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 is provided for informational purposes only and does not constitute investment advice, investment research, or a recommendation to trade. The views expressed are those of the author and do not necessarily reflect the position of Markets.com. 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 may not be suitable for all investors. Leveraged products can result in capital loss. Past performance is not indicative of future results. Before trading, ensure you fully understand the risks involved and consider your investment objectives and level of experience. Cryptocurrency CFD trading restrictions may apply depending on jurisdiction.

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