🌐 Global Market Cap: 3.02T, mild rebound, total cryptocurrency market cap has risen to about $3.2 trillion.
📶 Market Sentiment: Fear and Greed Index: 15, recovering from panic. The total liquidation scale across the network has significantly decreased, and market sentiment has eased compared to the extreme panic of the previous week.
💸 Funding and Liquidations
In the past 24 hours, the market rebound has led to a large number of short positions being liquidated.
Total Liquidation Amount and Number of People: Total liquidation amount across the network is $356 million, and the number of liquidated individuals has significantly decreased compared to previous days.
Long/Short Distribution: Liquidations are mainly concentrated in short positions. Short liquidations totaled $237 million, long liquidations totaled $119 million.
ETF fund flows are diverging:
Bitcoin Spot ETF: $151 million flowed out on Monday, with a total net outflow of $1.94 billion last week.
Ethereum Spot ETF: performing strongly, with $97 million inflow on Monday, achieving a second consecutive day of net inflow. Among them, BlackRock's ETHA saw an inflow of nearly $93 million.
XRP Spot ETF: the newly listed four XRP spot ETFs had a total net inflow of $164 million on the first day.
On-chain positive signals: the number of large wallet addresses holding more than 100 BTC has increased by 91 since November 11, a growth of 0.47%, while the number of small wallets is declining, which may indicate that retail panic selling is nearing its end.
🔥 Today's Focus
The cryptocurrency market is generally rebounding: Bitcoin peaked at $89,228 before retreating above $87,000; Ethereum briefly broke through $3,000; XRP rose 17% within 72 hours.
Expectations for a Federal Reserve rate cut in December have heated up significantly: according to CME's "FedWatch" tool, the market now expects an 81% probability of a 25 basis point rate cut in December. San Francisco Fed President Daly has publicly expressed support for the December rate cut.
Several altcoin spot ETFs have been listed:
The first Dogecoin (DOGE) spot ETF in the US has been listed, but there was no net inflow on the first day.
Grayscale and Franklin's XRP spot ETF officially listed for trading.
Japanese financial market volatility intensifies: the Nikkei 225 index experiences sharp fluctuations, while the Japanese cabinet approved an economic stimulus plan worth 21.3 trillion yen, raising concerns about Japan's fiscal sustainability and inflation risks.
📊 Mainstream Coins and Popular Sector Performance
Mainstream Coin Performance (data as of November 26, 0:00)
₿ BTC: $87,435 (pulling back from the weekly high, but still slightly up on the day).
Ξ ETH: $2,895 (trading in the $2900-3000 range today).
◎ SOL: $136.25.
XRP: $2.20.
Popular Sectors and Projects
Meme coin sector leads the way: average daily increase of 3.1%, Dogecoin (DOGE) rose to $0.1488.
XRP futures open interest has surged: on Tuesday, it broke through $4 billion, showing that market interest and risk exposure for this asset are rapidly recovering.
Whale Movements:
A large whale address sold over 180 million XRP for profit after the XRP price increase.
Multicoin Capital purchased AAVE tokens worth $10.94 million today.
🌍 Macroeconomic and Regulatory Dynamics
US economic data releases remain chaotic: due to the government shutdown, the September PCE data has been postponed to December 5, while the initial GDP report for the third quarter has been canceled.
China's digital finance development accelerates: The 2025 China (Beijing) Digital Finance Forum was held in Beijing, releasing a series of digital finance innovation practices and announcing the "1335" digital finance development matrix in Fengtai District, with a total cooperation signing amount exceeding 26 billion yuan.
Canada passes stablecoin regulatory framework: Canadian Parliament has passed a budget that brings stablecoins under regulatory oversight, with the Bank of Canada responsible for approval and supervision, requiring stablecoin issuers to maintain a 1:1 high-quality reserve and meet strict disclosure standards.
Japan's Financial Services Agency plans to formulate new regulations: it plans to require cryptocurrency exchanges to establish responsibility reserves to enhance investor protection.
🐌 Market Insights
On November 25, the market continued its rebound amid significantly strengthened expectations of a Federal Reserve rate cut, with panic sentiment further alleviated.
The funding situation shows significant structural differentiation. Although Bitcoin ETFs are still experiencing net outflows, Ethereum ETFs and the emerging XRP ETF have seen considerable inflows, indicating that institutional investor interest may be spreading to mainstream altcoins. The surge in XRP futures open interest also confirms this.
Technically, Bitcoin is finding support around $87,000, but the key resistance level above is $90,000. Analyst Michael van de Poppe pointed out that Bitcoin needs to clear multiple resistance zones above for market sentiment to truly shift, with the ideal path being stability and consolidation at this level, attempting a breakout on Wednesday night or Thursday.
In the short term, the core driving logic of the market remains the expectations for the Federal Reserve's monetary policy. Ahead of the December meeting, any comments on economic data (such as PPI, retail sales) and statements from Fed officials will trigger market volatility. Investors should pay attention to whether capital flows continue to improve and whether Bitcoin can effectively break through the $90,000 mark.
