Daily Summary, 5 November

Results of the day, November 5

📊 Market Analysis
* Analysts CryptoQuant warn that if Bitcoin does not hold above $100,000, the price may decrease to $72,000.
* According to Bloomberg, long-term holders of Bitcoin over the last month sold about 400,000 BTC for $45 billion, which brought the market out of equilibrium.
* The investment director of Bitwise believes that retail investors have reached the “point of maximum despair” — a signal that often precedes a market bottom.

₿ Bitcoin and Institutions
* Arthur Hayes in a new essay stated that the Fed will soon launch the “money printer,” after which Bitcoin, according to him, “will fly to the Moon.”
* The Japanese company Metaplanet plans to attract $100 million collateralized by BTC to buy even more Bitcoin.
* The Council of the island of Tenerife put up for sale 97 BTC, bought in 2012 for €10,000. Today these assets are estimated at approximately €10 million, which gives a potential profit of about 99,900%.

🔐 Exchanges and Regulation
* The General Director of Binance Richard Teng refuted reports that the exchange participated in the promotion of crypto projects connected with the Trump family.
* The DEX exchange Asterix, which is supported by CZ, plans to create a public blockchain network, oriented on confidentiality, with a zero gas fee.

🌍 Adoption and Partnerships
* Ripple and Mastercard announced a partnership. In a pilot project the stablecoin RLUSD on the XRP Ledger blockchain will be used for calculations on credit cards.
* Tether and the authorities of the Vietnamese city of Danang signed an agreement on cooperation for the development of digital infrastructure and the implementation of modern management technologies.
* The Central Bank of Kazakhstan is considering the idea of investing a part of the gold and currency reserves and assets of the National Fund into cryptocurrency and is preparing the creation of a state crypto reserve.

⚙️ Technologies and Innovations
* During the recent market fall, large investors (whales) bought up 323,523 ETH for the sum of $1.12 billion.
* Companies Nvidia and Deutsche Telekom are creating in Munich one of the largest in Europe “artificial intelligence factories” with a cost of €1 billion.