Key events in the crypto world in the past 24 hours! A quick 1-minute overview of overnight market movements | November 21st
TL;DR
Crypto markets saw sharp declines in BTC, ETH, and SOL, with the Fear Index hitting extreme fear levels. Key events include Base token issuance concerns, SOL's resilience, and BlackRock's IBIT outflows. Government BTC confiscations and trader strategies highlight ongoing market pressures.
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🚨A roundup of the hottest Crypto news from last night – get the market focus in just 1 minute!
1⃣ BTC, ETH, and SOL all plummeted, with SOL showing relative strength. US stocks initially rose but then fell, dragging down the entire market; Nvidia closed lower. On Polymarket, the probability of no rate cut in December rose to 66%.
2⃣ The Crypto Fear Index has fallen to 14 (extreme fear). Historical data suggests this may indicate that prices are entering a temporary bottoming phase. However, this index is a lagging indicator, reflecting established facts rather than future predictions.
3⃣ #Base co-founder Jesse issued #jesse, with a market capitalization of 19 million. Scientists managed to snipe 7.6% of the tokens; this issuance model is worrying~
4⃣SOL has not hit a new low in recent days, possibly because Solana posted on social media that "Something big is coming." In addition, its spot ETF has recorded 17 consecutive days of net inflows.
5⃣ BlackRock's IBIT saw a massive net outflow of $1.7822 billion this month, largely due to the combined effects of macro market sentiment, investor behavior, and derivatives structure.
6⃣ Bitmine increased its holdings by 17,242 ETH, bringing its total holdings to approximately 3.56 million ETH, making it the second-largest holding in the Treasury sector after Strategy. Tom Lee is now in a difficult position.
7⃣From the Qian Zhimin case to the Prince Group case, nearly 200,000 BTC have been confiscated by the government. The bearish conspiracy theory believes that this has scared investors and made the "black market" lose confidence in BTC.
8⃣ Investors who engaged in "left-side trading" have suffered heavy losses. Trader Chen Guilin's view: There's no need to trade on the left side now. Since the price has already fallen significantly, just wait for the right side.
9⃣KOL Chris Burniske: The era of DAT sales has just begun. Just like when we rose to prominence, this time we are heading down.