Crypto Assets market reaches new heights, Bitcoin breaks $89,000

The global Crypto Assets market achieved a significant breakthrough on November 12, reaching a total market value of $3.11 trillion, setting a historical high. This milestone was made possible by the strong rise in Bitcoin prices, with the overall market increasing by 6.8% in the past 24 hours. Currently, Bitcoin's market value accounts for 56.3% of the entire Crypto Assets market, while Ethereum's share is 13%.

A listed company recently made a large-scale purchase of Bitcoin, becoming an important factor in driving the market up. The company purchased 27,200 Bitcoins between October 31 and November 10, with a total investment of approximately $2.03 billion, at an average purchase price of about $74,463 per coin. The funds for this purchase came from the company's stock sales activities. Currently, the company holds 279,420 Bitcoins, with a total investment of approximately $11.9 billion, and an average buying price of about $42,692 per coin. Based on the current price of Bitcoin at $89,000, the company's Bitcoin investment has an unrealized profit of approximately $12.9 billion.

The company's stock price also reached a new high of $340 on November 11, an increase of 25.73% in a single day. An ETF analyst pointed out that the company's trading volume on that day reached $12 billion, several times that of some large traditional enterprises.

With the rise in Bitcoin prices, the entire crypto assets market has generally strengthened. In the past 24 hours, the trading volume of the crypto assets market was approximately $355.68 billion.

At the same time, the largest stablecoin issuer in the market is also actively responding to market demand. The company has newly minted 2 billion stablecoins on the Ethereum network, and its CEO stated that this is a reserve prepared for future issuance requests and on-chain exchanges. According to statistics, the supply of stablecoins has already increased by 4.776 billion dollars last week.

Many analysis institutions hold an optimistic view on the prospects of the crypto assets market. An analyst from a well-known investment bank encouraged investors to increase their exposure to the crypto industry in a recent report. They anticipate that a more favorable regulatory environment may emerge in the future, which will benefit industry development. The institution advises investors to pay attention to spot Bitcoin and Ethereum ETFs, listed Bitcoin mining companies, enterprises holding Bitcoin, and crypto trading platforms. They also predict that Bitcoin may reach $200,000 by the end of 2025 and recommend that investors purchase major digital assets such as BTC, ETH, and SOL.

The research director of another international bank has also predicted that Bitcoin will continue to rise until the end of this year, potentially "easily reaching" 100,000 dollars before December 27. He further predicted that, given the recent strong performance of Ethereum and Solana, the entire crypto market may generally benefit, with the performance of some tokens potentially surpassing that of Bitcoin.

A cryptocurrency fund management institution pointed out in its latest weekly report that the results of the U.S. election are determined, and the U.S. stock market has experienced a significant rise. Traders are betting that U.S. corporate profits will improve in a low tax and low-interest-rate environment. Against this backdrop, Bitcoin ETF saw an inflow of $1.728 billion in a single week, stablecoin channels had an inflow of $4.776 billion in the same week, totaling an inflow of $6.504 billion, setting a record for the largest single-week inflow since 2024. The institution believes that driven by strong liquidity, Bitcoin is expected to continue to rise in the future, and other crypto assets will also experience a widespread bullish trend.