Bitcoin Surpasses $107,000

On November 11th, as per Ashes Monitor, the address of the suspected Variant Fund transferred another 8.23 million UNI to Coinbase Prime within approximately 45 minutes. Earlier, after the announcement of the "Activate Fee Switch" proposal, the address transferred 2.818 million UNI (equivalent to 27.08 million US dollars) to Coinbase Prime.

On November 11th, according to the monitoring of HyperInsight, the "buddy" has continuously increased its long position in UNI by more than 10 times in the past hour. It now holds a total of more than 350,000 UNI tokens. As of the time of writing, their overall long position amount has reached $23.64 million, with unrealized profits of more than $500,000.

November 11th, Dak Listing - The Bitcoin mining company CleanSpark announced that it is aiming to raise $1 billion through a private placement of convertible preferred notes in order to expand its business. The company intends to issue zero-coupon convertible bonds that are due in 2032. The initial purchasers have the option to purchase an additional $200 million. CleanSpark plans to use up to $400 million of the proceeds to repurchase its own shares. The remaining funds will be allocated towards expanding its power and land portfolio, developing data center infrastructure, repaying Bitcoin-backed credit lines, and for general corporate purposes. These zero-coupon convertible bonds will mature on February 15, 2032. The company has the discretion to convert them into cash, stock, or a combination of both. CleanSpark stated that these bonds are senior unsecured debt and do not pay regular interest.

On November 11th, the data analyst jpn memelord stated that a significant effect of Uniswap's fee switch is to cause fraudulent pools (such as honeypots and automated rugs, etc.) to disappear within a single night. This is because these pools rely on a protocol fee of zero. According to rough estimates, approximately half of the Uniswap volume on Base falls into this category. Unofficial and unfiltered data indicates that in 2025, the Uniswap volume on Base is $208.07 billion. However, after applying certain filtering conditions, the non-fraudulent volume is only $77.38 billion.

On November 11th, U.S. Treasury Secretary Scott Bessent tweeted that the Treasury Department and the IRS have issued new guidance. The purpose of this guidance is to provide regulatory support for crypto ETPs that have staking functionality. The guidance clarifies the tax treatment of staking rewards within the ETP structure. It offers an "explicit path" for asset management companies that want to provide exposure to digital asset yields. The new policy makes it clear that staking rewards generated within the ETP structure will not immediately lead to a direct tax obligation for individual investors. This addresses the long-standing uncertainty surrounding proof-of-stake cryptocurrencies in regulated investment vehicles.

On November 11th, the prominent crypto analyst @IamCryptoWolf posted on Platform X, stating that in November, ETH is anticipated to form a distinct higher low (as depicted in the image below). Only after that will the market be confident in reaching a new all-time high in December. Furthermore, the $3100 level has now become a crucial support area. If the bulls manage to hold this area, the trend can remain intact. If this area is broken through, the bear market will commence. @IamCryptoWolf first shared their analysis on the Tradingview platform in 2014 and has 113,000 followers on Platform X.