Bitcoin Open Interest at All-Time High – SEC Meets with Hashdex

Bitcoin Open Interest at All-Time High

Open interest in Bitcoin long futures held by asset managers at the Chicago Mercantile Exchange (CME) reached an all-time high. At the end of October, the value of open interest rose to $1.98 billion from $1.04 billion at the end of October.

SEC Meets with Hashdex to Discuss Spot Bitcoin ETF Proposal

The US Securities and Exchange Commission (SEC) met with Bitcoin ETF applicant Hashdex this week. A rule change meeting at NYSE Arca on allowing the listing of shares in Hasdex’s Spot Bitcoin ETF took place on Monday, November 27th. According to the SEC note, two members of the SEC’s Office of the Chairman, three Hashdex members and one NYSE Arca member met.

JPMorgan Doesn’t Believe the Hype on DeFi and NFT Yet

JPMorgan noted that it is too early to get excited about the recent rebound in the DeFi and NFT space. “While we have no doubt that the recent revival in DeFi/NFT activity is a positive sign, we believe it is too early to get excited about it,” JPMorgan analysts led by Nikolaos Panigirtzoglou said in a report on Thursday, adding, “These are only tentative signs of revival.”

Crypto Thieves Stole $363 Million This Month

According to blockchain security firm CertiK, the Poloniex and HTX/Heco Bridge exploits and the KyberSwap flash loan attack were the three biggest incidents in November. The cryptocurrency industry experienced its most “damaging” month in terms of crypto theft, fraud and abuse in 2023, according to a blockchain security firm. In November, $363 million was stolen. In an X (formerly Twitter) post dated November 30, CertiK stated that approximately $316.4 million came from exploits alone, with flash loans causing $45.5 million in losses and $1.1 million lost in various exit scams.

MicroStrategy Purchased $593 Million Worth of Bitcoin in November

Technology company MicroStrategy bought even more Bitcoin, bringing its holdings to 174,530 BTC. MicroStrategy founder and president Michael Saylor announced that his firm purchased 16,130 BTC for $593.3 million this week. According to Saylor, the company, headquartered in Tyson, Virginia, has so far spent a total of $5.28 billion on Bitcoin.

Only 35% of Cardano Investors Profit

Cardano (ADA) has been one of the best-performing crypto assets in the market, gaining over 25% for the month. While the eighth largest cryptocurrency by market cap continues to hover around $0.38, bullish momentum has so far failed to hold its course as more than half of all ADA holders are still under unrealized losses.

Lido Launches a Product Made to Increase Yield

A team specializing in creating structured products for the volatile cryptocurrency market has launched a new return strategy for traders to earn additional returns for staking participants. On Thursday, Cega announced the launch of its Binary Currency product, offering 22% APY for staked Ethereum (stETH) and ETH holders. The product provides enhanced returns through options trading. Staked Ether currently offers a yield of around 3%. The new strategy comes as value-locked staking through Lido reaches new heights.

Partnership between Uniswap Labs and Talos

Popular decentralized exchange Uniswap has partnered with Talos, an investment technology firm, to provide decentralized finance (DeFi) liquidity to institutional investors. Uniswap Labs will offer its Trading APIs to Talos customers in a similar Talos order book format. The company also has plans to enable Talos customers to use the UniswapX ecosystem in the near future.

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BITCOIN(BTC)

Bitcoin is priced at $ 38,175 with a 1.2% gain as of today morning hours. On the 4-hour chart, we see that the ascending channel is still working successfully. Although $37,500 seems to have worked as support, exceeding the middle part of the rising channel should be the first target for now. In case of an upward breakout, there is a possibility of going to the $ 40,000 level towards testing the top of the channel. If there is a pullback, 36,500 seems to be the first strong support.

ETHEREUM(ETH)

ETH, which gained 2.10% as of morning hours, is priced at $ 2095. On the 4-hour chart, it is still moving within the horizontal band. We saw $2025 working as support. The first target should be to exceed the $2135 level, which is above the channel. Then, a rise up to $ 2200 can be seen. If there is a pullback, the first strong support seems to be the 2015 dollar zone.

RIPPLE(XRP)

XRP is priced at $0.6049 with a 0.78% gain as of morning hours. On the 4-hour chart, we can now consider $0.5981 as intermediate support. In the continuation of the upward movement, $ 0.62 is the first target, and if the rise continues, a price movement up to $ 0.65 can be seen. In case of a downward pullback, the first support zone seems to be between 0.59 and 0.5988. It seems to have formed a double bottom at the moment. In case the pattern works, the target is 0.6376 dollars.

AVALANCHE(AVAX)

AVAX is priced at $ 22.28 with a 4.16% gain in value as of morning hours. After the $20 level was regained, $22 seems to have been regained as well. It is now very important to ensure permanence here. The target is to maintain the $24 level. If this persistence is successful, an increase up to $ 27.45 can be seen. If there is a pullback, the first support now seems to be the $ 21 region.

SOLANA(SOL)

SOL is priced at $ 60.82 with a 2.56% gain as of morning hours. When we examine the four-hour chart, we see that Solana moves in a narrow band between the $ 59 and $ 61.40 levels. These levels can be followed as short-term support and resistance zones. With the break of the resistance level, it may be possible to see a rise towards the $ 66 level. In case of a pullback, there may be a pullback below the $ 59 level towards the $ 55 region.

CHAINLINK(LINK)

As of morning hours, LINK is pricing at 14.654 with a 1.68% gain in value. We see that the 15.200 and 15 zone, which we follow as resistance levels, cannot be broken upwards. In case of a pullback, the $ 14 level appears as an important support level. If it falls to this level, it can be followed as a reaction point. A rise towards the $16 level can be seen with an upward break of resistance levels.

IMX
IMX is priced at $ 1.3540 with a 5.77% gain as of morning hours. When we examine the four-hour chart, we see that the falling trend line is broken upwards. If this movement continues, the 1.4000 level can be followed as resistance. In case of a pullback, the 1.3000 level appears as support.

RNDR

RNDR is priced at $ 3.5554 with a gain of 3.70% as of morning hours. When we examine the daily chart, we think that the 3.4952 level was broken upwards. In case of persistence above this level, an increase towards the 3.800 level can be seen. In case of a pullback, 3.500 can be followed as a support level.