1. Trump's Crypto Advocacy Ignites Market Surge
Bitcoin has soared past $85,000, nearing a historic $90,000 milestone, fueled by Donald Trump's pro-crypto stance following his U.S. presidential election victory. Key developments:
- Price Momentum: BTC peaked at $87,800 (Nov 12 UTC+8), with altcoins like Dogecoin (+100% weekly) and Ethereum (+40% weekly) following suit.
Market Impact:
- $570M in liquidations (70% from short positions)
- Crypto stocks surged: Cana (41%), MSTR (25%), COIN (19%)
Driving Factors:
- Institutional adoption by hedge/pension funds
- Bitcoin ETF inflows
Trump's campaign promises:
- Recognizing BTC as strategic asset
- Reducing regulatory barriers
- Launching NFT collections (e.g., Bitcoin 2024 Conference)
2. Crypto Market Cap Breaks $3T Record
Global cryptocurrency valuation reached $3.11T (+6.8% daily), surpassing its 2021 peak. Market share distribution:
| Asset | Dominance |
|---|---|
| BTC | 56.3% |
| ETH | 13% |
24-hour trading volume: $355.6B
3. UK's Blockchain-Based Digital Bonds
Britain plans to trial tokenized government debt within two years:
- Aims to modernize £382B borrowing program
- Potential parliamentary approval required
- Expected benefits: Faster settlements, lower transaction costs
4. Putin Proposes BRICS Digital Asset Platform
Russia's initiative seeks to:
- Facilitate cross-border e-payments
- Attract emerging market investments
- Reduce dollar dependency (without abandoning USD)
Key Focus Areas:
- Rapid urbanization zones
- Alternative to Western financial systems
5. South Korea's Crypto Tax Debate
Opposition parties reject proposed 2-year delay on:
- Virtual asset capital gains tax
- Current implementation target: 2025
FAQs
Q: Why is Bitcoin price surging?
A: Combination of Trump's endorsement, institutional adoption, and ETF inflows.
Q: How does UK's digital bond work?
A: Uses blockchain to tokenize debt for efficient trading.
Q: What's BRICS digital platform's goal?
A: To create payment alternatives amid geopolitical tensions.
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