a16z points out in a recent article that Bitcoin faces issues with governance efficiency and proactive migration, making it urgent to shift to quantum-resistant digital signatures. If the community cannot reach consensus, a hard fork may occur. In addition, holders must proactively migrate their assets, and millions of bitcoins vulnerable to quantum attacks could lose protection as a result.

JPMorgan's latest analysis points out that although the US stablecoin market is expanding rapidly under the impetus of the GENIUS Act, its grand goal of "boosting demand for US short-term Treasuries" may fall far short of policymakers' expectations. Since the act was passed in July, the total supply of stablecoins has increased by over $50 billion, surpassing $300 billion in scale, but it is still far from the White House's previous target of $2-4 trillion by 2028–2030. JPMorgan's Head of US Short-Term Rate Strategy, Teresa Ho, stated that while stablecoins have strong growth momentum, it is "unrealistic" to expect them to grow to several trillion dollars within a few years. The bank expects that in the next few years, the stablecoin market size may reach about $700 billion, mainly limited by current laws prohibiting the issuance of interest-bearing stablecoins—a restriction that weakens the core driver of demand growth.

Cloud computing startup Fluidstack is raising around $700 million in new funding, with the company expected to reach a valuation of $7 billion. An investment firm founded by a former OpenAI researcher is expected to lead the round, with Google’s parent company and Goldman Sachs also participating.

金色财经报道，美国投资公司协会（ICI）：美国货币市场基金资产达到创纪录的7.65万亿美元。

Nomura Securities' Chief Economist Robert Subbaraman expects the US economy to remain strong, with a growth rate of up to 2.5% in the first half of 2026. He said this outlook is driven by the AI investment boom and fiscal expansion, while also expecting the Federal Reserve to cut interest rates in 2026, with consumer inflation likely to stay around 3%.

Malaysian authorities are cracking down on illegal Bitcoin mining, with losses reaching as high as $1 billion. They are employing a combination of high-tech and traditional methods for enforcement, including drone surveillance and handheld sensor detection. The government will strengthen regulations to curb this issue.

The cryptocurrency market has rebounded, with Bitcoin rising 6.6% in 24 hours to reach $93,000. However, put option trading on the Deribit platform remains higher than call options, and the open interest for CME Bitcoin and Ethereum futures has dropped to its lowest level since February 2024.

According to ChainCatcher news and Coinglass data, if ETH falls below $2,671, the cumulative long order liquidation intensity on mainstream CEXs will reach $1.414 billion. Conversely, if ETH breaks above $2,944, the cumulative short order liquidation intensity on mainstream CEXs will reach $1.22 billion.

BlockBeats news, on December 2, Grayscale Research stated in its latest report that Bitcoin could reach a new high in 2026, countering market concerns that Bitcoin will enter a prolonged period of low performance. Grayscale pointed out that while long-term investors have historically been able to benefit from fluctuations, they often also have to "endure sometimes quite challenging pullbacks." It is common for pullbacks of 25% or more to occur during a bull run, and it does not necessarily indicate the start of a long-term downtrend.

The latest report from Grayscale Research shows that Bitcoin is expected to reach a new all-time high in 2026, contrasting with the traditional four-year cycle theory. This theory suggests that Bitcoin prices experience significant pullbacks after each Halving cycle, but Grayscale analysts point out that this bull run has not seen the parabolic rise typical of previous cycles, with institutional funds more concentrated in ETFs and digital asset treasury rather than retail investor spot trading. Since the beginning of October, Bitcoin has experienced a volatility drop of 32%, with prices remaining low for most of November, but recently rebounding to around $86,900. Grayscale indicated that a pullback of 25% or more is not uncommon in a bull run and does not necessarily mean that the long-term trend will turn bearish.

Golden Finance reported that Bitcoin treasury company Strategy has updated its profit expectations for the fiscal year 2025, estimating that if the Bitcoin price is between $85,000 and $110,000, the operating revenue for the fiscal year 2025 will be between $7 billion and $9.5 billion, with a net income of between $5.5 billion and $6.3 billion, and earnings per share of between $17.0 and $19.0.

Odaily News In response to Arthur Hayes' doubts about USDT operations, former Citibank encryption research head Joseph stated on the X platform that @CryptoHayes' analysis missed several key points: 1. Disclosure of assets ≠ all corporate assets. USDT adopts a "matching principle" for disclosing reserves, but its undisclosed balance sheet includes equity investment income, mining operations, corporate reserves, and potential Bitcoin holdings, with remaining profits distributed to shareholders in the form of dividends. 2. Extremely high profit margins and equity value. Tether holds $120 billion in U.S. Treasury bonds (annualized 4% yield), with a projected annual net profit of about $10 billion from 2023 (with only 150 employees), making it arguably the world's most efficient money printer; equity valuation may reach $50-100 billion.

