Bitcoin hits another new high, with the global market cap of cryptos surpassing $2.6 trillion.

Bitcoin hits a new all-time high again, reaching $0.0756 million per unit, driving the global cryptocurrency market cap past $2.6 trillion, with Bitcoin's market cap at $1.495 trillion.

Bitwise's Chief Investment Officer: We are entering the golden age of cryptos.

Bitwise's Chief Investment Officer stated, "We are entering the golden age of cryptos, and we will see a strong bull market in the coming years."

Over 250 candidates supporting cryptos have been elected in this election.

According to Fox Business, over 250 candidates supporting cryptos have been elected to the U.S. Congress in the 2024 elections.

Analysis: Republican majority in the Senate implies more "support for cryptos" in the U.S. Congress.

According to Cointelegraph, the Republican party has gained majority control of the U.S. Senate, bringing bright prospects for crypto regulation in the U.S. Fideum's CEO and co-founder Anastasija Plotnikova focused on institutional regulation and blockchain infrastructure, expressed that over 240 candidates supporting cryptos have been elected as members of the House of Representatives and the Senate, marking a "historic achievement" for clarifying crypto regulation in the U.S. Government blockchain expert Anndy Lian indicated that a Republican-controlled Senate may eventually specify U.S. crypto regulation measures. The new Senate might review delayed business-friendly acts, such as the Digital Commodity Consumer Protection Act, granting the Commodity Futures Trading Commission (CFTC) exclusive authority over digital asset trading. James Davies, CEO of Crypto Valley Exchange, mentioned that controlling the majority in the Senate is at least as crucial for the future of crypto regulation as the presidency, possibly leading to significant changes in the U.S. Securities and Exchange Commission's oversight in the crypto field. Davies hopes former CFTC Chairman Chris Giancarlo could be nominated to replace Gensler on the SEC. The crypto industry views the 2024 presidential election as positive, with Coinbase co-founder and CEO Brian Armstrong calling it the "most crypto-supportive Congress in U.S. history," which will promote clearer crypto regulation.

Standard Chartered Bank: Bitcoin is expected to reach $125,000 by the end of this year after Trump's victory.

According to DL News, Geoff Kendrick, the Global Head of Digital Assets Research at Standard Chartered Bank, stated at a briefing on Wednesday that after Trump's victory, the price of Bitcoin is expected to reach $125,000 by the end of this year and $200,000 by the end of 2025. This forecast echoes earlier estimates by analysts from research and brokerage firm Bernstein. Standard Chartered Bank made a similar prediction in October. Kendrick believes that many of Trump's commitments supporting cryptos, such as firing the chairman of the U.S. Securities and Exchange Commission, Gary Gensler, establishing a national strategic Bitcoin reserve, and reshaping America into a 'Bitcoin superpower,' will drive the increase in Bitcoin. Based on Bitcoin options trading, Kendrick reveals that Standard Chartered Bank has found many investors interested in a price around $80,000, indicating that this cryptocurrency will reach this level in the 'next week or two.' Regarding regulations, Kendrick expects Trump to overturn Biden's veto of SAB121, a controversial SEC accounting guidance criticized for hindering investment banks from offering crypto custody services on a large scale. Kendrick believes that Trump will soon achieve this goal after taking office on January 20 next year, leading to more institutions adopting cryptos.

6. Bitcoin surpasses Meta to become the ninth largest asset by global market cap.

According to companiesmarketcap data, Bitcoin's market cap has risen to $1.473 trillion, surpassing Meta Platforms ($1.445 trillion), ranking as the 9th largest asset globally.

With positive IPO prospects, Wall Street investment banks like Goldman Sachs and JPMorgan are turning their attention to crypto clients.

According to The Information, top bankers from several leading Wall Street investment banks including JPMorgan, Goldman Sachs, and Morgan Stanley have been meeting with executives from the crypto industry. They hope to benefit from the lucrative initial public offerings (IPOs) that crypto companies may undertake after the election. This newfound enthusiasm reflects optimism that improvements in the market and regulatory environment following Trump's potential victory in the U.S. presidential election may pave the way for companies like Kraken, Fireblocks, and Chainalysis to go public. Advisors note that bankers' interest in these meetings contrasts with much of the past two years when many investment banks considered collaborating with crypto firms too risky to conduct business.

Bernstein: SEC and Senate Banking Committee Expected to Adopt a Crypto-Friendly Attitude After Trump Takes Office

According to Coindesk, brokerage firm Bernstein stated in a research report that the SEC and Senate Banking Committee are expected to adopt a crypto-friendly stance after Trump takes office, anticipating a reevaluation of crypto assets as their status as securities remains unclear. Additionally, progress may be made more swiftly on stablecoins and market structure legislation, which would be favorable for stablecoin issuers like Circle and Paxos, as well as U.S. crypto exchanges and brokerages/traders.

Coinbase CEO: From a policy perspective, cryptocurrencies will continue to exist until the industry establishes itself in the USA.

