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Market dynamics on November 12: BTC is approaching $90,000, the bull market main rising wave reappears, MicroStrategy spends $2 billion to snap up BTC

Market dynamics on November 12: BTC is approaching $90,000, the bull market main rising wave reappears, MicroStrategy spends $2 billion to snap up BTC

Bitget2024/11/12 02:39

I. Market Dynamics

1. BTC's price surged close to 90,000, similar to the last bull market wave. MicroStrategy purchased $2 billion worth of BTC. The market sentiment is fervent, with BTC contract rates entering a high-risk zone of 0.05-0.1%.

2. U.S stocks rose to new highs, with Tesla seeing significant gains.

II. Market Focus

1. ACT is an AI MEME; A16Z donated two AI MEMEs - GOAT and ACT - both have legitimacy but ACT's developer previously absconded. AI MEME is a new track; being the first on major exchanges also adds scarcity value, likely exceeding NEIRO in valuation cap at least $2 billion as a baseline figure . In the same track IO is valued at $20 billion , RENDER at $30 billion and FET at $40 billion.

2. PNUT is Musk’s political internet celebrity squirrel belonging to Zoo+Political MEME category . PNUT has been listed on major exchanges which generally tend more towards pumping exclusive coins.

3. The DOGE meme saw a huge increase in value reaching a market capitalization of nearly half that of SOL ($50 Billion). DOGE represents Musk concept +BTC Meme . Over the past month ,the top gainer on exchanges was DOGE with an increase of 220% followed by RAY with an increase of 180%. Other new memes like NEIRO and MOODENG had their funding heat diverted by newly listed ACT and PNUT showing how quickly Memes can change.

4. AI related tokens such as IO,WLD ,RENDER ,GRASS etc followed suit driven by leading token in AI sector ACT.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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