The rebound in Bitcoin prices was not affected by the October bull market miners' sell-offIf you want to huddle together for warmth, or if you have any doubts, Guan Zhu, V Xin, and Gong Chong: You want soft rice and hard food.The price of Bitcoin is on the rise, and despite large-scale selling by miners, Bitcoin remains above $35000
The rebound in Bitcoin prices was not affected by the October bull market miners' sell-off
If you want to huddle together for warmth, or if you have any doubts, Guan Zhu, V Xin, and Gong Chong: You want soft rice and hard food.The price of Bitcoin is on the rise, and despite large-scale selling by miners, Bitcoin remains above $35000. According to a Bloomberg report, the top 13 public cryptomining companies sell slightly more Bitcoins than all Bitcoins they manufactured in October.
Bitcoin miners sold the asset to profit during the Bitcoin rebound in October. Despite the increasing selling pressure on assets from these sales, Bitcoin continues to rise. As the third half cycle approaches completion, Bitcoin prices exhibit low to median volatility, which is a sign of maturing assets.
2Matriexport: Next week's US CPI data may trigger another round of Bitcoin's rise
Singapore's crypto financial services company Matrixport has released its latest report stating that traders may expect inflation to decline again, which supports risky assets from a macro liquidity perspective. If inflation drops again, next week's US CPI data may trigger another round of Bitcoin's rise. Prior to the release of this data, it can be seen that Bitcoin is attempting to break through the recent trading range of $34000- $35000. Breaking through $36000 may push Bitcoin towards the next technical resistance level of $40000, possibly reaching $45000 by the end of 2023. It is worth noting that despite Bitcoin's decline during Asian trading hours, there has been sustained and gradual purchasing activity during US trading hours. One possible explanation is that Asian traders prefer counterfeit currency over Bitcoin.
Last week, three "macro positive" data emerged: 1. The US Treasury Department has slowed down the pace of long-term bond issuance, indicating that bond yields should decline; 2. Chairman Powell's dove stance at the press conference after the FOMC meeting indicates that the Federal Reserve is unlikely to raise interest rates again within the cycle; 3. The US employment data is disappointing, reinforcing the first two points. The next key macro data point will be the US CPI (inflation) data, scheduled to be released next Tuesday (November 14th). With a steady increase in buyers during US trading hours and attempts to break through Bitcoin, we may see prices rebound at the end of the month (and this year). The Santa Claus market may start at any time.
HSBC will collaborate with Metaco to provide digital asset custody services such as token securities to institutional clients
According to Bloomberg, HSBC will collaborate with Metaco, a technology company under RippleLabs, to provide digital asset custody services such as token securities to institutional clients. The service is expected to be launched in 2024. This issuance will supplement HSBC's digital asset issuance platform called HSBCOrion and the bank's tokenized gold issuance system launched last week. Previously, it was reported in May that Ripple acquired crypto hosting company Metaco for $250 million.
The Central Bank of the United Arab Emirates has released new guidelines to punish unlicensed virtual asset service providers
According to Cointelgraph, the Central Bank of the United Arab Emirates (CBUAE) and the National Committee against Money Laundering, Terrorist Financing, and Financing of Illegal Organizations (NAMLCFTC) have recently released new joint guidelines for virtual asset service providers (VASPs) operating in the country. The new guidelines include penalties for VASPs within their jurisdiction that do not have appropriate permits.
These regulatory agencies have issued a list called VASP 'danger signals'. The list includes a lack of regulatory permission, unrealistic commitments, poor communication, lack of regulatory disclosure, and more suspicious indicators. In the new document, the central bank also pointed out that VASP operating in the UAE without a valid license will face "civil and criminal penalties, including but not limited to financial sanctions against entities, owners, and senior management personnel". In addition, the document emphasizes that licensed financial institutions, designated non-financial enterprises, and licensed VASPs that demonstrate a willingness to deal with unlicensed VASPs will also be subject to sanctions from law enforcement agencies.
5 Meituan: AI product Wow is still in the trial stage
Meituan recently launched an independent app called "Wow". Meituan insiders stated that Wow is an entrepreneurial project within Meituan's internal team, providing users with an AI interactive experience and is an AI product that is still in the trial stage. It is understood that this product is based on multiple registered basic language models in China, and is still undergoing technical and functional iterations. The product experience will continue to be improved in the future.
6 Swiss cryptocurrency bank SEBABank has obtained the official license for cryptocurrency related services in Hong Kong
According to TheBlock, Swiss cryptocurrency bank SEBABank stated that its Hong Kong subsidiary has obtained an official license from the Hong Kong Securities Regulatory Commission to operate cryptocurrency related services.
SEBA stated in a statement today that the license allows SEBA Hong Kong to trade and distribute all securities, including virtual asset related products, such as over-the-counter derivatives and structured products with underlying virtual assets. Cryptocurrency banks can also provide advice on securities and virtual assets, and manage assets in discretionary accounts for traditional securities and virtual assets.
Earlier in August, it was reported that Swiss cryptobank SEBABank had obtained principle approval from the Hong Kong Securities Regulatory Commission to provide crypto related product transactions.
Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.(Email:[email protected])
