US Stock Crypto Concept Stocks Experience Downtrend, Circle (CRCL) Falls Below $70
On November 20th, based on market data, the cryptocurrency concept stocks in the US stock market witnessed a general decline. These include:
Coinbase (COIN), which dropped by 4.18% and is currently trading at $250.34;
Circle (CRCL), which dropped by 8.77% and is currently trading at $69.88;
MicroStrategy (MSTR), which dropped by 9.12% and is currently trading at $187.9;
SharpLink Gaming (SBET), which dropped by 4.93% and is currently trading at $10.03.
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The Trump Family Wealth Evaporated Over $5 Billion Due to the Plunge in DJT Stock Price
On November 20th, according to the report in the New York Post, Trump Media & Technology Group, a crypto and social media company under the control of the Trump family, witnessed its stock price plummet to an all-time low as the cryptocurrency market continued to decline, which led to the Trump family's wealth shrinking by more than $5 billion.
Former President Trump indirectly holds approximately 115 million shares of the company. Trump Media (stock symbol DJT) has dropped by nearly 70% this year, with 34.6% of the decline occurring in the past month.
During Wednesday's early trading, the stock price fell by about 1% to $10.76. It had hit a low of $10.32 during the previous day's trading, a level not seen since 2021.
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Bitwise CEO: Expects Cryptocurrency ETF Product to See Another Surge
On November 20th, as per the report by CNBC, Hunter Horsley, the CEO of Bitwise, stated, "In the crypto world, there will be an ETF feast. I think there will be more than 100 products launched. We will witness a large number of single-asset crypto exchange-traded products (ETPs). Nevertheless, what truly excites me the most is the growth of index-based crypto ETPs."
Even in the face of tough market conditions, he still holds the belief that index ETPs will be one of the most significant stories in the crypto space next year and ultimately become one of the largest categories attracting investor attention.
Hougan further added, "This industry will be ten times larger in the future compared to its present size." On October 28th, Bitwise launched a Solana staking ETF, which tracks the price of the cryptocurrency Solana.
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Institution: Fed Interest Rate Cut Path Divergence Intensifies, Meeting Minutes Expected to Clarify Direction
On November 20th, the data fog has heightened the uncertainty regarding the Fed's policy. Many Fed officials have expressed concerns about inflation stickiness and adopted a cautious attitude towards further rate cuts. This has also kept U.S. Treasury yields within a relatively narrow range as traders await new catalysts to change market pricing.
Michael Lorizio, the Head of U.S. Rates and Mortgage Trading at Manulife Investment Management, stated, "We have been lacking top-tier economic data guidance for an excessively long time. It is difficult to form a highly confident judgment on the current state of the U.S. economy until the data begins to emerge."
The upcoming release of the Fed's October meeting minutes may provide more insights into how many policymakers might be opposed to a rate cut in December. "When there were seemingly many different opinions earlier, today's summary information through the meeting minutes may assist in further shaping market expectations for the Decem
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In the past 24 hours, the entire network has seen $315 million in liquidations, with the majority coming from long positions.
On November 20th, according to Coinglass data, the total value of liquidations within the past 24 hours amounted to $315 million. Specifically, there were $222 million in long liquidations and $93.13 million in short liquidations.
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