Witness history! Bitcoin breaks through $89,000, cryptos concept stocks soar across the board.
Digital currencies started to surge fiercely over the weekend and continued to accelerate on Monday. The top digital currencies by market cap all skyrocketed. Ethereum and Solana both saw a cumulative increase of about 40% in the past 7 days, higher than Bitcoin's 31%. Dogecoin, supported by Musk, doubled in value over the week. Major Bitcoin holder MicroStrategy stated that it spent approximately $2.03 billion to buy around 0.0272 million bitcoins, marking the largest purchase since December 2020. Blackrock's Bitcoin ETF IBIT has an asset under management exceeding one of the largest gold ETFs, IAU.
"Trump 2.0", why is bitcoin skyrocketing while gold is plummeting.
Analysis suggests that 'Trump 2.0' may lean towards a 'small government' ideology, reducing government intervention and avoiding expansionary fiscal expenditures, which is bullish for bitcoin as a 'decentralized' asset. This cautious fiscal style also suppresses the safe-haven properties of gold, weakening its attractiveness as a hedge asset.
Daily Summary of Digital Currency (12th November 2024)
Market information shows that the current global crypto market cap is about $3.11 trillion, up 6.8% in the past 24 hours, surpassing the previous high of $3.069 trillion on November 9, 2021.
Express News | Trump is looking for candidates to support cryptos for financial institutions.
Bitcoin staged a 'Trump trade'! Hong Kong stocks crypto currency ETF full screen surge, rose more than 36% on the 5th day.
1. Bitcoin has become the biggest beneficiary of the 'Trump trade', soaring to nearly $0.082 million; 2. Hong Kong stock virtual currency ETF surged in response, with a single-day peak increase exceeding 8%; 3. Analysts unanimously bullish, shouting out: to $0.15 million by the end of the year!
Across the board breakthrough! Last night, these four numbers interpreted the "Trump trade".
1) 350, 6000, 44000, 88000 - Do you know the meaning of these series of numbers? 2) They represent the integer positions reached by Tesla, s&p 500 index, Dow Jones, and Bitcoin respectively yesterday's breakthrough.