CEO MicroStrategy Michael Saylor menanggapi ulasan klasifikasi dari MSCI dengan menggambarkan perusahaannya sebagai bisnis operasi hybrid, bukan sebuah dana investasi.

Klarifikasi ini muncul di tengah konsultasi formal tentang bagaimana perusahaan treasury aset digital (DATs) harus diperlakukan dalam indeks ekuitas utama, sebuah keputusan yang bisa memiliki dampak besar pada MSTR.

Michael Saylor Tegaskan: “MicroStrategy Bukan Fund atau Trust” di Tengah Pengawasan MSCI

Dalam sebuah postingan detail di X (Twitter), Saylor menekankan MicroStrategy bukanlah sebuah dana, bukan trust, dan bukan perusahaan holding.

“Kami adalah perusahaan operasi yang diperdagangkan secara publik dengan bisnis perangkat lunak senilai US$500 juta dan strategi treasury unik yang menggunakan Bitcoin sebagai modal produktif,” ujar dia menjelaskan.

Pernyataan ini memposisikan MicroStrategy lebih dari sekadar holder Bitcoin, dengan Saylor mencatat bahwa dana dan trust memegang aset secara pasif.

“Perusahaan holding hanya duduk di atas investasi. Kami menciptakan, menyusun, mengeluarkan, dan mengoperasikan,” tambah Saylor, menyoroti peranan aktif perusahaan dalam keuangan digital.

Tahun ini, MicroStrategy menyelesaikan lima penawaran publik sekuritas kredit digital: STRK, STRF, STRD, STRC, dan STRE. Jumlah ini mencapai lebih dari US$7,7 miliar dalam nilai nominal.

Perlu dicatat, Stretch (STRC) adalah instrumen treasury yang didukung oleh Bitcoin dan menawarkan hasil USD variabel bulanan kepada investor institusional dan ritel.

Saylor menggambarkan MicroStrategy sebagai perusahaan keuangan terstruktur yang didukung oleh Bitcoin yang beroperasi di pertemuan pasar modal dan inovasi perangkat lunak.

“Tidak ada kendaraan pasif atau perusahaan holding yang bisa melakukan apa yang kami lakukan,” ucap dia, menekankan bahwa klasifikasi indeks tidak mendefinisikan perusahaan tersebut.

Mengapa Keputusan MSCI Penting

Konsultasi MSCI dapat mengklasifikasikan kembali perusahaan seperti MicroStrategy sebagai dana investasi, menjadikannya tidak memenuhi syarat untuk indeks utama seperti MSCI USA dan MSCI World.

Pengecualian ini bisa memicu miliaran dalam arus keluar pasif dan meningkatkan volatilitas pada $MSTR, yang saat ini turun sekitar 70% dari titik tertingginya.

Taruhannya melampaui MicroStrategy. Pembelaan Saylor menentang norma tradisional keuangan (TradFi), mempertanyakan apakah perusahaan operasi yang didorong oleh Bitcoin dapat mempertahankan akses ke modal pasif tanpa dilabeli sebagai dana.

MicroStrategy memegang 649.870 Bitcoin, dengan biaya rata-rata US$74.430 per koin. Nilai perusahaannya mencapai US$66 miliar, dan perusahaan ini mengandalkan penawaran ekuitas dan utang terstruktur untuk mendanai strategi akumulasi Bitcoinnya.

Putusan MSCI, yang diharapkan keluar pada 15 Januari 2026, bisa menguji kelayakan model treasury hybrid seperti ini di pasar publik.

Nvidia adalah salah satu pemenang terbesar dari ledakan AI. Hasil kuartal terakhir menunjukkan pendapatan US$57 miliar dan laba US$31,9 miliar – angka yang memecahkan rekor dalam ukuran apapun.

Akan tetapi, alih-alih merayakan, saham berayun liar: naik 5% setelah pengumuman laba, kemudian turun dalam waktu 18 jam. Investor, algoritma, dan pengamat pasar kini mengajukan pertanyaan penting: Apakah pertumbuhan AI Nvidia sekuat yang terlihat di atas kertas?

Model Pembiayaan NVIDIA Mendapat Sorotan saat Investor Ternama Bertaruh Melawannya

Tanda peringatan pertama adalah uang yang belum benar-benar dibayar. Nvidia memiliki tagihan pelanggan yang belum dibayar sebesar US$33,4 miliar, hampir dua kali lipat dari tahun lalu. Rata-rata, pelanggan membutuhkan 53 hari untuk membayar, naik dari 46 hari.

Sementara itu, perusahaan memiliki US$19,8 miliar dalam bentuk chip yang belum terjual, namun manajemen mengatakan permintaan sangat tinggi.

“Keduanya tidak bisa benar…Entah pelanggan tidak membeli atau mereka membeli tanpa uang tunai. Arus kas yang menceritakan kisah nyata,” ujar Shanaka Perera dalam sebuah unggahan.

Peringatan lain adalah kesenjangan antara laba dan kas nyata. Nvidia melaporkan laba sebesar US$19,3 miliar, namun hanya menghasilkan US$14,5 miliar dalam bentuk kas. Artinya, US$4,8 miliar dari “laba” belum benar-benar muncul di bank.

Sebagai perbandingan, pembuat chip lain seperti TSMC dan AMD hampir seluruh laba mereka dalam bentuk kas. Tingkat konversi yang lebih rendah dari Nvidia menimbulkan pertanyaan tentang seberapa nyata pertumbuhannya.

“Perusahaan chip sehat seperti TSMC dan AMD mengonversi lebih dari 95% laba ke kas. Nvidia mengonversi 75%. Itu tingkat yang mengkhawatirkan,” tambah Perera.

Hal ini semakin rumit ketika melihat bagaimana perusahaan AI saling membeli. Nvidia menjual chip ke perusahaan seperti xAI, Microsoft, OpenAI, dan Oracle. Banyak dari transaksi ini didanai oleh pinjaman atau kredit dari perusahaan yang sama, yang berarti uang yang sama dihitung berkali-kali sebagai pendapatan.

Michael Burry Memperingatkan Tentang Pendapatan dan Permintaan Nvidia

Michael Burry, investor yang terkenal karena memprediksi krisis 2008, menyebut ini sebagai “pengakuan pendapatan yang mencurigakan,” memperingatkan bahwa permintaan sebenarnya dari pengguna akhir mungkin sangat kecil.

Every company listed below has suspicious revenue recognition. The actual chart with ALL the give-and-take deals would be unreadable. The future will regard this a picture of fraud, not a flywheel. True end demand is ridiculously small. Almost all customers are funded by their… pic.twitter.com/0XyGQ8FjuE

— Cassandra Unchained (@michaeljburry) November 19, 2025

Burry juga menunjukkan bahwa pembelian kembali saham Nvidia mungkin menyembunyikan risiko lain. Sejak 2018, perusahaan telah menghabiskan US$112,5 miliar untuk pembelian kembali, namun tetap menerbitkan saham baru.

Ini efektif mengencerkan kepemilikan pemegang saham yang ada. Dia juga mempertanyakan apakah GPU lama yang menggunakan lebih banyak listrik daripada model baru, benar-benar seberharga yang diklaim perusahaan.

“Hanya karena sesuatu digunakan bukan berarti itu menguntungkan,” dia ujar.

Beberapa investor besar nampaknya sependapat. Peter Thiel dikabarkan menjual semua saham Nvidia-nya, dan SoftBank menjual senilai US$5,8 miliar.

Peter Thiel reportedly sold his entire position of 537,742 shares in Nivdia.

Why? It’s a bubble, they all know it & are cashing out.

– Nvidia ALONE = 15% of US GDP.
-OpenAi wants a govt bailout.
– US Growth is .01% when you remove AI sector. pic.twitter.com/mk3Nc6yBpk

— Maine (@TheMaineWonk) November 17, 2025

Pada saat yang sama, spekulasi yang terkait dengan AI nampaknya mempengaruhi pasar kripto. Bitcoin turun hampir 30% sejak Oktober, sebagian karena startup AI menahan US$26,8 miliar dalam bentuk Bitcoin sebagai jaminan, yang bisa dijual jika saham Nvidia jatuh lebih jauh.

Nvidia, $NVDA, CEO Jensen Huang told staff 'the whole world would've fallen apart' if Nvidia delivered a bad quarter, per BI

— unusual_whales (@unusual_whales) November 21, 2025

Tidak semua orang merasa khawatir. Pendukung mengatakan Nvidia memiliki arus kas sebesar US$23,8 miliar, pesanan besar dari perusahaan seperti Microsoft dan Meta, dan bahwa beberapa kesepakatan antar perusahaan adalah hal yang lazim dalam industri teknologi.

Namun, sebuah survei baru-baru ini oleh Bank of America menunjukkan bahwa 45% manajer dana melihat AI sebagai risiko gelembung pasar utama, sebuah kekhawatiran yang juga diungkapkan oleh regulator global, termasuk IMF dan Bank of England.

Beberapa bulan ke depan mungkin sangat penting. Analis memantau hasil kuartal keempat Nvidia pada Februari 2026, kemungkinan penurunan peringkat kredit pada Maret, dan pernyataan ulang pada April.

Bagaimana kinerja perusahaan ini bisa menentukan apakah ledakan AI berlanjut atau jika kepanikan pasar baru-baru ini menandakan awal perlambatan yang lebih luas. Bagaimanapun, cerita Nvidia kini menjadi kasus uji untuk era teknologi yang didorong oleh AI.

MicroStrategy CEO Michael Saylor fired back at MSCI’s review of the company’s classification, framing his firm as a hybrid operating business, not an investment fund.

The clarification comes amid a formal consultation on how digital asset treasury companies (DATs) should be treated in flagship equity indexes, a decision that could have major market consequences for MSTR.

Michael Saylor Draws the Line: “MicroStrategy Is Not a Fund or Trust” Amid MSCI Scrutiny

In a detailed post on X (Twitter), Saylor emphasized MicroStrategy is not a fund, not a trust, and not a holding company.

