The Core Foundation on Wednesday announced the Fusion Upgrade, a significant development for its blockchain platform, aiming to improve Bitcoin staking for a diverse range of users, including financial institutions <a href="https://www.benzinga.com/money/bitcoin-price-prediction">and individual investors.</a>



What Happened: The upgrade introduces Dual Staking and Liquid Staked Bitcoin (LstBTC), two features designed to increase staking rewards and address liquidity challenges, marking a new phase for the platform's role in Bitcoin-focused <a href="https://www.benzinga.com/money/what-is-defi#:~:text=In%20simple%20terms%2C%20DeFi%20involves,is%20Decentralized%20Finance%20(DeFi)%3F">decentralized finance (DeFi)</a>.



Dual Staking enables users to earn enhanced rewards by staking both Bitcoin and CORE (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">CORE</a>) tokens, potentially offering higher returns.



Meanwhile, LstBTC, an ERC-20 token pegged 1:1 with Bitcoin, allows holders to maintain liquidity while earning daily CORE token rewards. 



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42084945/coinbase-ceo-brian-armstrong-backs-doge-initiative-how-blockchain-could-transform-government-efficiency">Coinbase CEO Brian Armstrong Backs DOGE Initiative: How Blockchain Could Transform Government Efficiency</a>



This feature seeks to resolve a long-standing issue in DeFi by balancing staking benefits with liquidity needs. 



"This upgrade delivers scalability and yield enhancements that will not only improve the experience for current stakers but also attract new participants," said Rich Rines, an Initial Contributor to Core.



The Core blockchain has already secured over 7,600 BTC through its non-custodial staking protocol and claims support from approximately 75% of Bitcoin's hash rate. 



The blockchain has a total value locked (TVL) exceeding $650 million and over 300 million transactions processed. 



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42072663/bitcoin-etf-options-could-smooth-volatility-become-available-on-robinhood-soon-expert-says">Bitcoin ETF Options Could Smooth Volatility, Become Available On Robinhood Soon, Expert Says</a></li>
</ul>



Image: Shutterstock

Core Fusion Upgrade Introduces Dual Staking And Liquid Bitcoin Staking

Cryptocurrency markets are trading lower on Wednesday despite strong interest in spot Bitcoin ETFs.



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>&nbsp;$94,297.59</td><td>+1.3%</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>&nbsp;$3,076.55</td><td>-1.5%</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>&nbsp;$234.51&nbsp;</td><td>-3.3%</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>&nbsp;$0.3765</td><td>-6%</td></tr><tr><td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>&nbsp;$0.00002387&nbsp;&nbsp;</td><td>-5.2%</td></tr></tbody></table></figure>



Notable Statistics:



<ul>
<li>IntoTheBlock data shows large transaction volume increasing by 8.8% and daily active addresses falling by 6.4%. Transactions greater than $100,000 are up from 11,812 to 11,911 in a single day. Exchanges netflows are up by 84,696.7%.</li>



<li>Coinglass data reports 154,969 traders were liquidated in the past 24 hours for $397.33 million. Crypto short liquidations are at their lowest since Nov. 5 at $86.5 million.</li>
</ul>



Notable Developments:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42086650/robinhood-positioned-as-top-crypto-deregulation-trade-says-bernstein">Robinhood Positioned As Top &#8216;Crypto Deregulation&#8217; Trade, Says Bernstein</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42082385/coinbase-to-delist-wrapped-bitcoin-on-this-date-citing-listing-standards">Coinbase To Delist Wrapped Bitcoin On This Date, Citing &#8216;Listing Standards&#8217;</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42084945/coinbase-ceo-brian-armstrong-backs-doge-initiative-how-blockchain-could-transform-government-efficiency">Coinbase CEO Brian Armstrong Backs DOGE Initiative: How Blockchain Could Transform Government Efficiency</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42090657/microstrategy-upsizes-convertible-notes-offering-to-2-6-billion-for-bitcoin-purchases">MicroStrategy Upsizes Convertible Notes Offering To $2.6 Billion For Bitcoin Purchases</a></li>
</ul>



Top Losers:



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Goatseus Maximus (CRYPTO: GOAT)</td><td>&nbsp;$0.9278</td><td>-18.3%</td></tr><tr><td>Popcat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">POPCAT</a>)</td><td>&nbsp;$1.53</td><td>-16.2%</td></tr><tr><td>Peanut the Squirrel (CRYPTO: PNUT)</td><td>&nbsp;$1.48</td><td>-14.7%</td></tr></tbody></table></figure>



Trader Notes: With Bitcoin prices trading relatively flat, crypto trader DonAlt jokingly nudged traders to place their bets on the next move being up or down.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Place your bets, up or down brothers <a href="https://t.co/JK5i14m26d">pic.twitter.com/JK5i14m26d</a>&mdash; DonAlt (@CryptoDonAlt) <a href="https://twitter.com/CryptoDonAlt/status/1859312775727808947?ref_src=twsrc%5Etfw">November 20, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Michaёl van de Poppe <a href="https://x.com/CryptoMichNL/status/1859309485396775198">added</a> that Bitcoin's thesis remains a "slow grind up, significant flush, and then reverse back upwards." .



