Day: November 19, 2025

Convertible Bonds Threaten Corporate Bitcoin Treasuries, Exec Warns

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Convertible bonds offer cheap capital but carry refinancing risk, upfront short-selling, and multi-year overhangs. An analyst has warned that the real risk to Bitcoin Treasury Companies (BTCTCs) isn’t the price volatility currently being experienced in the market, but rather how their acquisitions are funded. According to H100 Group’s Bitcoin lead, Brian Brookshire, convertible bonds, while often attractive, represent a significant and underappreciated threat to corporate Bitcoin strategies. Capital Structure Takes Center Stage as BTCTCs Expand BTC Bets In a recent post on X, Brookshire laid out the menu of…

Bitcoin slips below key cost-basis levels amid declining ETF demand and weak spot activity

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Key Takeaways Bitcoin fell below key cost-basis levels, signaling potential market weakness. ETF products are seeing outflows, removing a significant source of demand for Bitcoin. Share this article Bitcoin fell below critical cost-basis levels today as the digital asset faces pressure from declining ETF demand and weakened spot market activity. Bitcoin ETFs, investment vehicles that provide exposure to Bitcoin’s price through regulated spot products, are experiencing steady outflows that have removed a key source of market demand. The combination of weak spot demand and ongoing ETF outflows has contributed to…

Aster introduces Machi mode, rewarding users for liquidation events

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Key Takeaways Aster, a decentralized crypto exchange, launched Machi Mode to reward users with points for liquidation events. The new feature gamifies trading losses by introducing leaderboards and points for users who are liquidated on leveraged positions. Share this article Aster, a decentralized crypto exchange platform, today introduced Machi Mode, a new feature that rewards users with points for experiencing liquidation events on leveraged positions. The gamified feature transforms trading losses into competitive opportunities by awarding liquidation points and creating leaderboards for users who get liquidated. Aster designed the mode…

BTC Model Shows Timing Matters Less Than Forecast Long-Term Returns

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Key takeaways: Power-law modeling shows Bitcoin generates strong long-term returns regardless of precise entry timing. Global liquidity sits far above prior-cycle levels, supporting a more favorable macroeconomic backdrop. Bitcoin currently trades at an unusually deep discount relative to its liquidity trends, with its fair value near $170,000. A new Bitcoin (BTC) simulation suggests that long-term investors may be overly concerned about timing their BTC purchases. In a detailed 10-year model, Bitcoin researcher Sminston With tested how a hypothetical investor deploying $100,000 today might perform under three different entry points: buying…

Zcash (ZEC) Flips Bitcoin Cash (BCH) Following Support From Binance: Details

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ZEC’s market capitalization has surged well above $10 billion. Тhe popular privacy coin Zcash (ZEC) registered another uptick over the last 24 hours, with its price spiking by roughly 10%. One possible catalyst fueling today’s pump is the additional backing from the world’s largest cryptocurrency exchange, Binance. ZEC in Green Territory Again The native token of Zcash is currently worth around $623, representing a triple-digit increase on a monthly scale. Following the latest uptrend, its market capitalization climbed to $10.2 billion, thus flipping Bitcoin Cash (BCH) and becoming the…

Grayscale set to launch XRP trust ETF

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Key Takeaways Grayscale is preparing to launch an XRP trust ETF, allowing broader investor access to XRP via a regulated, traditional product. The Grayscale XRP Trust currently operates as a private placement for accredited investors, tracking XRP’s price through a reference rate. Share this article Grayscale has hinted that it will soon launch its XRP trust ETF (GXRP), joining Canary Capital as one of the first US fund managers to expand investor access to the asset through a regulated investment vehicle. Grayscale XRP Trust is a private placement investment vehicle…

Bullish Posts Record Q3 After US Spot and Options Launch

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Bullish, an institutionally focused crypto exchange and the parent company of CoinDesk, reported its strongest quarter since going public, lifted by surging institutional activity around its new US spot market and a crypto options desk that crossed $1 billion in volume. Bullish recorded $18.5 million in net income, swinging from a $67.3 million loss in the same quarter a year earlier, the company announced on Wednesday. Adjusted revenue rose 72% year-over-year to $76.5 million, while adjusted EBITDA climbed to $28.6 million from $7.7 million.  Adjusted net income also turned positive…

Polymarket shows 50% odds of Bitcoin reaching $85K in November

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Key Takeaways Bitcoin is trading at $89,000 amid broader weakness in crypto and equities, raising downside expectations. Polymarket users are pricing 50% odds of BTC hitting $85K this month, reflecting growing bearish sentiment. Share this article Polymarket traders now give 50% odds that Bitcoin will drop to $85,000 in November, with BTC sliding to $89,000 today. The outlook comes amid renewed pressure across crypto markets and a broader downtrend in equities, pushing traders to brace for further downside. The prediction market platform allows users to trade on real-world outcomes, offering…

xAI partners with Saudi Arabia and NVIDIA on 500-megawatt AI project

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Key Takeaways Elon Musk announced a 500-megawatt AI data center partnership between xAI and Saudi Arabia using Nvidia hardware. NVIDIA will supply critical AI chips and hardware for the initiative. Share this article Elon Musk’s artificial intelligence startup xAI will partner with the Kingdom of Saudi Arabia on a 500-megawatt data center project, powered by Nvidia hardware, as the Gulf state continues its push into next-generation tech infrastructure. Musk made the announcement on Wednesday while speaking alongside Nvidia CEO Jensen Huang at the US-Saudi Arabia investment forum in Washington, D.C.…

‘Smart trade’ — Eric Trump reacts after Dave Portnoy discloses XRP, BTC, and ETH purchases

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Key Takeaways Dave Portnoy disclosed new purchases of XRP, BTC, and ETH. Eric Trump publicly endorsed the trade as a ‘smart’ one. Share this article Eric Trump lauded Dave Portnoy’s move as a “smart trade” after the Barstool Sports founder disclosed he had accumulated XRP, Bitcoin, and Ethereum during the crypto market rout. Portnoy invested over $2 million in the three leading crypto assets, allocating the largest portion of the capital to XRP. He bought $750,000 in Bitcoin and $400,000 worth of Ethereum. It’s likely that Eric Trump was referring…