Group 1 - Bitcoin price has risen above $90,000 for the first time in a week, recovering from over a month of sell-offs, driven by a rebound in risk assets and reduced volatility [1] - The market is increasingly confident that the Federal Reserve may soon resume interest rate cuts, which has contributed to the recent price increase [1] - BlackRock's U.S. Bitcoin ETF has attracted new inflows, ending a series of redemption waves, indicating a shift in market sentiment [1] Group 2 - The $80,000 mid-high range has acted as a support level during recent consolidation, reflecting a reversal of bearish sentiment in the derivatives market [2] - Demand for long positions in Bitcoin perpetual futures is increasing, with a moderate amount of open interest, suggesting a shift towards bullish bets [2] - The open interest for call options with a strike price of $100,000 has now surpassed that of put options, indicating a growing optimism among traders [2] Group 3 - Investors are testing the market again, with Bitcoin exchange-traded funds recording approximately $130 million in inflows on Tuesday [3] - However, November has seen nearly $3.6 billion withdrawn from 12 U.S.-listed Bitcoin funds, marking the most severe monthly outflow since these products were launched [3]

Core Insights - Singapore Exchange (SGX) will launch Bitcoin and Ethereum perpetual futures on November 24, targeting only qualified institutional investors [1] Group 1 - The introduction of Bitcoin and Ethereum perpetual futures marks a significant development in the cryptocurrency trading landscape [1] - The products are exclusively available to qualified institutional investors, indicating a focus on professional market participants [1]

Core Viewpoint - Bitcoin continues to decline, extending its downward trend in October due to a stronger dollar and turmoil in the decentralized finance sector [1] Group 1: Market Performance - Bitcoin dropped by 2.5% to $104,200, marking its lowest level in over two weeks [1] - Ethereum fell by 3.4%, dropping below $3,500 [1] - The decline follows a historic sell-off three weeks ago, which resulted in the liquidation of leveraged positions in the crypto market, causing losses in the billions [1] Group 2: Investor Sentiment - Investors are cautious about Bitcoin's ability to rebound, with market makers indicating that traders are "still unwilling to return to large-scale positions" [1] - The total open interest in Bitcoin perpetual futures is approximately $68 billion, down about 30% from October's peak [1] - In the past 24 hours, the overall selling pressure in the crypto market led to the liquidation of approximately $1.2 billion in long positions [1] Group 3: Fund Flows - Over the past four trading days, investors have withdrawn more than $1.8 billion from Bitcoin and Ethereum spot ETFs [1]

Group 1 - Bitcoin has reached a new historical high, surpassing $116,000, with options traders focusing on higher price levels, particularly call options at $115,000 and $120,000 [1] - The surge in Bitcoin's price is partly driven by institutional investor demand, reflecting a bullish sentiment since the November elections, with expectations of regulatory easing under a potential Trump administration [1][2] - The perpetual futures market for Bitcoin shows a positive funding rate, indicating strong demand for long positions among traders [1] Group 2 - The recent establishment of several cryptocurrency asset management firms is expected to increase demand for Bitcoin, as these firms aim to incorporate digital assets into their balance sheets [3] - Despite macroeconomic headwinds, such as potential tariff increases proposed by the Trump administration, Bitcoin has managed to achieve historic price increases [5] - Bitcoin is being recognized as a macro hedge and a mature asset class by institutions, especially during times of trade tensions and setbacks for altcoins [5]