According to ChainCatcher news and CoinDesk reports, Tether will shut down its mining operations in Uruguay and lay off 30 out of 38 employees due to its failure to reach an agreement with Uruguayan authorities on energy prices. Tether had originally planned to invest $500 million in Uruguay, but decided to withdraw due to high energy prices and regulatory hurdles. Before deciding to gradually cease operations in Uruguay, Tether had already invested over $100 million in the country and committed to reinvest an additional $50 million for infrastructure development.

Recent analyst reports indicate that XRP is showing a structural trend similar to Ethereum's in 2016-2017, attracting market attention. Ethereum skyrocketed from $20 to $1,400 after a long accumulation phase that year, while XRP is currently oscillating in the $2-3 range, being considered in a similar accumulation phase. Analyst Paul GoldEagle pointed out that the rise of XRP in January this year (over 600%, to $3.40) is just the "tip of the iceberg" and the consolidation indicates a potential parabolic rise, with a price target that could reach $60, equivalent to Ethereum's historic gains.

PANews, November 28 - Goldman Sachs warns of "cracks" in the U.S. labor market. WARN filings related to planned large-scale layoffs have risen to their highest level since 2016 (excluding the pandemic peak); Challenger statistics show that layoff announcements in October are close to recession levels, primarily from technology, industrial goods, and food and beverage sectors. Goldman Sachs states that layoffs combined with low hiring rates make it harder for the unemployed to find reemployment. Initial jobless claims remain low, but they usually lag behind private layoff data by about two months and may rise in winter. Amazon plans to cut about 14,000 corporate jobs this fall. Goldman Sachs indicates that there is currently insufficient evidence to determine AI as a major driver of layoffs.

The decentralized oracle network RedStone predicts that the RWA market will rise from $35 billion to between $50 billion and $60 billion, with private credit being the largest category. Tokenized stocks are expected to grow rapidly, and AI agents will also become the main users of on-chain data, with a market size reaching over $15 billion.

Jinse Finance reports that major banks on Wall Street are preparing to achieve new successes in emerging markets, expecting that a weak dollar and the investment boom in the field of artificial intelligence will provide further momentum for this asset class. These favourable factors are expected to drive further rises in emerging markets, with local currency bonds offering investors a return of 7%, the best performance since 2020, and the currency index also rising more than 6%. Morgan Stanley strategists point out that as the US economy slows down, the Fed may further cut interest rates, which will support the continuation of market gains. The bank advises clients to maintain long positions in emerging market local currency bonds, expecting returns to reach around 8% by mid-2026. For emerging market dollar bonds, it forecasts a "high single-digit" rise over the next 12 months.

The crypto asset management company Bitwise has submitted an updated S-1 filing to the SEC in preparation for the launch of its Avalanche ETF. The filing reveals details such as management fees, stock codes, and fee waiver policies. Driven by this news and the overall rise in the crypto market, the AVAX price has increased by more than 7% over the past 24 hours, with a weekly rise of over 17%, reported at $14.94, and the 24-hour volume has also risen nearly 15%. According to the latest documents, Bitwise plans to list on the NYSE Arca with the stock code "BAVA." The fund management fee is 0.34%, and it offers a one-month full management fee waiver or a waiver of management fees until the assets under management reach $500 million. This is similar to its other altcoin ETFs. If approved, the fund will provide investors with AVAX investment opportunities and additional rewards through AVAX staking.

The Philippine Digital Asset Exchange (PDAX), Saison Capital, and Onigiri Capital jointly released the White Paper "Project Bayani: Opportunities for Asset Tokenization in the Philippines" today, pointing out that the potential for the Philippines to transform its Capital Market through asset tokenization is as high as $60 billion. The report depicts a future scenario where millions of Filipinos already using mobile Wallets and Crypto Assets will leapfrog traditional finance stages to hold investment products such as government bonds, stocks, and mutual funds in tokenized form.

ChainCatcher news, JPMorgan published an article stating that crypto assets are transitioning from a "venture capital-style ecosystem" to a macro asset class "supported by institutional liquidity rather than driven by retail investor speculation." In the early stages, crypto projects relied on private equity financing, lacking liquidity structures, with retail investors typically entering the market after high valuations. Nowadays, the participation of retail investors has significantly decreased, and the market relies more on institutional investors to stabilize cash flow, reduce volatility, and anchor long-term prices. Currently, Crypto Assets still have investment value, but structurally they remain inefficient, with uneven Liquidity distribution, leading to huge price fluctuations. Price performance is more affected by macroeconomic factors rather than traditional halving cycles. An analyst pointed out that in the long run, Crypto Assets prices could reach $240,000, so they should be viewed as a field with years of growth potential.

American banks are cautious about the stock market, expecting the S&P 500 index to reach 7100 points by 2026, but with weakened Liquidity support, market fluctuations will be between 5500 and 8500 points. Profit growth and market returns may not be synchronized, so follow the market changes in artificial intelligence and consumer goods.

