Daily market key data review and trend analysis, jointly produced by PANews and OSL. Daily market key data review and trend analysis, jointly produced by PANews and OSL.

OSL Trading Hours: BTC Approaches $100,000, Institutional Demand Continues to Strengthen the Market

2024/11/29 11:07
4 min read

OSL Trading Hours: BTC Approaches $100,000, Institutional Demand Continues to Strengthen the Market

1. Market observation

Keywords: BTC, Starknet, DOGE

Bitcoin has continued to show market resilience recently, with its price soaring 5.05% to $96,286, ignoring the market's doubts about its overvaluation. Driven by continued institutional demand, analysts expect Bitcoin to reach a peak of $146,000. Multiple institutions have shown strong interest in Bitcoin: MARA has increased its holdings of Bitcoin, Vancouver Mayor Ken Sim has proposed using Bitcoin as a reserve asset, and Chinese company SOS Limited has announced an investment of $50 million to purchase Bitcoin, highlighting Bitcoin's growing strategic position.

The price of Bitcoin is approaching the $100,000 mark, and market sentiment is generally positive. Data shows that the probability of Bitcoin breaking through six figures by the end of the year has reached 45%, a significant increase from 34% a week ago. Other major cryptocurrencies also showed an upward trend, with Ethereum hitting a 5-month high and Dogecoin (DOGE) also recording gains.

Despite this, there is still a cautious sentiment in the market, and some experts warn that Bitcoin may face a 30% correction. However, analysts at Rekt Capital hold a different view, believing that price adjustments may actually help maintain the bull market trend. At present, although short-term price fluctuations are obvious, the market still maintains strong confidence in Bitcoin breaking through the psychological barrier of $100,000.

The cryptocurrency market has also witnessed the diversification of investment strategies, such as Rumble's plan to allocate its $20 million excess cash reserves to Bitcoin. Another important development is that the Ethereum L2 project Starknet has launched the first phase of the staking plan on the mainnet, marking an important milestone in the decentralization process. Overall, Bitcoin has shown strong recovery momentum, and investors tend to actively buy when the price pulls back, but breaking through the $100,000 resistance level still faces challenges.

2. Key data (as of 10:00 HKT on November 29)

  • S&P 500: 5,998.74 (+25.76% year-to-date)

  • Nasdaq: 19,060.48 points (+26.97% year-to-date)

  • 10-year Treasury yield: 4.245% (+36.71 basis points this year)

  • US dollar index: 106.494 (+4.89% year-to-date)

  • Bitcoin: $95,568.63 (+126.12% year-to-date), with a daily spot volume of $51.11 billion

  • Ethereum: $3,557.29 (+55.92% year-to-date), with a daily spot volume of $31.28 billion

3. ETF flows (November 28 EST)

  • Bitcoin ETF: Net outflow of $0

  • Ethereum ETF: Net outflow of $0

4. Important day (November 27, 9:30 p.m.)

  • Core PCE price index month-on-month: actual 0.3% / previous value 0.3% / expected 0.3%

  • GDP growth rate month-on-month: actual 2.8% / previous value 3.0% / expected 2.8%

  • Personal income: actual 0.6% / previous value 0.3% / expected 0.3%

  • Personal spending: actual 0.4% / previous value 0.6% / expected 0.3%

5. Hot News

  • U.S. Bitcoin spot ETFs have seen net inflows of $6.2 billion so far in November, a record monthly high

  • Virtuals Protocol ecosystem tokens generally rose, with multiple tokens rising by more than 100%

  • Sol Sniper launches SniperX, the first Meme coin trading robot on X platform

  • Spectral: Unfair registration behavior was discovered during the deployment of the first proxy token SPECTR, and remedial measures have been taken

  • Stacks announces sBTC deployment plan, expected to open deposit function on December 16

  • pump.fun sold another 65,000 SOLs, with a total cash out of over $200 million

  • SlowMist founder: DEXX attackers have converted part of their assets into SOL, and EVM addresses have experienced abnormal changes

  • Modular L1 network U2U Network completes $13.8 million financing

  • Bluefin launches airdrop eligibility portal and will airdrop 17% of BLUE tokens

  • Japan's new prime minister reorganizes Web3 and crypto policy department

  • Binance Labs announces investment in Astherus to help DeFi users achieve high returns on their assets

  • Binance: BNSOL Super Staking will launch the first phase of the project Pyth Network (PYTH)

  • The Genesis Event of Hyperliquid’s Native Token HYPE Will Be Held on November 29

  • Scroll Lianchuang responded to the doubts: the project design problems will be improved and the team is making structural adjustments

  • Telegram founder: Received 1% of MAJOR donated by Major founder, will not sell it in the next 10 years

  • VanEck CEO: US policy shift brings strong momentum to the crypto market, predicts Bitcoin will reach $400,000