“We’re a publicly traded operating company with a $500 million software business and a unique treasury strategy that uses Bitcoin as productive capital,” he articulated.

The statement positions MicroStrategy as more than a Bitcoin holder, with Saylor noting that funds and trusts hold assets passively.

“Holding companies sit on investments. We create, structure, issue, and operate,” Saylor added, highlighting the company’s active role in digital finance.

This year, MicroStrategy completed five public offerings of digital credit securities: STRK, STRF, STRD, STRC, and STRE. These total more than $7.7 billion in notional value.

Notably, Stretch (STRC) is a Bitcoin-backed treasury instrument that offers variable monthly USD yields to both institutional and retail investors.

Saylor describes MicroStrategy as a Bitcoin-backed structured finance company that operates at the intersection of capital markets and software innovation.

“No passive vehicle or holding company could do what we’re doing,” he said, stressing that index classification does not define the company.

Why MSCI’s Decision Matters

MSCI’s consultation could reclassify firms like MicroStrategy as investment funds, making them ineligible for key indexes such as MSCI USA and MSCI World.

Exclusion could trigger billions in passive outflows and heighten volatility in $MSTR, which is already down roughly 70% from its all-time high.

The stakes extend beyond MicroStrategy. Saylor’s defense challenges traditional finance (TradFi) norms, asking whether Bitcoin-driven operating companies can maintain access to passive capital without being labeled as funds.

MicroStrategy holds 649,870 Bitcoin, with an average cost of $74,430 per coin. Its enterprise value stands at $66 billion, and the company has relied on equity and structured debt offerings to fund its Bitcoin accumulation strategy.

The MSCI ruling, expected by January 15, 2026, could test the viability of such hybrid treasury models in public markets.

The post “Not a Fund, Not a Trust”: Saylor Draws the Line as MSCI Considers MicroStrategy’s Fate appeared first on BeInCrypto.

Nvidia is one of the biggest winners of the AI boom. Its latest quarterly results showed $57 billion in revenue and $31.9 billion in profit, record numbers by any measure.

But instead of celebrating, the stock swung wildly: up 5% after earnings, then down again within 18 hours. Investors, algorithms, and market watchers are now asking a critical question: Is Nvidia’s AI growth as solid as it looks on paper?

NVIDIA’s Financing Model Draws Scrutiny as Big-Name Investors Bet Against It

The first warning sign is money that has not actually been paid. Nvidia has $33.4 billion in unpaid customer bills, nearly double what it had a year ago. On average, customers are taking 53 days to pay, up from 46 days.

Meanwhile, the company is sitting on $19.8 billion of unsold chips, yet management says demand is through the roof.

“Both cannot be true…Either customers aren’t buying or they’re buying without cash. The cash flow tells the real story,” said Shanaka Perera in a post.

Another red flag is the gap between profits and actual cash. Nvidia reported $19.3 billion in profit, but it generated only $14.5 billion in cash. That means $4.8 billion of its “profit” has not actually appeared in the bank.

For comparison, other chipmakers like TSMC and AMD turn almost all of their profits into cash. Nvidia’s lower rate raises questions about how much of its growth is real.

“Healthy chip companies like TSMC and AMD convert over 95% of profits to cash. Nvidia converts 75%. That’s distress level,” Perera added.

Things get even more complicated when you look at how AI companies buy from each other. Nvidia sells chips to firms like xAI, Microsoft, OpenAI, and Oracle. Many of these deals are funded by loans or credits from the same companies, meaning the same money is counted multiple times as revenue.

Michael Burry Sounds the Alarm on Nvidia’s Revenue and Demand

Michael Burry, the investor famous for predicting the 2008 crash, refers to this “suspicious revenue recognition,” warning that the actual demand from end-users may be very small.

Every company listed below has suspicious revenue recognition. The actual chart with ALL the give-and-take deals would be unreadable. The future will regard this a picture of fraud, not a flywheel. True end demand is ridiculously small. Almost all customers are funded by their… pic.twitter.com/0XyGQ8FjuE

— Cassandra Unchained (@michaeljburry) November 19, 2025

Burry also pointed out that Nvidia’s stock buybacks may be hiding another risk. Since 2018, the company has spent $112.5 billion on buybacks, while still issuing new shares.

That effectively dilutes existing shareholders. He also questioned whether older GPUs, which use far more electricity than newer models, are really as valuable as the company claims.

“Just because something is being used doesn’t mean it’s profitable,” he said.

Some big investors seem to agree. Peter Thiel reportedly sold all of his Nvidia shares, and SoftBank sold $5.8 billion worth on November 11. Michael Burry bought put options betting Nvidia would crash to $140 by March 2026.

Peter Thiel reportedly sold his entire position of 537,742 shares in Nivdia.

Why? It’s a bubble, they all know it & are cashing out.

– Nvidia ALONE = 15% of US GDP.
-OpenAi wants a govt bailout.
– US Growth is .01% when you remove AI sector. pic.twitter.com/mk3Nc6yBpk

— Maine (@TheMaineWonk) November 17, 2025

At the same time, AI-linked speculation appears to be affecting crypto markets. Bitcoin has dropped nearly 30% since October, partly because AI startups hold $26.8 billion in Bitcoin as collateral, which could be sold if Nvidia’s stock falls further.

Nvidia, $NVDA, CEO Jensen Huang told staff 'the whole world would've fallen apart' if Nvidia delivered a bad quarter, per BI

— unusual_whales (@unusual_whales) November 21, 2025

Not everyone is worried. Supporters argue that Nvidia has $23.8 billion in cash flow, huge orders from companies like Microsoft and Meta, and that some of the inter-company deals are standard in the tech industry.

Still, a recent survey by Bank of America shows that 45% of fund managers view AI as a major market bubble risk, a concern echoed by global regulators, including the IMF and Bank of England.

The next few months may be critical. Analysts are watching Nvidia’s fourth-quarter results in February 2026, possible credit downgrades in March, and any restatements in April.

How the company performs could decide whether the AI boom continues or if the recent market panic signals the start of a broader slowdown. Either way, the Nvidia story is now the test case for the AI-driven tech era.

The post Is This the Pin That Pops the AI Bubble? The Reason Why Burry and Thiel Are Bearish on Nvidia appeared first on BeInCrypto.

The XRP price has dropped below the $2.00 psychological level, revisiting levels last seen during the October 10 crash.

In comes amid a broader bearish sentiment in the crypto market, that saw the Bitcoin price fall below the $87,000 level and $220 million longs blown out of the water within the hour.

XRP Price Retests June Lows As it Falls Below $2

As of this writing, the powering token for the Ripple ecosystem was trading at $1.98, down 2.5% in the last 24 hours and nearly 16% in the last week.

The drop came as Bitcoin pulled the broader crypto market down after slipping below $87,000 and blowing over $220 million worth of long positions out of the water in an hour.

Surprisingly, the drop came while the Ripple community was still in the XRP ETF frenzy, following Bitwise Invest’s recent move to launch the financial instrument.

Very excited to launch the Bitwise XRP ETF $XRP. What a journey for this asset and this community. Excited to see what’s next.

— Matt Hougan (@Matt_Hougan) November 20, 2025

In fact, Ripple CEO Brad Garlinghouse had only hours ago called the “pre-thanksgiving rush” for the XRP ETF as the financial instrument first hit the NYSE.

The pre-thanksgiving rush (shall we say, 'turkey trot'!?) for XRP ETFs starts now.. congrats @BitwiseInvest on today's launch! https://t.co/EgYVrm0TmM

— Brad Garlinghouse (@bgarlinghouse) November 20, 2025

Nonetheless, ETF analyst James Seyffart revealed that the financial instrument was already making a name for itself, garnering $22 million in trading with three hours left before trading closed on November 20.

“With a bit over ~3 hours left in trading Bitwise’s XRP is almost at $22 million in trading today. Quite impressive for the second product to market a full week after Canary Capital’s XRPC, which is the #1 launch by volume this year,” wrote Seyffart.

Canary Capital’s XRP ETF saw strong early demand, with Bitwise’s financial instrument following suit despite recent sentiment in the crypto ETF market.

However, concerns exist for the XRP community after Glassnode revealed a decline in the volume of supply that is currently in profit. Clearly, there is a disconnect between the ETF’s strong inflows and the XRP price performance.

The share of XRP supply in profit has fallen to 58.5%, the lowest since Nov 2024, when price was $0.53.
Today, despite trading ~4× higher ($2.15), 41.5% of supply (~26.5B XRP) sits in loss — a clear sign of a top-heavy and structurally fragile market dominated by late buyers.
📉… https://t.co/CBXPzDalxV pic.twitter.com/UpLNKV7LqD

— glassnode (@glassnode) November 17, 2025

Well, XRP whales contributed significantly to the recent price drop. Reports indicate whales sold around 200 million XRP within 48 hours of the ETF launch.

Meanwhile, analysts say it may take until 2026 for institutional flows to show up, which means next year is when the impact of the XRP ETF can really be felt on the Ripple price.

Why is XRP dropping even after ETF launches?

Because the market misunderstood the play.

Retail:
Thought ETFs would instantly FOMO into XRP → rushed in early → heavy speculation.

Institutions:
• Launch ETF
• APs send cash
• Issuers buy XRP slowly, on dips
• Accumulate… pic.twitter.com/sWPuaxyphr

— BD (@DiepSanh) November 17, 2025

The post Ripple Price Falls Below $2 on Day #1 of Bitwise XRP ETF appeared first on BeInCrypto.

Bitcoin fell below $87,000 on November 20, 2025, amid a storm of quantum security fears and $1.3 billion whale capitulation. In the process, it blew almost $220 million in long positions out of the water.

This sharp decline extended a two-day pattern of Asian rebounds erased by US market sell-offs. Traders struggled with mixed signals from institutional buyers and a wave of retail panic.

