News & Research

CryptoQuant CEO Ki Young Ju said U.S. stocks continue to reach fresh highs even as analysts blame a deteriorating macroeconomic environment.

A buy-the-dip strategy could be valid if Bitcoin falls further, Russell Thompson, chief investment officer at digital asset investment firm Hilbert Group, said in an interview with Crypto Briefing. Thompson said the $80,000-$81,000 range could serve as first support from a technical perspective, while a trendline around $77,000 could act as second support. He added that Bitcoin would need to break above $87,000, the top of its recent range, to confirm a clear bullish reversal. If it closes above that range ceiling on a daily basis, BTC could rise to $93,000-$97,000, Thompson said. He also said spot ETF outflows, rising oil prices amid conflict in the Middle East, and concerns over additional rate hikes by the Federal Reserve remain pressure factors for Bitcoin.

The UK High Court ruled that Chinese law, rather than UK law, applies to a dispute over the recovery of 61,000 BTC tied to the Qian Zhimin case, which involved laundering large sums between China and the UK. The court found the legal basis for ownership claims brought by Chinese investors lies in China. As a result, more than 16,000 Chinese victims who joined the UK recovery process are unlikely to receive distributions based on gains from Bitcoin’s price appreciation under UK law. Experts said the victims will most likely be compensated only for principal and statutory interest under China’s legal system, while cross-border talks over whether the remaining gains should be confiscated and transferred to state coffers could emerge as a new issue in asset return negotiations. Qian had previously been sentenced in the UK to more than 11 years in prison for laundering the proceeds of an investment fraud in China targeting around 130,000 people through BTC, and UK police had seized 60,000 BTC in connection with the case.

Major crypto-themed stocks listed in the U.S. turned higher during trading. Strategy (MSTR) rose 2.04%, while Coinbase (COIN) gained 2.08%. American Bitcoin (ABTC) jumped 6.73%. Other related stocks also traded higher, including Circle (CRCL), up 0.91%, BIT Mining (BMNR), up 1.01%, and Robinhood (HOOD), up 0.34%.

The three major U.S. stock indices opened mixed today. - S&P 500: +0.07% - Nasdaq: -0.15% - Dow Jones: +0.03%

Bitmine said it bought an additional 12,532 ETH last week, bringing its total holdings to 6.03 million ETH. Of that amount, 5,067,309 ETH is currently staked. The company said its ETH holdings account for 4.9% of total supply, meaning it has reached 99% of its goal to secure 5% of the total supply.

On-chain analyst Darkfost said on X that Binance’s share of Ethereum futures open interest has reached about 49%, the highest level since 2023. Since late September, ETH has fallen about 10% from $2,775 to $2,500, and Binance’s dollar-denominated open interest has declined by $600 million. However, open interest measured in ETH has recovered to about 2.46 million ETH, back to late-September levels. Darkfost said futures market participation has held up despite the price correction and large-scale long liquidations.

An address tied to SkyAI, formerly Sharp Technology, transferred 211,623 SOL worth $23.49 million to Coinbase Prime about 30 minutes ago, EmberCN reported. Including this latest exchange transfer, EmberCN said SkyAI is estimated to have sold about 1.25 million SOL worth $138 million over the past five days. SkyAI had said in a disclosure announced yesterday that it recently sold about 1 million SOL.

Australia’s Securities and Investments Commission has proposed applying leverage caps and retail investor protection rules to some cryptocurrency-settled contracts for difference products, Cointelegraph reported. The regulator plans to extend existing CFD rules, which now apply to cash-settled contracts or those settled by offsetting obligations between counterparties, to contracts settled through digital asset transfers. Contracts could fall under the rules if they meet CFD requirements even when the underlying asset is not a cryptocurrency. Some crypto futures and options contracts with fixed expiry dates would be excluded. Public comments will be accepted through Nov. 9, according to Cointelegraph.

Bithumb announced the addition of Gitcoin (GTC) to its KRW and USDT trading pairs. Trading is set to begin at 10:30 a.m. UTC today.