Key News Highlights

  • Delphi Digital Analysis: $98,900 could be the November low if the market continues its bullish trend.
  • US Treasury sanctions a North Korean money laundering network involving 54 digital currency addresses.
  • Gemini plans to enter the prediction market with the launch of event contracts.
  • The probability of a 25 basis point rate cut by the Federal Reserve in December is 69%.
  • South Korean and Japanese stock markets experience sharp declines, with the Korea Composite Stock Price Index (KOSPI) falling nearly 3%.
  • Hong Kong's JPEX Case: Police charge 16 individuals, including core members and KOLs, while the mastermind remains at large.
  • Arthur Hayes: US government reopening will boost liquidity, driving up the prices of BTC and ZEC.

Regulatory and Compliance Developments

Authorities in Hong Kong continue to investigate JPEX, a digital asset trading platform, for allegedly operating without a license. Police have charged 16 individuals, including prominent figures and influencers in the crypto space. Separately, the US Treasury Department has imposed sanctions on a North Korean money laundering network using 54 digital currency addresses.

Corporate and Institutional Activity

Gemini, founded by the Winklevoss twins, plans to enter the prediction market by launching event contracts. Additionally, Bitcoin mining is seeing notable activity, with Riot Platforms and CleanSpark reporting their October production and sales figures.

Market Analysis and Outlook

Delphi Digital analysts suggest that $98,900 could be Bitcoin's November low if the current bullish trend persists. In contrast, Arthur Hayes cautions that the reopening of the US government after the shutdown could increase liquidity, driving up the prices of BTC and ZEC.

ETF Flows

Bitcoin and Ethereum spot ETFs experienced net outflows in recent days. Conversely, Solana spot ETFs recorded net inflows.


Risk Warning: this article represents only the author’s views and is for reference only. It does not constitute investment advice or financial guidance, nor does it represent the stance of the Markets.com platform.When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice. Trading cryptocurrency CFDs and spread bets is restricted for all UK retail clients. 

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