Odaily News Jefferies' analysis report shows that the stablecoin issuer Tether currently holds 116 tons of physical gold, making it the "largest gold holder outside of Central Banks," with reserves comparable to those of Central Banks in countries like South Korea, Hungary, and Greece. In the last quarter, Tether's gold purchases accounted for nearly 2% of global gold demand and nearly 12% of Central Bank purchases, and its aggressive acquisition behavior may have affected short-term market supply and investor sentiment. Investors cited by Jefferies believe that Tether plans to acquire another 100 tons of gold by 2025. With an expected profit of $15 billion this year, this goal seems within reach. Additionally, Tether has invested over $300 million in precious metal producers and has issued gold-backed Token Tether Gold.

Chainlink co-founder Sergey Nazarov stated that Decentralized Finance (DeFi) has currently achieved an adoption rate of about 30%, and it is expected to reach 100% by 2030. He pointed out that regulatory clarity, investment pathways for institutional users, and comparisons of DeFi's capital base with TradFi are key factors in achieving a higher adoption rate.

Golden Finance reported that Nvidia stated on Tuesday that its technology remains a generation ahead of the industry in response to Wall Street's concerns about Google's AI chips potentially threatening Nvidia's dominance in AI infrastructure. Nvidia said, "We are pleased with Google's success—they have made significant progress in the AI field, and we will continue to provide products to Google. Nvidia currently leads the industry by a generation—we are the only platform that can run all AI models and is versatile across various computing scenarios." At the time of this statement, Nvidia's stock fell 3% on Tuesday, following reports that one of its key clients, Meta, may reach an agreement with Google to use Google's Tensor Processing Units (TPU) in its data centers. Nvidia stated in the post that its chips are more flexible and powerful compared to so-called ASIC chips (like Google's TPU), which are typically designed for a single company or single function.

PANews November 25 news, crypto assets analyst James Wynn stated on social media that Bitcoin could reach $67,000 this weekend or earlier. He believes there is strong support and buying pressure in this price range, and the probability aligns well with market trends. However, he emphasized that this is just a probability-based prediction, and there is still uncertainty in the market. According to previous news, data: Huang Licheng was liquidated 71 times in Hyperliquid in November, followed closely by James Wynn and Andrew Tate with 26 and 19 times respectively.

On Monday, a Block Trading trader bet that the price of Bitcoin would continue to rebound until the end of the year, expecting the price to break the 100,000 USD mark again, but not reach a new all-time high. This is a massive "bullish vulture" Options strategy with a notional value of 20,000 Bitcoins (1.76 billion USD), betting that the price of Bitcoin will continue to rise above 100,000 USD before the end of the year. Bitcoin, as the highest market capitalization cryptocurrency, has rebounded from last week's low of nearly $80,000 to about $88,000. Although this rebound is mainly driven by market expectations of a 25 basis point rate cut by the Federal Reserve in December, institutional buying has not yet returned for spot ETFs. According to SoSoValue, on Monday, 11 spot ETFs recorded a net outflow of $151 million.

Bank of America predicts that gold prices could reach $5,000 per ounce by 2026, due to factors such as supportive economic policies and tight supply. The average gold price for next year is expected to be $4,538, while also raising forecasts for other metal prices.

BlockBeats news, on November 24, well-known Chinese crypto analyst Banmuxia posted on social media that the current rebound of Bitcoin is quite weak, which increases the probability of continuing to reach new lows. However, $85,000 is still a good long term entry position. It is emphasized again that the market will be very complex in the next three to four months, and only Spot can avoid unnecessary miss out emotions and trading losses. Only when this Bear Market is completely over is it the time for long positions.

Crypto assets expert Chad Steingraber posted on X predicting that the Franklin Templeton XRP ETF, once launched, could see a volume of up to 30 million dollars. The fund received listing approval from the New York Stock Exchange last week and is set to officially go live today. He expects the fund's trading volume on its first day to reach the equivalent of 15 million XRP and aims to hit 50 million XRP. Steingraber mentioned that Franklin Templeton usually launches new products cautiously. Real growth will be gradual, and it will take a certain performance record for financial advisors to start recommending the product.

KobeissiLetter's market analysis shows that when the Volatility Index VIX exceeds 28.7, the S&P 500 index typically generates strong returns in the following 12 months. Historical data indicates that when VIX is above 33.5, the return can reach +27%. The current VIX index is 23.42.

Renowned analyst PlanB stated that his view has not changed since 2019, predicting that Bitcoin's market capitalization will increase to $1 trillion from 2020 to 2024, and will reach $10 trillion by 2028, with prices of approximately $50,000 and $500,000 respectively.

