🪙 $BTC and the Elections: Is the Market Ready for a New High?

According to QCP Asia, Bitcoin has jumped 3.5%, surpassing the $70,000 mark for the first time in seven months.

The main drivers include capital inflows into spot ETFs, interest from institutional players, and political uncertainty leading up to the U.S. elections.

📈 Key $BTC Growth Drivers:

◽️ Billion-Dollar ETF Inflows — Spot Bitcoin ETFs attracted around $1 billion just last week, supporting the price.

◽️ Growth of Crypto Companies — Shares of miners like Core Scientific rose 6.2% after rating upgrades, while companies at the intersection of crypto and AI (IREN, Hut 8, Bitdeer) benefited from the increased demand for AI and Bitcoin growth.

◽️ Entry of Traditional Investor Funds — Emory University became the first university endowment to invest $15 million in the Grayscale Bitcoin Mini Trust, confirming that even conservative investors now see value in cryptocurrency.

📈 The Trump Effect and His Role

As Donald Trump’s chances of winning increase, both the stock market and Bitcoin gain extra support.

QCP Asia notes that his likely fiscal initiatives could increase inflationary pressure and lead to a higher deficit, creating an environment where BTC could act as a hedge for investors.

On Polymarket, Trump’s odds of victory have surpassed 30% (compared to a 1.5% difference in official polls with Harris).

This correlation between Trump’s prospects and Bitcoin’s growth supports the so-called “Trump trade,” where BTC is considered one of the assets that could benefit if he is elected.

📈 Strong Market Signals

Record BTC Options Interest — Open interest reached $41.7 billion, indicating strong demand for leveraged access to the asset.

December Options — The active rise in call options hints at expectations of a “post-election rally” and a possible all-time high.

📈 Trading Observations

BTC below $70,000 is likely to attract strong buying ahead of the election.

Options with an $80,000 strike by November 8 have already attracted over $200 million in interest.

If BTC holds above $70,000 this week, we may be on the path to a new all-time high — and possibly beyond.

📈 Conclusions:

1️⃣ BTC as a Hedge: In an environment of rising uncertainty and pre-election excitement, Bitcoin is solidifying its role as a safe-haven asset.

2️⃣ Post-Election Potential: The elections could boost the market — given the interest in BTC options, the asset could well surpass previous highs.

3️⃣ Institutional Interest: ETF inflows, university funds, and major companies confirm that traditional players' interest in crypto continues to grow, with Bitcoin increasingly perceived as a long-term value asset.

BTC + the elections could trigger a new growth cycle.

If current trends hold, November may be a historic month for $BTC.

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🟠 Binance Research: What’s Behind the Rise of Meme Coins?

Each year, meme coins grow in popularity.

What drives millions of investors to pour money into assets featuring dogs and memes?

Binance Research has published a report shedding light on the phenomenon of meme coins and their impact on the crypto market.

🔸 Key Insights

◽️ Market Share: Since 2022, meme coins' share among altcoins has grown from 4% to 11%, though it’s still below the 2021 peak of 12%.

At their height, $DOGE and $SHIB reached market caps of $80 billion and $39 billion, respectively.

◽️ Capital Inflow: Meme coins capture portions of investments that were previously directed into stocks and real estate.

◽️ New Project Growth: $WIF hit a $1 billion market cap in just 104 days.

By comparison, $SHIB took 279 days, and $DOGE required a full 8 years.

🔸 Why Are Investors Choosing Meme Coins?

#1: Financial Nihilism Among Youth

Inflation in the U.S. hit 7% in 2021 and 6.5% in 2022.

The average home price in 2021 required 8.1 years of salary, compared to just 4.4 years in 1963.

These conditions breed financial nihilism among younger generations, pushing them to seek rapid wealth-building opportunities.

94% of crypto investors are millennials and Gen Z.

#2: Fairness and Accessibility
Meme coins often launch without private funding rounds, giving everyone an equal chance to participate.

Their low market cap (low-float tokenomics) makes it easier to build a community and attract investments.

#3: Viral Effect
Memes are culture, and blockchain turns that culture into an asset.

Meme coins bring people together around shared ideas, transforming viral content into financial instruments.

