CryptoQuant CEO: Bitcoin bull market is starting, current data similar to 2020

BlockBeats News: On November 21st, it was reported that Trump's team is discussing the establishment of a new position in the White House specifically responsible for cryptocurrency policy, coupled with previous reports that the Trump Media Group is negotiating to acquire the cryptocurrency trading company Bakkt, which has made people more optimistic about the prospects of the cryptocurrency industry under the Trump administration. Cryptocurrency concept stocks surged before trading, with MicroStrategy rising over 10%. Bitcoin is approaching the highly anticipated milestone of $100000 at $97530 as of press time. The rise of Bitcoin has attracted a large amount of liquidity, while Ethereum and altcoins have generally declined. The futures of the three major stock indexes in the US stock market generally fell. As of press time, Dow Jones futures fell 0.15%, Nasdaq 100 futures fell 0.40%, and S&P 500 futures fell 0.29%. On Thursday, the Hong Kong stock market closed down, with the Hang Seng Index falling 0.53%, the State owned Enterprises Index falling 0.79%, and the Hang Seng Technology Index falling 1.24%. Market sentiment was generally weak. However, as Bitcoin approaches $100000 and continues to break new highs, cryptocurrency concept stocks have shown active performance and risen against the market trend. Blue Harbor Interactive has risen by over 54%, Boya Interactive has risen by nearly 17%, and OSL Group has risen by nearly 2%.

According to the popularity ranking, the popularity of OL has increased by 170000 followers compared to yesterday, ranking first. The popularity ranking is as follows: ① OL （$0.1190，23.10%） ② PNUT （$1.36，-15.53%） ③ BAN （$0.1700，-35.43%） ④ DOGE （$0.3842，-2.14%） ⑤ ACT （$0.4891，-9.11%） The main selling force of OL funds is strong, with a net outflow of $3.03 million in 24 hours and a transaction volume of $292 million in 24 hours, of which the main net outflow was $1.182 million.

The Binance ETH/USD perpetual funding rate is currently 0.03%, and long positions need to pay funding fees to short positions, indicating a high market sentiment. AICoin [PC - Home - Popular Rankings] has launched the "Fund Rate" ranking, which provides a list of rate arbitrage opportunities. Capital fees are an important mechanism for anchoring spot prices in perpetual contracts, used to balance long and short sentiment. When the funding rate is greater than 0, long positions pay funding fees to short positions; When the funding rate is less than 0, short sellers pay funding fees to long sellers.

According to Lookonchain monitoring, Arthur Hayes has transferred 32.95 million ATHs (approximately $1.95 million) and 500 ETH (approximately $1.57 million) in the past 30 minutes. Among them, 2.95 million ATHs (approximately $175000) have been deposited into the Bybit exchange.