Between revolutionary announcements, technological developments and regulatory turbulence, the crypto ecosystem continues to prove that it is both a territory of limitless innovation and a field of regulatory and economic battles. Here is a summary of the most notable news from the past week around Bitcoin, Ethereum, Binance and Solana, and Ripple.
Bitcoin: The whales set sail
Bitcoin recently crossed an all-time high of $93,000, but this surge has led to a wave of massive profit-taking, mainly by long-term investors. Between November 12 and 14, historical holders secured more than $5 billion in gains, marking a record with a Spent Output Profit Ratio (SOPR) at the highest since August 2023. These sales coincide with a rally fueled by the electoral victory of Donald Trump, which supported market optimism. Although these record earnings volumes may signal an impending correction, the fundamentals remain strong thanks to growing institutional adoption and a favorable economic backdrop.
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Ethereum: ETFs on the rise
Ethereum ETFs hit a record weekly trading volume of $1.63 billion, marking a dramatic 44% rise in one week. This rebound comes four months after their launch and coincides with a notable increase in the price of ETH (+25%), the strongest since May. After a period of calm, this recovery aligns with the increased interest of institutional investors in regulated products exposed to Ethereum. This phenomenon is reminiscent of the early days of Bitcoin ETFs, which followed a similar pattern of explosive start, consolidation, then recovery. This rise confirms the growing maturity of the crypto market and broad adoption by traditional financial players. The coming weeks could be decisive in confirming this dynamic.
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Bitcoin and Ethereum in difficulty, Ripple going against the tide
The crypto market experienced a widespread decline at the end of the week. Bitcoin fell 2%, Ethereum fell 4%, and Solana fell 3%. This weakness of the leaders was accompanied by an uncertain macroeconomic context, marked by regulatory pressures and massive sales of BTC by miners. Despite this gloomy climate, Ripple (XRP) created a surprise with a spectacular increase of more than 20%. Investors remain on alert and seek to adapt to this extreme volatility.
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Michael Saylor prophesies: Bitcoin at $100,000 Before 2025!
Michael Saylor, founder of MicroStrategy, remains firmly bullish on Bitcoin and predicts it will surpass $100,000 before the end of 2024. He attributes this confidence to favorable political developments in the United States, including a bill to accumulate a million Bitcoins in national strategic reserves. According to him, this initiative could bring $16,000 billion to the American economy over 21 years. Additionally, he expects growing institutional adoption and a clear regulatory framework, ending the “war on crypto.” With an increasingly favorable macroeconomic and regulatory environment, Saylor sees Bitcoin as an irresistible force, now poised to conquer new heights.
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Solana: A revolutionary ETF for 2025?
VanEck anticipates a potential Solana-based ETF before the end of 2025, marking a key milestone for altcoin adoption. This project is based on the evolving American political climate, where a Trump administration could adopt a pro-crypto posture, contrasting with the numerous restrictive actions carried out by the SEC under Biden. A Solana ETF would open a new era for institutional investors, facilitating access to regulated cryptos without direct management. At the same time, this development reflects a global dynamic of democratization of cryptos, already visible in Europe with more than 30 active ETFs. If these predictions come true, 2025 could become a pivotal year for the integration of cryptos into traditional finance, consolidating the position of altcoins in the global market.
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This is the main thing to remember for this week. But if you want a more detailed recap and in-depth analysis straight to your inbox, feel free to subscribe to our weekly newsletter.
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