Gate Daily (November 24): "Rich Dad Poor Dad" author sells $2.25 million worth of Bitcoin; MicroStrategy calls for boycott of JPMorgan Chase

Bitcoin (BTC) saw a slight rebound from the weekend slump, temporarily trading at around $86,990 on November 24. MicroStrategy may be excluded from the MSCI index, prompting Bitcoin supporters to call for a boycott of JPMorgan. Bloomberg analysts warn that Zcash could lead to a “split vote” for Bitcoin. “Rich Dad Poor Dad” author Robert Kiyosaki revealed he sold $2.25 million worth of Bitcoin at the $90,000 price point.

Macro Events & Crypto Highlights

1. The community and supporters of MicroStrategy (MSTR), the world’s largest Bitcoin fund manager, called for a boycott of financial services giant JPMorgan on Sunday. Earlier reports suggested that MSCI (the creator of many major equity market benchmark indices) might remove the crypto treasury firm from its indices in January 2026, sparking a strong backlash. “I just pulled $20 million out of Chase Bank and sued them for credit card violations,” said real estate investor and Bitcoin advocate Grant Cardone, lending support to the boycott.

2. Bloomberg Senior ETF Analyst Eric Balchunas warned that Zcash could negatively impact Bitcoin at this key moment. He said Zcash “feels like a third-party candidate, like Gary Johnson or Jill Stein,” arguing that pushing a separate privacy coin could “split the vote” when Bitcoin needs unified political and cultural support.

3. “Rich Dad Poor Dad” author Robert Kiyosaki revealed he sold $2.25 million worth of Bitcoin at the $90,000 price and is using the proceeds to invest in physical assets to create new, stable cash flows. He also stated he will continue to buy Bitcoin with his new cash flow.

News Updates

1. Aster: Will fully compensate affected users due to XAUUSDT market price deviation caused by incorrect gold price feed

2. 1inch team address withdrew 20 million 1INCH from CEX in the past 14 hours

3. US Office of Government Efficiency has been dissolved

4. Video sharing platform Rumble launches BTC, XAUT, and USDT tipping features; Rumble Wallet officially goes live

5. Data: XPL, WCT, SAHARA, and other tokens will see large unlocks next week, with XPL unlock valued at about $18.1 million

6. US Treasury Secretary Besant: Government shutdown caused a permanent $11 billion hit to US GDP

7. Michael Saylor posted “will not yield,” hinting at further Bitcoin accumulation

8. Michael Saylor “HODL this week?” poll results: 77.8% voted not to sell

9. ProCap CIO: Large open interest in Bitcoin put options at the end of December, implied volatility returning to pre-ETF launch levels

Market Overview

1. Latest on Bitcoin: $BTC Slight rebound from weekend slump, currently around $86,990. In the past 24 hours, $90 million in liquidations, mainly short positions;

2. Investors increased bets on a Fed rate cut in December, and after a sharp drop, major US stock indices closed higher on November 21, with all 11 S&P sectors in the green. Rumors that the Trump administration may approve NVIDIA’s sale of H200 AI chips to China briefly boosted Nvidia shares, but they closed down 0.97%. Amid concerns over tech stock overvaluation, last week the Dow fell 1.9%, S&P dropped 2%, Nasdaq slid 2.7%, and the Philadelphia Semiconductor Index plunged 5.54%. Notably, the Nasdaq has declined for three consecutive weeks, marking the longest weekly slide since March this year, and is currently down 7% from its October high.

(Source: Gate)

3. On the Gate BTC/USDT liquidation map, at the current $86,721.20 USDT, if the price drops to around $86,475, cumulative long liquidations will exceed $54 million; if it rises to around $88,193, cumulative short liquidations will exceed $177 million. Short liquidation amounts are significantly higher than longs; it is advisable to manage leverage prudently to avoid triggering large-scale liquidations during market fluctuations.

(Source: Coinglass)

4. In the past 24 hours, BTC spot inflows were $2.32 billion, outflows were $1.99 billion, for a net outflow of $330 million.

(Source: Coinglass)

5. In the past 24 hours, contract trading net outflows led by $ETH, $SOL, $ZEC, $PIPPIN, $BCH , indicating trading opportunities.

X KOL Selected Insights

Phyrex Ni (@Phyrex_Ni): “As expected, after Williams’ speech US stocks rebounded, VIX dropped sharply, and investor sentiment eased. Even during the weekend, when liquidity is extremely low, $BTC still managed a small rebound. Although buying power remains weak, at least the slide has temporarily stopped. If the market had continued falling over the weekend, who knows where it would have landed. The main issue now is concern over the Fed—not just whether rates will be cut in December, but worry that the Fed’s ‘dragging its feet’ could push the US into recession. Rising corporate bankruptcies and unemployment all suggest possible risks. Fortunately, Nvidia’s earnings show the AI bubble can hold up a while longer.”

“A December rate cut is a signal the Fed doesn’t want to let the US slide into a downturn—even if it’s a last-minute fix, they’ll do it. But if the Fed maintains high rates and only cuts twice in 2026 as projected, that’s a big threat to the market.”

“Back to Bitcoin data: turnover remains high today, probably because many investors see the rebound as a last exit opportunity. You can see some loss-making investors reducing positions, especially those who bottom-fished in recent days, who are reducing positions whether they’re up or down. Next, watch how US stocks react on Monday. Although turnover is high, it hasn’t significantly affected $BTC ’s position structure. The two loss-making support levels still show no signs of collapse, especially the $112,000 level, where over 570,000 BTC are clustered—something I didn’t expect.”

Today’s Outlook

1. Germany November IFO Business Climate Index, previous value 88.4

2. Japan market closed for Labor Thanksgiving Day

3. US Treasury futures contracts under Thanksgiving holiday start trading at 15:00 Beijing time