Binance founder Zhao Changpeng predicts more historical highs

OKX-BTC/USDT is currently trading at $90182.70, with a 5-minute increase of 0.51%. Please be aware of market fluctuations.

The group of 10 banks plans to introduce its euro stablecoin next year under a new Dutch entity named Qivalis.

[Upexi Completes Private Placement of Common Stock and Warrants Up to $23 Million] Nasdaq-listed company Upexi (UPXI) announced the completion of a private placement, issuing 3,289,474 shares of common stock and warrants. The warrants allow the purchase of up to 3,289,474 shares of common stock at a combined purchase price of $3.04 per share. The total funds raised in this placement amount to approximately $10 million. If the warrants are fully exercised in cash, an additional $13 million is expected to be raised. The amounts mentioned are before deducting placement agent fees and other estimated placement expenses. The company plans to use the net proceeds for working capital, general corporate purposes, and its internally managed SOL Maximum Return Strategy.

[Bank of America Allows Wealth Advisors to Recommend Allocating 1%-4% in Crypto Assets] Bank of America has announced that it will allow wealth management advisors to recommend allocating 1% to 4% of crypto assets to clients, with the new policy set to take effect in January next year. Chris Hyzy, Chief Investment Officer of Bank of America Private Bank, stated that a moderate allocation of 1%-4% in digital assets is suitable for investors interested in innovation themes and capable of handling high volatility. Risk-averse investors are advised to allocate a lower proportion, while those with higher risk tolerance may opt for a higher proportion. Advisors will initially focus on four spot Bitcoin ETFs: BlackRock's IBIT, Fidelity's FBTC, Bitwise's BITB, and Grayscale's BTC. This move aligns Bank of America with institutions such as BlackRock and Morgan Stanley. Hours ago, Vanguard announced that it would allow clients access to crypto ETFs.

**[Bitfinex Alpha: The Crypto Market May Be Approaching a Cyclical Bottom]** Bitfinex Alpha stated in an article that, from a time perspective, the crypto market may be nearing a cyclical bottom, although it remains to be seen whether prices have truly bottomed out. The market has shown signs of extreme deleveraging, panic selling by short-term holders, and exhaustion of selling pressure. On-chain data indicates that the adjusted Spent Output Profit Ratio (aSOPR) has fallen below 1 for the third time since early 2024, resembling previous cycle lows. Meanwhile, the "entity-adjusted realized loss" metric has surged to $403.4 million per day, surpassing previous low levels, suggesting that panic selling may be nearing its end. Derivatives data shows that Bitcoin futures open interest has dropped to $59.17 billion, down from the peak of $94.12 billion, indicating that leveraged positions are being cleared in an orderly manner. The market is transitioning into a more stable consolidation phase.