Metaplanet Will Raise $135M To Buy More Bitcoin While It’s on Sale; Sparking Interest in Singapore Crypto Market
Singapore-based investment firm Metaplanet is moving ahead with plans to raise $135 million to buy more Bitcoin, marking one of the most decisive institutional moves in Asia’s crypto market this year. The company believes the current market presents a strong buying window, and its strategy signals growing confidence among both institutional and retail investors in Singapore. Metaplanet Steps In as Bitcoin Pulls Back Metaplanet’s decision comes at a time when Bitcoin has seen notable price swings. Instead of discouraging buyers, this volatility is attracting firms looking for long-term exposure. Metaplanet’s plan reflects a belief that accumulating Bitcoin during market dips could provide strong returns when prices recover. The company has been expanding its digital asset holdings throughout the year, but this planned $135 million raise is its most aggressive move yet. It also reinforces a growing trend: institutions now view Bitcoin as more than a speculative trade. Many see it as a store of value, a hedge against currency weakness, and a diversification option in traditional portfolios. Crypto Adoption Surges Among Singaporeans Institutional interest isn’t the only force shaping Singapore’s crypto landscape. Retail participation is rising rapidly. New data shows that 61% of Singaporean retail investors now own some form of cryptocurrency, a significant jump from previous years. This growth is driven by several factors: Investors are becoming more comfortable buying and holding digital assets, especially Bitcoin. Many are not chasing quick profits; instead, they are using crypto as part of long-term financial planning. Why Bitcoin Still Appeals to Investors Despite its price fluctuations, Bitcoin continues to attract buyers who believe the asset is undervalued during market pullbacks. Metaplanet’s latest move highlights the resilience of this belief. Investors point to several advantages: The combination of institutional buying and growing retail interest is helping the market stabilize even during corrections. As demand strengthens, analysts expect prices to become less sensitive to short-term volatility. A Boost for Singapore’s Position as a Crypto Hub Singapore’s reputation as a leading Asian crypto hub continues to grow. The presence of strict but clear regulations, along with strong investor participation, makes it a preferred destination for crypto companies and high-net-worth investors. Metaplanet’s large-scale Bitcoin plan is another sign that confidence in Singapore’s digital asset environment remains strong. As more companies follow similar strategies, the country will likely attract more global players looking for a stable environment to invest in crypto. What Investors Should Watch Market experts say that timing and regulation remain key factors for anyone monitoring Singapore’s growing crypto sector. With institutional players taking bold steps and retail investors showing increasing interest, the crypto market in Singapore is becoming more influential in shaping regional trends. Investors are advised to watch: Metaplanet’s decision to raise $135 million to buy Bitcoin could set off a wave of similar moves across Asia. As more investors—both large and small—embrace digital assets, Singapore’s role as a central crypto hub is likely to strengthen even further.
Peter Brandt Says Bitcoin Reaching $200K May Take Until Q3 2029
Veteran trader Peter Brandt has poured cold water on hopes for a fast rebound in Bitcoin, warning that the world’s largest cryptocurrency may not reach the long-anticipated $200,000 mark until the third quarter of 2029. His remarks arrive at a tense moment for the market, with Bitcoin sliding from its October all-time high and fears of deeper downside spreading among traders. A Longer Road to $200K Than Many Expected Brandt, known for his decades of chart-based trading and accurate macro calls, said in an X post that Bitcoin’s next major bull market is underway — but will unfold more slowly than many industry leaders predict. “The next bull market in Bitcoin should take us to $200,000 or so. That should be in around Q3 2029,” he wrote, adding that he remains a long-term believer in Bitcoin’s upside. His projected timeline sharply contrasts with the forecasts of high-profile Bitcoin advocates such as Arthur Hayes and Tom Lee, both of whom reiterated as recently as October that Bitcoin could still reach $200,000 by year-end. Coinbase CEO Brian Armstrong and ARK Invest’s Cathie Wood have gone even further, predicting that Bitcoin could hit $1 million by 2030 — just a quarter after Brandt’s $200K timeline. Brandt’s conservative outlook stands out, especially at a time when several crypto executives have doubled down on ultra-bullish long-term scenarios. A “Healthy Reset” After a Sharp Market Pullback Bitcoin surged to a new all-time high of $125,100 on October 5, but the rally quickly reversed. The asset has since fallen to the mid $80,000 range, briefly touching $86,870 and, at one point this week, dipping as low as $88,000. Panic selling pushed 24-hour volume up more than 38%, while the broader crypto market lost its footing above the $3 trillion mark. Despite the turmoil, Brandt sees the correction as not only normal — but necessary. “This dumping is the best thing that could happen to Bitcoin,” he said, describing the decline as a market “reset” that clears speculative excess and sets the stage for healthier long-term growth. His view aligns with analysts who point out that Bitcoin’s strongest long-term rallies often follow periods of steep, emotionally driven pullbacks. Warning of a Potential Drop to $58K Before the Next Surge Brandt has also issued a short-term warning: a deeper crash may still be ahead before Bitcoin begins its march toward $200,000. According to him, Bitcoin is tracking its typical four-year cycle pattern, including a confirmed death cross — a technical signal where the short-term moving average falls below the long-term average, hinting at weakening momentum. Brandt identifies two