In this episode of Coin Street headlines, we dive into the latest developments in the cryptocurrency market as bitcoin and ether experience significant declines. With bitcoin dropping as much as 6% and Ether more than 7%, traders are on high alert for potential further downturns. We discuss the critical support level for Bitcoin at $80,000 and the implications of low inflows into bitcoin ETFs. Join us as we analyze the challenging month of November for the crypto industry, where Bitcoin’s price fell by 20% and the stablecoin market saw a $2 billion capitalization decrease. We also explore the insights from Strategy CEO Phong Le regarding Bitcoin’s stock performance and the potential need for Strategy selling if conditions worsen. Additionally, we cover the upcoming difficulty adjustment for bitcoin mining, projected for December 11, and the challenges facing the mining industry, including regulatory issues and rising energy costs. Finally, we highlight the recent rally in crypto-linked stocks, driven by increasing odds of a Federal Reserve rate cut, and the performance of U.S.-listed Bitcoin miners like Cleanspark, Riot Platforms, and Cipher Mining. Jane King with the latest from the NYSE.
