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Bitcoin’s recent drop below its realized price points to bearish trends, with potential lows of $66,575 if selling pressure persists.
Some developing countries are viewing Bitcoin as a means to achieve financial autonomy and reduce reliance on the US dollar.
DOGE has dumped the most from the larger-cap alts.
Quick Take This is an excerpt from the thirteenth edition of The Funding sent to our verified subscribers on Nov. 3. The Funding is a fortnightly newsletter written by Yogita Khatri, The Block’s longest-serving editorial member. To subscribe to the free newsletter, click here.
Coins LUCE, GRASS, and ZEREBRO are trending on Solana, showing strong demand, transaction growth, and potential for gains.
The accusations led to swift action from OpenEden, which terminated Ng, and DWF Labs, which withdrew its funds and condemned his alleged behavior.
As Solana's price remains above critical support levels, explore what analysts expect for SOL in November following its impressive October rally.
- 02:57Someone Earning $15 Million in Smart Money is Shorting ETH, BTC, AVAX, SOL, and USUALAccording to a report by Jinse Finance, monitored by the on-chain analysis platform Lookonchain (@lookonchain), a smart money that made a profit of $15 million on Hyperliquid is shorting ETH, BTC, AVAX, SOL, and USUAL. It has placed 100 limit orders to continuously short ETH at prices ranging from $2,460 to $2,480.
- 02:57U.S. Treasury Secretary Besent to Attend G7 Finance Leaders Meeting, Focus on Trade IssuesAccording to a report by Jinse Finance, a spokesperson for the U.S. Treasury Department stated on Sunday that U.S. Treasury Secretary Besent will attend the G7 finance leaders' meeting in Canada this Tuesday. He will seek to refocus the G7 on addressing trade imbalances and non-market economic behaviors. The Treasury Department spokesperson mentioned that Besent will also discuss with these officials how to achieve more growth driven by the private sector. Besent has also vowed to "re-privatize" the U.S. economy by cutting government spending and regulation, believing that the U.S. economy is overly reliant on the public sector for growth. Besent first had face-to-face discussions with G7 finance leaders on the sidelines of the International Monetary Fund (IMF) and World Bank meetings in April, but no joint statement was issued. (Jin10)
- 02:56Divergence in Crypto Market Trends as Bitcoin Challenges New Highs and Altcoin Season Index Drops to 24According to a report by Jinse Finance on May 19, data from Coinmarketcap shows a divergence in the crypto market trends. While Bitcoin is challenging new highs, the Altcoin Season Index has dropped from a recent high of 43 to 24. The Altcoin Index has been on a downward trend since reaching an annual high of 87 on December 4, 2024, falling to a low of 13, and after a rebound to 43 in May, it has declined again.