Bafang | Crypto Hot Topics 11.11
Last night’s hotter-than-expected CPI dealt crypto another blow. $BTC is now around 73,700, $ETH 2,060 or so, and the Fear & Greed Index has dropped back to 29.
🏦 Wall Street banks pool funds to launch a stablecoin
According to Bloomberg, a consortium of 21 institutions, including Goldman Sachs, Citi, Santander, and Deutsche Bank (internal code name: Project Faro), has committed around $270 million—enough to fund the new company for five years. It plans to launch a dollar stablecoin first, targeting the first half of 2027, then prioritize a euro version. A CEO hasn’t been found yet.
⛏ MARA sold 13,597 BTC in six weeks
After the end of the third quarter, it sold the coins at an average price of around $81,039, raising about $1.1 billion. It used $750 million to repay all its Bitcoin-backed loans. The company has said outright that it will sell more.
Meanwhile, Strategy bought another 1,036 BTC last week (11.2–11.8), bringing its total holdings to 850,364 BTC. One sells, the other buys.
💸 ETFs ultimately saw outflows on Monday
According to Farside data, spot BTC ETFs saw net outflows of around $201 million on 11.9, almost all of it from IBIT. The “small preliminary inflow” reported yesterday didn’t hold up.
🦓 Grayscale goes all in on Zcash, but the price isn’t buying it
Grayscale launched Zcash Invest on 11.10, ran an ad in The Wall Street Journal, and pledged $1 million to the ecosystem, of which $400,000 has already been distributed. That day, $ZEC fell more than 11%, briefly dropping below 1,000. It’s now around 1,029.
Bafang’s take: Banks competing to put dollars on-chain is a long-term story; miners selling coins to repay debt is an immediate pressure point. I’m not chasing a rally while rate-hike expectations persist. I’ll wait and see if ETF inflows return for several consecutive days.
MARA says it will keep selling. Do you think BTC will hit $70,000 first, or rebound to $80,000 before the end of the year?
(For informational purposes only; not investment advice)
#币圈热点 #稳定币 #Bitcoin
Last night’s hotter-than-expected CPI dealt crypto another blow. $BTC is now around 73,700, $ETH 2,060 or so, and the Fear & Greed Index has dropped back to 29.
🏦 Wall Street banks pool funds to launch a stablecoin
According to Bloomberg, a consortium of 21 institutions, including Goldman Sachs, Citi, Santander, and Deutsche Bank (internal code name: Project Faro), has committed around $270 million—enough to fund the new company for five years. It plans to launch a dollar stablecoin first, targeting the first half of 2027, then prioritize a euro version. A CEO hasn’t been found yet.
⛏ MARA sold 13,597 BTC in six weeks
After the end of the third quarter, it sold the coins at an average price of around $81,039, raising about $1.1 billion. It used $750 million to repay all its Bitcoin-backed loans. The company has said outright that it will sell more.
Meanwhile, Strategy bought another 1,036 BTC last week (11.2–11.8), bringing its total holdings to 850,364 BTC. One sells, the other buys.
💸 ETFs ultimately saw outflows on Monday
According to Farside data, spot BTC ETFs saw net outflows of around $201 million on 11.9, almost all of it from IBIT. The “small preliminary inflow” reported yesterday didn’t hold up.
🦓 Grayscale goes all in on Zcash, but the price isn’t buying it
Grayscale launched Zcash Invest on 11.10, ran an ad in The Wall Street Journal, and pledged $1 million to the ecosystem, of which $400,000 has already been distributed. That day, $ZEC fell more than 11%, briefly dropping below 1,000. It’s now around 1,029.
Bafang’s take: Banks competing to put dollars on-chain is a long-term story; miners selling coins to repay debt is an immediate pressure point. I’m not chasing a rally while rate-hike expectations persist. I’ll wait and see if ETF inflows return for several consecutive days.
MARA says it will keep selling. Do you think BTC will hit $70,000 first, or rebound to $80,000 before the end of the year?
(For informational purposes only; not investment advice)
#币圈热点 #稳定币 #Bitcoin