Coinbase CEO Brian Armstrong stated in a post on X platform: "Washington D.C. has received a clear message that opposing cryptocurrencies is not a good way to end a career, because it does not represent the will of the voters, who are dissatisfied with the current financial system and want to make a change." Armstrong pointed out, "From a policy perspective, cryptocurrencies will continue to exist, as we will continue to emerge until we see consumer protection and industry safeguarded by reasonable legislation, we will see this industry established in the United States." It is worth noting that cryptocurrency critic, Democratic Senator from Massachusetts Elizabeth Warren, secured her third term with nearly 60% of the votes, defeating her Republican challenger, cryptocurrency advocate and lawyer John Deaton.

QCP Capital: BTC has experienced 3 election cycles, all showing a rebound trend with prices never falling back to previous levels.

QCP Capital stated in its channel, "What a memorable day. As long as a few more votes are cast for Trump, the 2024 presidential election is basically determined. Trump has maintained a lead in the polls from the start, with everything now depending on Arizona, Michigan, Nevada, and Wisconsin. More than half of the votes have been counted in these states, and the balance is shifting in favor of Trump. The US dollar exchange rate soared by 1.2%, reaching a high of 105 since July, while yields also continued to rise. This is because the market expects stronger economic growth and increased fiscal spending. The 10-year Treasury bond yield increased by 15 basis points, and the 2-year Treasury bond yield increased by 8 basis points, indicating enhanced investor expectations. Although the probability of rate cuts is expected to decrease due to Trump's 'more friendly' proposed policies, the market still expects 1.8 rate cuts this year and 3 rate cuts next year. The cryptocurrency market is booming, with BTC hitting a historic new high of $75,000, previously reaching $73,500 on March 14. Since then, BTC has mainly traded in a narrow range below $70,000. It is noteworthy that since its appearance in 2009, BTC has experienced three election cycles, with price rebounds following each election, and prices have never fallen back to pre-election levels. We expect this bullish momentum to remain strong as we enter 2025.

Arkham's cryptocurrency derivatives exchange is now open for registration, with trading scheduled to start in about 1 week.

Blockchain data company Arkham announced on X platform that the cryptocurrency derivatives exchange ARKHAM PERPETUALS EXCHANGE is now open for registration, with trading set to begin in 1 week. Arkham stated that eligibility for registration varies by jurisdiction. Users residing in certain jurisdictions (including the USA) will be excluded from access.

India's cryptocurrency exchange WazirX plans to launch a decentralized exchange and tokens related to DEX.

According to Cointelegraph, India's cryptocurrency exchange WazirX founder Nischal Shetty announced that the company plans to launch a decentralized exchange (DEX) in response to the hack attack in July, resulting in approximately $0.235 billion in user funds lost. The attackers were suspected to be North Korea's "Lazarus Group" and used Tornado Cash to obfuscate transaction records. Shetty stated that the new DEX will allow users to self-custody assets, eliminating the counterparty risk inherent in centralized platforms. In addition, WazirX also plans to introduce tokens related to DEX for platform fees and governance. Shetty emphasized that the self-custody feature of DEX will allow users full control of assets and the ability to trade freely. This move towards DEX aims to restore user trust, as WazirX faced widespread criticism for proposing to convert 45% of user account balances to USDT and lock them. Furthermore, WazirX rolled back all transactions in August and restored user accounts to pre-hack levels, attempting to provide a "fair resolution" for customers.

JPMorgan has renamed its blockchain platform Onyx to Kinexys and added on-chain forex settlement for the US dollar and the euro.

According to CoinDesk, JPMorgan has renamed its blockchain platform Onyx to Kinexys, aiming to strengthen its business layout in blockchain and asset tokenization. Kinexys plans to introduce on-chain forex settlement functionality in the first quarter of 2025, with the first batch of round-the-clock automated multi-currency clearing and settlement services supporting the US dollar and euro, and plans to expand to other currencies in the future. JPMorgan's blockchain innovation began in 2020 and has processed over $1.5 trillion in transactions through the platform since its inception, including overnight repurchase agreements and cross-border payments. Users of this platform include global companies such as Siemens, BlackRock, and Ant International. Umar Farooq, co-head of JPMorgan, stated that Kinexys will connect different systems through multi-chain interoperability to break through the limitations of traditional financial infrastructure, accelerating the application of blockchain and tokenization technology in mainstream financial services.

Coinbase CEO: Cryptocurrencies are likely to survive from a policy perspective, and opposing cryptocurrencies will lose voter support.

According to TheBlock, Coinbase CEO Brian Armstrong stated after the November 5th US elections, 'Cryptocurrencies are likely to survive from a policy perspective.' In this election, Donald Trump, a Republican who supports crypto, won the presidency, and Senator Bernie Moreno, who supports cryptocurrencies, defeated Senator Sherrod Brown, who previously called for cryptocurrencies to be cracked down. Armstrong noted that this election sent a clear message to Washington that opposing cryptocurrencies will lose voter support, especially against the backdrop of increasing demands for financial system reform. Meanwhile, the pro-crypto super PAC Fairshake has raised a total of $78 million for the 2026 midterm elections. Despite this, prominent crypto critic Senator Elizabeth Warren successfully re-elected, receiving nearly 60% of the vote, defeating Republican opponent John Deaton, who supports cryptocurrencies. Armstrong emphasized that Coinbase and a16z will continue to advocate for crypto-friendly policies, working to protect consumer and industry interests.