- JPMorgan Asset Management expects a 10% annualized Bitcoin return over a decade.
- Riot leased all 910MW at its Corsicana site to an AI firm for about $28 billion.
- The current Clarity Act expires on January 3, 2027, unless the Senate passes it.
The global crypto market cap rose 5.1% to $2.792 trillion over the past 24 hours.Bitcoin traded at $80,580.07, up 4.7% on the day and up 0.8% over the past week. Ethereum changed hands at $2,426.45, up 7.3% in 24 hours and up 5.1% over seven days.
BNB rose 3.5% to $715.43 but remains down 3.8% weekly. XRP gained 4.3% to $1.31, up 0.7% over the week. Solana rose 4.8% to $96.66 and is still down 3.4% over seven days. The Dow rose 3.35% on Wednesday and the S&P 500 gained 1.55%.
CoinGlass data showed $913 million in liquidations over 24 hours, with shorts accounting for $554 million and longs for $359 million. SoSoValue data showed the DePIN sector leading the rebound with a 5.79% gain.
Trending Searches
Pudgy Penguins led trending searches, up 6.0% to $0.007366. Official Trump fell 15.3% to $1.28, while Bitcoin rose 4.9% to $80,687.99. Among top gainers, Dessa surged 124.2% to $0.02063, Elsa climbed 57.1% to $0.09972 and Definitive gained 49.6% to $0.1117.
Midterms and Crypto Policy
Democrats won control of both the Senate and the House. In Ohio, Democrat Sherrod Brown defeated Republican Jon Husted. According to Molly White of Citation Needed, the crypto industry spent more than $64 million against Brown, a record for a single race. White counted crypto and AI super PACs on the losing side in 9 of 12 decided competitive races. Bryan Steil, who chairs the House digital assets subcommittee, also lost his seat.
The Digital Chamber said the current version of the Clarity Act expires when the 119th Congress ends on January 3, 2027. Eleanor Terrett reported that House Democrats are weighing a broader market structure bill that would give the SEC a larger oversight role.
Trump-Linked Assets
TRUMP fell 17.64% to $1.303 and WLFI dropped 8.14%. Trump Media shares fell 17% to a record low. Lookonchain said Trump Media moved 4,259 BTC, worth $343.67 million, to Crypto.com.
Binance Recovery and Laundering Trail
Binance said about 98% of affected assets have been backfilled. It also expanded its proof-of-reserves snapshot from 10 tokens to 44. More withdrawals will open in batches from 9:30 a.m. IST on November 5.
CZ told the Oxford Union the hack was preventable and that some employees had not followed basic operational security procedures. CoinDesk reported that the attackers are laundering funds through THORChain, and RUNE rose 10.6% to $0.637.
Institutional Moves
Grayscale’s Zach Pandl said JPMorgan Asset Management added Bitcoin to its 2027 long-term capital market assumptions. The firm forecasts a 10% annualized return for Bitcoin over the next decade, with 55% volatility.
HSBC, JPMorgan’s Kinexys, MUFG, SG-Forge and Standard Chartered launched GL1 Org, a Singapore-based nonprofit that will develop standards for tokenized markets. Canton Strategic Holdings said its tokenized shares completed the first trades under the SEC’s innovation exemption on November 4.
Riot Platforms signed a 15-year lease with a frontier AI lab for all 910MW at its Corsicana campus, valued at about $28 billion. Circle said USDC accounted for 79% of stablecoin transaction volume in Q3.
Legal and Regulatory
The Second Circuit denied Kalshi, Coinbase and the CFTC injunctions pending appeal. The ruling lets New York and Connecticut enforce their state gambling laws against prediction market products. France’s National Assembly passed an amendment requiring taxpayers to declare self-custodied crypto worth €100,000 or more.
Related: Binance Recovers 98% of $6.3B Hack Losses, Expands Reserves to 44 Token
Related: Trump-Linked Crypto Ventures Face Possible Probes as Democrats Regain Congress
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