Quantum Computing Panic Triggers Market-Wide Fear

The latest sell-off accelerated after billionaire Ray Dalio raised concerns about Bitcoin’s vulnerability to advances in quantum computing.

His remarks reignited debate in the cryptocurrency community, focusing attention on cryptographic security risks.

“I have a small percentage of Bitcoin I’ve had forever, like 1% of my portfolio. I think the problem with Bitcoin is that it’s not going to be a reserve currency for major countries because it can be tracked, and it could be conceivably controlled, hacked, and so on,” Ray Dalio stated.

However, market analysts pushed back on the quantum panic narrative. Mel Mattison, a financial analyst, argued that these fears are overblown and overlook Bitcoin’s strong cryptography in comparison to traditional banks.

“If people are selling BTC on quantum decryption, they should be selling the hell out of every bank on the planet. JPM should be down 20%. Every account will be hackable. BTC is SHA-256, which is tougher than RSA,” Mel Mattison countered.

This debate reflects a significant divide in how investors assess long-term tech risks. While Dalio highlighted theoretical vulnerabilities as quantum computing develops, critics point out that Bitcoin’s SHA-256 provides stronger security than the RSA standard used by most banks.

If quantum computers pose a threat to Bitcoin, global banking may face even greater risks.

Early Bitcoin Adopter Exits With $1.3 Billion Sale

Adding to quantum security worries, blockchain analytics firm Arkham reported a massive capitulation. Owen Gunden, an early Bitcoin adopter who accumulated holdings since 2011, sold his entire 11,000 BTC for about $1.3 billion.

OWEN GUNDEN HAS NOW SOLD ALL OF HIS $1.3 BILLION BITCOIN

Owen Gunden was an OG Bitcoin whale who held BTC since 2011. Since late October he has sold 11K BTC worth $1.3 billion.

He has just transferred $230M of BTC to Kraken, marking his final sale. pic.twitter.com/m0gQWCHrxZ

— Arkham (@arkham) November 20, 2025

Gunden’s exit came at a precarious time for sentiment. According to data from BeInCrypto, Bitcoin was trading at $86,767 at the latest update, down 2.55% over 24 hours.

This whale’s decision to sell after 14 years highlights a shift from the usual long-term holding mentality. The reasons are unclear, whether profit-taking, rebalancing, or concerns about Bitcoin’s outlook.

Still, the sale injected extra supply into an oversold market and deepened the price slide.

Massive Liquidation Cascade Accelerates Decline

Quantum fears and whale selling sparked a large liquidation cascade across exchanges. CoinGlass data shows over $910 million in crypto positions were liquidated in 24 hours, forcing out 222,008 traders.

During one hour in early US trading, long liquidations spiked to $264.79 million while shorts hit $256.44 million.

These forced closures highlight the significant leverage in crypto markets and how quickly positions can unwind during sharp market moves.

This cascade revealed structural weaknesses in crypto derivatives as well. As Bitcoin dropped from above $91,000 to $86,000 in 48 hours, leveraged traders faced margin calls and had their positions automatically closed.

This automated selling created further price declines and additional liquidations, fueling a cycle of volatility.

Institutional Buyers Return Despite Retail Panic

Despite the sell-off, US Bitcoin ETFs (exchange-traded funds) saw $75 million in net inflows on Wedneday, ending a five-day outflow streak.

BlackRock’s IBIT and Grayscale’s mini ETF accounted for all the inflows, showing that some institutional investors viewed the dip as a buying opportunity.

Yet, sentiment among ETF issuers remained mixed. VanEck, Fidelity, and other large issuers reported flat or negative flows, indicating cautious optimism.

This split highlights the mixed outlook in Bitcoin markets. Some institutions view the current levels as valuable, while others hesitate due to near-term uncertainties.

buy the dip

— Hoss (@hoss_crypto) November 20, 2025

The collision of whale sales, quantum security concerns, and institutional buying has driven sharp volatility. Investors now face the question of whether the quantum narrative signals real risk or simply profit-taking after Bitcoin’s rally this year.

The next days will show whether institutional support can hold prices steady or if more declines lie ahead as the market processes these risks and the influx of long-term holder supply.

The post Whale Dump Meets Quantum Panic: Bitcoin Slips to $86,000 and Blows $220 Million Longs appeared first on BeInCrypto.

Rep. Warren Davidson has introduced the Bitcoin for America Act, aiming to permit federal tax payments in Bitcoin. Collected funds would build a new Strategic Bitcoin Reserve, which Davidson claims will boost US financial stability and leadership in digital assets.

The proposal follows President Trump’s March 2025 executive order creating a Strategic Bitcoin Reserve, signaling greater congressional interest in formalizing Bitcoin’s role in the federal financial system.

Bill Emphasizes Bitcoin, Sparking Debate Over Market Neutrality

The Bitcoin for America Act stands out for its exclusive focus on Bitcoin, in contrast to more comprehensive frameworks, such as the Digital Asset Market Clarity Act.

Davidson’s bill would let taxpayers pay federal taxes in Bitcoin, channeling those payments directly into a Strategic Bitcoin Reserve. This reserve aims to diversify government holdings beyond traditional assets.

I’m introducing the Bitcoin for America Act to strengthen long-term national financial resilience and position the U.S. at the forefront of global asset leadership!

This marks an important step forward in embracing the innovation that millions of Americans use every day. pic.twitter.com/2JSlaJSVkc

— Rep. Warren Davidson (@Rep_Davidson) November 20, 2025

Davidson highlights Bitcoin’s fixed supply of 21 million coins as a defense against inflation and volatility. He says the reserve could reduce reliance on debt-financed spending and protect the US from currency devaluation/

According to the Ohio representative, this would give the country an edge over global competitors such as China and Russia, which have developed their own digital asset strategies.

The Bitcoin for America Act will position our country to lead—not follow—as the world navigates the future of sound money and digital innovation.

Read more about my Bitcoin for America Act below!https://t.co/1DqIkbStoG

— Rep. Warren Davidson (@Rep_Davidson) November 20, 2025

However, this Bitcoin-specific approach has sparked criticism. Singling out one cryptocurrency may risk distorting competition and impeding growth in the digital asset space. Critics warn that focusing solely on Bitcoin might limit broader innovation in the digital asset market.

“Why only Bitcoin? This is classic politicians trying to pick winners and losers. We’ve seen enough of this market rigging,” one user challenged.

The plan also introduces practical challenges. The IRS currently treats digital assets as property, requiring taxpayers to report any income from their activities.

Recent IRS guidance has clarified that all income from digital assets must be reported. Accepting Bitcoin for taxes would mean new systems for valuation, conversion, and custody, issues Davidson’s release does not address.

Building on an Executive Foundation

Davidson’s bill extends President Trump’s March 2025 executive order, which created the Strategic Bitcoin Reserve and US Digital Asset Stockpile.

The executive order tasked the Treasury Department with overseeing custodial accounts for Bitcoin and digital assets seized in federal cases, instructing officials to retain these assets rather than sell.

The Bitcoin for America Act would introduce a separate acquisition route by accepting voluntary tax payments in Bitcoin. Davidson promotes this as widening taxpayer choice and letting the government hold an appreciating asset.

He presents the reserve as a safeguard against inflation, arguing that Bitcoin’s built-in scarcity makes it advantageous compared to fiat currencies.

Davidson also points to increased financial inclusion. About 5.9 million US households do not use traditional banks, according to the Federal Deposit Insurance Corporation. Crypto advocates argue that digital wallets can serve these individuals, although critics contend that price fluctuations and technical barriers remain obstacles to everyday use.

Legislative Push Reflects Policy Tensions

Davidson introduced the bill in coordination with the Bitcoin Policy Institute, a nonprofit organization that supports Bitcoin adoption.

Davidson represents Ohio’s 8th District, known for its crypto-friendly policy stance. His bill differs from the bipartisan BITCOIN Act of 2025, which outlined strategic reserve management but did not include tax payment paths.

This latest debate reveals underlying questions about the government’s role in shaping digital technology markets.

Supporters say federal adoption confirms Bitcoin’s legitimacy and strengthens the country’s leadership in digital finance. Detractors argue that the government should maintain neutrality, supporting open competition rather than backing single technologies. Whether Congress should favor one cryptocurrency will be a central issue in policy discussions going forward.

As the Bitcoin for America Act moves through Congress, lawmakers will weigh a focused Bitcoin strategy against broader integration of digital assets. Their response could shape U cryptocurrency policy and the future of blockchain innovation nationwide.

The post Is Congress Codifying BTC Maximalism into Law with the Bitcoin for America Act? appeared first on BeInCrypto.

The UK’s Serious Fraud Office (SFO) made its first major arrests in a cryptocurrency case, detaining two men in London and Bradford over an alleged $28 million fraud linked to the collapse of the Basis Markets scheme.

The November 20, 2025, operation marks a pivotal shift in UK crypto enforcement. Authorities are expanding efforts to counter sophisticated digital asset crime.

UK SFO Launches Landmark Crypto Investigation

The Serious Fraud Office announced the arrests of one man in his thirties in Herne Hill, London, and another in his forties near Bradford. Raids, conducted in collaboration with the Metropolitan and West Yorkshire Police, focused on fraud and money laundering linked to the Basis Markets scheme.

This investigation is the SFO’s first significant step into crypto crime, reflecting its growing strategy against digital asset fraud. The joint operation highlights the unique challenges of prosecuting cases that involve blockchain technology and NFTs.

SFO Director Nick Ephgrave confirmed the agency has developed specialized resources targeting cryptocurrency fraud. With digital asset schemes increasing, these capabilities are seen as critical for investor protection.

Solicitor General Ellie Reeves stated that such fraudulent activity poses a serious threat to the UK economy. She pledged government backing for enforcement, warning that crypto fraud erodes trust in the financial sector.

The SFO called for victims and whistleblowers to contact [email protected]. This public appeal suggests authorities anticipate more victims and that the case could set important legal precedents.

