$2 Billion Bitcoin Transfer from Mt. Gox
Bankrupt crypto exchange Mt. Gox has transferred 30,371 BTC (worth about $2 billion) from its cold wallet, which could signal that creditor payments are approaching. On Sunday, 27,871 BTC was sent to a new wallet and 2,500 BTC was sent to cold storage. The move mirrors previous trading patterns associated with payee payments made on exchanges such as Bitstamp and Kraken. Mt. Gox, which crashed in 2014 as a result of a massive hack, still holds 44,378 BTC, and creditor payments have been postponed to Oct. 31, 2025.
64% Drop in Polymarket with Trump Victory
Decentralized prediction marketplace Polymarket has seen a 64% drop in open interest volume following Donald Trump’s victory in the Nov. 5 U.S. presidential election. Open interest fell from $510.95 million on Nov. 5 to $184.16 million as of Nov. 8. More than $3.6 billion was bet on the outcome of the election between Trump and Kamala Harris. While CEO Shayne Coplan stated that Polymarket provides unbiased data, a user named “Theo” made a massive $45 million bet in favor of Trump, sparking discussions of market manipulation. However, Polymarket did not detect any manipulation, stating that large positions are balanced on both sides thanks to the peer-to-peer structure.
MicroStrategy’s Bitcoin Portfolio Surpasses $20 Billion
MicroStrategy’s Bitcoin holdings have surpassed $20 billion, and the company has achieved a 104% return on investment. The firm, which is the largest institutional Bitcoin holder with 252,200 BTC, is pursuing its “21/21” plan to buy an additional $42 billion in Bitcoin. Bhutan’s Bitcoin reserves have also surpassed $1 billion, reaching 32% of its GDP. El Salvador’s assets of 5,930 BTC are worth $482 million, an unrealized profit of 80%, and the country continues its dollar-cost averaging strategy by buying 1 BTC every day.
Solana Reaches $100 Billion Market Cap
Solana surpassed $100 billion in market capitalization, reaching $212 for the first time in three years. This comes on the heels of a broad crypto rally triggered by Bitcoin’s new all-time highs and the U.S. Federal Reserve’s interest rate cuts. Solana is the fourth cryptocurrency to surpass this level after Bitcoin, Ethereum and Tether, and there is talk that it could approach Ethereum’s market cap. Solana, which has rebounded since the collapse of FTX and Alameda Research in 2022, has found support from retail and DeFi activities. Analysts note that SOL’s breakout from the previous consolidation channel could signal the beginning of a strong bull market.
FTX Files 20 Lawsuits for Missing Assets
FTX has filed 20 new lawsuits to recover millions of dollars lost through political donations, fraudulent investments, and market manipulation. Among the lawsuits, the makers of the video game Storybook Brawl and names such as Anthony Scaramucci were targeted. FTX is taking legal initiatives to recover left-leaning political donations made with customer assets. A prominent lawsuit targets Nawaaz Mohammad Meerun, nicknamed “Humpy the Whale,” who allegedly caused more than $1 billion in losses to FTX and Alameda Research. FTX also wants to recover assets lost due to bankruptcy through lawsuits against exchanges such as Crypto.com and KuCoin.
Trump Victory Moves Bitcoin Above $81,000
After Donald Trump’s U.S. presidential victory, Bitcoin surpassed $81,000 and experienced a strong rise in the crypto sector. Trump’s crypto-friendly stance and the prospect of a more conducive congress have spurred the industry into action. Trump’s promise to make the U.S. the center of the crypto industry has created a positive mood among investors, with Bitcoin outperforming other investments, gaining 93% in 2024. ETFs such as BlackRock’s iShares Bitcoin Trust have attracted attention with record fund inflows, and Trump’s endorsement is seen as a watershed moment for the crypto industry in the United States.
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BITCOIN (BTC)
BTC is priced at 81,417 with a loss of 1.30% as of the morning hours. In this uptrend, the 75,000 level stands out as a psychological support. If the price corrects, there may be buyer interest at this level. 77,199.99 and 73,620.12 are other important support points. If the uptrend continues, levels of 82,000 and above can be targeted. Overall, the trend is upward, and as long as it stays above the support levels, the uptrend can be expected to continue.
ETHEREUM (ETH)
ETH is priced at $3208 with a 0.81% gain in value as of the morning hours. Following the uptrend, the 3,175 level stands out as an important support. If the price stays above this level, it may increase the likelihood of the uptrend continuing. In a possible pullback, there is support at the 3,050 level. In case of a deepening of a downward movement, drops to the 2,819 level can be observed. In the continuation of the upward movement, $3500 can be targeted.
RIPPLE (XRP)
XRP is priced at $0.5959 with a loss of 1.34% as of the morning hours. The price appears to have risen to the 0.60 level, but there is a slight pullback as it has encountered strong resistance at this level. The price is trying to hold on to the support area in the 0.58 area. As long as it remains above this level, there is a possibility that the upward movements will continue. If the price retests the 0.60 resistance and manages to break it, the uptrend can be expected to continue. However, if persistence is sustained below the 0.58 level, the price could pull back to the 0.56 area.
AVALANCHE (AVAX)
AVAX is priced at $32.47 with a loss of 1.79% as of the morning hours. The price has experienced a slight pullback after testing the resistance at 32.95. As long as there is no close above this resistance level, it is possible that the price will face selling pressure from this level and retrace slightly. In case of a possible pullback, a corrective move towards the support level in the 29 area can be observed. This support level stands out as a critical level for buyers to re-engage. If the price finds support in this zone and rises again, a further upside move can be expected if it breaks above the 32.95 resistance.
SOLANA (SOL)
SOL is priced at $198.00 with a 0.83% gain in value as of morning. After breaking the resistance zone at 183.38, the price quickly rallied and is now at 210.59. This bullish movement suggests that buyers are entering the market strongly. However, in case of profit-taking from these levels, the 183.38 level can be followed as an important support. If the price declines to this support level and finds buyers again, the possibility of further upward movement becomes stronger. Conversely, a break below this level could herald a deeper corrective move.
