Bitcoin’s (BTC) price soared over 40.8% in November, breaking records for its largest monthly gain, with prices peaking at $99,000. The rally comes amid increasing investor appetite following Donald Trump’s victory in the U.S. presidential election on Nov. 5. Analysts expect the top cryptocurrency to breach the $100,000 milestone soon, supported by rising institutional interest and regulatory clarity.
Trump Media Files for Crypto Trading and Wallet Services
Trump Media has hinted at entering the crypto market with a trademark filing for “TruthFi,” which covers digital wallet services, payment processing for crypto and fiat, and trading in digital assets. The filing also mentions financial research and custody services. The move aligns with President-elect Trump’s vision to make the U.S. a “crypto capital.”
CFTC Pushes for Clearer U.S. Crypto Policies
At the North American Blockchain Summit, CFTC Commissioner Summer Mersinger advocated for notice-and-comment regulation for crypto, moving away from the current enforcement-driven approach. Mersinger criticized litigation strategies that force regulatory classifications through court rulings, emphasizing the need for clear, standardized policies.
UK Promises Comprehensive Crypto Regulation by 2025
The UK Treasury announced plans to deliver a complete crypto regulatory framework by early 2025, covering stablecoins, staking services, and cryptocurrencies. This follows a leadership change in the UK government earlier this year. Economic Secretary Tulip Siddiq emphasized a unified approach for simplicity and efficiency.
AI and Big Data Tokens See 131% Surge Amid Bitcoin Rally
The market capitalization of AI and big data tokens rose 131.4% since June, reaching $42.1 billion on Nov. 19. Leading the surge are tokens like NEAR, ICP, and RENDER, boosted by Bitcoin’s (BTC) bull run and positive investor sentiment.
DeFi Market Overview
The DeFi sector saw significant gains this week, with Mantra (OM) and Stellar (XLM) among the top performers, surging over 122% and 114%, respectively. The total value locked (TVL) in DeFi projects also saw a notable increase, reflecting renewed confidence in the sector.
Market Sentiment: Optimistic
Bitcoin’s historic gains and Trump Media’s crypto plans are fueling bullish sentiment, positioning the crypto industry for broader institutional adoption and global policy advancements.