⚠️ Risks Not to Be Overlooked

◽️ High Risk of Loss: 97% of meme coins become illiquid or fade into obscurity after their initial hype.

◽️ Manipulation and Schemes: Some groups create the illusion of activity through fake wallets and paid promotions.

◽️ Lack of Innovation: Meme coins rarely offer technological breakthroughs, which could slow down the overall progress of the crypto industry.

🟠 What’s Next?

According to Binance, meme coins reflect demand for assets that are accessible to everyone.

However, investors should remember: meme coins come with not just hype but also significant risks.

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📊 October Recap: Venture Growth and a Record-Breaking Deal

October was an eventful month for the crypto venture market, marked by a decline in the number of deals but a sharp increase in investment volumes.

According to RootData, 95 projects were publicly announced, a 3% decrease from September (98).

This is 16% higher compared to October 2023.

📊 Sector Breakdown

October’s investments were distributed as follows:

◽️ DeFi — 20%
◽️ NFT/GameFi — 14%
◽️ CeFi — 6%
◽️ L1/L2 — 15%
◽️ RWA/DePIN — 6%
◽️ Tools & Wallets — 4%
◽️ Artificial Intelligence — 8%

📊 Funding Volume Growth

Total investment volume in October reached $780M.

This is a 28% increase from September ($610M) and 73% higher than October last year ($450M).

Top 3 Deals of the Month:

1️⃣ Stripe x Bridge — $1.1B. The largest acquisition in crypto industry history.

2️⃣ Blockstream — $210M via convertible bond issuance to develop L2 solutions.

3️⃣Azra Games — $42.7M (Series A) for blockchain game development.

📊 What’s Next?

The growth in funding volumes indicates sustained investor confidence in the crypto sector despite fewer deals.

There’s a notable surge of interest in L2 solutions and DePIN.

Will November be just as dynamic? Stay tuned for new developments and investments.

Satoshi Tweeted🔑

🇨🇳 How Is China Preparing for Trump’s Return?

According to Bloomberg, China is launching its largest program to restructure hidden local government debts, allocating 10 trillion yuan ($1.4 trillion).

However, there are no significant stimulus measures to boost consumption yet.

Beijing appears to be conserving resources for potential trade conflicts with the U.S. when Trump returns to the White House.

🇨🇳 Key Details of the Program

◽️ Debt Limit Increase: Local governments will be allowed to issue bonds worth 6 trillion yuan over three years to replace “hidden” debt.

◽️ Additional Quota: Another 4 trillion yuan will be allocated over five years, including 2024.

◽️ Interest Savings: The program aims to save 600 billion yuan in interest payments over five years.

🇨🇳 Why Does This Matter?

1️⃣ Hidden Debt: By the end of 2023, the hidden debt volume reached 14.3 trillion yuan, according to Chinese authorities, while the IMF estimates it at 60 trillion yuan.

2️⃣ Less Pressure on Regions: Reducing the debt burden will free up resources for investment and consumption stimulation.

🇨🇳 Market Reaction

Despite the scale of the program, the market’s reaction has been muted.

The yuan weakened, and investors are anticipating further fiscal steps in December when the Politburo and Central Economic Conference will refine their strategies.

🇨🇳 Long-Term Plans

China’s next steps include:

◽️ Expanding the issuance of special bonds
◽️ Increasing support for equipment modernization and recycling programs
◽️ Boosting transfers from the central budget

🇨🇳 Conclusion

China is taking strategic measures to shield its economy from potential impacts of a new Trump administration.

Satoshi Tweeted🔑

📊 What Happened Last Week?

Last week was eventful for the crypto market: from Donald Trump’s historic victory to record inflows into Bitcoin ETFs. All of this occurred against the backdrop of growing interest in DeFi.

Let’s break down the key events that impacted the market and what to expect next.

1️⃣ Trump Back in the White House: What Does This Mean for Crypto?

Donald Trump secured victory in the election with 312 electoral votes. The result? Bitcoin surged by 8%, reaching a new all-time high of $75,000.

📈 Why It Matters:

Trump has pledged to turn the U.S. into a global crypto hub and establish a strategic Bitcoin reserve.

