🌐 Global market capitalization: $3.10T, 24-hour trading volume $14.621 billion, Bitcoin market capitalization accounts for 56.4%.
📶 Market sentiment: Fear and greed index 15, cautious rebound. The total market capitalization of the cryptocurrency market has rebounded from a local low to $3.02 trillion, but the rebound strength is weak.
💸 Capital and liquidation
In the past 24 hours, market volatility has led to a total liquidation amount of $301 million.
Long and short distribution: Long liquidation $154 million, short liquidation $146 million. Among them, Bitcoin liquidation total $94 million, Ethereum liquidation total $63 million.
ETF fund flows: Institutional funds show divergence.
Bitcoin spot ETF: Achieved a net inflow of 807 BTC (approximately $7.022 million).
Ethereum Spot ETF: Strong performance, with a net inflow of 35,725 ETH (approximately $10.4 million) in a single day.
Solana spot ETF: Net inflow of 374,028 SOL (approximately $5.087 million).
🔥 Today's Focus
Concerns over AI bubble ease, boosting risk assets: Worries about the bubble in the AI field have subsided, driving up the stock prices of tech companies. Bitcoin, as a typical high-risk asset, rebounded, briefly testing the $90,000 level, but still remains about 30% below its recent peak.
Potential candidates for U.S. SEC chair emerge: Reports suggest that Kevin Hassett, director of the White House National Economic Council, is viewed as the most likely candidate for the next Federal Reserve Chair among Trump's advisors and allies. (Note: This information pertains to the selection of the Federal Reserve Chair, and the original mention of "SEC Chairman" may have some interpretative disputes, with the market also focused on potential changes in SEC leadership.)
Predictive market Polymarket approved by the CFTC: Polymarket has received approval from the U.S. Commodity Futures Trading Commission (CFTC) to operate fully in the U.S. as a trading platform, marking a milestone for predictive markets.
MegaETH presale halted due to technical issues: The presale of Layer2 project MegaETH was halted due to website crashes and poor technical management, and its plan to raise the funding cap to $1 billion has also been abandoned.
📊 Mainstream Cryptocurrency Performance
₿ BTC: $87,519 (hovering near $87,780, with November being one of the weakest months of the current cycle).
🌟 Sector Hotspots
Plume Network (PLUME) surges: After the South Korean exchange Upbit announced plans to list PLUME, its tokens skyrocketed nearly 55% within an hour, with trading volume increasing nearly 600% to $187 million.
Texas launches Bitcoin reserve program: Texas has announced the launch of a Bitcoin reserve program and has initially purchased $5 million worth of BlackRock's IBIT (iShares Bitcoin Trust).
Uniswap fee switch proposal progresses: The "Enable Fee Switch" proposal contract for Uniswap has been deployed to the Ethereum mainnet, ready for on-chain voting.
🌍 Macroeconomic and Regulatory Dynamics
Global stock market risk appetite rebounds: Expectations for a Federal Reserve rate cut in December have strengthened, driving U.S. stocks to continue their upward trend on Tuesday. The Nikkei 225 index rose 1.8% on the back of overnight gains in U.S. stocks.
U.S. Treasury Secretary criticizes the Fed's interest rate management mechanism.
JPMorgan applies for Bitcoin structured note product: JPMorgan has submitted an application to the U.S. SEC for a Bitcoin structured note product.
🐌 Market Insights
On November 26, the cryptocurrency market rebounded against the backdrop of easing concerns over the AI bubble, but the strength was "weakly concerning". Although Bitcoin briefly tested $90,000, the rebound lost momentum near $87,000.
The funding situation shows significant structural differentiation. The Ethereum ETF has seen substantial capital inflows, while institutional investors' willingness to enter through Bitcoin ETFs is relatively moderate. Matrixport analysis suggests that the recent rebound in Bitcoin is driven by sentiment recovery, rather than a signal of a new bull market.
In the short term, expectations for the Fed's monetary policy remain the main driver of the market. Investors are closely watching the possibility of a rate cut in December and any statements regarding a policy shift. Technically, Bitcoin needs to effectively break through and stabilize in the resistance zone of $88,200 to $91,000 to open up further upside potential.
