On November 12, the sentiment in the cryptocurrency market continues to be bullish. Bitcoin keeps rising, approaching the $90,000 mark at one point during the session. As of the time of writing,$Bitcoin (BTC.CC)$ it is up 0.78% at $89,460.00, with a nearly 10% increase in the past 24 hours; $Ethereum (ETH.CC)$ Fell by 0.17% to $3366.00.

Hong Kong stocks cryptocurrencies spot, futures, and ETFs continue to surge. $Samsung Bitcoin Futures Active ETF (03135.HK)$ 、 $Harvest Bitcoin Spot ETF (03439.HK)$ 、 $Bosera HashKey Bitcoin ETF (03008.HK)$ 、 $ChinaAMC Bitcoin ETF (03042.HK)$ 、 $CSOP Bitcoin Futures ETF (03066.HK)$ Rise by more than 8%,$Harvest Ether Spot ETF (03179.HK)$、$Bosera HashKey Ether ETF (03009.HK)$、$CSOP Ether Futures ETF (03068.HK)$、$ChinaAMC Ether ETF (03046.HK)$up over 6%.

Key Focus

• At the time of bitcoin's sharp rise, MicroStrategy's coin purchases reached a new high in nearly four years.

MicroStrategy purchased about 0.0272 million bitcoins at a price of about 2.03 billion US dollars, making it the largest purchase by this crypto hedge fund administrator since they began acquiring bitcoins over four years ago. According to a statement on Monday, the enterprise software manufacturer acquired these tokens between October 31 and November 10, and its corporate strategy now includes buying cryptocurrencies. This is the largest amount of tokens purchased since the company announced the acquisition of 29,646 bitcoins in December 2020.

• The global cryptocurrency market cap has reached a new all-time high, surpassing 3 trillion US dollars again after three years.

Market data shows that the current global crypto market cap is around $3.11 trillion, up 6.8% in the past 24 hours, surpassing the previous high of $3.069 trillion on November 9, 2021. The current market cap share of Bitcoin is 56.3%, while Ethereum accounts for 13%. The 24-hour crypto trading volume is approximately $355.68 billion.

• OpenAI CEO: I am optimistic about the bright future of cryptocurrencies.

OpenAI CEO Sam Altman wrote on the X platform: "Over the past year, World (also known as Worldcoin) has made remarkable progress. I am very proud of the team, especially Alex Blania's leadership, vision, and execution capabilities. In general, I am optimistic about the bright future of cryptos."

• Bloomberg analyst: It is highly likely that the US spot bitcoin ETF will surpass the gold ETF on its one-year anniversary of launch.

Bloomberg Senior ETF Analyst Eric Balchunas said: "The asset size of the US spot Bitcoin ETF has now reached $84 billion, equivalent to two-thirds of the Gold ETF asset size. They are very likely to surpass gold on its one-year anniversary (we had estimated this would take 3-4 years)."

• Bernstein: Expects bitcoin to reach $0.2 million by the end of 2025.

Analysts at Bernstein in the USA released a bullish report after the U.S. election, encouraging investors to increase their exposure to the crypto industry as soon as possible. Bitcoin broke through $0.08 million to hit a historic high after Trump's victory. Gautam Chhugani, head of research at Bernstein, stated that the Trump administration is expected to adopt a pro-crypto policy, or appoint a new SEC chairman, which may bring a more favorable regulatory environment to the industry.

The report recommends that investors focus on spot bitcoin, ethereum ETFs, publicly listed bitcoin mining companies, enterprises holding bitcoin, and crypto trading platforms (such as Robinhood and Coinbase). Additionally, Bernstein expects bitcoin to reach $0.2 million by the end of 2025 and suggests investors purchase BTC, ETH, SOL, and other major digital assets.

• Standard Chartered Bank analyst: Trump creating the US National Bitcoin Reserve Fund is a "low probability event."

Standard Chartered Bank analyst Geoff Kendrick, in an interview with the Financial Times of the United Kingdom, stated that Trump creating a U.S. national bitcoin reserve fund is a "low probability event". However, since Trump's election victory, the cryptocurrency market has continued to rise, with bitcoin prices rising by over 15% since November 6, with an increase of about 80% so far this year, surpassing the growth rate of traditional investments such as stocks and gold. Binance CEO Richard Teng believes that Trump's victory is a "major victory for cryptocurrencies", and expects increased cryptocurrency activities during Trump's second presidential term.Mergeractivity will also increase.

• Tesla's bitcoin holdings value exceeded $1 billion.

According to Arkham data, Tesla, owned by Musk, currently holds 11,509 BTC. With the rise in the price of Bitcoin, its Bitcoin holdings value has surpassed 1 billion US dollars.

• Trump plans to push the US government to relax its policies on cryptocurrencies and is looking for candidates friendly to the crypto industry.

US President-elect Trump is preparing to take a more lenient stance on cryptocurrencies within the US government. He is seeking candidates for key positions friendly to the crypto industry, while his senior advisors are seeking feedback from crypto executives on potential changes in federal policies. Initial discussions are focused on a range of financial regulatory agencies, including the SEC.

According to five sources familiar with the matter, Trump's advisors are considering appointing current regulators, former federal officials, and financial industry executives to key leadership positions, many of whom have publicly expressed support for cryptocurrencies. They cautioned that the discussions are still in the early stages, and the list of candidates is subject to change.

• Bloomberg: Trump stimulates speculative activity in cryptocurrencies, tokens like DOGE outperforming BTC.

According to Bloomberg, in recent days, the performance of a series of small cryptocurrencies has outperformed Bitcoin, as people are enthusiastic about the prospects of the cryptocurrency industry under the leadership of US President-elect Trump, sparking a wave of speculative betting. This includes DOGE, which has risen by about 50% in the past five days; the most eye-catching performer is ADA from the Cardano blockchain, with an increase of over 60% during the same period, possibly driven by the founder of the network, Charles Hoskinson, discussing plans to collaborate with Washington legislators on a podcast.

In addition, tokens related to Polygon, COSMOS, Solana, and Algorand have all seen gains exceeding Bitcoin's approximately 7% increase over the past five days, hitting historical highs. Caroline Bowler, CEO of digital asset exchange BTC Markets Pty, said: "A rising tide lifts all boats, and the prosperity of Bitcoin is quickly extending to altcoins; the entire industry is expected to be a net beneficiary of the Trump administration."

Editor/rice