BizwavemediaPersonal Finance and Crypto Updates

Matt Hougan, Chief Investment Officer at Bitwise Asset Management, predicts a significant surge in crypto ETFs with a focus on index-based products to meet growing investor demand for diversified exposure to digital assets.

Hougan anticipates numerous crypto ETFs will launch as US regulatory conditions improve, moving beyond single-asset products toward diversified baskets that appeal to institutional and retail investors seeking broader market exposure.

Bitwise Asset Management operates as a prominent provider of crypto index funds and ETFs, positioning itself as a key player in the expanding market for index-based crypto products that offer easy access to diversified digital assets.

Advancements in US regulatory frameworks are expected to facilitate this wave of new crypto ETF launches, with index-based products highlighted as a major growth area for the digital asset investment industry.

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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 a real-time snapshot of market sentiment. As Bitcoin continues to struggle under macro headwinds, traders are using Polymarket to hedge or express views on BTC’s near-term price action.

With risk assets broadly underperforming, markets are increasingly positioning for a potential retest of the $85K level in the coming weeks.

Stock index futures extended gains today following the release of September nonfarm payrolls data, with major benchmarks showing positive reactions to the labor market indicators.

The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average futures all moved higher as traders analyzed the jobs report. The data release provided insights into current labor market conditions that could influence Federal Reserve policy decisions.

The S&P 500 serves as a key benchmark for the US equity market, tracking large-cap companies across various sectors. The Nasdaq Composite focuses on technology and growth-oriented companies, while the Dow Jones Industrial Average monitors major blue-chip firms as a gauge for overall market health.

Market participants have shown increased sensitivity to nonfarm payrolls data in recent months, with futures contracts displaying notable reactivity to employment figures. The September report’s release comes amid ongoing economic discussions about labor market strength and monetary policy direction.

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Google’s parent company, Alphabet, surpassed Microsoft today to become the world’s third-largest company by market capitalization, marking a significant shift among leading technology firms.

The milestone comes as Google’s stock has been climbing since last Friday, when Warren Buffett’s Berkshire Hathaway disclosed a $4.9 billion stake in Alphabet. The rare tech investment marks Buffett’s first major bet on the search giant and one of the largest additions to his portfolio this year.

Alphabet’s strong search engine and advertising business continue to generate robust cash flow, giving the company scope to fund its AI ambitions.

The market cap reshuffle underscores intensifying competition among major tech firms, all battling for dominance in AI, cloud, and data‑centre infrastructure. Buffett’s endorsement offers a notable validation of Alphabet’s strategy as the tech landscape evolves.

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The cryptocurrency market experienced a sharp selloff, triggering over $250 million in liquidations in the past hour, as Bitcoin, Ethereum, and other digital assets posted sudden price drops. Bitcoin fell below $87,500 after climbing close to $92,000 earlier.

The liquidation wave primarily affected long positions in Bitcoin and Ethereum, with traders facing cascading margin calls as prices declined rapidly across major exchanges. Bitcoin, which serves as a decentralized digital currency and store of value, led the downturn alongside Ethereum, the blockchain platform that powers smart contracts and decentralized applications.

Both centralized and decentralized exchanges saw heightened liquidation activity as market volatility intensified. Long positions in the two largest cryptocurrencies proved particularly vulnerable to the selloff, contributing to overall liquidation volume.

The crypto market has seen similar liquidation events in recent weeks, with sudden price movements triggering widespread position wipeouts as leveraged traders get forced out of their holdings when prices move against them.

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The Shanghai Composite Index, China’s primary stock market benchmark, fell 1.5% during Friday’s session to reach its lowest point in a month.

The index reflects the performance of stocks traded on the Shanghai Stock Exchange and has experienced recent fluctuations influenced by unchanged central bank lending rates and mixed market sentiments.

Brokerage stocks have experienced notable fluctuations amid the recent market movements, contributing to the overall decline in the benchmark index.

The Shanghai Composite has faced pressure despite ongoing policy support and previous investor confidence in economic stimulus measures.

BlackRock’s iShares Bitcoin Trust (IBIT) recorded more than $355 million in net outflows on November 20, according to Farside Investors. Withdrawals for the week have reached approximately $964 million so far, including a record $523 million on Tuesday.

Spot Bitcoin ETFs in the US posted net outflows of around $903 million on Thursday, reversing the prior day’s inflow. IBIT, Grayscale’s GBTC, and Fidelity’s FBTC accounted for the bulk of the withdrawals.

Bitcoin climbed above $92,000 intraday but quickly reversed after US markets opened, sliding below $88,000 and extending its decline to $85,400, per CoinGecko.