OSL Trading Time: ZhongAn Bank in Hong Kong launches cryptocurrency trading service, BTC continues to strengthen and approaches $100,000

1. Market observation

Keywords: BTC, IMX, ZKasino

BTC closed last week with a positive line, and the weekly closing price hit a record high. The latest price is $97,434.73, and the year-to-date increase is as high as 130.53%. Institutional funds continue to be optimistic about the Bitcoin market. Fundstrat's head of digital asset strategy pointed out that the premium of Korean kimchi has dropped to 0%, which may indicate that BTC still has room for growth.

ETH is currently priced at $3,339.69, up 46.38% year-to-date, which is relatively mild compared to BTC. In terms of ecosystem, Vitalik emphasized that the crypto industry needs to build more practical applications rather than just focusing on coin issuance and transactions.

The cryptocurrency ecosystem continues to expand, and ZhongAn Bank in Hong Kong has launched virtual currency trading services, indicating that traditional financial institutions are more receptive to crypto assets. At the same time, tokens such as IMX, ADA, and APEX are about to be unlocked in large amounts, of which IMX will unlock about $40.5 million. Investors need to be wary of the potential selling pressure brought about by the unlocking.

From a macro perspective, US stocks continued to strengthen, with the S&P 500 and Nasdaq rising 25.15% and 26.60% respectively. Next week, the market will see the release of important data such as the core PCE price index and GDP, which may affect the market's expectations for the Federal Reserve's monetary policy and thus affect the trend of the cryptocurrency market.

2. Key data (as of 10:03 Hong Kong time on November 25)

• S&P 500: 5,969.34 (+25.15% year-to-date)

• Nasdaq: 19,003.65 (+26.60% year-to-date)

• 10-year Treasury yield: 4.355% (-3.64 basis points year-to-date)

• US dollar index: 106.561 (+5.00% year-to-date)

• Bitcoin: $97,434.73 (+130.53% year-to-date)

• Ethereum: $3,339.69 (+46.38% year-to-date)

3. ETF flows (November 22, Eastern Time)

• Bitcoin ETF: Net inflows of $490.3 million

• Ethereum ETF: Net inflows of $91.3 million

4. Important Dates

Published data:

• November 21, 9:30 p.m. Initial unemployment claims

Actual: 213,000, Previous: 219,000, Expected: 222,000

• November 22 at 11:00 pm Michigan Consumer Sentiment Index Final Value

Actual: 71.8, Previous: 70.5, Expected: 73.7

Coming soon (November 27 at 9:30 pm):

• Core PCE price index month-on-month (previous value: 0.3%, expected: 0.3%)

• GDP quarter-on-quarter growth rate (previous value: 3.0%, expected: 2.8%)

• Personal income (previous value: 0.3%, expected: 0.3%)

• Personal spending (previous: 0.5%, expected: 0.4%)

5. Hot News (November 22 to November 25)

• Data: IMX, ADA, APEX and other tokens will be unlocked in large amounts next week, of which IMX unlocks approximately $40.5 million

• Murad: A Meme project community worth investing in should have 6 characteristics, including multiple resistance to declines and diamond hands, etc.

• ZhongAn Bank in Hong Kong launched virtual currency trading service on its App today

• Starknet: Integration phase for STRK staking phase 1 now underway

• 10x Research: Last weekend, Upbit’s daily trading volume reached $14 billion, which is comparable to the Korean stock market

• Andrew Kang: The DeSci field is currently like the DeFi era in early 2019, and has invested in BIO Protocol

• Vitalik: The crypto industry needs to create some meaningful applications with a lot of user participation, rather than just issuing coins and doing exchanges

• Fundstrat Digital Asset Strategy Director: The current premium for Korean kimchi is about 0%, which may indicate that BTC still has room to rise

• ai16z: DAO partners have decided that ai16z and AI Combinator will be completely separated

• Sui forms strategic partnership with Franklin Templeton Digital Assets

• ZKasino used funds that were to be returned to users to leverage long ETH on the chain

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