Crypto trader CrediBULL Crypto sees altcoins are approaching critical levels of interest as Bitcoin approaches a potential fakeout above local range highs. Ideally, BTC would re-enter its range, allowing a few weeks of altcoin outperformance.



Many altcoins face &#8220;make or break&#8221; moments, where strong upside potential is possible if BTC stabilizes. The market's <a href="https://x.com/CredibleCrypto/status/1859324721222799637">direction</a> will become clear soon.



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42097892/bitcoin-to-100000-is-programmed-dogecoin-bonk-to-benefit-veteran-trader-says">Bitcoin To ‘$100,000 Is ‘Programmed:' Dogecoin, Bonk To Benefit, Veteran Trader Says</a></li>
</ul>



Image: Shutterstock

Bitcoin Holding On To $94,000, Ethereum, Dogecoin Trade Lower: 'Place Your Bets, Up Or Down Brothers,' Says Trader

FLOKI to go live on Coinbase few days after the exchange listed PEPE and WIF

President-elect Donald Trump&#8217;s transition team is considering creating the first-ever White House role dedicated to cryptocurrency policy, signaling a potential shift in the <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41770352/bitcoins-future-under-president-elect-donald-trump-a-look-at-his-crypto-policies">U.S. government&#8217;s approach to digital assets</a>.



What Happened: The Trump transition team is evaluating candidates for a role that would act as a bridge between the White House, Congress, and regulatory agencies like the SEC and CFTC. 



Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-11-20/trump-team-mulls-creating-first-ever-white-house-crypto-role?utm_medium=social&amp;utm_campaign=socialflow-organic&amp;utm_source=twitter&amp;utm_content=crypto">reported</a> on Wednesday that while the exact nature of the position remains unclear, industry advocates are pushing for direct access to Trump.



The creation of this position aligns with Trump's campaign promises to overhaul crypto regulation, including <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41680397/who-will-replace-gary-gensler-the-top-candidates-for-sec-chair-after-the-election">replacing SEC Chair Gary Gensler</a> and forming a new crypto advisory council.



Key industry players are already vying for influence. 



Brian Brooks, a former executive at Coinbase and Binance.US, met with Trump at Mar-a-Lago, while Coinbase CEO Brian Armstrong reportedly held discussions with the president-elect this week.



Also Read: <a href="https://www.benzinga.com/24/11/42071926/a-hedge-fund-hit-big-on-trumps-rumored-crypto-acquisition-and-is-up-1415-million">A Hedge Fund Hit Big On Trump&#8217;s Rumored Crypto Acquisition And Could Be Up $14.15 Million</a>



Why It Matters: Trump's connection to the crypto industry runs deep. 



During his campaign, he promised substantial reforms and frequently engaged with Bitcoin mining firms and exchange executives. 



In July, he even addressed a Bitcoin conference, further solidifying his interest in the sector by stating he will <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001426/trump-aims-to-make-us-crypto-capital-of-the-planet-well-get-it-done">U.S. the crypto capital of the planet.</a>



Beyond policy, Trump has made personal forays into the crypto space, including the <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40623221/donald-trumps-fourth-nft-collection-has-generated-over-2m-in-sales-in-just-1-day">release of his fourth NFT collection</a>. 



His media venture, Trump Media &amp; Technology Group, has also <a href="https://www.benzinga.com/general/social-media/24/11/42048594/trump-digs-deeper-into-cryptocurrency-bakkt-shares-soar-on-reported-interest-from-president-elects-media-company">expressed interest in acquiring Bakkt Holdings</a>, a company specializing in crypto custody and trading.



