The Block
Bitcoin’s price continues to rise following the election of Donald Trump as the 47th president of the United States on Nov. 5.The cryptocurrency was breaking all-time highs even before his victory was official, first starting with $74,000 on Election Day.
Of the 6,500 A1566 miners, 500 miners have been immediately delivered and are scheduled for installation.Canaan’s NASDAQ-traded stock was up 32% in Monday morning trading.
Dogecoin, cardano, and shiba inu have outperformed bitcoin over the past week, surging 80%, 85%, and 50% respectively, amid a broader altcoin rally, amid reduced regulatory uncertainty, analysts said.Bitwise Europe reports that bitcoin whales have recently resumed accumulation, moving a net -17,400 BTC off exchanges, while miners’ limited exchange activity is helping stabilize prices.
MicroStrategy added approximately 27,200 bitcoin for roughly $2.03 billion in cash at an estimated $74,463 per coin.The bitcoin purchases were conducted between Oct. 31, 2024, and Nov. 10, 2024.
Quick Take Paradigm’s VP of Regulatory Affairs explains why it was a mistake for the Democratic Party to alienate crypto voters in the US
Quick Take Former Alameda Research co-CEO Sam Trabucco also agreed to hand over two apartments worth $8.7 million, according to the proposed settlement. Trabucco filed $70 million worth of proofs of claim against FTX, Alameda Research and other entities in June 2023.
Quick Take With bitcoin continuing to break new all-time highs above $80,000 following Donald Trump’s election victory last week, analysts at research and brokerage firm Bernstein urged investors to add exposure to the crypto industry “as soon as possible.” Business intelligence firm and the largest corporate bitcoin holder, MicroStrategy, has acquired another 27,200 BTC for $2.03 billion at an average price of $74,463 per coin. The FTX bankruptcy estate filed a $1.76 billion lawsuit against Binance and it
Quick Take Bitcoin options traders are paying significant premiums for call options, indicating growing optimism about future price gains, an analyst said. Meanwhile, implied volatility has eased post-election, and traders see this as an opportunity to acquire ‘cheap’ optionality as bitcoin’s spot prices shift into new price discovery, the analyst added.
Quick Take Bipartisan crypto legislation covering stablecoins and market structure will be more likely to pass under Trump’s second term but “will not be an initial priority,” TD Cowen researchers wrote in a note on Monday. Potential blockers include industry resistance to government oversight, particularly the Bank Secrecy Act and anti-money laundering precautions, and existing political gridlock.
Quick Take The crypto market witnessed $427 million worth of short positions liquidated on Nov. 6. The following is an excerpt from The Block’s Data and Insights newsletter.
