BTC experiencing upward insertion phenomenon, custom indicators remind you to pay attention to market trends

According to Bloomberg, Intesa Sanpaolo SpA is expanding the scope of its digital asset division to handle spot trading of cryptocurrencies, marking the latest move by traditional banks to penetrate new markets. According to informed sources, Italy's largest bank established a proprietary cryptocurrency trading department within its corporate and investment banking division in 2023. Since then, the department has only traded cryptocurrency options, futures, and exchange traded funds. Although spot trading has not yet started, the trading counter has obtained the necessary internal approvals and technical systems about a month ago. Cassie Craddock, Managing Director of Ripple UK and Europe, confirmed that the Italian Union Bank of Sao Paulo has partnered with Ripple Custody (formerly known as Metaco) to build custody functions for any type of tokenized asset.

BlockBeats News: On November 15th, an ally of US President elect Trump in the US Senate formulated a plan aimed at filling Trump's proposed strategic Bitcoin inventory without increasing the government deficit by selling off some of the Federal Reserve's gold. Wyoming Republican Senator Cynthia Lummis plans to push for a bill when the new Congress takes office next year. The bill requires the United States to purchase 1 million bitcoins, accounting for nearly 5% of outstanding tokens. Based on current market prices, this acquisition will cost approximately $90 billion, but if the bill is passed and investors act before the government makes a purchase, the amount required for the acquisition may increase. (Golden Ten)

Singapore based cryptocurrency investment firm QCP Capital has issued a statement stating that "given Bitcoin's strong rally since the US election, we believe the target price range of $100000 to $120000 may not be too far away. As we prepare for the next wave of uptrend, the following trends and risk factors are worth paying attention to: 1. As many big players prepare for this uptrend and sell call options, the implied volatility has decreased during the uptrend. Our team has observed that with each new high, the market is selling call options and buying put options to hedge against downside risks. 2. The market still maintains a very high level of leverage, especially in the altcoin market. The high leverage buying has driven the perpetual contract funding rate up to 50% to 100%, especially in the altcoin market, where the risk of deleveraging may be significant. We believe that the strong fundamentals of Bitcoin reflect a systemic shift in the market towards Trump's return to the White House. His idea of establishing strategic Bitcoin reserves and shifting from gold to Bitcoin provides a strong narrative support for Bitcoin prices

According to official sources, OKX Connect, launched by OKX Web3, now officially supports Cosmos based Sei networks. OKX Connect is a communication protocol between wallets and applications in the Telegram ecosystem, helping developers seamlessly connect their DApps and different blockchains developed on Telegram to provide users with the best experience. For Telegram Mini App that supports OKX Connect, it is possible to directly activate OKX Web3 wallet and Telegram based OKX Mini wallet for DApp interactions such as signature transactions. For more details, please refer to: https://www.okx.com/zh-hans/web3/build/docs/sdks/app-connect-cosmos

BlockBeats News: On November 15th, according to official announcements, Bybit has launched the Sui Chain Meme Coin HIPPOUSDT perpetual contract with a maximum leverage of 25 times.