BlockBeats news, on November 21, New York Fed President Williams: Given that current policies are somewhat tight, the Fed may still cut interest rates in the short term. The inflation process is stagnant, but it is expected to reach the 2% target by 2027.

BlockBeats news, on November 21, reported by Bloomberg, despite the recent fall in the crypto market, Tom Lee still believes that Bitcoin will reach 150,000-200,000 USD by the end of January next year. It is worth noting that Tom Lee made a similar judgment in September during the 2025 Korea Blockchain Week Impact summit, where he predicted that Bitcoin would reach 200,000-250,000 USD by the end of the year, and the target for Ethereum was 10,000-12,000 USD.

A year ago, the software company MicroStrategy, which was the first to invest in Bitcoin as a corporate financial asset, saw its stock price reach an all-time high of (MSTR), while Bitcoin also approached the $100,000 mark for the first time. However, the world is unpredictable. Now, the stock price of MicroStrategy has fallen 68% from its peak of $543 set just days after President Trump's election victory, and the price of Bitcoin has also dropped to $83,142, hitting its lowest level since April. On the largest compliant exchange platform in the U.S., the price of Bitcoin has dropped even more, briefly falling to $81,385 on Friday. Currently, MicroStrategy's average purchase price is around $74,430, which remains a key price point to watch.

ChainCatcher news, according to Jin10 reports, Jussi Hiljanen, chief strategist of the research department at Nordea Bank in Sweden, stated in a report that he still expects the yield on the 10-year U.S. Treasury bond to fall to 3.9% in the first quarter of 2026. He pointed out that to achieve this goal, the market must re-establish confidence in the Fed's rate-cutting path. Although recent hawkish remarks from Fed officials have increased uncertainty in the short term, he emphasized that a shift to a more accommodative policy stance, a reduction in interest rate expectations, and lower yields remain his benchmark scenario in the next three to four months.

Gate News Bot news, on November 21, according to CoinMarketCap data, BAS (BNB Attestation Service) is currently priced at $0.01, having risen 27.17% in the last 24 hours, reaching a high of $0.01 and a low of $0.00. The current market capitalization is approximately $158,000, an increase of nearly $33,700 compared to yesterday. Important news about BAS recently: 1️⃣ **Large holders actively entering the market to pump prices** BAS has recently seen significant large-scale buying activity, with major holders (commonly referred to as "whales") showing a notable increase in interest in BAS. This buying pressure has directly driven the rapid rise in BAS's price, helping it to reach a new all-time high. 2️⃣ **Increased market attention drives trading volume growth**

Golden Finance reported that Nasdaq-listed Bitcoin mining company Cipher Mining announced a 10-year AI high-performance computing (HPC) hosting protocol with Fluidstack. This agreement is expected to bring Cipher Mining approximately $830 million in revenue during the initial 10-year term and includes two five-year renewal options. If the renewal options are exercised, the total revenue from the deal could reach approximately $2 billion.

Wall Street expects the non-farm payrolls in the U.S. to reach 50,000 in September, up from 22,000 in August. In addition, the U.S. unemployment rate is expected to remain unchanged at 4.3%. Due to the rise in employment and the significant decrease in the possibility of a Fed rate cut in December, participants in the Crypto Assets market are on high alert, ready to respond to market Fluctuation. The U.S. Bureau of Labor Statistics (BLS) will release the non-farm payroll and unemployment rate data for September on November 20. As this is the first key employment data released after the U.S. government shutdown for 43 days, this employment data release could have a significant impact on Bitcoin prices and the direction of the Crypto Assets market.

Golden Finance reports, Politico: The White House is set to announce a major new peace protocol reached with Russia. Officials say the protocol will ultimately end the ongoing three-and-a-half-year Russo-Ukrainian conflict. A senior White House official revealed that parties are expected to reach an agreement on the framework to end the conflict by the end of this month, and even "as soon as this week" it could be finalized.

Golden Finance reports that U.S. officials expect Russia and Ukraine to reach a framework protocol by the end of November. (Politico)

According to BlockBeats news on November 19, data from the Polymarket website shows that the probability of the total amount raised by Monad in the public sale reaching 300 million USD is currently reported at 93%, the probability of reaching 400 million USD is currently reported at 83%, while the probability of reaching 600 million USD is only 40%.

Crypto Assets entrepreneur Mike Alfred stated that the U.S. government may only incorporate Bitcoin into its strategic reserves after actions are taken by other countries. He predicts that the price of Bitcoin will reach $1 million by 2033, at which point governments around the world will widely hold this asset.

According to Coinglass data, if Bitcoin breaks through $93,000, the short order liquidation intensity on mainstream CEX will reach $1.186 billion; if it falls below $89,000, the long order liquidation intensity will reach $1.155 billion. The liquidation chart shows the relative strength of liquidation clusters rather than precise contract data, emphasizing the liquidity response that may be caused by price fluctuations.