Week of November 4 - 10, 2025
The Central Bank of Malaysia has announced a three-year development plan to test and advance asset tokenization technology within the country’s financial system. The plan includes studying tokenized deposits and stablecoins pegged to the Malaysian ringgit, as well as exploring how to bring financial assets onto blockchain networks.
The Governor of Bank Indonesia stated that the central bank is preparing to issue digital securities backed by the digital rupiah, with government bonds (SBN) serving as collateral. The central bank refers to this as Indonesia’s own version of a “national stablecoin.”
Visa announced plans to support stablecoin payments across four blockchain networks, allowing conversions into 25 fiat currencies worldwide. The company also revealed that spending volume on cards linked to stablecoins has quadrupled year over year in the latest quarter. Since 2020, Visa has processed more than US$140 billion in crypto and stablecoin transactions.
JPMorgan reported that Circle’s USDC is growing faster than Tether’s USDT in both market capitalization and on-chain usage, driven in part by the GENIUS Act regulation. USDC’s market cap has surged from around US$43 billion in January to US$74 billion currently, marking a 72% increase, while USDT grew only 32% during the same period.
Standard Chartered forecasts that the real-world asset (RWA) market will expand from roughly US$35 billion today to US$2 trillion by 2028, representing a 5,600% increase within three years, with most transactions expected to occur on the Ethereum blockchain.
The bank also noted that if the United States and China reach an agreement to ease their trade tensions, Bitcoin’s price could surpass US$100,000. Furthermore, Standard Chartered emphasized that capital inflows through Bitcoin ETFs are a more significant driver of Bitcoin’s price than historical halving cycles.
Bitcoin (BTC) has shifted to a sideways trend after failing to break through the resistance level at US$117,000. Traders may look for potential buying opportunities as long as the price stays above US$128,000. The current movement suggests a consolidation phase before another upward push. If Bitcoin successfully breaks the first resistance, it could signal a move to retest its previous all-time high.
Ethereum (ETH) is moving sideways with support at US$3,650. Look for a buying opportunity around this level. If the support fails to hold, it’s best to pause investing for now. However, if it holds, the profit-taking target is at the US$4,250 resistance. A breakout above this level could lead to a retest of the previous all-time high.
Virtuals Protocol (VIRTUAL) gained 39.36% over the past week and continues to show an upward trend. Look for buy-on-dip opportunities if the price retraces but holds above the US$1.40 support level, aiming for short-term profit-taking at the US$1.98 resistance level, or consider holding further as the trend appears to be reversing to the upside.
Official Trump (TRUMP) gained 27.74% over the past week. Although signs of recovery are visible, a confirmed uptrend in the broader picture will only be validated if the price breaks above the US$8.77 resistance. If the price pulls back to the US$6.68 support level, it can be considered a potential buying opportunity.
The Federal Open Market Committee (FOMC) meeting resulted in a 0.25% interest rate cut, as expected, along with the end of quantitative tightening (QT) or tight monetary policy. However, the market was disappointed that the Federal Reserve Chair did not express confidence that the final meeting of the year would include another rate cut.
On the positive side, news of a potential U.S.-China trade agreement boosted overall financial market sentiment. Additionally, strong earnings reports from major tech companies helped the crypto market recover over the weekend.
Although Bitcoin (BTC) posted a 3% negative return in October 2025, a month that historically tends to deliver positive returns, November historically has been Bitcoin’s best-performing month, with an average return of 42.51%. If historical trends hold, BTC could reach US$160,000.
Altcoin ETFs have started trading, led by SOL, HBAR, and LTC, with SOL showing significant capital inflows. However, BTC ETFs and other altcoin ETFs still show net outflows.
Investment strategy: The downside for Bitcoin appears limited due to more positive than negative factors. Investors can gradually buy into the uptrend this month and accumulate large-cap altcoins in anticipation of ETF launches.
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