Spot gold falls below $4,000/ounce

Maple co-founder Joe Flanagan will step down as chairman and leave the company, with his responsibilities being handed over to co-founder and CEO Sid Powell and other management members. Joe Flanagan and Sid Powell have disagreements on strategy and leadership, and Flanagan will assist with the transition until the end of the year. (Source: The Block, The Defiant)

Binance - ETH/USDT is currently trading at $2101.11, up 0.23% in the last 5 minutes. Please be aware of market volatility.

Glassnode data shows that Bitcoin has fallen below the $75,600 cost price for short-term holders, with approximately 65% of recent BTC purchases currently at a loss. Stablecoin supply has decreased by $14.2 billion in the past 30 days, the fastest contraction since June 2022, while the U.S. spot Bitcoin ETF recorded a net outflow of $1.6 billion in 20 trading days. Wallet addresses holding 100 to 10,000 BTC have begun to increase their holdings. Glassnode considers $73,000 a key support level.

[Oracle CFO: Plans to Add 7 GW of Data Center Capacity Over the Next Two Years] Oracle CFO Hilary Maxson stated that demand for cloud infrastructure is strong, and the company plans to add 7 GW of data center capacity over the next two years, bringing its total capacity to 10 GW. Customers are still signing contracts for the next two to four years, and the company has not yet seen any signs of a shift in demand. Oracle expects total revenue to exceed $225 billion in fiscal year 2030, with capital expenditures peaking in fiscal years 2027 and 2028, and anticipates achieving positive free cash flow starting in the second half of fiscal year 2028. (Source: Investor’s Business Daily)

On November 12, spot gold fell below $4,000 per ounce, down 0.82% on the day.