Bafang | Crypto Hotspots 11.12
The market is much the same. Around $BTC 73,700, hovering around $ETH 2,050, and the Fear & Greed Index is at 28, down another point from yesterday. The real news today is happening off the market.
📉 MSCI drops Strategy from its index
MSCI’s November index review results are out: Strategy will be removed from the MSCI USA Index. Japan’s Metaplanet and Upexi, which holds SOL, are also on the removal list. The changes take effect after the market close on 11.30. Ethereum treasury company SharpLink has been placed on the watch list. The reason given is that these companies are more like funds than operating businesses.
Strategy fell about 2.5% after hours. The market had previously estimated passive selling of up to around $2.8 billion. Strategy itself says index funds hold only about 13 million shares, or 3.1%—less than a day’s trading volume.
🏛 The White House buying Bitcoin? The law stands in the way
Former White House crypto adviser Patrick Witt says Trump still wants to buy Bitcoin for the Strategic Bitcoin Reserve, but directly purchasing it on the open market may not be legal. Congress has already added a provision banning it to the National Defense Authorization Act. Bypassing that would require explicit authorization from Congress.
👛 Another Sui ecosystem project shuts down
Sui wallet Suiet has announced it is shutting down, with API support continuing only until 11.14. Assets remain on-chain, but back up your recovery phrase as soon as possible and import it into another wallet. Phantom had already ended Sui support in September, and hardware wallet project Suiball has also announced its closure. According to DefiLlama, Sui’s TVL has dropped by more than 22% in a month. $SUI is now around 0.82.
💸 ETF outflows continue for four days
According to Farside, spot BTC ETFs saw net outflows of around $95 million on 11.10, marking a fourth consecutive trading day of outflows—though much less than the $400–500 million seen in the previous few days.
🇭🇰 Hong Kong police have busted a cross-border money-laundering syndicate that used virtual currency exchange shops, arresting 22 people. The suspects allegedly laundered more than HK$150 million between August and October.
Bafang’s take: The MSCI removal was widely expected. What really matters is how large the selling will be around 11.30, and whether it will become harder for treasury companies to raise funds to buy coins in the future. Be careful of “migration tool” scams in the Sui ecosystem—never give your recovery phrase to anyone who asks for it.
After MSCI’s move, do you think Strategy will keep buying BTC, or slow down?
(For informational purposes only; not investment advice.)
#币圈热点 #MSCI #Bitcoin
The market is much the same. Around $BTC 73,700, hovering around $ETH 2,050, and the Fear & Greed Index is at 28, down another point from yesterday. The real news today is happening off the market.
📉 MSCI drops Strategy from its index
MSCI’s November index review results are out: Strategy will be removed from the MSCI USA Index. Japan’s Metaplanet and Upexi, which holds SOL, are also on the removal list. The changes take effect after the market close on 11.30. Ethereum treasury company SharpLink has been placed on the watch list. The reason given is that these companies are more like funds than operating businesses.
Strategy fell about 2.5% after hours. The market had previously estimated passive selling of up to around $2.8 billion. Strategy itself says index funds hold only about 13 million shares, or 3.1%—less than a day’s trading volume.
🏛 The White House buying Bitcoin? The law stands in the way
Former White House crypto adviser Patrick Witt says Trump still wants to buy Bitcoin for the Strategic Bitcoin Reserve, but directly purchasing it on the open market may not be legal. Congress has already added a provision banning it to the National Defense Authorization Act. Bypassing that would require explicit authorization from Congress.
👛 Another Sui ecosystem project shuts down
Sui wallet Suiet has announced it is shutting down, with API support continuing only until 11.14. Assets remain on-chain, but back up your recovery phrase as soon as possible and import it into another wallet. Phantom had already ended Sui support in September, and hardware wallet project Suiball has also announced its closure. According to DefiLlama, Sui’s TVL has dropped by more than 22% in a month. $SUI is now around 0.82.
💸 ETF outflows continue for four days
According to Farside, spot BTC ETFs saw net outflows of around $95 million on 11.10, marking a fourth consecutive trading day of outflows—though much less than the $400–500 million seen in the previous few days.
🇭🇰 Hong Kong police have busted a cross-border money-laundering syndicate that used virtual currency exchange shops, arresting 22 people. The suspects allegedly laundered more than HK$150 million between August and October.
Bafang’s take: The MSCI removal was widely expected. What really matters is how large the selling will be around 11.30, and whether it will become harder for treasury companies to raise funds to buy coins in the future. Be careful of “migration tool” scams in the Sui ecosystem—never give your recovery phrase to anyone who asks for it.
After MSCI’s move, do you think Strategy will keep buying BTC, or slow down?
(For informational purposes only; not investment advice.)
#币圈热点 #MSCI #Bitcoin