Meanwhile, private equity billionaire Marc Rowan, a potential Treasury Secretary pick, admitted <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42091821/could-donald-trumps-potential-treasury-secretary-be-out-of-his-depth-on-crypto-policy-polymarket-traders-just-cant-decide-on-a-favorite">limited expertise in crypto's role</a> within the U.S. financial system, indicating the potential significance of a dedicated crypto-focused role.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42027183/michael-saylor-predicts-bitcoin-boom-says-100k-on-the-horizon">Michael Saylor Predicts Bitcoin Boom, Says $100K On The Horizon</a></li>
</ul>



Image: Shuterstock

Donald Trump Reportedly Eyeing The First Crypto-Focused Role In The White House

MARA Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) shares are trading higher Wednesday, potentially driven by Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) continued price surge. Here&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42096519/bitcoin-to-reach-190000-this-cycle-michael-terpin-of-transform-group-says">what you need to know.</a>



What To Know: Bitcoin has gained about 125% so far this year. Several crypto-related stocks are moving higher Wednesday after Bitcoin briefly hit all-time highs. Bitcoin was up about 1.1% over a 24-hour period, trading around $94,100 at last check.



Optimism around President-elect Donald Trump's incoming administration has also boosted sentiment. Trump has said he would establish a <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42080839/cynthia-lummis-says-strategic-bitcoin-reserve-could-take-shape-soon-after-trump-raises-his-hand-and-is-sworn-in">strategic&nbsp;Bitcoin reserve</a>&nbsp;upon his return to the White House. 



Speaking at Benzinga's <a href="https://benzinga.swoogo.com/fintech-awards/agenda-2024" target="_blank" rel="noreferrer noopener">Fintech Deal Day</a> on Tuesday, Michael Terpin, CEO of The Transform Group, predicted that Bitcoin could reach $193,000 in late 2025, with potential highs of $200,000 to $300,000 by the end of its current cycle if regulatory conditions improve.



Check This Out: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42080839/cynthia-lummis-says-strategic-bitcoin-reserve-could-take-shape-soon-after-trump-raises-his-hand-and-is-sworn-in">Cynthia Lummis Says Strategic Bitcoin Reserve Could Take Shape Soon After Trump &#8216;Raises His Hand And Is Sworn In&#8217;</a>



The trading activity in Marathon, one of the largest Bitcoin miners, is closely tied to Bitcoin's performance. Rising Bitcoin prices increase the value of MARA&#8217;s Bitcoin holdings. Interestingly enough, MARA Holdings is outperforming other Bitcoin mining peers on Wednesday. The outperformance may be due to the company&#8217;s strategy to raise capital to accumulate Bitcoin, similar to MicroStrategy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), which continues to see relative outperformance.



MARA Holdings adopted a <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39958725/marathon-digital-buys-bitcoin-adopts-full-hodl-strategy-whats-going-on-with-the-mining-sto">"full HODL"</a> strategy for its Bitcoin treasury policy earlier this year, retaining all Bitcoin it mines and periodically making strategic open market purchases. The company held a total of <a href="https://www.benzinga.com/news/earnings/24/11/41923273/mara-holdings-q3-earnings-revenue-miss-eps-miss-2070-bitcoin-mined-energized-hash-rate-up-9-exahash-target-firmly-in-sight">26,747 Bitcoin</a> as of Sept. 30.



MARA Holdings on Monday announced an upsized offering of $850 million in convertible<a href="https://www.benzinga.com/trading-ideas/movers/24/11/42066506/bitcoin-mining-stock-mara-holdings-is-moving-higher-whats-going-on"> senior notes</a> due in 2030. The company said proceeds will be used to repurchase existing debt and acquire more Bitcoin.



MARA Price Action: MARA Holdings shares were up 16.3% at 23.12 at the time of writing, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/24/11/42097269/the-trade-desk-launches-ventura-transforming-streaming-tv-advertising">The Trade Desk Launches Ventura to Transform Streaming TV Advertising</a></li>
</ul>



Image via Shutterstock.

Bitcoin Mining Stock MARA Holdings Is Ripping Higher Wednesday: What's Going On?

Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) approach toward the psychological $100,000 mark has sparked interest, with inflows into spot ETFs and <a href="https://www.benzinga.com/news/events/24/11/42078359/blackrocks-head-of-digital-assets-says-ibit-spot-bitcoin-etf-options-blow-past-1-billion-in-trading-volume">IBIT options trading</a> contributing to optimism.  



Statistics: Lookonchain <a href="https://x.com/lookonchain/status/1859239536397795757">data</a> shows the spot Bitcoin ETFs recording a net inflow of 9,363 BTC ($884.9 million) on Tuesday.



Spot Ethereum ETFs reported a net outflow of 26,071 ETH ($81.16 million). 



