Bitcoin continues to trade sideways going into the weekend as BTC looks to have established a range between 18,200 - 19,800. Resistance is still at 19,800 - 20,000, with BTC already failing twice to break past the magic 20k mark in the last week. 10 EMA support is now at 18,800, and 10 MA is at 18,500 - both acting as immediate support levels. A breakout to firmly reach new all-time highs is still likely as more and more coverage about BTC enters mainstream media, and as the crypto space welcomes more institutional investors before the year ends.

Global market cap is at $576B, while BTC's market cap is at $357B.

$3.6 billion worth of Bitcoin coaxed from long-term storage by November rally
Bitcoin’s November rally saw more than 1% of BTC’s entire supply move on-chain for the first time in at least one year

More than 1% of Bitcoin's supply moved out of long-term storage in November amidst a rally that saw price test all-time highs. According to Unchained Capital's 'hodlwaves' metric, roughly 185,600 BTC that hadn't been moved in at least 12 months were transferred on-chain, and roughly 15% of the BTC that had not been moved for five and seven years were finally transferred on-chain during the month of November. According to crypto market data aggregator Glassnode, nearly 19.6 million Bitcoin addresses were active during November, the second-highest number in Bitcoin's history, only behind December 2017's 21.6 million active wallets.

Hong Kong OTC trading firm acquires OMG Network
The venture wing of Hong Kong-based OTC trading firm Genesis Block has acquired the layer-2 Ethereum scaling solution OMG Network

Genesis Block, venture subsidiary of Hong Kong-based OTC trading firm, has reportedly acquired OMG Network. According to a Cointelegraph report, the acquisition was announced on Dec. 3. This venture is aimed at building "lending and trading platforms" for the DeFi sector, Genesis Block revealed. The firm also wants to leverage its connections across Asia's blockchain industry to accelerate the development of OMG Network.

OMG Network was launched in 2017, offering different services such as trading services, co-working space, cryptocurrency ATMs, and mining hardware.

S&P Dow Jones Indices to launch cryptocurrency indexes in 2021
S&P Dow Jones Indices, a division of financial data provider S&P Global Inc, said on Thursday that it will launch cryptocurrency indices in 2021, making it the latest major finance company to enter the nascent asset class.

Traditional finance made its latest move to incorporate crypto as the S&P Dow Jones Indices is looking to debut cryptocurrency indexes in 2021 via joint venture between S&P Global, the CME Group and News Corp. According to a press release on Thursday, S&P DJI describes Bitcoin (BTC) and altcoins as an "emerging asset class." Lukka, a US blockchain data provider, has been tapped by the firm to launch the index, which will cover around 550 cryptocurrencies. This initiative is the latest commitment of Wall Street to support Bitcoin and other digital currencies.

This Daily Dose was brought to you by SCI News Channel.

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