Bitcoin News in Nigeria

Prominent short seller James Chanos has officially closed his 11-month hedge against Bitcoin in Strategy Inc. ($MSTR), marking the end of his high-profile short-selling operations against Bitcoin-related stocks and Strategy Inc., a benchmark stock. The closing of institutional short positions is a trend reversal signal, which may indicate that the darkest period for Bitcoin reserve companies is over. In recent weeks, the ecosystem of Bitcoin reserve companies has been severely impacted. The stock prices of most related companies have fallen sharply from their highs earlier this year. Analysts had previously advised investors to short stocks such as Strategy, and warned that a bubble had formed in the Bitcoin reserve company sector and could burst at any time without warning. But just as short-selling pressure reached its peak, a turning point may be on the horizon. Last Saturday, Pierre Rochard, CEO of The Bitcoin Bond Company and a veteran expert in cryptocurrency reserves, declared that the bear market for Bitcoin reserves is "gradually coming to an end." In his view, the liquidation of institutional short positions is one of the clearest signals in the industry, indicating that market sentiment may be shifting: "The market is expected to continue to fluctuate, but this signal is a key signal needed for a trend reversal." While this is far from something to celebrate, for investors who have been struggling with negative sentiment and plagued by adjusted net asset value (mNAV) issues, this hope is as precious as rain after a long drought. James Chanos is a key figure among these short sellers. This well-known investor has always been averse to any asset associated with Bitcoin. His closing of his 11-month-long Strategy and Bitcoin hedge transaction also marks the official end of his high-profile short selling against this "benchmark company for corporate Bitcoin hoarding". It's worth noting that MicroStrategy currently holds over 640,000 Bitcoins and continues to accumulate them on dips. This behavior suggests that its founder, Michael Saylor, has never even heard of the concept of "risk management." Chanos confirmed this move on the X platform, which immediately sparked heated discussions in the cryptocurrency Twitter community, with numerous posts discussing whether the market had bottomed out. He posted: "Given the numerous inquiries, I would like to confirm that I have closed out my hedging positions in Maistre and Bitcoin at yesterday's opening." At the same time, institutional attitudes toward cryptocurrencies are quietly changing. Traditional financial giants are entering the market, no longer as pessimists, but as stakeholders and market participants. More importantly, they are also joining the ranks of cryptocurrency reserve innovators. JPMorgan Chase's recent moves in BlackRock's spot Bitcoin exchange-traded product (ETF) business, along with a series of custody and clearing cooperation agreements that have been recently revealed, indicate that corporate adoption of Bitcoin is no longer a "wild and disorderly exploration," but is gradually becoming a strategic decision at the corporate board level. Whether it's driving capital inflows into exchange-traded products, adjusting reserve yield strategies, or assigning digital assets the same ratings as real-world securities, this transformation is quietly underway. Of course, this doesn't mean that Bitcoin reserve companies will soon be free from volatility. Macroeconomic uncertainties and fluctuating regulatory policies remain the sword of Damocles hanging over Bitcoin. However, the closing of heavy short positions by prominent skeptics like Chanos is not simply a matter of capital flow; it represents a significant turning point in market psychology. The signal is clear, both for Bitcoin prices and for institutional narratives: the darkest hour may have passed, and the next chapter of the industry will be written by those familiar faces.