This paves the way for a new DeFi boom — Sky founder Rune Christensen predicts DeFi could grow 10x due to reduced regulatory uncertainty in the U.S.

2️⃣ Robinhood Nears SEC Leadership

Trump’s team is considering Dan Gallagher, Robinhood’s Chief Legal Officer, for SEC Chair.

Gallagher is known for his lenient approach to crypto regulation and support for innovation. Other candidates include Paul Atkins and Robert Stebbins.

3️⃣ Fed Lowers Interest Rate to 4.75%

The Federal Reserve cut rates by 25 basis points. Fed Chair Jerome Powell stated that inflation is slowing, but the economy remains stable.

4️⃣ Record Inflows into Bitcoin ETFs

On November 7, spot Bitcoin ETFs attracted $1.376 billion in a single day.

◽️ BlackRock: $1.12 billion
◽️ Fidelity: $191 million
◽️ Grayscale: $27.7 million

The market is clearly on the rise.

5️⃣ Detroit: Taxes Payable in Crypto

Detroit will become the largest U.S. city to allow tax payments in cryptocurrency. The new service is set to launch by mid-2025.

6️⃣ Coinbase vs. Binance: Listing Scandal

Coinbase allegedly charges up to $300 million for token listings, while Binance claims it doesn’t charge listing fees if a project fails its due diligence.

7️⃣ Global Dollar Network

Kraken, Paxos, and Robinhood are launching the Global Dollar Network to promote stablecoins. The new USDG stablecoin will operate on Ethereum.

8️⃣ Circle Expands to Hong Kong

Circle plans to open an office in Hong Kong and is awaiting new stablecoin regulations to apply for a license.

9️⃣ Ethereum Foundation: Nearly $1 Billion in Reserves

The Ethereum Foundation revealed that 99.45% of its crypto reserves are in ETH, totaling $970 million. This ensures the foundation can continue supporting ecosystem development even during a bear market.

✅ Conclusion:

The crypto market continues to show strength: record Bitcoin highs, ETF inflows, and positive regulatory developments.

Stay tuned as we monitor the evolving economic and political landscape.

Satoshi Tweeted🔑

📁 Arthur Hayes: Key Takeaways from His New Essay

In his latest essay, Arthur Hayes compares U.S. economic policy to Deng Xiaoping’s approach:

"It doesn’t matter whether a cat is black or white, as long as it catches mice."

According to Hayes, Trump is steering toward a model of “American Capitalism with Chinese Characteristics”,

where the primary goal is not ideology but maintaining power and stimulating growth.

📁 From Capitalism to Socialized Losses

The U.S. moved away from classic capitalism long ago.

Since the creation of the Federal Reserve in 1913, the wealthy have avoided taking responsibility for their losses.

Roosevelt partially reduced the class divide with his New Deal policies.

In modern times, Trump and Biden have taken it further, distributing direct payments to citizens through “stimmie” checks.

📁 QE for the Wealthy and the Middle Class

Hayes identifies two types of Quantitative Easing (QE).

Between 2008 and 2020, money primarily flowed into the financial sector, driving up asset prices without stimulating real economic growth.

During the COVID-19 pandemic, starting in 2020, a new era began — QE for the middle class.

Funds were distributed directly to people, accelerating economic growth: every $1 of debt created more than $1 of economic activity.

📁 Inflation and the Bondholder Revolt

Economic stimulus through “stimmie” checks led to rising inflation, which displeased bondholders.

The Fed raised interest rates, but the Treasury mitigated their impact by issuing short-term bonds.

This created conditions for further asset price increases, including BTC.

📁 Bitcoin on Its Way to $1 Million?

According to Hayes, Trump’s new administration will continue increasing debt to reindustrialize the economy.

This will create ideal conditions for cryptocurrencies.

Hayes predicts that Bitcoin could reach $1 million, given its limited supply and the growing money supply.

Key Points from the Essay:

◽️ U.S. economic policy increasingly mirrors the Chinese model.

◽️ QE for the poor stimulates the real economy.

◽️ Inflation and rising rates won’t halt debt expansion.

◽️ Bitcoin is the primary asset as the dollar weakens.

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