoins. Trading volume surged to $210.2 billion (+108%), mainly from stablecoins (98%).
• The market is dumping due to macro: Fed officials signal no more rate cuts, a strong USD makes crypto weaker. BTC -2.9% down to ~107k (from CryptoNews), ETH -4.5% down to 3,713 (Yahoo Finance). Total cap decreased 3.5% to 3.69T. Uniswap and DOGE dumped the hardest (-9% and -6.9%).
• MicroStrategy accumulates: Purchased an additional $45M worth of BTC last week (mainly from stock sales), total holdings ~292k BTC. Saylor predicts BTC will reach $150k by the end of 2025, even $1M in 4-8 years.
• Major events in Nov: EtherFi votes to buy back $50M ETHFI (ends today); Lighter launches spot trading; Aerodrome upgrades technology; Folks Finance debuts token. Could trigger momentum if the market rebounds.
• Regulations & Projects: Ripple launches spot prime brokerage in the US after acquiring Hidden Road. Coinbase intensifies stablecoin efforts (20% revenue in Q3 from USDT/USDC). Balancer was exploited for over $116M. Tether's top 20 holders owe the US $10B.
• Seasonality & Forecast: Nov historically strong for BTC (mean +42% since 2013, but median only +8.8% due to outlier in 2013). Awaiting US data this week (JOLTS, payrolls) – if weak, rate cut bets increase, crypto pump.
