Crypto Circle Early Insights November 25
Every morning at 8 AM, get to know the happenings in the crypto world!
First, let's focus on the macro aspects:
- The Federal Reserve's December rate cut is once again seen as a high probability event by the market, as New York Fed President Williams's remarks last week were interpreted as a unified tone from the top, driving rate cut expectations from below 30% to over 67%.
- South Korea's originally planned taxation policy on virtual assets, set to be implemented in 2027, may face its fourth delay due to the unclear taxation scope regarding airdrops, staking, and overseas transactions.
Now, let's look at market hotspots:
- The market fear and greed index is at 12, still indicating extreme fear.
- Citibank pointed out that for every $1 billion that flows out of Bitcoin ETFs, the price of Bitcoin will drop by about 3.4%, and in November, outflows have reached $3.5 billion, putting pressure on the market.
- Bloomberg's senior commodity strategist warned that if the macro environment worsens, Bitcoin could fall from its peak to $50,000 by 2026, as investors may avoid high-risk assets amid stock market volatility.
Finally, let's check on industry dynamics:
- Franklin Templeton's XRP ETF has received listing approval from the NYSE Arca, trading under the symbol XRPZ, with a fee rate of 0.19%, and will waive fees on the first $5 billion of assets until May 2026.
- Several Wall Street institutions actively reduced their exposure to MicroStrategy in the third quarter, cumulatively divesting about $5.4 billion, indicating that funds are shifting from the old model of “MSTR proxy Bitcoin” to more direct spot ETFs and custody channels.
Today's summary:
The market remains in a bearish sentiment, but the true winners are often those who quietly position themselves at the lows.
I am host Mark, this is "Crypto Circle Early Insights", see you tomorrow!