The Rise and Collapse of Basis Markets

Basis Markets raised $28 million through two public NFT-based fundraisers in late 2021, capitalizing on the surge in NFT market activity that year. The first, in November 2021, focused on NFT sales, promising investors a stake in a new crypto investment vehicle.

The second offering came in December 2021, with funds intended to create a “crypto hedge fund” that employs advanced trading strategies. Investor momentum was high, as NFT sales and enthusiasm for crypto projects peaked during this period.

However, in June 2022, the project abruptly halted. Organizers cited “proposed US regulations” as the reason for its suspension just as US agencies were rolling out broader scrutiny of NFT and crypto fundraising practices.

This collapse left investors unable to access the $28 million raised. The project’s timing, coinciding with broader crypto market downturns in 2022, raised concerns that regulatory changes may not fully explain the failure.

NFT-based fundraising became a common approach in 2021, with projects leveraging digital collectibles to attract capital.

US Treasury research shows that about 65% of NFT fraud cases involve misleading marketing. This significant rate of fraud underlines the regulatory and enforcement challenges facing authorities.

Implications for UK Crypto Enforcement

The Basis Markets probe comes as the UK intensifies efforts against digital asset-related crime. The Crown Prosecution Service’s Economic Crime Strategy 2025, published in May 2025, identified cryptocurrency and cyber-enabled fraud as high-priority threats that require multi-agency coordination.

Authorities have appointed operational leads for cryptoasset recovery and created frameworks to boost cooperation between the CPS, SFO, and law enforcement.

These reforms show a recognition that new tools and strategies are needed to address blockchain-based financial crime.

The SFO’s move to prosecute crypto-related cases aligns with a global trend of increased enforcement against digital asset fraud.

Worldwide, regulators are scrutinizing fundraising methods that blur lines between securities, collectibles, and investments. The Basis Markets case could help define how UK courts approach crypto fraud charges going forward.

Social media reaction highlights investor attention to enforcement. Bitcoin Archive highlighted the significance of the SFO’s pursuit of large-scale crypto prosecutions with this investigation.

JUST IN: 🇬🇧 UK begins large crypto prosecutions with first major investigation, arresting two men over $28 million Basis Markets NFT sale: Press release. pic.twitter.com/UerYhrtH8k

— Coin Headlines (@coinheadline) November 20, 2025

This case signals greater regulatory risk for digital asset fundraisers that lack legal clarity. The SFO’s willingness to pursue complicated crypto cases sends a message that regulatory uncertainty will not protect those accused of fraud.

The outcome of this prosecution could shape how aggressively the UK approaches future crypto crime as the sector evolves.

The post UK Makes First Major Crypto Arrests in $28 Million Basis Markets Scandal appeared first on BeInCrypto.

Harga XRP turun di bawah level psikologis US$2,00, mengunjungi kembali level yang terakhir kali terlihat saat crash pada 10 Oktober.

Bitcoin turun di bawah US$87.000 pada 20 November 2025, di tengah badai kekhawatiran keamanan kuantum dan kapitulasi whale senilai US$1,3 miliar. Dalam prosesnya, hampir US$220 juta dari posisi long hancur.

Penurunan tajam ini memperpanjang pola dua hari dari lonjakan di Asia yang terhapus oleh penjualan di pasar AS. Para trader kesulitan dengan sinyal campuran dari pembeli institusi dan gelombang kepanikan ritel.

Panik Komputasi Kuantum Picu Ketakutan Pasar Secara Keseluruhan

Penjualan terbaru dipercepat setelah miliarder Ray Dalio mengungkapkan kekhawatirannya tentang kerentanan Bitcoin terhadap kemajuan komputasi kuantum.

Pernyataan tersebut menyalakan kembali perdebatan di komunitas kripto dan memusatkan perhatian pada risiko keamanan kriptografi.

“Saya memiliki sejumlah kecil Bitcoin yang sudah saya miliki sejak lama, sekitar 1% dari portofolio saya. Saya pikir masalah dengan Bitcoin adalah bahwa itu tidak akan menjadi mata uang cadangan untuk negara-negara besar karena dapat dilacak, dan dapat dikendalikan, diretas, dan sebagainya,” ujar Ray Dalio menyatakan.

Namun, analis pasar menolak narasi panik kuantum ini. Mel Mattison, seorang analis keuangan, berpendapat bahwa ketakutan ini terlalu berlebihan dan mengabaikan kriptografi kuat milik Bitcoin dibandingkan dengan bank tradisional.

“Jika orang menjual BTC karena dekripsi kuantum, mereka seharusnya menjual habis semua bank di planet ini. JPM seharusnya turun 20%. Semua akun akan bisa diretas. BTC adalah SHA-256, yang lebih tangguh daripada RSA,” respon Mel Mattison menentang.

Perdebatan ini mencerminkan perbedaan signifikan dalam cara investor menilai risiko teknologi jangka panjang. Sementara Dalio menyoroti kerentanan teoretis seiring perkembangan komputasi kuantum, kritik menyatakan bahwa SHA-256 Bitcoin memberikan keamanan lebih kuat dibandingkan standar RSA yang digunakan oleh sebagian besar bank.

Jika komputer kuantum menimbulkan ancaman bagi Bitcoin, perbankan global mungkin menghadapi risiko yang lebih besar lagi.

Pengadopsi Awal Bitcoin Keluar Dengan Penjualan Senilai US$1,3 Miliar

Menambah kekhawatiran keamanan kuantum, firma analitik blockchain Arkham melaporkan kapitulasi besar-besaran. Owen Gunden, seorang pengadopsi awal Bitcoin yang mengumpulkan kepemilikannya sejak 2011, menjual seluruh 11.000 BTC miliknya senilai sekitar US$1,3 miliar.

OWEN GUNDEN HAS NOW SOLD ALL OF HIS $1.3 BILLION BITCOIN

Owen Gunden was an OG Bitcoin whale who held BTC since 2011. Since late October he has sold 11K BTC worth $1.3 billion.

He has just transferred $230M of BTC to Kraken, marking his final sale. pic.twitter.com/m0gQWCHrxZ

— Arkham (@arkham) November 20, 2025

Keputusan Gunden untuk keluar terjadi pada saat yang genting untuk sentimen. Menurut data dari BeInCrypto, Bitcoin diperdagangkan pada US$86.767 pada update terbaru, turun 2,55% selama 24 jam.

Keputusan whale ini untuk menjual setelah 14 tahun menyoroti pergeseran dari kebiasaan memegang jangka panjang. Alasan di baliknya tidak jelas, apakah karena untuk mengambil keuntungan, penyeimbangan kembali, atau kekhawatiran tentang prospek Bitcoin.

Namun, penjualan tersebut menambah pasokan ekstra ke pasar yang sudah oversold dan memperdalam penurunan harga.

Kaskade Likuidasi Massif Mempercepat Penurunan

Ketakutan kuantum dan penjualan whale memicu gelombang likuidasi besar di seluruh exchange. Data dari CoinGlass menunjukkan lebih dari US$910 juta posisi kripto terlikuidasi dalam 24 jam, mengusir 222.008 trader.

Selama satu jam di awal perdagangan AS, likuidasi long melonjak menjadi US$264,79 juta sementara short mencapai US$256,44 juta.

Penutupan paksa ini menyoroti leverage yang signifikan di pasar kripto dan bagaimana cepat posisi dapat berbalik selama pergerakan pasar yang tajam.

Gelombang ini juga mengungkapkan kelemahan struktural dalam derivatif kripto. Saat Bitcoin turun dari lebih dari US$91.000 menjadi US$86.000 dalam 48 jam, trader leverage menghadapi panggilan margin dan posisi mereka ditutup secara otomatis.

Penjualan otomatis ini menciptakan penurunan harga lebih lanjut dan likuidasi tambahan, memicu siklus volatilitas.

Pembeli Institusional Kembali Meski Kepanikan Ritel

Meski terjadi penjualan, ETF (exchange-traded fund) Bitcoin AS mencatat net inflow sebesar US$75 juta pada hari Rabu, mengakhiri rentetan outflow selama lima hari.

IBIT milik BlackRock dan mini ETF milik Grayscale berkontribusi pada seluruh aliran masuk tersebut, menunjukkan bahwa beberapa investor institusi melihat penurunan ini sebagai kesempatan untuk membeli.

Namun, sentimen di antara penerbit ETF tetap beragam. VanEck, Fidelity, dan penerbit besar lainnya melaporkan arus datar atau negatif, menunjukkan optimisme hati-hati.

Perpecahan ini menyoroti pandangan yang beragam di pasar Bitcoin. Beberapa institusi melihat level saat ini bernilai, sementara yang lain ragu-ragu karena ketidakpastian jangka pendek.

buy the dip

— Hoss (@hoss_crypto) November 20, 2025

Tabrakan antara penjualan whale, kekhawatiran keamanan kuantum, dan pembelian institusional telah mendorong volatilitas tajam. Investor kini menghadapi pertanyaan apakah narasi kuantum menunjukkan risiko nyata atau sekadar pengambilan untung setelah reli Bitcoin tahun ini.

Hari-hari berikutnya akan menunjukkan apakah dukungan institusional dapat menjaga harga tetap stabil atau jika penurunan lebih lanjut akan terjadi saat pasar memproses risiko ini dan masuknya pasokan holder jangka panjang.

Rep. Warren Davidson telah memperkenalkan Bitcoin for America Act, bertujuan untuk mengizinkan pembayaran pajak federal dengan Bitcoin. Dana yang terkumpul akan membangun Strategic Bitcoin Reserve baru, yang Davidson klaim akan meningkatkan stabilitas keuangan AS dan kepemimpinan dalam aset digital.

Usulan ini mengikuti perintah eksekutif Presiden Trump pada Maret 2025 yang menciptakan Strategic Bitcoin Reserve, menandakan minat kongres yang lebih besar dalam memformalkan peran Bitcoin dalam sistem keuangan federal.

