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💰 Digital asset funds hit record $31.3B inflows as Bitcoin leads the charge

Digital asset funds saw inflows of $1.2 billion last week, marking a fifth straight week of positive momentum, according to crypto asset manager CoinShares. The increase pushed year-to-date inflows to an unprecedented $31.3 billion, bringing global assets under management to a record $116 billion.

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🇺🇸 Detroit will become the largest US city to accept crypto to pay taxes and fees

Detroit will become the largest city in the United States to accept cryptocurrency payments, city officials announced Thursday. Residents can pay taxes and other city fees using crypto through a secure platform managed by PayPal. “Detroit is building a technology-friendly environment that empowers residents and entrepreneurs," Mayor Mike Duggan said in a release. “We are excited to be one of the first major U.S. cities to explore blockchains civic applications and allow residents to use their cryptocurrency as a payment option.”

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Forward from: Crypto | Bitcoin | Ethereum | Altcoin | News
🇺🇸 ETF FLOWS UPDATE (Nov. 7):

17,990 $BTC and 29,270 $ETH were bought from ETFs:

BTC ETFs: $1.3B net inflows

ETH ETFs: $79.7M net inflows

#bitcoin #ethereum #ETF #crypto

https://x.com/Crypto_Inside_/status/1854769489436434909?t=CbQMD_oiMrt1LB6wLorT0w&s=19

🤝 @Cryptocurrency_Inside


💰 BlackRock’s spot bitcoin ETF sees record-breaking $4 billion traded on Election Day

BlackRock’s iShares Bitcoin Trust (IBIT) logged its largest daily trading volume on Wednesday, U.S. presidential election day, which saw pro-crypto Republican candidate Donald Trump reclaim the White House. “For context, that's more volume than stocks like Berkshire, Netflix or Visa saw today,” Bloomberg Senior ETF Analyst Eric Balchunas commented on X.

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🇺🇸 Crypto stocks rally as markets react optimistically to Trump election victory

In premarket trading, stocks linked to the cryptocurrency market saw notable gains, with Coinbase up 12% and MicroStrategy climbing 13%, as markets reacted positively to Donald Trump’s election victory. Futures on the Dow Jones Industrial Average surged by over 1,312 points, or 3.1%, while S&P 500 futures gained 2.12% and Nasdaq 100 futures rose 1.53%.

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💰 Bitcoin as a US strategic reserve asset could create ‘monetary stability’ – BPI

Bitcoin’s maturity as a decentralized digital asset has spurred discussions on its role within national reserves, drawing interest from US policymakers. Bitcoin’s evolution from an experimental asset to a recognized financial instrument provides new strategic avenues for economic stability, geopolitical resilience, and energy policy.

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💰 Bitcoin price falls, forward volatility jumps as traders brace for election: Analyst

As former President Donald Trump's odds of victory on prediction markets have slipped following a spate of positive polling results for Democrats, even falling briefly below Vice President Kamala Harris' odds of victory on US-regulated market Kalshi, Bitcoin's price has fallen and volatility has widely increased. The price of Bitcoin had fallen from a recent high of about $72,600 on Oct. 31 to a low of about $67,500.

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🇷🇺 Russia's Sweeping Crypto Mining Regulations Take Effect, Setting Strict New Rules

On Nov. 1, the Russian government introduced a regulatory framework for cryptocurrency mining, marking the implementation of a law signed by President Vladimir Putin in August and published shortly before these rules took effect. The law formally defines mining as a legal activity in Russia, laying out security and operational requirements for miners and creating a structure for trading digital financial assets on specially approved platforms.

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🇺🇸 DOJ indicts Gotbit CEO for allegedly orchestrating massive wash trading scheme

The Department of Justice has indicted Aleksei Andriunin, founder and CEO of crypto financial services firm Gotbit, on charges of wire fraud and conspiracy to commit market manipulation. Andriunin, a Russian national residing in Portugal, allegedly orchestrated a scheme to artificially inflate trading volumes for client crypto companies, including several based in the US. He was arrested on Oct. 16.