  • Robinhood Launches Ethereum Staking Service for European Users

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Crucial US Stock Market Update: What Wednesday’s Mixed Close Reveals

Crucial US Stock Market Update: What Wednesday’s Mixed Close Reveals

BitcoinWorld Crucial US Stock Market Update: What Wednesday’s Mixed Close Reveals The financial world often keeps us on our toes, and Wednesday was no exception. Investors watched closely as the US stock market concluded the day with a mixed performance across its major indexes. This snapshot offers a crucial glimpse into current investor sentiment and economic undercurrents, prompting many to ask: what exactly happened? Understanding the Latest US Stock Market Movements On Wednesday, the closing bell brought a varied picture for the US stock market. While some indexes celebrated gains, others registered slight declines, creating a truly mixed bag for investors. The Dow Jones Industrial Average showed resilience, climbing by a notable 0.57%. This positive movement suggests strength in some of the larger, more established companies. Conversely, the S&P 500, a broader benchmark often seen as a barometer for the overall market, experienced a modest dip of 0.1%. The technology-heavy Nasdaq Composite also saw a slight retreat, sliding by 0.33%. This particular index often reflects investor sentiment towards growth stocks and the tech sector. These divergent outcomes highlight the complex dynamics currently at play within the American economy. It’s not simply a matter of “up” or “down” for the entire US stock market; rather, it’s a nuanced landscape where different sectors and company types are responding to unique pressures and opportunities. Why Did the US Stock Market See Mixed Results? When the US stock market delivers a mixed performance, it often points to a tug-of-war between various economic factors. Several elements could have contributed to Wednesday’s varied closings. For instance, positive corporate earnings reports from certain industries might have bolstered the Dow. At the same time, concerns over inflation, interest rate policies by the Federal Reserve, or even global economic uncertainties could have pressured growth stocks, affecting the S&P 500 and Nasdaq. Key considerations often include: Economic Data: Recent reports on employment, manufacturing, or consumer spending can sway market sentiment. Corporate Announcements: Strong or weak earnings forecasts from influential companies can significantly impact their respective sectors. Interest Rate Expectations: The prospect of higher or lower interest rates directly influences borrowing costs for businesses and consumer spending, affecting future profitability. Geopolitical Events: Global tensions or trade policies can introduce uncertainty, causing investors to become more cautious. Understanding these underlying drivers is crucial for anyone trying to make sense of daily market fluctuations in the US stock market. Navigating Volatility in the US Stock Market A mixed close, while not a dramatic downturn, serves as a reminder that market volatility is a constant companion for investors. For those involved in the US stock market, particularly individuals managing their portfolios, these days underscore the importance of a well-thought-out strategy. It’s important not to react impulsively to daily movements. Instead, consider these actionable insights: Diversification: Spreading investments across different sectors and asset classes can help mitigate risk when one area underperforms. Long-Term Perspective: Focusing on long-term financial goals rather than short-term gains can help weather daily market swings. Stay Informed: Keeping abreast of economic news and company fundamentals provides context for market behavior. Consult Experts: Financial advisors can offer personalized guidance based on individual risk tolerance and objectives. Even small movements in major indexes can signal shifts that require attention, guiding future investment decisions within the dynamic US stock market. What’s Next for the US Stock Market? Looking ahead, investors will be keenly watching for further economic indicators and corporate announcements to gauge the direction of the US stock market. Upcoming inflation data, statements from the Federal Reserve, and quarterly earnings reports will likely provide more clarity. The interplay of these factors will continue to shape investor confidence and, consequently, the performance of the Dow, S&P 500, and Nasdaq. Remaining informed and adaptive will be key to understanding the market’s trajectory. Conclusion: Wednesday’s mixed close in the US stock market highlights the intricate balance of forces influencing financial markets. While the Dow showed strength, the S&P 500 and Nasdaq experienced slight declines, reflecting a nuanced economic landscape. This reminds us that understanding the ‘why’ behind these movements is as important as the movements themselves. As always, a thoughtful, informed approach remains the best strategy for navigating the complexities of the market. Frequently Asked Questions (FAQs) Q1: What does a “mixed close” mean for the US stock market? A1: A mixed close indicates that while some major stock indexes advanced, others declined. It suggests that different sectors or types of companies within the US stock market are experiencing varying influences, rather than a uniform market movement. Q2: Which major indexes were affected on Wednesday? A2: On Wednesday, the Dow Jones Industrial Average gained 0.57%, while the S&P 500 edged down 0.1%, and the Nasdaq Composite slid 0.33%, illustrating the mixed performance across the US stock market. Q3: What factors contribute to a mixed stock market performance? 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Share this article with your network on social media to help others understand the nuances of current financial trends! To learn more about the latest stock market trends, explore our article on key developments shaping the US stock market‘s future performance. This post Crucial US Stock Market Update: What Wednesday’s Mixed Close Reveals first appeared on BitcoinWorld.
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