CMC Daily, Nov. 15: BTC Back Above $65,000!

Over the weekend, analysts had warned that Bitcoin needed to close the week above $64,800 for bullish momentum to remain. This milestone looked unlikely until late on Sunday night. With one hour to go until the deadline, BTC surged to $65,500 — later topping off at $66,127. Prices later cooled, but some analysts are now confident that Bitcoin has the chance to advance to $70,000 or $80,000. It was a big weekend for other reasons… with the Taproot upgrade coming into force on Sunday. The latest.

A charity has received one of the largest-ever cryptocurrency donations in Scottish history. Edinburgh Dog and Cat Home received 26 ETH — worth $121,784 as of Monday morning. The funds will ensure that the organization's pet food bank service can run for the whole of 2022. Pawthereum, a crypto project that supports animal welfare organizations, made the donation. The home runs a Paws Pantry that supplies pet food, collars and bedding to food banks across Scotland. Here's our story.

Jimmy Fallon has bought his very first NFT. The popular talk show host revealed he's now the proud owner of a Bored Ape. He was speaking to Beeple, the digital artist who has made tens of millions of dollars by selling non-fungible tokens. Fallon said he used MoonPay to complete the transaction — describing it as "PayPal, but for crypto." A screenshot on Twitter indicates that he's the proud owner of Bored Ape #599, one of the 10,000 in existence. Find out how much he paid for it.

Coinbase is rolling out new social trading features. A "share" button will allow customers to tell others about their strategies. Information about asset allocation can be shared, but never the actual balances in an account. Product manager Rishav Mukherji said: "Many of our customers are looking for ways to better understand crypto both as an investment and as an app platform, but it can sometimes be challenging to find relevant information at the right time." Read more here.

As expected, the U.S. Securities and Exchange Commission has rejected an application to launch an exchange-traded fund based on Bitcoin's spot price. It concluded that the VanEck Bitcoin Trust had not met the burden of proving that it is "designed to prevent fraudulent and manipulative acts and practices" and "to protect investors and the public interest." Setting out its decision, the SEC explicitly highlighted the risk of wash trading and manipulation on trading platforms. Here are the details.

Movie theater chain AMC has begun accepting Bitcoin and three other cryptocurrencies for its online ticket sales. CEO Adam Aron announced on Twitter: "Big newsflash! As promised, many new ways NOW to pay online at AMC. We proudly now accept: drumroll, please… Bitcoin, Ethereum, Bitcoin Cash, Litecoin." Apple Pay, Google Pay and PayPal are also accepted. In terms of the future direction of travel, Aron added: "Dogecoin next." Could AMC also be planning to launch NFTs? 

Crypto may be overwhelmingly young and male, but is no longer overwhelmingly white. It is, however, mainstream: 86% of American adults say they have heard at least "a little" about crypto. That's according to a new report from the highly regarded Pew Research Center, which surveyed more than 10,000 U.S. adults in September. Men were still substantially more likely to have invested in, traded, or used a cryptocurrency than women. And of course, it's a young person's game. The stats.