The post Ledger eyes New York listing as hardware wallet demand rises appeared on BitcoinEthereumNews.com. Ledger is preparing for a major strategic shift as interest in secure digital asset storage reaches a new peak. Summary Hardware wallet demand is climbing as crypto hacks increase. Ledger is considering a New York IPO or fundraising in 2026. Recent product updates sparked debate over fees and direction. Ledger is preparing for its next phase of expansion as interest in secure storage rises across the crypto market.  According to a Nov. 9 report by The Financial Times, the company is exploring a possible public listing in New York after reporting its strongest year since launch, driven by growing concerns around asset protection. Demand accelerates as thefts rise Ledger, which was founded in Paris in 2014, has witnessed a significant increase in hardware wallet sales in 2025. He pointed out that the increased frequency of attacks on personal wallets and exchange platforms is forcing users to store their data offline. Chainalysis data supports this trend, with crypto thefts reaching $2.2 billion in the first half of the year, already exceeding 2024 levels. A significant share of these incidents targeted everyday users rather than large platforms, reinforcing the case for secure custody solutions. Ledger now secures an estimated $100 billion worth of Bitcoin (BTC) for its customers. The firm expects additional demand during the holiday period and into 2026, when it plans to either pursue an initial public offering or a private funding round. The strategy includes increasing its presence in New York, where Gauthier says institutional capital and crypto infrastructure have concentrated. Growth brings new pressures With a 2023 valuation of $1.5 billion, Ledger continues to dominate the cold storage market, surpassing its rivals, including Trezor and Tangem. The business is currently resolving internal disagreements regarding the direction of its products. Some long-time users have criticised the company for introducing…

PANews reported on November 10 that, according to SoSoValue data, Bitcoin spot ETFs saw a net outflow of $1.22 billion last week (November 3 to November 7, Eastern Time). The Bitcoin spot ETF with the largest net inflow last week was the Grayscale Bitcoin Mini Trust ETF (BTC), with a weekly net inflow of $21.61 million. The total historical net inflow for BTC has now reached $1.97 billion. The second largest was the Bitwise ETF (BITB), with a weekly net inflow of $4.69 million. The total historical net inflow for BITB has now reached $2.32 billion. The Bitcoin spot ETF with the largest net outflow last week was BlackRock ETF IBIT, with a weekly net outflow of $581 million. IBIT's historical total net inflow has reached $64.32 billion. The second largest was Fidelity ETF FBTC, with a weekly net outflow of $438 million. FBTC's historical total net inflow has reached $12 billion. As of press time, the total net asset value of Bitcoin spot ETFs was $138.08 billion, with an ETF net asset ratio (market capitalization as a percentage of Bitcoin's total market capitalization) of 6.67%, and a historical cumulative net inflow of $59.97 billion.

