DeFi researcher Ignas said the crypto market appears to have few new narratives capable of driving short-term gains. According to Odaily, Ignas wrote on X that although institutional adoption of crypto is continuing, traditional financial institutions can capture most of its benefits without directly buying tokens, limiting the appeal of investing in tokens as a bet on institutional adoption. He said more of the upside may accrue to stocks and private markets. Ignas said many tokens risk becoming payment tools for institutional partnerships rather than accruing value from them, potentially leaving retail holders as exit liquidity. He cited HYPE, saying the trading thesis driven by NYSE-related news may have played out; the rollout of relevant licenses and their actual effect on buybacks remain to be seen. AVAX has partnered with the NYSE, but it is uncertain how much value the exchange’s use of its core ledger technology will bring to the token. Bitcoin could rise if expectations of monetary easing emerge, Ignas said, but that may be difficult before the AI bubble bursts. A crash in the AI market could hit crypto assets first. Meanwhile, altcoin speculation is shrinking, and market hype, FOMO and project teams’ token-selling narratives are losing financial support. Ignas expects the crypto industry to persist over the medium and long term, while facing challenges including a potentially tougher stance from U.S. Democrats and rising interest rates putting pressure on risk assets. He added that the bearish view itself could be a bullish signal worth watching, as a broad desire to sell may make it a time to consider buying.

Indonesian President Prabowo Subianto accepted Vice President Gibran Rakabuming Raka’s resignation, according to people with knowledge of the matter, Bloomberg reported.

CoreWeave’s third-quarter results brought some relief to AI stocks after last week’s selloff. Its shares rose 10% in pre-market trading on Wednesday, November 11, while bitcoin held steady near $74,000. CoreWeave Raises 2026 Forecast to $13–13.3 Billion CoreWeave, which rents cloud computing capacity to AI companies, said on Tuesday that third-quarter revenue grew 168% year over year. It raised its full-year revenue forecast to $13 billion to $13.3 billion. Its net loss widened to $709 million, or $1.27 a share, driven by higher interest costs. That was a smaller loss than the $1.53 per share analysts had expected. AI Infrastructure Stocks Rally The gains spread across AI infrastructure stocks: IREN rose 6%Galaxy Digital (GLXY) rose 5%Cipher (CIFR) gained 7%Nasdaq 100 futures climbed more than 1.5% Bitcoin and Gold Hold Steady Bitcoin was little changed over 24 hours at around $74,000, and gold held near $4,000 an ounce. The Dollar Index stayed above 102 after Tuesday’s hotter-than-expected inflation report strengthened expectations for higher US interest rates. Traders priced about an 86% chance of a quarter-point Fed rate hike on December 9 and a 14% chance of a half-point move. Anthropic Considers Higher IPO Valuation Anthropic’s bankers are considering an IPO valuation of $1.5 trillion or more, the Financial Times reported, citing people familiar with the matter. That would be above Tuesday’s target of about $1.4 trillion on a fully diluted basis. Anthropic’s filed price range is $70 to $78 a share. Strategic partners including Google, Nvidia and Microsoft are set to invest $26 billion in a separate private placement at the IPO price.

Zcash (ZEC) dropped to $962.85 on Wednesday, falling below $1,000 for the first time since September. According to Cointelegraph, the token’s 13.5% decline over 24 hours, recorded as of 12:20 pm UTC Wednesday, was the steepest among the 100 largest cryptocurrencies by market capitalization, while its seven-day loss reached 24.5%. The drop came amid a wider crypto market sell-off, with Bitcoin (BTC) down 5.8% and Ether (ETH) down 11.6% over the same period, according to CoinGecko. Crypto prices fell further Tuesday after US consumer prices rose 0.4% in October from the previous month, exceeding economists’ 0.3% forecast. Zcash supports shielded payments that conceal sender and recipient addresses as well as transaction amounts from public view. The cryptocurrency helped fuel this year’s privacy coin rally, gaining 138% in the 30 days to Sept. 7. It remains the largest privacy coin by market value, representing about 60% of the $28 billion category tracked by CoinGecko, whose total market value fell about 7% over 24 hours. ZEC was trading above $1,370 as recently as Friday, when the network activated its NU7 upgrade. The update reduced the target time between blocks from 75 seconds to 25 seconds to speed up transaction confirmations, and made about 12,224 ZEC in the network’s original privacy pool unspendable. The price decline followed a pledge by Grayscale to contribute $1 million to nonprofits and projects supporting the Zcash network. Grayscale converted its Zcash Trust into a US spot exchange-traded fund that began trading on NYSE Arca on Aug. 25. The fund saw about $15 million in net outflows in November through Monday, after recording about $46 million in outflows in October, according to SoSoValue.

