💰 Bitcoin mining difficulty reach all-time high on US election day

Bitcoin mining difficulty has reached a historic peak, surpassing 100 trillion on the same day as the US elections, signaling an intense landscape for miners. On Nov. 5, Bitcoin’s mining difficulty jumped 6.24%, reaching 101.65 trillion at block height 868,896, setting a new all-time record. This marks the 23rd difficulty adjustment of 2024, with 14 of these increases pushing the total difficulty by 40% this year.

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@cryptomagazine

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💰 Bitcoin breaks new all-time high above $74,000 amid Trump's early lead on Election Day

Bitcoin's price has crossed the $73,737.94 mark to set a new all-time high, as the market processes Republican candidate Donald Trump’s early lead in the 2024 presidential election. Bitcoin has risen 9.5% over the past 24 hours to currently change hands at around $74,700, according to The Block’s price page.

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🪙 Ethereum Foundation launches Mekong Testnet ahead of Pectra upgrade

The Ethereum Foundation has introduced the Mekong Testnet, a short-term testing environment designed to allow developers to explore new features from the upcoming Pectra upgrade before its mainnet release. In a blog post on Nov. 7, the Foundation said the Mekong Testnet incorporates all Ethereum Improvement Proposals (EIPs) intended for Pectra. These proposals focus on enhancing various aspects of the Ethereum network, including user experience (UX), staking processes, and deposit and withdrawal mechanisms.

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@cryptomagazine

💰 Top 11 Bitcoin miners see monthly production rise 13% in October despite rising difficulty

The top 11 Bitcoin mining companies by market capitalization have achieved record monthly production levels in October, the highest since the April halving event. Data from Farside shows that every major publicly listed miner, except Terawulf, posted month-over-month production growth. Collectively, these companies increased production by 13%, bringing total Bitcoin mined in October to 3,630 BTC.

Source

@cryptomagazine

💰 MicroStrategy shares rise 10% after $2 billion Bitcoin acquisition at $74.4k

MicroStrategy has announced a major Bitcoin acquisition, securing approximately 27,200 BTC for $2.03 billion between Oct. 31 and Nov. 10, according to a Nov. 11 statement. This purchase comes amid a broader crypto market rally that has seen Bitcoin price rally to a new all-time high of more than $82,000.

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🪙 Trump confirms ‘DOGE’ efficiency dept. will be led by Musk and Ramaswamy as Dogecoin’s market cap swells

U.S. President-elect Donald Trump announced that he has chosen Tesla CEO Elon Musk and Strive Enterprises co-founder Vivek Ramaswamy to lead the Department of Government Efficiency. “Together, these two wonderful Americans will pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies,” Trump wrote in his announcement.

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@cryptomagazine

💰 Bitwise CIO believes investors are ‘still early’ until Bitcoin reaches $500k

Bitwise CIO Matthew Hougan believes that investors are “still early” until Bitcoin (BTC) claims the $500,000 price zone for Bitcoin (BTC). In a recent investor note, Hougan highlighted that the current environment makes him feel that the $100,000 mark could be “right around the corner.” Bitcoin registered a new all-time high of $93,523.65 on Nov. 13, marking its best day in history and a 130% year-to-date gain.

Source

@cryptomagazine

💰 US Bitcoin ETFs now hold 1 million Bitcoin worth $96 billion

US-traded spot Bitcoin (BTC) exchange-traded funds (ETF) collectively hold approximately 1.07 million BTC as of Nov. 14, worth nearly $96 billion at current prices. Bloomberg ETF analyst James Seyffart highlighted that the ETFs might soon surpass Bitcoin’s pseudonymous creator Satoshi Nakamoto’s stash, estimated at 1.1 million BTC.

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@cryptomagazine

💰 Bitcoin retail investor demand hits 52-month high as market momentum builds: CryptoQuant

Bitcoin’s retail investor activity has surged to a 52-month high, signaling a return of strong retail trading interest, according to CryptoQuant. Key metrics such as retail investor demand and funding rates indicate renewed enthusiasm fueled by surging altcoin markets and growing mainstream attention.

