🌐 Global Market Capitalization: $3.1T, generally rising, with significant recovery in the total market capitalization of the cryptocurrency market.
📶 Market Sentiment: Fear and Greed Index at 20, Risk Appetite Rebounds. Investor expectations for the Federal Reserve's interest rate cut are driving improvements in market sentiment.
💸 Capital and Liquidation
In the past 24 hours, the market rebound led to a large amount of short positions being liquidated.
Total Liquidation Amount: Total liquidation amount across the network is $294 million (approximately $276 million).
Long and Short Distribution: Shorts (bearish) suffered more severely, with short liquidations at $221 million (approximately $197 million); long liquidations at $73.25 million (approximately $7.9 million).
Major Cryptocurrencies: BTC liquidation total of $123 million, ETH liquidation total of $43.13 million.
BTC Spot Capital Flow: No relevant data provided in search results.
🔥 Today's Focus
The cryptocurrency market generally rebounded: Bitcoin broke through $91,000, rising 4.23% in 24 hours. Ethereum returned above $3,000, rising 3.12% in 24 hours.
Expectations for a Federal Reserve interest rate cut in December are soaring: JPMorgan economists revised their forecasts, believing the Federal Reserve will initiate a rate cut in December. The market's expected probability for a rate cut remains at around 85%.
U.S. economic data strong: The number of initial jobless claims in the U.S. for the week ending November 22 recorded 216,000, a new low since April 2025. U.S. September core capital goods orders far exceeded expectations.
The Bank of Japan signals a rate hike: Sources reveal that the Bank of Japan is preparing for a rate hike as early as December.
📊 Mainstream Cryptocurrency Performance
₿ BTC: $91,397.80 (24H +4.23%)
Ξ ETH: $3,041.97 (24H +3.12%)
◎ SOL: $143.19 (24H +2.79%)
⚪ BNB: $898.84 (24H +3.83%)
🌟 Sectors and Hot Projects
RWA (Real World Assets) Sector: Outstanding performance, overall sector increased by 4.11%. Among them, Pendle (PENDLE) rose by 8.96%, Sky (SKY) rose by 7.67%, Ondo Finance (ONDO) rose by 3.54%.
Layer 2 Sector: Overall sector increased by 4.04%. Merlin Chain (MERL) leads with a significant surge of 117.78% (approximately 127.09%), mainly driven by news of its upcoming mainnet upgrade.
PayFi Sector: Overall sector increased by 0.93%. Dash (DASH) performed strongly, rising by 12.57% (approximately 17.41%), influenced by its listing on the OKX spot platform.
Other Outstanding Cryptocurrencies:
Kaspa (KAS): Increased by 14.53% (approximately 15.43%), recently breaking through key resistance levels, with market capitalization continuously rising.
SPX6900 (SPX): Increased by 12.3% (approximately 12.93%), continuing the previous strong upward momentum.
🌍 Macro and Regulatory Dynamics
Federal Reserve Beige Book: Shows that economic activity has generally remained stable in recent weeks, consumer spending has further declined, and some respondents warn of increasing risks of economic slowdown in the coming months.
China's central bank liquidity operations: No liquidity operation information from the People's Bank of China on November 27, 2025, provided in search results.
S&P Global lowers USDT stability rating: No relevant information provided in search results.
The U.S. extends tariff exemptions for China: No relevant information provided in search results.
🐌 Market Insights
On November 27, the cryptocurrency market welcomed a general rebound driven by soaring expectations of a Federal Reserve interest rate cut and some positive economic data, with Bitcoin regaining $90,000 and Ethereum also returning above $3,000.
In terms of funding, a large amount of short covering is an important factor driving price increases. In terms of sectors, RWA and Layer 2 sectors performed outstandingly, showing that the market is actively seeking structural opportunities amid the rebound.
In the short term, the Federal Reserve's monetary policy expectations remain the main driving force in the market. Investors are closely watching the final outcome of the December interest rate decision and the performance of more economic data.