Ark21Shares&#8216; (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKB#BATS">ARKB</a>) led Bitcoin inflows with 2,871 BTC, increasing its holdings to 49,699 BTC, while Fidelity&#8216;s (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FETH#BATS">FETH</a>) reported the highest outflows of 15,000 ETH.



Bloomberg analyst Eric Balchunas <a href="https://x.com/EricBalchunas/status/1859253814051708964">noted</a> that ETF flows have hit record levels globally, with December historically being a high-flow month.



Trader Notes: Crypto chart analyst Ali Martinez compared Bitcoin's current performance to December 2020, citing identical RSI levels. His forecast suggests BTC will hit $108,000, retrace to $99,000, and then surge to $135,000.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> looks like it did in December 2020. Even the RSI is nearly identical. If true, <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> will go to $108,000, drop to $99,000, and bounce to $135,000! <a href="https://t.co/hsIBWBVGnl">pic.twitter.com/hsIBWBVGnl</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1859250153292538180?ref_src=twsrc%5Etfw">November 20, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Altcoin Sherpa <a href="https://x.com/AltcoinSherpa/status/1859240448021209366">sees</a> Bitcoin&#8217;s rise to $100,000 as &#8220;programmed,&#8221; with big meme coins like Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Bonk (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BONK</a>) expected to benefit. 



He predicts continued consolidation for altcoins, offering further opportunities for gains.



CrediBULL Crypto <a href="https://x.com/CredibleCrypto/status/1859006344935956564">noted</a> Bitcoin's movement above key low timeframe (LTF) levels, suggesting a consolidation phase before a sustained rise. If Bitcoin holds its highs, altcoins may pump further, but a sharp pullback to $70,000 could drag altcoins down temporarily.



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42024635/scaramucci-trumps-crypto-support-could-push-bitcoin-to-150k">Scaramucci: Trump&#8217;s Crypto Support Could Push Bitcoin To $150K</a></li>
</ul>



Image: Shutterstock

Bitcoin To '$100,000 Is 'Programmed:' Dogecoin, Bonk To Benefit, Veteran Trader Says

Glauber Contessoto, famously known as the "<a href="https://www.benzinga.com/news/24/11/41888955/from-16-000-to-18-million-in-unrealized-gains-millionaire-bonk-doge-trader-shares-update-if-you-cant">Dogecoin Millionaire</a>," unveiled his 2024 meme coin strategy, aimed at amassing $50 million in profits during the 2025 bull market.



What Happened: Contessoto's approach emphasizes diversification and data-driven decision-making across several categories:



<ul>
<li>Category 1 is selecting the top 10 meme coins by market capitalization and investing $10,000 in each of the top three. He advised taking decisions purely on valuations and charts with no emotional or narrative-based input.</li>
</ul>



<ul>
<li>Category 2 is choosing the top three meme coins by Blockchain and investing $10,000 in each of the top three like Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), Avalanche (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/avax/usd">AVAX</a>), Sui (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">SUI</a>). Contessoto believes meme coins often gain as their native blockchains grow, with DEX trades stacking blockchain altcoins faster.</li>
</ul>



<ul>
<li>Category 3 is the boys club meta with heavy focus on Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) as the &#8220;IT&#8221; meme coin for the 2025 bull run, projecting a $100 billion valuation. Also, investing in the PEPEVERSE like Brett (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BRETT</a>), Andy (CRYPTO: ANDY), WOLF on different blockchains. BRETT is likened to Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) from the last cycle, while Pepe is compared to Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) in 2021 bull run. Contessoto revealed investing $10,000 in ANDY and WOLF based on their market capitalization.</li>
</ul>



<ul>
<li>Category 4 suggests investing in meme coins with strong teams, communities, marketing or cult-like followings. He <a href="https://x.com/ProTheDoge/status/1859272433372647792">targets</a> to build a balanced portfolio to maximize gains, $50 million, during the 2025 bull run.</li>
</ul>



Contessoto has previously voiced his support for PEPE and and DOGE, saying both meme coins can crack <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40876130/dogecoin-millionaire-highlights-pepe-and-dogecoin-as-two-biggest-meme-narratives-for-2025-">new all-time highs in 2025.</a>



Read Next:



<ul>
<li> <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42079262/dogecoin-millionaire-predicts-ethereum-to-hit-15-000-if-bitcoin-cracks-200-000">&#8216;Dogecoin Millionaire&#8217; Predicts Ethereum To Hit $15,000 If Bitcoin Cracks $200,000</a></li>
</ul>



Image: Shutterstock

'Dogecoin Millionaire' Shares $50 Million Meme Coin Strategy For 2025: Pepe, Brett Are This Bull Run's DOGE, Shiba Inu

Ethereum Price Forecast: ETH could see 23% decline as investors are potentially rotating to other altcoins

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) could hit a benchmark price of <a href="https://www.benzinga.com/money/bitcoin-price-prediction">$193,000 by the end of its current cycle</a>, according to Michael Terpin, founder and CEO of The Transform Group.