Source

@cryptomagazine

💰 Long-term holders are locking in profit after Bitcoin’s rally to new ATHs

Since Nov. 12, the Bitcoin market has entered a phase of significant profit-taking, with daily realized profits averaging around $5 billion — marking the highest profit levels in over a month, according to CryptoQuant data. On Nov. 12, Bitcoin investors recorded $5.1 billion in profits as the asset traded near $88,000. By Nov. 13, profits declined slightly to $4.75 billion but rose again to $4.8 billion on Nov. 14, with Bitcoin’s price reaching a new all-time high above $93,000.

Source

@cryptomagazine

💰 Crypto funds see $2.2 billion inflow, pushing 2024 total to $33.5 billion

Last week, digital asset investment products saw $2.2 billion in inflows, reflecting a broader market uptrend driven by Donald Trump’s recent victory at the just-concluded US presidential election. In the first half of the week, inflows peaked at $3 billion, lifting total assets under management (AUM) to an all-time high of $138 billion. However, Bitcoin’s record price performance during the period prompted an outflow of around $866 million, resulting in a net inflow of $2.2 billion.

Source

@cryptomagazine

🪙 Ethereum falls to 4-year low against Bitcoin as BTC breaks above $94k

Ethereum’s value against Bitcoin has reached a four-year low as Bitcoin’s price surpasses $94,000. The ETH/BTC trading pair fell to 0.03302 BTC, marking a significant decline from mid-2023 levels above 0.070 BTC. Bitcoin’s recent surge, hitting a new all-time high of $94,300 on Nov. 20, contrasts with Ethereum’s downward trend against Bitcoin. Since mid-2023, Ethereum has consistently lost ground, characterized by lower highs and lower lows on daily charts.

Source

@cryptomagazine

💰 SEC is 'engaging' Solana ETF applicants: report

The prospects for spot Solana exchange-traded funds are progressing, with the U.S. Securities and Exchange Commission "now engaging" on S-1 applications, according to Fox News reporter Eleanor Terrett, citing two people familiar with the matter. Equity exchange Cboe BZX on Thursday afternoon filed four applications for spot Solana ETFs, marking progress as firms look to get the SEC's sign-off. The exchange filed 19b-4 filings for proposals from VanEck, 21Shares, Bitwise Asset Management and Canary Capital.

Source

@cryptomagazine

💰 Bitcoin ETFs bring in over $6 billion in November after another $1 billion day

Bitcoin exchange-traded funds have attracted over $6 billion in November, including more than $1 billion on Nov. 21. Farside data shows total inflows reached $6.165 billion as of Nov. 21, with IBIT leading at $4.683 billion and FBTC following with $1.050 billion. On Nov. 21 alone, inflows amounted to $1.005 billion, marking a significant uptick in investment.

Source

@cryptomagazine

🪙 Ethereum futures open interest hits new all-time high of over $20 billion, signalling bullish momentum: CryptoQuant

Ethereum’s derivatives market may be signaling bullish momentum as futures open interest surged over 12% to an all-time high of $20.8 billion on Friday. This follows a 7% price increase over the past 24 hours that pushed Ethereum to $3,365, according to The Block’s price page. Open interest, which measures the total number of outstanding contracts in a derivatives market, has reached unprecedented levels for Ethereum.

Source

@cryptomagazine

💰 US Bitcoin miners face delays as customs hold Bitmain shipments over sanctions concerns

US Bitcoin mining operations are facing significant delays after the Customs and Border Protection (CBP) agency held shipments of Bitmain Antminer devices at multiple ports of entry, Blockspace reported on Nov. 25. Several mining companies have reported waiting as long as two months for the equipment, with one company citing holding fees exceeding $200,000 for 200 units.

Source

@cryptomagazine

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