Bill Menekankan Bitcoin, Picu Perdebatan Tentang Netralitas Pasar

Bitcoin for America Act menonjol karena fokus eksklusifnya pada Bitcoin, berbeda dengan kerangka kerja yang lebih komprehensif, seperti Digital Asset Market Clarity Act.

RUU Davidson akan membiarkan wajib pajak membayar pajak federal dengan Bitcoin, mengarahkan pembayaran tersebut langsung ke Strategic Bitcoin Reserve. Cadangan ini bertujuan untuk mendiversifikasi kepemilikan pemerintah melampaui aset tradisional.

I’m introducing the Bitcoin for America Act to strengthen long-term national financial resilience and position the U.S. at the forefront of global asset leadership!

This marks an important step forward in embracing the innovation that millions of Americans use every day. pic.twitter.com/2JSlaJSVkc

— Rep. Warren Davidson (@Rep_Davidson) November 20, 2025

Davidson menyoroti pasokan tetap Bitcoin sebesar 21 juta koin sebagai pertahanan terhadap inflasi dan volatilitas. Dia mengatakan cadangan ini dapat mengurangi ketergantungan pada pembiayaan dengan utang dan melindungi AS dari devaluasi mata uang.

Menurut perwakilan dari Ohio, ini akan memberikan keunggulan bagi negara tersebut atas pesaing global seperti Cina dan Rusia, yang telah mengembangkan strategi aset digital mereka sendiri.

The Bitcoin for America Act will position our country to lead—not follow—as the world navigates the future of sound money and digital innovation.

Read more about my Bitcoin for America Act below!https://t.co/1DqIkbStoG

— Rep. Warren Davidson (@Rep_Davidson) November 20, 2025

Namun, pendekatan khusus Bitcoin ini telah memicu kritik. Memilih satu mata uang kripto dapat berisiko mengganggu persaingan dan menghambat pertumbuhan di ruang aset digital. Para kritikus memperingatkan bahwa berfokus hanya pada Bitcoin mungkin membatasi inovasi yang lebih luas di pasar aset digital.

“Mengapa hanya Bitcoin? Ini adalah politisi klasik yang mencoba memilih pemenang dan pecundang. Kami sudah cukup melihat manipulasi pasar ini,” tantang seorang pengguna .

Rencana ini juga memperkenalkan tantangan praktis. IRS saat ini memandang aset digital sebagai properti, yang mengharuskan wajib pajak untuk melaporkan pendapatan dari aktivitas mereka.

Panduan IRS baru-baru ini telah memperjelas bahwa semua pendapatan dari aset digital harus dilaporkan. Menerima Bitcoin untuk pajak berarti sistem baru untuk penilaian, konversi, dan penyimpanan, yang masalah-masalah ini tidak diatasi dalam rilis Davidson.

Membangun di atas Executive Foundation

RUU Davidson memperpanjang perintah eksekutif Maret 2025 Presiden Trump, yang menciptakan Strategic Bitcoin Reserve dan US Digital Asset Stockpile.

Perintah eksekutif tersebut menugaskan kepada Departemen Keuangan untuk mengawasi akun kustodian untuk Bitcoin dan aset digital yang disita dalam kasus federal, dan mengarahkan pejabat untuk mempertahankan aset-aset ini daripada menjualnya.

Bitcoin for America Act akan memperkenalkan jalur akuisisi terpisah dengan menerima pembayaran pajak secara sukarela dalam Bitcoin. Davidson mempromosikan ini sebagai memperluas pilihan wajib pajak dan memungkinkan pemerintah memegang aset yang nilainya meningkat.

Dia mengajukan cadangan ini sebagai perlindungan terhadap inflasi, berargumen bahwa kelangkaan bawaan Bitcoin membuatnya lebih menguntungkan dibandingkan mata uang fiat.

Davidson juga menunjukkan inklusi keuangan yang meningkat. Sekitar 5,9 juta rumah tangga AS tidak menggunakan bank tradisional, menurut Federal Deposit Insurance Corporation. Para pendukung kripto berpendapat bahwa dompet digital dapat melayani individu-individu ini, meskipun para kritikus berpendapat bahwa fluktuasi harga dan hambatan teknis tetap menjadi kendala untuk penggunaan sehari-hari.

Dorongan Legislatif Cerminkan Ketegangan Kebijakan

Davidson memperkenalkan RUU ini dalam koordinasi dengan Bitcoin Policy Institute, sebuah organisasi nirlaba yang mendukung adopsi Bitcoin.

Davidson mewakili Distrik 8 Ohio, yang dikenal dengan kebijakan yang ramah kripto. RUU-nya berbeda dari BITCOIN Act 2025 yang bipartisan, yang merinci manajemen cadangan strategis tetapi tidak menyertakan jalur pembayaran pajak.

Perdebatan terbaru ini mengungkapkan pertanyaan mendasar tentang peran pemerintah dalam membentuk pasar teknologi digital.

Pendukung mengatakan bahwa adopsi federal menegaskan legitimasi Bitcoin dan memperkuat kepemimpinan negara dalam digital finance. Pihak yang berseberangan berpendapat bahwa pemerintah seharusnya menjaga netralitas, mendukung persaingan terbuka daripada mendukung satu teknologi. Apakah Kongres harus mendukung satu mata uang kripto akan menjadi isu sentral dalam diskusi kebijakan ke depan.

Seiring Bitcoin for America Act bergerak melalui Kongres, para legislator akan menimbang strategi Bitcoin yang fokus dibandingkan dengan integrasi yang lebih luas dari aset digital. Respons mereka dapat membentuk kebijakan kripto AS dan masa depan inovasi blockchain di seluruh negeri.

Kantor Penipuan Serius Inggris (SFO) membuat penangkapan besar pertamanya dalam kasus cryptocurrency, menahan dua pria di London dan Bradford atas dugaan penipuan senilai US$28 juta yang terkait dengan runtuhnya skema Basis Markets.

Operasi pada 20 November 2025 ini menandai perubahan penting dalam penegakan kripto di Inggris. Otoritas memperluas upaya untuk melawan kejahatan aset digital yang canggih.

UK SFO Luncurkan Investigasi Crypto Bersejarah

Kantor Penipuan Serius mengumumkan penangkapan seorang pria berusia tiga puluhan di Herne Hill, London, dan lainnya di usia empat puluhan dekat Bradford. Penggerebekan, yang dilakukan bekerja sama dengan Metropolitan dan Kepolisian West Yorkshire, fokus pada penipuan dan pencucian uang yang terkait dengan skema Basis Markets.

Penyelidikan ini merupakan langkah signifikan pertama SFO ke dalam kejahatan kripto, mencerminkan strategi yang berkembang melawan penipuan aset digital. Operasi gabungan ini menyoroti tantangan unik dalam menuntut kasus yang melibatkan teknologi blockchain dan NFT.

Direktur SFO Nick Ephgrave mengonfirmasi bahwa agen tersebut telah mengembangkan sumber daya khusus untuk menargetkan penipuan cryptocurrency. Dengan skema aset digital yang semakin meningkat, kapabilitas ini dipandang sebagai hal yang krusial untuk melindungi investor.

Pengacara Jenderal Ellie Reeves menyatakan bahwa aktivitas penipuan semacam ini menimbulkan ancaman serius terhadap ekonomi Inggris. Ia berjanji akan mendukung penegakan hukum, memperingatkan bahwa penipuan kripto merusak kepercayaan pada sektor keuangan.

SFO memanggil korban dan pelapor untuk menghubungi [email protected]. Permohonan publik ini menunjukkan bahwa otoritas memperkirakan adanya lebih banyak korban dan kasus ini dapat menetapkan preseden hukum penting.

Kenaikan dan Kejatuhan Basis Markets

Basis Markets mengumpulkan US$28 juta melalui dua penggalangan dana berbasis NFT publik pada akhir 2021, memanfaatkan lonjakan aktivitas pasar NFT tahun tersebut. Yang pertama, pada November 2021, berfokus pada penjualan NFT, menjanjikan investor bagian dalam kendaraan investasi kripto baru.

Penawaran kedua datang pada Desember 2021, dengan dana yang dimaksudkan untuk membuat “hedge fund kripto” yang menggunakan strategi perdagangan canggih. Momentum investor tinggi, karena penjualan NFT dan antusiasme untuk proyek kripto memuncak selama periode ini.

Namun, pada Juni 2022, proyek ini tiba-tiba dihentikan. Penyelenggara mengutip “peraturan AS yang diusulkan” sebagai alasan untuk penangguhannya, tepat ketika lembaga-lembaga AS memperluas pengawasan terhadap praktik penggalangan dana NFT dan kripto.

Keadaan ini membuat investor tidak dapat mengakses US$28 juta yang terkumpul. Waktunya yang bersamaan dengan penurunan pasar kripto yang lebih luas pada 2022, menimbulkan kekhawatiran bahwa perubahan regulasi mungkin bukan alasan sepenuhnya untuk kegagalan tersebut.

Penggalangan dana berbasis NFT menjadi pendekatan umum pada 2021, dengan proyek memanfaatkan koleksi digital untuk menarik modal.

Penelitian Departemen Keuangan AS menunjukkan bahwa sekitar 65% dari kasus penipuan NFT melibatkan pemasaran yang menyesatkan. Tingkat penipuan yang signifikan ini menyoroti tantangan regulasi dan penegakan hukum yang dihadapi otoritas.

Implikasi untuk Penegakan Kripto di UK

Penyelidikan Basis Markets muncul saat Inggris memperkuat upayanya melawan kejahatan terkait aset digital. Strategi Kejahatan Ekonomi 2025 dari Layanan Penuntutan Mahkota yang diterbitkan pada Mei 2025, mengidentifikasi penipuan cryptocurrency dan cyber-enabled sebagai ancaman prioritas tinggi yang memerlukan koordinasi multi-agency.