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💰 Canary Capital joins Solana ETF race amid rising investor demand

Canary Capital filed for a spot Solana ETF with the Securities and Exchange Commission (SEC) on Oct. 30, seeking to establish a US-based spot Solana (SOL) exchange-traded fund. The fund, titled the Canary Solana ETF, is designed to “provide exposure to the price of Solana (‘SOL’) held by the Trust,” according to the S-1 registration statement. Canary Capital did not specify a custodian or administrator in the filing.

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🪙 Ethereum’s staking rewards rate remains at around 3%, lower than other proof-of-stake chains

The staking rewards rate on the Ethereum network stayed close to 3% during the third quarter of 2024, after a slight decline from just over 3.5% in the first quarter. The Block's data dashboard shows that the Ethereum Staking Reward Reference Rate, a metric representing the average annual returns that validators on the Ethereum network receive, is about 3.1% annually.

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Forward from: Crypto | Bitcoin | Ethereum | Altcoin | News
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💰 Bitcoin expected to face high volatility as ‘Trump trade’ and Q4 seasonality converge – Bitfinex

Bitcoin (BTC) is set for turbulent weeks ahead, with election uncertainty, the “Trump trade” narrative, and historically favorable fourth-quarter conditions creating a “perfect storm” for market movement, according to the latest “Bitfinex Alpha” report. Bitcoin has already demonstrated “whipsaw” price action following the 6% correction BTC underwent last week after approaching $70,000.

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💰 Peter Schiff Warns Bitcoin Investors: 'Get Ready for the Trump Dump'

Economist and gold advocate Peter Schiff, known for his skeptical view on bitcoin and fervent support of gold, has shared insights on both assets amid recent market shifts. Posting on social media platform X on Oct. 22, Schiff noted that, despite rising odds of a Donald Trump victory in the 2024 U.S. election, bitcoin has not followed the upward momentum seen in other Trump-related assets, such as stocks and real estate.

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💰 MicroStrategy 'highly unlikely' to be forced to sell bitcoin as stock reaches 25-year high, analysts say

Analysts at BitMEX Research argued MicroStrategy is “highly unlikely” to be forced to sell its bitcoin holdings based on its current debt structure. However, given the volatility of the cryptocurrency, “anything is possible,” they said. The business intelligence firm is the largest corporate holder of bitcoin, with 252,220 BTC, currently valued at over $17 billion, at a total cost of around $9.9 billion.

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💰 Bitcoin mining difficulty hits new all-time high amid record network hash rate

Bitcoin mining difficulty rose 3.9% on Tuesday to hit a fresh all-time high amid record seven-day moving average hash rate levels for the network. The difficulty adjustment came at block height 866,880, reaching a record of 95.7 trillion, according to blockchain explorer Mempool, breaching the prior peak of 92.7 trillion set in early September.

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💰 US spot bitcoin ETFs reach highest recorded total asset value after six-day inflow streak

The twelve US-based spot bitcoin exchange-traded funds have set a new record, logging the highest total net asset value since the launch of the funds in January. Summed together, the funds now hold over $66.1 billion worth of bitcoin, according to SoSoValue data, surpassing the prior record of $62.6 billion from early June. The value held in the ETFs represents 4.89% of bitcoin's total market cap.

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💰 Coinbase, Hut 8 lead crypto stocks higher as bitcoin inches towards $70,000 level

Bitcoin is on pace for its best weekly performance in over a month, with the world's largest cryptocurrency inching closer to reclaiming the $70,000 level. For the week, the price of bitcoin is up about 9% and trading around $68,800 at time of writing. Ethereum follows closely behind with a gain of 8.3% over the same period while Solana is up 7.2%, according to The Block's price page. Those gains outpace the rise in traditional market indices like the S&P 500 and the Nasdaq, which are up less than 1% over the past five trading sessions.

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💰 Bitcoin exchange reserves drop to multi-year low amid rising institutional demand: CryptoQuant

Bitcoin exchange reserves have reached their lowest levels ever recorded by CryptoQuant data dating back to October 2021. According to the data, more than 51,000 bitcoin have been withdrawn from major cryptocurrency exchanges over the past month. This trend is reducing the liquid supply of bitcoin and suggests that investors are withdrawing their coins as part of a long-term holding strategy.

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