News & Research

Berachain (BERA) has refuted a report that it offered preferential investment refund terms to Brevan Howard. The denial follows an Unchained article claiming that Brevan Howard's 2024 investment agreement included a clause allowing for a refund within one year of the BERA token launch. In a post on X, anonymous Berachain founder Smokey The Bera stated that Brevan Howard led the Series B round about 1.5 years ago through its Abu Dhabi-based Nova fund under the same conditions as all other investors. The founder explained that a side letter for Nova's $25 million investment does grant the right to request a refund one year after the Token Generation Event (TGE). However, this was described as a measure to allow the fund to recover its principal if the token price falls significantly below its $3 investment price. The founder added that this was not a special privilege for risk avoidance but a mutual agreement related to the fund's operating rules and liquidity provision obligations.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - Bitcoin (BTC): $123 million liquidated (66.42% short) - Ethereum (ETH): $78.67 million liquidated (71.46% short) - Solana (SOL): $33.60 million liquidated (84.96% short)

According to a CoinNess market analysis, the price of USDC on the South Korean crypto exchange Bithumb experienced a flash spike to 6,120 won (approximately $4.43) at around 1:08 a.m. UTC. The price has since stabilized and is currently trading near 1,503 won ($1.09).

The Bitcoin mining industry is facing pressure from falling BTC prices and intensifying network competition, Cointelegraph reported. Worsening profitability has extended the payback period for mining equipment to over 1,200 days, while many firms have seen a decline in hashprice, a metric for mining revenue per unit of computing power. In response, some miners are diversifying into artificial intelligence and high-performance computing (HPC), though these efforts have yet to yield tangible results. Despite the profitability challenges, the media outlet noted that shares of some companies, including CleanSpark (CLSK), Cipher Mining (CIFR), and IREN (IREN), have risen on expectations for their new business ventures.

Traders on the prediction market Kalshi are now pricing in an 80% probability of a Federal Reserve rate cut in December, Walter Bloomberg reported. This figure is up from under 45% last week.

According to Bloomberg ETF analyst Eric Balchunas, short positions in BlackRock's Bitcoin ETF (IBIT) have dropped sharply, returning to levels seen in April before the recent market rally. Balchunas noted that while short interest was never high, at only 2% of outstanding shares, the recent steep decline is noteworthy. He added that investors tend to short in bull markets and buy during downturns.

On-chain analyst Ali Martinez has noted that a death cross has occurred on Bitcoin's daily chart, signaling a potential drop to as low as $52,820. He explained that the 50-day exponential moving average (EMA) has crossed below the 200-day EMA, indicating a clear shift into a bearish trend. Martinez added that the 50-week moving average on the weekly chart has also been breached, a pattern he described as similar to the initial phases of past bear markets. Should Bitcoin continue to decline, he identified key support levels at $75,740, $56,160, and $52,820.

The South Korean crypto exchange Upbit announced it will list Monad (MON) on its BTC, USDT, and KRW trading pairs at 3:00 p.m. UTC on Nov. 24.

The BTC perpetual futures long–short ratio over the past 24 hours on the world’s three largest crypto futures exchanges by open interest is as follows: - Overall: Long 47.77%, Short 52.23% - Binance: Long 48.97%, Short 51.03% - Bybit: Long 48.03%, Short 51.97% - Gate.io: Long 50.12%, Short 49.88%

The total Ethereum holdings of companies with a dedicated accumulation strategy have surpassed the amount held by spot ETH ETFs, according to data from Strategic ETH Reserve. The data shows that 68 such companies now hold approximately 6.29 million ETH, valued at $17.77 billion. This figure exceeds the 6.23 million ETH, worth $17.57 billion, held by spot ETFs. The largest corporate holders by volume are Bitmine (BMNR), Sharplink Gaming (SBET), and The Ether Machine.