Otoritas telah menunjuk pemimpin operasional untuk pemulihan aset kripto dan menciptakan kerangka kerja untuk memperkuat kerja sama antara CPS, SFO, dan penegak hukum.

Reformasi ini menunjukkan pengakuan bahwa alat dan strategi baru diperlukan untuk menangani kejahatan keuangan berbasis blockchain.

Langkah SFO untuk menuntut kasus terkait kripto sejalan dengan tren global peningkatan penegakan terhadap penipuan aset digital.

Secara global, regulator mengamati metode penggalangan dana yang memblur batasan antara sekuritas, koleksi, dan investasi. Kasus Basis Markets dapat membantu mendefinisikan bagaimana pengadilan Inggris mendekati tuduhan penipuan kripto ke depan.

Reaksi media sosial menyoroti perhatian investor terhadap penegakan hukum. Arsip Bitcoin menyoroti pentingnya pengejaran SFO terhadap penuntutan besar-besaran kripto dengan investigasi ini.

JUST IN: 🇬🇧 UK begins large crypto prosecutions with first major investigation, arresting two men over $28 million Basis Markets NFT sale: Press release. pic.twitter.com/UerYhrtH8k

— Coin Headlines (@coinheadline) November 20, 2025

Kasus ini menandakan risiko regulasi yang lebih besar untuk penggalangan dana aset digital yang kurang memiliki kejelasan hukum. Kesiapan SFO untuk mengejar kasus kripto yang rumit mengirimkan pesan bahwa ketidakpastian regulasi tidak akan melindungi mereka yang dituduh melakukan penipuan.

Hasil dari penuntutan ini dapat membentuk seberapa agresif Inggris mendekati kejahatan kripto di masa depan seiring perkembangan sektor ini.

Polymarket sedang mencari modal baru pada valuasi US$12 miliar, menurut Bloomberg. Ini menandai peningkatan 20% dari putaran sebelumnya sebesar US$10 miliar dan memicu spekulasi bahwa platform pasar prediksi ini bisa mengikuti langkah Kraken menuju IPO di AS.

Waktunya sejalan dengan langkah terkini Kraken. Exchange ini menutup pendanaan senilai US$800 juta sebelum secara rahasia mengajukan IPO pada 19 November.

Apakah Blueprint IPO Kraken Menjadi Acuan untuk Listing Publik Polymarket?

Pada 19 November, Kraken mengajukan draf Form S-1 ke Komisi Sekuritas dan Bursa AS. Langkah ini secara resmi memulai proses IPO. Jumlah saham dan harga masih belum ditentukan karena sedang dalam tinjauan SEC dan kondisi pasar.

Dengan mengejar pasar publik, Kraken memperoleh pendanaan US$800 juta dengan valuasi US$20 miliar pada 18 November. Pendanaan ini melampaui rencana awal sebesar US$500 juta, yang diumumkan pada valuasi US$15 miliar di bulan Juli.

Beberapa jam sebelum berita IPO, co-CEO Kraken Arjun Sethi menggambarkan pendanaan ini sebagai pencapaian penting dan memuji prestasi tim.

We just announced that @krakenfx has raised $800M, a milestone that reflects years of work, discipline, and conviction. I am proud of what our team has built and grateful for the partners who chose to join us. But this is not a post about a fundraise. I want to share the side of…

— Arjun Sethi (@arjunsethi) November 18, 2025

Circle juga mengikuti pendekatan penggalangan modal yang sama, dengan penerbit USDC menetapkan target awal penggalangan US$624 juta dengan harga per saham US$24 hingga US$26. Ini menjadi pendahulu pengajuan IPO pada bulan April, menyoroti tren umum di antara perusahaan yang ingin go public di AS.

Apakah Polymarket Berencana Melakukan Public Listing?

Upaya Polymarket untuk mengumpulkan dana pada valuasi US$12 miliar menunjukkan peningkatan signifikan setelah beberapa bulan pertumbuhan pesat.

[ ZOOMER ]

POLYMARKET LOOKING TO RAISE ADDITIONAL FUNDS AT A $12B VALUATION, UP FROM PREVIOUS $10B ROUND: BBG

— zoomer (@zoomerfied) November 20, 2025

Platform ini sekarang memiliki lebih dari 1,3 juta trader dan telah memproses volume perdagangan sebesar US$18,1 miliar. Pengguna aktif harian meningkat dari 20.000 menjadi hampir 58.000, didorong sebagian oleh spekulasi tentang kemungkinan token POLY.

Dukungan dari pemain institusional sangat penting. Platform ini mendapatkan dukungan US$2 miliar dari Intercontinental Exchange, induk dari New York Stock Exchange, sebuah tonggak validasi institusional. CMO Matthew Modabber mengkonfirmasi rencana untuk token asli POLY dan airdrop, yang menjawab rumor pasar berbulan-bulan.

Pada 13 November, pendiri Polymarket Shayne Coplan membunyikan bel pembukaan di New York Stock Exchange bersama CEO ICE Jeffrey Sprecher.

Polymarket 🤝 @ufc @TKOGrp

The UFC has chosen to partner with Polymarket as its Exclusive and Official Prediction Market.

The UFC will be integrating a Polymarket Scoreboard into the fights that will show the realtime % likelihood of who will win.

When I watch UFC, I love… pic.twitter.com/Jj8bOi5k3A

— Shayne Coplan 🦅 (@shayne_coplan) November 13, 2025

Momen ini melambangkan masuknya Polymarket ke dalam keuangan arus utama. Ini bertepatan dengan pengumuman kemitraan eksklusif multi-tahun dengan TKO Group Holdings, menjadikan Polymarket sebagai pasar prediksi resmi untuk UFC dan Zuffa Boxing.

Polymarket juga berencana meluncurkan platform perdagangan profesional pada akhir tahun. Tier Pro ini akan menawarkan analitik lanjutan, alat eksekusi, dan feed data, melayani trader institusi dan peserta canggih. Ini akan melengkapi antarmuka platform ritel yang ada.

BREAKING: Polymarket is developing a pro version targeted at professional traders.

According to one of the developers @mustafaaljadery, the launch is planned by the end of this year.https://t.co/2LVJxPUrrG pic.twitter.com/KIm3VQo5nr

— tsybka (@tsybka) October 18, 2025

Baru-baru ini, Polymarket melanjutkan operasi di AS, menambah keyakinan pada dugaan listing publik. Dukungan institusional dari ICE, kemitraan olahraga, dan peningkatan valuasi menempatkan platform ini untuk potensi partisipasi pasar publik.

Ini mencerminkan banyak langkah yang diambil Kraken sebelum IPO, mengisyaratkan kemungkinan strategi Polymarket untuk akses publik ke depannya.

The Federal Reserve’s newly released minutes from the October 28–29 meeting have thrown fresh uncertainty into the December policy outlook, sharpening market volatility across equities, bonds, and Bitcoin.

While the minutes reflect economic data only available at the time of the meeting, the language shift inside the document has become the latest flashpoint for analysts dissecting the Fed’s next move.

Fed Minutes Expose a Narrow Majority Against a December Rate Cut

The Fed described “many” officials as seeing a December rate cut as “likely not appropriate,” while “several” said a cut “could well be appropriate.”

In Fed-watcher parlance, the hierarchy matters. “some” > “several”, and “many” outweighs both. This indicates that a narrow majority opposed cutting rates in December at the time of the meeting.

💥BREAKING:

FOMC MINUTES:

– MANY SAW DECEMBER RATE CUT AS LIKELY NOT APPROPRIATE

– SEVERAL SAID DECEMBER CUT 'COULD WELL BE' APPROPRIATE pic.twitter.com/nAVD0RFUEc

— Crypto Rover (@cryptorover) November 19, 2025

The minutes also indicated emerging stress points in money markets:

• Repo volatility,
• Declining ON RRP usage, and
• Reserves drifting toward scarcity.

This combination historically preceded the end of quantitative tightening (QT). Sentiment, therefore, is that the Fed may be closer than expected to ending balance-sheet runoff.

Ahead of this release, markets had already de-risked, with the Bitcoin price slipping below $89,000 to a 7-month low. The sentiment spread across crypto stocks and TradFi indices.

Macro traders say the real story is the razor-thin nature of the Fed divide. The minutes indicate no firm consensus, suggesting December is shaping up to be one of the tightest policy calls since the Fed began its inflation fight.

Some officials emphasized still-elevated inflation risks; others pointed to cooling labor conditions and fading demand. With both sides arming themselves with recent post-meeting data, including softer CPI, stable jobless claims, and cooling retail activity, December could swing on the next two data prints.

For now, the market is recalibrating to a scenario where liquidity is tightening, policy uncertainty is rising, and Bitcoin sits in a structurally vulnerable zone until buyers regain initiative.

If the Fed chooses to hold in December, markets may need to brace for a longer-than-expected plateau and more volatility ahead.

The post Fed Minutes Reveal December Rate Cut on a Knife’s Edge, Bitcoin Slips Below $89,000 appeared first on BeInCrypto.

In the past 60 minutes, over $112 million longs have been liquidated as traders de-risk in anticipation of the FOMC minutes.

Bitcoin slipped below the $90,000 psychological levels, blowing millions in long positions out of the water.

$115 Million Longs Wiped Out Amid FOMC Minutes Jitters

Data on Coinglass shows that over $112 million in long positions have been liquidated over the past hour. These positions were flushed out as the Bitcoin price dipped below the $90,000 psychological level, testing a seven-month low.

Meanwhile, the drop was not limited to the Bitcoin, as crypto stocks also registered losses, following the pioneer crypto’s fall to a 7-month low.

CRYPTO STOCKS FALL AS BITCOIN NEAR SEVEN-MONTH LOW

🔸 COINBASE GLOBAL DOWN 4.9%
🔸 BITFARMS FALLS 7.5%
🔸 STRATEGY SLIPS 10.3%
🔸 RIOT PLATFORMS FALLS 3.7%
🔸 HUT 8 MINING DOWN 3.3%
🔸 MARA HOLDINGS DROPS 6.6%

— *Walter Bloomberg (@DeItaone) November 19, 2025

It comes ahead of the October FOMC minutes, which is barely an hour out, suggesting investors are de-risking.