What Happened: Terpin, who tied the projection to Bitcoin's historical price movements and favorable macroeconomic conditions, also noted that the price could range between $200,000 and $300,000 if the environment improves further.



He was speaking at Benzinga&#8217;s <a href="https://benzinga.swoogo.com/fintech-awards/agenda-2024">Fintech Deal Day</a> on Nov. 19.



At the event, he also announced the launch of his book &#8220;Bitcoin Supercycle,&#8221; which explains his "Four Seasons of Bitcoin" model, which shows how the price of Bitcoin moves in reliable cycles similar to those of real estate and stock markets—and gives readers the numbers, evidence, charts, and strategies to take advantage.



"My price prediction is going to be three times the halving price, which would be about $193,000 as a benchmark," he stated during the panel. 



Later speaking with Benzinga, he emphasized that macroeconomic factors, particularly under President-elect Donald Trump's administration, could influence Bitcoin's trajectory. "With Trump being in office, the macro should be good. So I believe we'll be between $200,000 and $300,000 by the end of the cycle."



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42076384/dogecoin-millionaire-predicts-ethereum-to-hit-15000-if-bitcoin-cracks-200000">&#8216;Dogecoin Millionaire&#8217; Predicts Ethereum To Hit $15,000 If Bitcoin Cracks $200,000</a>



Cycle End Predicted in Q4 2025



He suggested that the current cycle is likely to culminate in the fourth quarter of 2025, potentially around November or December. 



Bitcoin's strong performance this year, delivering returns exceeding 130%, was cited as evidence of the cryptocurrency's ability to outperform traditional asset classes like stocks and real estate.



Trump's Impact on Crypto Regulation



The discussion also highlighted optimism surrounding Trump's administration and its <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41770352/bitcoins-future-under-president-elect-donald-trump-a-look-at-his-crypto-policies">potential impact on cryptocurrency regulation.</a>



Terpin described Trump as the "first Bitcoin president," expressing confidence that the incoming administration would appoint a Securities and Exchange Commission (SEC) chair who is <a href="https://www.benzinga.com/24/11/42071926/a-hedge-fund-hit-big-on-trumps-rumored-crypto-acquisition-and-is-up-1415-million">favorable to Bitcoin</a>.



"There's renewed optimism. I think [Trump] will take a head of the SEC who is friendly to Bitcoin," he added.



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/news/events/24/11/42068771/bitcoin-ethereum-etfs-and-tokenized-assets-broaden-investor-access">Bitcoin, Ethereum ETFs And Tokenized Assets &#8216;Broaden&#8217; Investor Access</a></li>
</ul>



Image: Shutterstock

Bitcoin To Reach $190,000 This Cycle, Michael Terpin Of Transform Group Says

Ethereum's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) recent underperformance is a buying opportunity, with traders pointing to several factors that an altcoin season is <a href="https://www.benzinga.com/money/ethereum-eth-price-predictions">still to come</a>.



What Happened: Crypto chart analyst Ali Martinez predicts ETH will outperform Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) in the current market cycle. 



Martinez highlighted several key factors for his optimism:



<ul>
<li>Investor Accumulation: <a href="https://www.benzinga.com/money/what-is-ethereum-etf">Spot Ethereum ETFs</a> have shifted from distribution to accumulation, amassing over $147 million in ETH, while Ethereum whales have purchased $1.4 billion worth of ETH.</li>



<li>Price Targets: An ascending parallel channel suggests potential price levels of $4,000 (mid-boundary) and $6,000 (upper boundary). A bullish scenario, mirroring S&amp;P 500 patterns, even hints at a target of $10,000.</li>



<li>Critical Support Levels: Ethereum&#8217;s bullish outlook depends on holding two key support levels—$3,000, where 2.82 million addresses hold 6.14 million ETH, and $2,400, the lower boundary of the channel.</li>



<li>MVRV Momentum:  The MVRV Momentum indicator points to significant upside potential for Ethereum, signaling a breakout could be on the horizon. Martinez <a href="https://x.com/ali_charts/status/1859014179455463768">noted</a> that the indicator hasn't yet crossed above its 180-day moving average, despite recent price increases from $2,400 to $2,800, suggesting further upside for Ethereum.</li>
</ul>



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42076384/dogecoin-millionaire-predicts-ethereum-to-hit-15000-if-bitcoin-cracks-200000">&#8216;Dogecoin Millionaire&#8217; Predicts Ethereum To Hit $15,000 If Bitcoin Cracks $200,000</a>



Why It Matters: Ethereum&#8217;s potential rally aligns with its increasing institutional interest and whale accumulation. 