BitcoinWorld Crypto Futures Liquidated: Shocking $220M Wipeout as Short Traders Face Brutal Reckoning Imagine waking up to discover over $220 million vanished from crypto markets in just 24 hours. This shocking reality unfolded as crypto futures liquidated at an alarming rate, with short traders bearing the brutal brunt of the market movement. The perpetual futures market experienced one of its most dramatic sessions recently, leaving traders reeling from massive losses. What Exactly Happened With These Crypto Futures Liquidations? The cryptocurrency derivatives market witnessed a perfect storm that triggered widespread liquidations. When we say crypto futures liquidated, we’re referring to the forced closure of leveraged positions when traders can’t meet margin requirements. This recent episode saw an overwhelming majority of these forced closures hitting traders who had bet against the market. Let’s break down the staggering numbers: Bitcoin liquidations totaled $115 million Short positions accounted for 91.35% of BTC liquidations Ethereum saw $91.42 million in liquidations 86.27% of ETH liquidations were short positions Zcash experienced $14.47 million in liquidations Why Did Short Traders Get Hit So Hard? The massive wave of crypto futures liquidated primarily affected short sellers because of unexpected price movements. When markets move against short positions, these traders face immediate margin calls. Many were caught off guard by sudden price increases, forcing exchanges to automatically close their positions. This domino effect creates what traders call a ‘short squeeze.’ As prices rise, short positions get liquidated, which then fuels further buying pressure. Consequently, more crypto futures liquidated in a cascading effect that amplified the market movement. How Does This Impact the Broader Crypto Market? When significant amounts of crypto futures liquidated occur, the entire market feels the ripple effects. These massive liquidations can create increased volatility and affect market sentiment. However, they also help reset leveraged positions, potentially creating healthier market conditions afterward. Traders should note that periods of heavy liquidation often precede calmer market conditions. The removal of excessive leverage typically reduces future volatility. Therefore, understanding these cycles becomes crucial for anyone involved in crypto derivatives trading. What Can Traders Learn From This Liquidation Event? The recent $220 million liquidation event offers valuable lessons for crypto traders. First, proper risk management remains essential when trading leveraged products. Second, diversifying positions across different timeframes and assets can help mitigate liquidation risks. Key takeaways include: Always use stop-loss orders Maintain adequate margin buffers Monitor market conditions continuously Avoid over-leveraging during volatile periods Will We See More Crypto Futures Liquidated Soon? Market analysts suggest that while such massive liquidation events are dramatic, they’re not uncommon in crypto markets. The high volatility inherent in cryptocurrency trading means traders should always prepare for potential liquidation waves. However, the concentration of short positions in this particular event made it especially noteworthy. As the market continues to evolve, we may see different patterns emerge. What remains constant is the need for cautious trading practices and thorough market analysis. Frequently Asked Questions What causes crypto futures to get liquidated? Crypto futures get liquidated when traders cannot meet margin requirements, typically due to adverse price movements against their positions. How can I avoid getting liquidated? Use proper risk management, maintain sufficient margin, employ stop-loss orders, and avoid excessive leverage during volatile market conditions. Why were short positions hit harder in this event? Short positions suffered more because unexpected price increases triggered margin calls against traders betting on price declines. Do liquidation events affect spot prices? Yes, large liquidation events can create increased volatility and temporary price distortions in spot markets due to forced selling or buying. How often do major liquidation events occur? Significant liquidation events happen periodically, often coinciding with major market movements or unexpected news events. Can liquidation events create trading opportunities? Experienced traders sometimes use liquidation events to enter positions at potentially favorable prices once the volatility subsides. Found this analysis helpful? Share this article with fellow traders who need to understand the risks and realities of crypto futures trading. Your share could help someone avoid becoming part of the next liquidation statistic. To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin and Ethereum price action. This post Crypto Futures Liquidated: Shocking $220M Wipeout as Short Traders Face Brutal Reckoning first appeared on BitcoinWorld.

The post U.S. Senate Struggles to End Government Shutdown appeared on BitcoinEthereumNews.com. Key Points: U.S. Senate nears a vital vote risking shutdown delays. Senate procedural vote could extend debate by 30 hours. Potential implications for crypto markets from funding uncertainty. The U.S. Senate conducts a decisive procedural vote aiming to end the government shutdown, contingent on amending three funding bills, while market volatility looms amid legislative delays. Potential disruptions in crypto markets are anticipated, with key assets like BTC, ETH, and stablecoins affected by ongoing fiscal uncertainty and possible extended U.S. government funding debates. Senate Vote Holds Key to Ending Shutdown Debate extensions could delay federal payments and budget allocations, causing ripple effects across markets. During previous shutdowns, cryptocurrency assets like BTC and ETH experienced short-lived volatility. The uncertainty introduces potential risks for stablecoin liquidity and DeFi governance tokens with high regulatory exposure. Senator Elissa Slotkin (D-MI) publicly opposed expediting the vote, citing healthcare cost concerns. Meanwhile, at least eight Democrats remain supportive, but Republicans require additional affirmative votes from the other side to succeed. The outcome remains uncertain as internal discussions continue in both parties. Tonight, I am voting no on a procedural vote on an appropriations deal that would re-open the government. … The promise of a vote in over a month does not meet that threshold. – Elissa Slotkin, Senator, Michigan Crypto Markets Brace for Shutdown Impact Did you know? During the 2018-2019 U.S. government shutdown, the market observed increased volatility in bitcoin prices, with significant liquidity stresses in stablecoins such as USDC and USDT, impacting DeFi protocols integrated with these assets. Bitcoin (BTC) is currently trading at $105,922.03, with a market cap of $2.11 trillion, capturing 59.11% market dominance, as reported by CoinMarketCap. The recent 24-hour trading volume reached $67.10 billion, marking a 4.12% rise in price. Over the last 90 days, bitcoin experienced a 10.96% decline, emphasizing…