Beyond crypto and related stocks, indices were also down, with the Nasdaq and S&P 500 turning negative.

S&P 500 AND NASDAQ TURN NEGATIVE; S&P 500 DOWN 0.2%, NASDAQ DOWN 0.2%

— *Walter Bloomberg (@DeItaone) November 19, 2025

This drop comes barely an hour before the October FOMC minutes release, with sentiment already reflected on social media.

Amid the anticipation, US President Trump said Fed chair Jerome Powell is “grossly incompetent,” citing too high interest rates.

Meanwhile, the Bureau of Labor Statistics has also revealed that it will not publish the October Jobs report. This gap likely steps from the recently concluded US government shutdown, which saw authorities run basically blind.

“After the September jobs report (out Thursday), there won’t be another jobs report until after the Dec. 9-10 FOMC meeting BLS: The October jobs report is cancelled. The November report won’t land until December 16. Sept JOLTS is also cancelled. October JOLTS will be published December 9,” wrote Nick Timiraos.

Based on this gap in the October Jobs report, December Fed rate cut bets have dwindled, with nearly 70% anticipating policymakers will hold interest rates steady.

Some analysts also ascribe the prevailing bearish sentiment to FUD (fear, uncertainty, and doubt), as institutional players signal a lack of conviction for BTC.

This is seen with ETF outflows from the likes of BlackRock, which the asset manager posting record negative flows of on Tuesday.

“BlackRock Dumps Record $523M in Bitcoin as BTC Slips Further in Bear Market. They sold $523M in Bitcoin, the largest single-day outflow IBIT has EVER recorded. Wall Street entered, profited, and exited. Bitcoiners got played hard,” analyst Jacob King remarked.

Even as the Bitcoin price continues to drop, some analysts say the downside potential remains very much alive, potentially as low as $70,000 in the near term, or worse.

Below $98,650, the next key Bitcoin $BTC levels are:

• $75,740
• $56,160
• $52,820 pic.twitter.com/gMmWIUZ0nY

— Ali (@ali_charts) November 17, 2025

As of this writing, the Bitcoin price was trading for $88,977, down by almost 5% in the last 24 hours.

The post Nearly $115 Million Longs Liquidated As Bitcoin Drops to 7-Month Low, $70,000 Incoming? appeared first on BeInCrypto.

Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.

Grab a coffee and settle in. This week, Bitcoin’s movements have traders talking, analysts scratching their heads, and even some familiar voices hinting that not everything is as it seems. Amid dips, recoveries, and cryptic warnings, one question lingers: who—or what—might really be pulling the strings behind the scenes?

Crypto News of the Day: Behind Bitcoin’s Strength—A Cabal? Jim Cramer Thinks So

Jim Cramer has once again sparked a wave of speculation across Crypto Twitter and trading desks, after suggesting that unseen forces may be at work to keep Bitcoin elevated despite mounting macroeconomic pressure.

“Almost feels like a cabal is trying to keep Bitcoin above $90,000. I like Bitcoin, but I do not like any of the derivatives created to play it, game it, or mine it,” he stated.

The remark landed at a sensitive moment for the market. Bitcoin dipped below $90,000 earlier in the week before recovering, prompting traders to dissect Cramer’s choice of words.

His reference to a “cabal,” even if rhetorical, was enough to spark theories ranging from ETF market makers defending key levels to institutional buyers accumulating quietly as liquidity thins.

Cramer doubled down hours later with another pointed message: “Even after all of this destruction, we are not oversold!!!”

To many traders, this sounded less like caution and more like classic Cramer timing, historically notorious for aligning with market inflection points in the opposite direction.

That instantly fed the Inverse Cramer narrative: when Cramer turns bearish or warning-heavy, some traders look for a bottom instead.

BUY everything

— Ali (@ali_charts) November 19, 2025

However, analysts argue that the market’s recent behavior has far more to do with macroeconomic forces than memes.

Macro Forces, Not Memes: What’s Really Driving Bitcoin’s Recent Volatility

According to QCP, Bitcoin’s brief break below the $90,000 threshold reflected the asset’s growing sensitivity to shifts in liquidity and interest-rate expectations.

Firmer rate outlooks, coupled with persistent outflows from Bitcoin ETFs, have weighed on sentiment for weeks. The rapid repricing in Federal Reserve expectations, from an assumed December rate cut to a coin flip has only intensified those pressures.

“Markets have sharply repriced Fed expectations, cutting December rate cut odds from ‘near certain’ to ‘even,’” QCP noted, emphasizing how such macro adjustments disproportionately affect duration-sensitive assets like Bitcoin.

Meanwhile, equities have remained relatively resilient thanks to blockbuster earnings from AI-driven hyperscalers. Big Tech’s strength has left crypto trailing behind, amplifying volatility as liquidity thins.

Now that the US government has reopened and economic data releases are resuming, traders are bracing for a critical week.

Labor-market indicators and the Conference Board’s Leading Economic Index, updated with new vacancy metrics, are expected to shape market expectations as we enter 2026.

These data points will help define whether the Fed leans toward caution on inflation or acknowledges signs of cooling.

Fed Chair Jerome Powell’s recent reminder that a December cut is “not guaranteed” has reinforced the cautious mood.

For Bitcoin, the question is whether recent turbulence represents a standard positioning shakeout or the opening act of broader risk-off dynamics.

Cramer’s “cabal” comment may have dominated the headlines, but the real driver may still be the macro tide, and whether it turns against crypto or slowly back in its favor.

Chart of the Day

Byte-Sized Alpha

Here’s a summary of more US crypto news to follow today:

• Japan’s yield shock threatens global markets — and Bitcoin may be next.
• Andrew Tate becomes “one of the worst traders in crypto” after losing over $800,000.
• Tether dominance hits 6% in November – Why this is a worrying signal.
• LIBRA price pumps 30% as investigators uncover a political bombshell.
• Analysts reveal key support levels for Bitcoin if selling pressure doesn’t ease in November.
• Ethereum drops near $3,000, but on-chain ‘opportunity zone’ hints at rebound.
• Top 3 Price Prediction Bitcoin, Gold, Silver: Bulls come ashore ahead of October FOMC Minutes.
• From 2052 to 2034: Quantum progress accelerates the countdown to Q-Day.

Crypto Equities Pre-Market Overview

Company	At the Close of November 18	Pre-Market Overview
Strategy (MSTR)	$206.80	$205.75 (-0.51%)
Coinbase (COIN)	$261.79	$262.73 (+0.36%)
Galaxy Digital Holdings (GLXY)	$25.58	$25.84 (+1.02%)
MARA Holdings (MARA)	$11.88	$11.99 (+0.93%)
Riot Platforms (RIOT)	$13.94	$14.03 (+0.65%)
Core Scientific (CORZ)	$15.43	$15.80 (+2.40%)

The post Is Bitcoin Being Propped Up? Jim Cramer Stokes Controversy | US Crypto News appeared first on BeInCrypto.

Crypto exchange Kraken has taken a concrete step toward going public by submitting a confidential draft registration statement to the US Securities and Exchange Commission (SEC) in advance of a planned initial public offering (IPO).

It completes Ark Invest’s earlier prediction that US President Trump’s administration would open a gateway for firms like Circle to go public.

Kraken Takes First Step Toward Public Listing

According to an official press release, the San Francisco–based crypto exchange has confidentially submitted a draft registration statement on Form S‑1 with the US SEC for a proposed initial public offering of its common stock.

While the number of shares and pricing have not yet been determined, the IPO is expected to proceed once the SEC completes its review, subject to market conditions.

The move marks a significant step in Kraken’s growth and reflects the increasing intersection of crypto and traditional finance, as investors await further details on the exchange’s public debut.

It comes only months after Circle’s public listing, with the latest development effectively marking the fruiting of Cathie Wood’s Ark Invest’s prediction.

In late 2024, Ark Invest stated that it viewed the then-prospective Trump administration as favorable for crypto, potentially opening up IPO opportunities for firms like Circle and Kraken. As BeInCrypto reported, Ark Invest cited pro-crypto policies and SEC reforms easing regulatory constraints for the sector.

“Among the possibilities are…the re-opening of the initial public offering (IPO) window for late-stage digital asset companies like Circle and Kraken…,” a paragraph in the newsletter read.

Consequently, this establishes a precedent demonstrating that crypto firms can transition to becoming publicly traded companies in the country.

In July, Kraken revealed plans to raise $500 million at a $15 billion valuation in its planned IPO. The plan succeeded in September, with the trading platform expanding into TradFi with xStocks platform and NinjaTrader acquisition. Hours ago, Kraken CEO Arjun Sethi revealed that the exchange had raised $800 million.

Once Kraken officially goes public, its stock, potentially ‘KRAK’ would join Coinbase’s COIN in the open market, which is already listed on stock exchanges.

$KRAK the world 🥷🐙 pic.twitter.com/LWbo2yLWsQ

— Kraken (@krakenfx) May 17, 2025

The post Crypto Giant Kraken Moves Toward Public Listing (IPO) appeared first on BeInCrypto.

Risalah baru yang dirilis oleh Federal Reserve dari pertemuan 28–29 Oktober menambah ketidakpastian baru dalam prospek kebijakan Desember, meningkatkan volatilitas pasar di ekuitas, obligasi, dan Bitcoin.

Meskipun risalah mencerminkan data ekonomi yang hanya tersedia saat pertemuan, perubahan bahasa dalam dokumen tersebut menjadi titik fokus terbaru bagi analis yang mencoba memahami langkah selanjutnya dari The Fed.

Risalah The Fed Ungkap Mayoritas Tipis Menentang Pemangkasan Suku Bunga Desember

The Fed menggambarkan bahwa “banyak” pejabat memandang pemotongan suku bunga Desember sebagai “mungkin tidak sesuai,” sementara “beberapa” mengatakan pemotongan “bisa jadi sesuai.”