IntoTheBlock data shows transactions greater than $100,000 are up from 8,210 to 8,494 in a single day, while large transaction volume decreased by 15.8%. 



Exchanges netflows are down by 126.9%.



Ethereum co-founder Vitalik Buterin <a href="https://x.com/VitalikButerin/status/1859092196156469715">also</a> emphasized the importance of strong Layer-1 solutions for stability during tough times and the flexibility of Layer-2 solutions for growth periods.



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/news/events/24/11/42068771/bitcoin-ethereum-etfs-and-tokenized-assets-broaden-investor-access">Bitcoin, Ethereum ETFs And Tokenized Assets &#8216;Broaden&#8217; Investor Access</a></li>
</ul>



Image: Shutterstock

4 Reasons Why Ethereum Will Still Outperform Bitcoin—Analyst Sees $4,000 To $6,000 As Target

Bitcoin Price Forecast: BTC hits new all-time high, towards $100K or cycle top?

Private equity billionaire Marc Rowan, who has emerged as a contender for the Treasury Secretary post, has openly admitted to being "out of my depth" when it comes to understanding cryptocurrency's role in the <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42053981/trump-sec-pick-speculation-sends-this-altcoin-soaring-past-bitcoin-and-ethereum-in-daily-gains">U.S. financial system</a>.



What Happened: In a recent <a href="https://conversationswithtyler.com/episodes/marc-rowan/">podcast </a>with economist Tyler Cowen, the CEO of Apollo Global Management reflected on the complexities of cryptocurrency within the financial sector. 



Rowan criticized the limited understanding of crypto among prominent figures, including potential policymakers.



He said, "Out of my depth. Absolutely no idea," when asked directly about crypto's future role in the U.S. financial system.



Rowan further highlighted the potential for stablecoins and on-ramps to streamline the financial system but dismissed the relevance of alternative currencies in a regulated environment. 



"I see every opportunity for [stablecoins] to reduce the cost, to reduce the friction of dealing with the financial system," Rowan said.



However, he added, "In a KYC-AML world, I don't see a value for an alternative currency."



While Rowan was candid about his own lack of involvement in crypto through Apollo, his remarks raised questions about Warsh's readiness to tackle the growing importance of digital assets as a key component of financial policy.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42084945/coinbase-ceo-brian-armstrong-backs-doge-initiative-how-blockchain-could-transform-government-efficiency">Coinbase CEO Brian Armstrong Backs DOGE Initiative: How Blockchain Could Transform Government Efficiency</a>



Why It Matters: Prediction market Polymarket currently <a href="https://polymarket.com/event/who-will-trump-nominate-for-treasury-secretary">places</a> former Federal Reserve Governor Kevin Warsh as the leading candidate for the Treasury Secretary position, with a 50% chance.



Other contenders are hedge fund manager Scott Bessent (20%) and Rowan (20%). However, the volatile market reflects the participants&#8217; uncertainty, with Bessent&#8217;s and Rowan&#8217;s chances having traded above 50% in recent days.



Elon Musk also weighed in on the selection process, using his social media platform X to endorse Howard Lutnick, CEO of <a href="https://www.benzinga.com/etfs/24/11/42044642/trump-appears-frustrated-as-elon-musk-chimes-in-on-treasury-secretary-adds-more-names-to-a-list-of-potential-picks">Cantor Fitzgerald, for the position. </a>



While Lutnick was recently picked to lead the Commerce Department, Musk's public endorsement added another layer of speculation and reshaped the dynamics of the Treasury Secretary race.



Reports indicate that infighting among camps supporting Bessent and Lutnick has frustrated Trump, prompting him to consider alternatives. 



Rowan's candidacy has reportedly gained momentum following Lutnick's commerce appointment, while Bessent remains a strong competitor despite internal disputes.