The post Bitcoin Miners Are Moving from BTC to Artifical Intelligence (AI) Amid Higher Demand appeared on BitcoinEthereumNews.com. Although the price of Bitcoin (BTC) continues to be under selling pressure, BTC miners are having a boom period while tapping into new opportunities in the recently booming artificial intelligence (AI) space. A large number of miners have put their mining rigs for use in AI, amid a solid demand. As energy costs rise and halving reduces block rewards, Bitcoin miners are redefining their business models. Rather than focusing solely on minting new coins, many are now leasing their high-performance hardware to train large language models, run AI inference workloads, and host cloud computing services. This doesn’t seem to be the end of mining, but rather marks the beginning of a new kind of mining boom. Bitcoin Miner’s Pivot to AI Comes As Halving Rewards Drop Bitcoin’s April 2024 halving slashed mining rewards in half, intensifying pressure on an industry already burdened by soaring electricity costs. The average hashprice i.e. the daily revenue earned per terahash, has plunged from $0.12 in early 2024 to below $0.05 by mid-2025, leaving many miners struggling to remain profitable. With electricity accounting for up to 90% of operating costs and price volatility eroding margins, miners have been forced to seek new, more stable revenue streams. The rapid growth of artificial intelligence has created a massive demand for computing power, and Bitcoin miners are uniquely positioned to meet it. Tech giants, including Microsoft, Google, and OpenAI face long timelines to build new data centers. Miners are at an advantage here as they already control large-scale energy contracts, cooling systems, and industrial hardware that can be repurposed for AI training and high-performance computing (HPC) workloads. According to VanEck analysts, Bitcoin miners could generate as much as $38 billion in annual revenue by redirecting part of their infrastructure toward AI and HPC operations, a return up to…

PANews reported on November 10th that, according to SoSoValue data, the Senate has reached an agreement to extend government funding, resolving the government shutdown and reducing macroeconomic uncertainty. As a result, the crypto market strengthened overall, with Bitcoin (BTC) rising 3.78% to surpass $105,000 and Ethereum (ETH) rising 7.03% to above $3,600. Furthermore, the DeFi sector performed exceptionally well, rising 5.35%, with Uniswap (UNI) rising 12.03% and Aerodrome Finance (AERO) rising 14.58%. Other notable sectors include: RWA, which rose 5.16% in the last 24 hours, with Sky (SKY) and Keeta (KTA) rising 5.97% and 13.76% respectively; and PayFi, which rose 4.94%, with COTI (COTI) rising 60.71% and Monero (XMR) rising 8.73%. In other sectors, the Meme sector rose 3.86% in the last 24 hours, with Giggle Fund (GIGGLE) up 20.96%; the Layer 1 sector rose 3.11%, with Zcash (ZEC) up 11.93%; the CeFi sector rose 2.30%, with Aster (ASTER) up 9.06%; and the Layer 2 sector rose 1.66%, with Starknet (STRK) up 9.34%.

PANews reported on November 10th that, according to Bitcoin.com News, on-chain analyst James Check shared data indicating that approximately 4.64 million BTC (worth over $500 billion) have been transferred out of dormant wallets this year. The analyst points out that this has contributed to Bitcoin's sideways market trend.

Leading cryptocurrencies rallied alongside stock futures Sunday overnight amid reports that the 40-day federal shutdown will end.read more

Top crypto news this week: Bitcoin plunges below $100K first time since June; Franklin Templeton updates filing for imminent XRP ETF approval; Shiba Inu faces heavy sell-off.