CoinEx Daily:Bitcoin Drops Briefly to $92,500; MicroStrategy buys BTC again
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Overview
Bitcoin saw a sharp intraday drop to $92,500. Meanwhile, MicroStrategy made another substantial BTC purchase, acquiring $5.5 billion worth of Bitcoin at an average price of $97,000. The purchase adds 55,500 BTC to its holdings, bringing the total to 386,700 BTC. Year-to-date, MicroStrategy has generated a net profit equivalent to approximately 112,125 BTC for its shareholders.
Daily Macro
Bitcoin Market Status: Bitcoin’s price has retraced to $94,500, while the altcoin market has not experienced significant declines.
Bitcoin ETF Activity: Preliminary data for November 26 reports a $434million net outflow yesterday.
Ethereum ETF Activity: Preliminary data for November 26 reports a $2.83 million net inflow yesterday.
Macroeconomic Data: The Federal Reserve will release initial jobless claims data tomorrow. Forecast: 217,000 claims; Previous: 213,000 claims.
Daily Focus
AVAX
Reason for Focus: Avalanche launched a major upgrade named “Avalanche9000” on its testnet on Monday. This upgrade includes several technical enhancements aimed at reducing blockchain deployment costs by 99.9%. Additionally, a $40 million retroactive grant program called Retro9000 has been introduced to reward developers building L1 blockchains and tools on the Avalanche9000 testnet.
Related Token Performance (7D):
AVAX: +4%
Market Analysis: The Avalanche upgrade significantly lowers the cost of developing ecosystem products, and its incentive program is expected to attract more users and developers.
Next Focus
DEXX
Reason for Focus: The wallet address associated with the DEXX hack, responsible for significant asset theft on the Solana chain, has resumed activity. Security expert Cosine from SlowMist reported on X that various tokens linked to the hacker’s Solana address have been converted into SOL, though these SOL tokens have yet to be moved further.
Market Analysis: This event led to the theft of a large volume of on-chain MEME assets, triggering a decline in their prices.