major support levels: He believes the latter could be tested if selling pressure accelerates, especially as whales and long-term holders continue taking profits from the October peak. Most traders, he warns, will be too fearful to buy when those levels arrive. Supporting this outlook, data from 10x Research and CryptoQuant suggests Bitcoin has entered a broader bear phase. The historically crucial 200-week moving average currently sits near $56,000, closely aligning with Brandt’s lower target. Still Bullish in the Long Run Despite sounding the alarm on short-term downside, Brandt remains firmly bullish on Bitcoin’s long-term potential. He disclosed that he continues to hold 40% of his largest-ever Bitcoin position — purchased at a price roughly “1/20th of Michael Saylor’s average buy.” His confidence stems from Bitcoin’s history of cyclical crashes followed by exponential rallies. Brandt previously compared the current chart structure to the soybean market of the 1970s, which experienced a similar parabolic rise and a 50% crash before resuming its long-term trend. Other analysts, such as Charles Edwards of Capriole Investments, have also flagged unprecedented levels of institutional selling relative to Coinbase’s total volume — a sign that large entities are dominating current market flows. Why Patience Matters for Investors Brandt’s latest forecast may disappoint traders hoping for a quick rebound to six-figure territory. But to him, Bitcoin’s path is defined by long, grinding corrections followed by explosive growth — not rapid moonshots driven by short-term hype. His message is simple: long-term investors have always fared best when they ignore panic cycles and focus on major trend shifts. As the market grapples with macro uncertainty—including concerns about U.S. Federal Reserve rate cuts, sticky inflation, and unusually high equity valuations—Bitcoin’s volatility may persist. Yet Brandt argues that these painful stretches often precede some of Bitcoin’s strongest rallies. For now, the veteran trader believes Bitcoin’s next major milestone is coming—just not as soon as many expect.
ETFs: Blackrock’s IBIT Led November’s Bitcoin ETF Bleed, Driving $2.47B in Outflows on Its Own
BlackRock’s iShares Bitcoin Trust (IBIT) has taken center stage in one of the harshest months the Bitcoin ETF market has seen since U.S. spot ETFs launched in early 2024. In November, IBIT alone was responsible for $2.47 billion in withdrawals, accounting for 63% of the month’s total $3.79 billion in withdrawals—surpassing February’s previous outflow record of $3.56 billion. The exit wave marked a sharp break from the steady inflows that had defined much of the year. What started as a promising chapter for institutional Bitcoin adoption quickly turned into a month dominated by redemptions, hesitation, and a retreat that caught many investors off guard. Key Takeaways A Reversal That Hit Fast Just weeks earlier, Bitcoin ETFs appeared steady after a long stretch of inflows and institutional enthusiasm. But November disrupted that narrative. After briefly breaking a five-day outflow streak with $75.4 million in inflows on Wednesday, U.S. spot Bitcoin ETFs faced $903 million in redemptions on Thursday, marking the biggest single outflow day of the month and one of the largest since ETF trading began in January 2024. IBIT was the main driver. The fund’s $1.02 billion in withdrawals this week alone marked what CryptoQuant CEO Ki Young Ju called IBIT’s “largest weekly outflow ever.” Fidelity’s Wise Origin Bitcoin Fund (FBTC) followed with a still-substantial $1.09 billion in outflows this month. Together, IBIT and FBTC made up a staggering 91% of all U.S. spot Bitcoin ETF redemptions in November. Market Sentiment Shifts Despite Bitcoin’s Stability What makes the month’s performance surprising is that it occurred despite Bitcoin’s relatively stable price action early in November. ETFs had largely been treated as a reliable access point for institutions, offering an easier gateway into Bitcoin than direct token purchases. Yet the sudden change in flows shows how quickly sentiment can turn. Analysts suggest institutional investors may have reduced risk or rebalanced portfolios ahead of year-end positioning. ETF vehicles, used heavily for tactical exposure, often reflect these short-term shifts. November’s severe outflow doesn’t necessarily indicate long-term pessimism. Instead, it highlights how ETF demand can fluctuate sharply even when broader market optimism remains intact. But the scale of the withdrawals shows just how influential a single large issuer like BlackRock can be when the tide turns. Price Reaction and Market Warnings Following Thursday’s near $1 billion ETF exodus, Bitcoin fell to $83,461, its lowest level since April—a seven-month low, according to CoinGecko. The drop renewed warnings from several industry voices that the current downturn may not be finished. Alliance DAO co-founder QwQiao reiterated a caution he first shared in September, arguing that a large portion of new ETF-driven capital is “dumb money,” adding: “There’s a large cohort of dumb money who know nothing about crypto buying DATs and ETFs. This never ends well.” He suggested markets may need to endure another 50% correction before forming a more durable bottom. What Comes Next for Bitcoin ETFs? While November’s record-setting outflows look severe, many analysts are urging caution before drawing conclusions about long-term sentiment. Institutional investors often reduce exposure late in the year as part of routine rebalancing, and ETFs—especially recently launched ones—are sensitive to tactical shifts. Still, the month is a wake-up call. It underscores that Bitcoin ETFs, despite their regulated structure, remain tied closely to the volatility and emotional swings of the broader crypto ecosystem. If outflows continue into December, concerns about sustained risk-off positioning will likely grow louder. For now, all eyes remain on whether U.S. spot Bitcoin ETFs—led by giants like BlackRock and Fidelity—can regain stability after a historic month that erased billions and rattled market confidence.