The Treasury Secretary's role in shaping policies around these technologies will be critical as the U.S. faces growing competition from countries advancing their own <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40837533/put-in-the-cbdc-russian-central-bank-targets-july-2025-for-widespread-digital-ruble-use">central bank digital currencies (CBDCs)</a>.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42072663/bitcoin-etf-options-could-smooth-volatility-become-available-on-robinhood-soon-expert-says">Bitcoin ETF Options Could Smooth Volatility, Become Available On Robinhood Soon, Expert Says</a></li>
</ul>



Image: Wikimedia

Could Donald Trump's Potential Treasury Secretary Be 'Out Of His Depth' On Crypto Policy? Polymarket Traders Just Can't Decide On A Favorite

Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) price has increased 3.1% over the past 24 hours to $94,742.00. Over the past week, BTC has experienced an uptick of over 3.0%, moving from $91,723.47 to its current price. As it stands right now, the coin's all-time high is $94,659.00. 
The chart below compares the price movement and volatility for Bitcoin over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
<img src="https://www.benzinga.com/files/images/story/2024/1732114810_0.png" alt="price_chart" />

The trading volume for the coin has decreased 8.0% over the past week, while the overall circulating supply of the coin has decreased 0.06% to over 19.78 million. This puts its current circulating supply at an estimated 94.21% of its max supply, which is 21.00 million. The current market cap ranking for BTC is #1 at $1.87 trillion.
<img src="https://www.benzinga.com/files/images/story/2024/1732114810_1.png" alt="supply_and_vol" />

<a href="https://www.coingecko.com/en/api">Powered by CoinGecko API</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Test0.17148868987227806: Bitcoin's Price Increased More Than 3% Within 24 hours

MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) on Wednesday announced an increase in its convertible senior notes offering to $2.6 billion from its initial $1.75 billion, signaling its <a href="https://www.benzinga.com/24/11/42079799/microstrategys-michael-saylor-to-advocate-for-bitcoin-investment-at-microsoft-board-meeting-offers-to-educate-rumble-ceo-with-the-strategy">continued aggressive stance</a> on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) accumulation.



The company plans to use the net proceeds to acquire additional Bitcoin and for general corporate purposes.



What Happened: This <a href="https://www.businesswire.com/news/home/20241120130094/en/MicroStrategy-Announces-Pricing-of-Offering-of-0-Convertible-Senior-Notes">announcement </a>comes as Bitcoin's price surges past $94,000, propelling MicroStrategy's market capitalization to $96.73 billion, surpassing the combined value of Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) and Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>), the world's two largest gold mining companies.



The 0% convertible senior notes, due 2029, will be offered to qualified institutional buyers under Rule 144A of the Securities Act and certain non-U.S. persons in compliance with Regulation S. 



With an initial conversion price set at $672.40 per share—a 55% premium over the November 19 closing price—the offering highlights strong institutional demand.



MicroStrategy expects to raise $2.58 billion in net proceeds, potentially reaching $2.97 billion if initial purchasers exercise their option to acquire additional notes. 



The offering is set to close on Nov. 21, pending customary conditions.



The upsized offering underscores MicroStrategy's commitment to Bitcoin as <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41878981/microstrategy-acquires-another-27200-bitcoin-worth-2-billion">a treasury reserve asset</a>, a strategy that has significantly boosted its market value.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42086650/robinhood-positioned-as-top-crypto-deregulation-trade-says-bernstein">Robinhood Positioned As Top &#8216;Crypto Deregulation&#8217; Trade, Says Bernstein</a>



Why It Matters: The company's valuation now outpaces Newmont's $49.16 billion and Barrick Gold's $31.11 billion, reflecting the growing influence of digital<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42083188/mstr-rises-3-in-wednesday-pre-market-michael-saylors-company-is-now-worth-more-than-the-combined-market-caps-of-worlds-two-largest-gold-mining-companies"> assets over traditional commodities.</a>



"MicroStrategy's market cap exceeding these gold giants demonstrates the transformative potential of Bitcoin," said Peter Schiff, who questioned whether MicroStrategy could soon surpass the entire gold mining industry's capitalization.



MicroStrategy's stock has surged 3.36% in pre-market trading, driven by Bitcoin's rally to over $94,000.



The company recently acquired 51,780 bitcoin between Nov. 11 and 17 for $4.6 billion, further consolidating its position as the largest corporate holder of the cryptocurrency.



Its Bitcoin holdings now exceed 331,000 BTC, with a cumulative acquisition cost of over $16 billion.



Executive chairman Michael Saylor has positioned Bitcoin as a hedge against inflation, a strategy initiated in 2020 that has paid off amid surging cryptocurrency prices.



While MicroStrategy doubles down on Bitcoin, other major players like Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) continue to focus on traditional assets. 