Dalam istilah pengamat Fed, hierarki ini penting. “some” > “several”, dan “many” lebih besar dari keduanya. Ini menunjukkan sebagian besar kecil menolak pemotongan suku bunga Desember pada saat pertemuan.

💥BREAKING:

FOMC MINUTES:

– MANY SAW DECEMBER RATE CUT AS LIKELY NOT APPROPRIATE

– SEVERAL SAID DECEMBER CUT 'COULD WELL BE' APPROPRIATE pic.twitter.com/nAVD0RFUEc

— Crypto Rover (@cryptorover) November 19, 2025

Risalah juga menunjukkan munculnya titik stres di pasar uang:

• Volatilitas repo,
• Penurunan penggunaan ON RRP, dan
• Cadangan cenderung menuju kelangkaan.

Kombinasi ini secara historis mendahului akhir dari pengetatan kuantitatif (QT). Oleh karena itu, sentimen menunjukkan bahwa The Fed mungkin lebih dekat dari yang diharapkan untuk menghentikan pengurangan neraca.

Sebelum risalah ini dirilis, pasar sudah melakukan de-risking, dengan harga Bitcoin turun di bawah US$89.000 ke level terendah dalam tujuh bulan. Sentimen ini menyebar di saham kripto dan indeks TradFi.

Trader makro mengatakan cerita sebenarnya adalah tipisnya perpecahan di dalam The Fed. Risalah ini menunjukkan tidak ada konsensus yang kuat, mengindikasikan Desember akan menjadi salah satu keputusan kebijakan tersulit sejak The Fed memulai perjuangannya melawan inflasi.

Beberapa pejabat menekankan risiko inflasi yang masih tinggi; yang lain menunjuk pada kondisi tenaga kerja yang mendingin dan permintaan yang menurun. Dengan kedua pihak mempersenjatai diri dengan data terbaru setelah pertemuan, termasuk CPI yang lebih lembut, klaim pengangguran yang stabil, dan aktivitas ritel yang menurun, Desember bisa berubah berdasarkan dua cetakan data berikutnya.

Untuk saat ini, pasar mengkalibrasi ulang ke skenario di mana likuiditas semakin ketat, ketidakpastian kebijakan meningkat, dan Bitcoin berada di zona yang rentan secara struktural sampai pembeli kembali mengambil inisiatif.

Jika The Fed memilih untuk menahan pada bulan Desember, pasar mungkin perlu bersiap menghadapi dataran tinggi yang lebih lama dari yang diharapkan dan lebih banyak volatilitas di masa depan.

Dalam 60 menit terakhir, lebih dari US$112 juta panjang telah terlikuidasi karena trader mengurangi risiko menjelang rapat FOMC.

Bitcoin turun di bawah level psikologis US$90.000, menghapus jutaan posisi panjang.

US$115 Juta Longs Hangus Di Tengah Ketegangan Notulen FOMC

Data dari Coinglass menunjukkan bahwa lebih dari US$112 juta dalam posisi panjang telah terlikuidasi dalam satu jam terakhir. Itu mengikuti pergerakan harga Bitcoin, yang turun di bawah level psikologis US$90.000 seiring dengan hitungan mundur menuju rapat FOMC Oktober yang berlanjut.

Selamat datang di US Crypto News Morning Briefing—rangkuman penting Anda tentang perkembangan terpenting dalam dunia kripto untuk hari ini.

Ambil kopi dan bersantai. Minggu ini, pergerakan Bitcoin membuat trader berbicara, analis kebingungan, dan bahkan beberapa suara familiar mengisyaratkan bahwa tidak semuanya seperti yang terlihat. Di tengah penurunan, pemulihan, dan peringatan yang samar, satu pertanyaan tetap ada: siapa—atau apa—yang sebenarnya mengendalikan di balik layar?

Berita Kripto Hari Ini: Di Balik Kekuatan Bitcoin—Sebuah Kelompok? Jim Cramer Berpikir Begitu

Jim Cramer kembali memicu gelombang spekulasi di Crypto Twitter dan meja perdagangan, setelah dia menyarankan bahwa ada kekuatan tak terlihat yang mungkin bekerja untuk menjaga Bitcoin tetap tinggi meskipun ada tekanan ekonomi makro yang meningkat.

“Seperti ada sebuah kelompok yang mencoba menjaga Bitcoin di atas US$90.000. Saya suka Bitcoin, tapi saya tidak suka derivatif yang diciptakan untuk memainkannya, memanfaatkan, atau menambangnya,” dia ujar.

Pernyataan itu muncul pada saat yang sensitif bagi pasar. Bitcoin turun di bawah US$90.000 sebelumnya dalam minggu ini sebelum pulih, memicu trader untuk membedah pilihan kata-kata Cramer.

Referensinya pada “kelompok,” meskipun retorik, sudah cukup untuk memicu teori yang berkisar dari ETF market makers yang mempertahankan level kunci hingga pembeli institusional yang mengakumulasi secara diam-diam saat likuiditas menipis.

Cramer menegaskan lagi beberapa jam kemudian dengan pesan tajam lainnya: “Bahkan setelah semua kehancuran ini, kita belum oversold!!!”

Bagi banyak trader, ini terdengar bukan sebagai peringatan, melainkan waktu Cramer yang klasik, yang historis terkenal karena menyelaraskan dengan titik balik pasar ke arah sebaliknya.

Ini langsung memicu narasi Inverse Cramer: ketika Cramer menjadi bearish atau banyak memberi peringatan, beberapa trader mencari titik terendah sebagai gantinya.

BUY everything

— Ali (@ali_charts) November 19, 2025

Namun, analis berpendapat bahwa perilaku pasar baru-baru ini lebih banyak terkait kekuatan ekonomi makro daripada meme.

Faktor Ekonomi Makro, Bukan Meme: Apa yang Sebenarnya Menggerakkan Volatilitas Terbaru Bitcoin

Menurut QCP, penurunan singkat Bitcoin di bawah ambang US$90.000 mencerminkan meningkatnya sensitivitas aset terhadap perubahan likuiditas dan ekspektasi suku bunga.

Pandangan suku bunga yang lebih mantap, serta arus keluar yang terus-menerus dari Bitcoin ETF, telah membebani sentimen selama beberapa minggu. Penetapan harga ulang yang cepat dalam ekspektasi Federal Reserve, dari asumsi pengurangan suku bunga Desember menjadi undian koin hanya semakin memperberat tekanan itu.

“Pasar telah menetapkan harga ulang ekspektasi The Fed secara tajam, mengurangi kemungkinan pengurangan suku bunga Desember dari ‘hampir pasti’ menjadi ‘seimbang,’” QCP terang, menekankan bagaimana penyesuaian makro seperti itu secara tidak proporsional memengaruhi aset sensitif durasi seperti Bitcoin.

Sementara itu, ekuitas tetap relatif tangguh berkat hasil pendapatan besar dari hyperscaler berbasis AI. Kekuatan Big Tech meninggalkan kripto tertinggal, memperkuat volatilitas saat likuiditas menipis.

Sekarang setelah pemerintah AS dibuka kembali dan rilis data ekonomi dilanjutkan, trader bersiap untuk minggu kritis.

Indikator pasar tenaga kerja dan Indeks Ekonomi Terkemuka dari Conference Board, diperbarui dengan metrik kekosongan baru, diharapkan akan membentuk ekspektasi pasar saat kita memasuki 2026.

Poin data ini akan membantu menentukan apakah The Fed memilih untuk berhati-hati pada inflasi atau mengakui tanda-tanda pendinginan.

Pengingat terbaru Ketua The Fed Jerome Powell bahwa pemotongan suku bunga Desember “tidak dijamin” telah memperkuat suasana hati-hati.

Bagi Bitcoin, pertanyaannya adalah apakah gejolak baru-baru ini mewakili pengaturan ulang posisi standar atau pembukaan dinamika risiko yang lebih luas.

Komentar “kelompok” Cramer mungkin telah mendominasi berita utama, namun penggerak sebenarnya mungkin tetap adalah gelombang makro, dan apakah itu berbalik melawan kripto atau perlahan-lahan kembali mendukungnya.

Chart of the Day

Byte-Sized Alpha

Berikut adalah ringkasan berita kripto AS lainnya yang perlu Anda ikuti hari ini:

• Guncangan yield Jepang mengancam pasar global — dan Bitcoin mungkin berikutnya.
• Andrew Tate menjadi “salah satu trader terburuk dalam kripto” setelah kehilangan lebih dari US$800.000.
• Dominasi Tether mencapai 6% di bulan November – Mengapa ini menjadi sinyal yang mengkhawatirkan.
• Harga LIBRA naik 30% saat penyidik mengungkapkan bom politik.
• Para analis mengungkapkan level support kunci untuk Bitcoin jika tekanan jual tidak mereda di bulan November.
• Ethereum turun mendekati US$3.000, namun ‘zona peluang’ on-chain menunjukkan rebound.
• Prediksi Harga Utama 3 Bitcoin, Gold, Silver: Bulls datang menjelang Minutes FOMC Oktober.
• Dari 2052 ke 2034: Kemajuan kuantum mempercepat hitungan mundur ke Hari-Q.

Aset Kripto Pre-Market Overview

Perusahaan	Pada Penutupan 18 November	Gambaran Pre-Market
Strategy (MSTR)	US$206.80	US$205.75 (-0,51%)
Coinbase (COIN)	US$261.79	US$262.73 (+0,36%)
Galaxy Digital Holdings (GLXY)	US$25.58	US$25.84 (+1,02%)
MARA Holdings (MARA)	US$11.88	US$11.99 (+0,93%)
Riot Platforms (RIOT)	US$13.94	US$14.03 (+0,65%)
Core Scientific (CORZ)	US$15.43	US$15.80 (+2,40%)