According to CNBC, the NRF Retail Monitor showed U.S. retail spending rose 0.2% month over month to $561.7 billion in October, its slowest monthly pace since November 2025, while increasing 3.6% year over year. The data indicated consumers were showing signs of strain from high prices even as they continued spending. Core spending, which excludes restaurants, rose 0.3% to $454.2 billion and was up 3.4% from a year earlier. The National Retail Federation said a strong Halloween season and early holiday promotions supported sales. CEO Matthew Shay said households were managing budgets carefully and retailers were offering promotions and value pricing.

According to ChainCatcher, trader Ansem said in a post on X that on-chain markets have bottomed. He said sentiment was weak but expressed confidence in a Solana-based meme coin’s potential to spread through its community. Ansem said profile-picture culture could help expand the community and a social trading app could boost attention. He described the token as his pure meme coin pick for this cycle.

暗号アナーキズムが本当に守りたいのは、トークンの価格ではなく、一般の人々が協力し、お金を稼ぎ、そして命の危険にさらされることなく抜け出せるかどうかである。

米国証券取引委員会（SEC）は、オンチェーン株式取引に対して初めて5年間の規制免除を認め、UniswapはAMM（自動マーケットメーカー）とHooksを、規制に準拠した証券取引をサポートできる取引インフラとして位置付けている。

Anthropicは11月19日にナスダックに上場し、最大900億ドルを調達する予定だが、成長率は144%から47%に低下しており、9009億ドルのコンピューティング能力への投資こそが真の賭けとなっている。

ヴィタリック氏は、ETHは価値の保存手段として考えられるべきだと主張するが、ETHが真の価値の保存手段となるには、年間純発行量、供給方針を変更できる能力、継続的なネットワークアップグレードの必要性という3つのハードルがある。

インフレ率が3.7％で停滞し、家計が消費を維持するために貯蓄に頼る割合が減り、AI関連の設備投資が負債や株式による資金調達にシフトしている状況下で、市場はこうした「安心感」をまだ十分に織り込んでいない。

米国の10月消費者物価指数（CPI）が予想を上回り、12月の利上げ確率が90%に上昇したことを受け、ビットコインは7万4000ドルを下回った。現在、仮想通貨価格に対する最も直接的な下落圧力は、金利上昇への期待感である。

ブラックロックは、大口投資家が自己管理しているBTCを現物換金によってIBIT株に変換していることを明らかにした。レンチ攻撃やハードウェアウォレットのサプライチェーンリスクが高まる中、自己管理のセキュリティに関する従来の認識は崩れつつある。

シンガポール金融管理局（MAS）は、外国の中央銀行および金融機関向けに500トンの金保管庫を開設した。また、金取引市場の拡大に伴い、2027年4月から一部の卸売金サービスに対する物品サービス税（GST）を免除する予定だ。

Appleは、ユーザーがローカルでオープンウェイトAIモデルを実行したり、複数のThunderbolt 5搭載Macを接続してメモリをプールし、より大規模なワークロードに対応できるMacアプリ「Harbor」を開発している。現在、AppleのClarisブランドでプライベートプレビュー版が提供されているこのアプリは、ユーザーデータをクラウドから切り離しつつ、ローカルでのAIセットアップを簡素化することを目指している。

StrategyがMSCI指数から除外された場合、パッシブファンドは11月30日までに15億7000万ドルから28億ドル相当のMSTRを売却するだろう。本当のリスクは、株価に対してプレミアム価格でトークンを購入するという好循環が崩れてしまうことだ。