Goldman <a href="https://www.benzinga.com/markets/commodities/24/11/42036300/go-for-gold-says-goldman-sachs-precious-yellow-metal-price-would-rise-in-2025-amid-central-bank-buying-fed-rate-cuts">recently projected gold prices</a> to reach $3,000 per ounce by the end of 2025, emphasizing its role as a leading commodity trade.



Read Next:<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42084945/coinbase-ceo-brian-armstrong-backs-doge-initiative-how-blockchain-could-transform-government-efficiency"> Coinbase CEO Brian Armstrong Backs DOGE Initiative: How Blockchain Could Transform Government Efficiency</a>

MicroStrategy Upsizes Convertible Notes Offering To $2.6 Billion For Bitcoin Purchases

Bonk (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BONK</a>) has rallied 42% in the past week, prompting traders to point out its relative strength over <a href="https://www.benzinga.com/money/bonk-bonk-price-prediction">other meme coins</a>.



What Happened: The meme coin has secured its position as the top Solana-based meme coin and the fourth largest meme coin overall. 



With a market cap of $4 billion and a 24-hour trading volume of $3.6 billion, Bonk has surpassed Dogwifhat's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WIF</a>) $3.2 billion valuation and $1 billion trading volume.



As of Nov.19, BONKBot has burned over 500 billion BONK tokens, valued at $26 million. 



The platform <a href="https://x.com/bonkbot_io/status/1858790058171793810">allocates</a> 100% of its fees to buy BONK, with 10% immediately burned, contributing to its deflationary tokenomics.



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>Market Cap</td><td>24-Hour Trend</td><td>7-Day Trend</td></tr><tr><td>Bonk (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BONK</a>)</td><td>&nbsp;$0.000054</td><td>$4.05 Billion</td><td>&nbsp;+5.4%</td><td> +42.4%</td></tr><tr><td>Dogwifhat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WIF</a>)</td><td>&nbsp;$3.25</td><td>$3.2 Billion</td><td>&nbsp;-4.8%</td><td>&nbsp;+1.1%</td></tr><tr><td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>&nbsp;$0.00002451</td><td>$14.5 Billion</td><td>&nbsp;-2%</td><td>&nbsp;-3.9%</td></tr><tr><td>Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>)</td><td>&nbsp;$0.00002017</td><td>$8.5 Billion</td><td>&nbsp;+1.1%</td><td>&nbsp;+13.9%</td></tr></tbody></table></figure>



Trader Notes: Unipcs, known as BONK Guy, highlights Bonk's dominance:



<ul>
<li>Exceeding Solana's trading volume on Coinbase.</li>



<li>Surpassing the combined trading volumes of Pepe, Shiba Inu, and Dogwifhat on Coinbase.</li>



<li>Ranking second only to Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) in meme coin trading volume on Upbit, while globally being the 7th most-traded cryptocurrency (excluding stablecoins).</li>
</ul>



Unipcs predicts Bonk's sustained trading momentum could trigger an aggressive price surge, <a href="https://x.com/theunipcs/status/1859165434336972956">describing</a> the potential for a "parabolic" rise.



Trader Zer0 and Altcoin Sherpa echo bullish sentiments, with Sherpa <a href="https://x.com/AltcoinSherpa/status/1859085159909265716">emphasizing</a> Bonk's dominance, stating, "Why buy any other meme coin when Bonk is the strongest?" Trader Zer0 <a href="https://x.com/degengambleh/status/1858918826575802829">sees</a> Bonk is in the middle of its expansion, and it has only begun.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">if actively trading CEX coins, why would you buy anything other than <a href="https://twitter.com/search?q=%24BONK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BONK</a>? clearly the strongest one lately <a href="https://t.co/jjOse2Qp5F">pic.twitter.com/jjOse2Qp5F</a>&mdash; Altcoin Sherpa (@AltcoinSherpa) <a href="https://twitter.com/AltcoinSherpa/status/1859085159909265716?ref_src=twsrc%5Etfw">November 20, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Community News: South Korean exchange Upbit <a href="https://x.com/Official_Upbit/status/1859075993178378384">listed</a> the Bonk/KRW pair effective today.



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42042853/bonk-up-95-over-the-past-week-deflationary-dog-money-could-rival-shiba-inus-2021-rally-says-veteran-trader">BONK Up 95% Over The Past Week: &#8216;Deflationary Dog Money&#8217; Could Rival Shiba Inu&#8217;s 2021 Rally, Says Veteran Trader</a></li>
</ul>



Image: Shutterstock

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