🌐 Global Market Cap: $3.12T, total market cap of the cryptocurrency market increased by $11.2 billion, with Bitcoin holding above $90,000.
📶 Market Sentiment: The Fear and Greed Index has risen to 20, showing signs of gradual recovery in market confidence.
💸 Capital and Liquidation
In the past 24 hours, market volatility has led to more severe damage to long positions.
Total Liquidation Amount: Total liquidation amount across the network is $21.1 million.
Long and short distribution: Long positions (bullish) are more severely damaged, with long liquidations totaling $124 million; short liquidations total $86.7055 million.
Major Cryptocurrencies: Total liquidation amount for BTC is $70.7688 million (longs $36.5033 million, shorts $34.2655 million), total liquidation amount for ETH is $46.3099 million (longs $26.5592 million, shorts $19.7507 million).
BTC Spot Capital Flow: In the past 24 hours, BTC spot ETF recorded an inflow of $12.86 million.
🔥 Today's Focus
Bitcoin's high-level consolidation: Bitcoin's price is consolidating near the $90,900 level, with a slight decrease of 0.88% in 24 hours as the market enters a healthy consolidation after the Thanksgiving rise.
Expectations for a December interest rate cut by the Fed are rising: Goldman Sachs analysts point out that a rate cut at the Fed's December meeting is 'almost a foregone conclusion.' According to the CME FedWatch tool, the market's probability expectation for a rate cut in December has risen to 86.9%.
Institutional capital accelerates entry: Bitmine Immersion Technologies reports that its total asset holdings (including digital currencies, cash reserves, and risk positions) have reached $11.2 billion, showing strong institutional interest.
China's central bank reiterates its regulatory stance on virtual currencies: The People's Bank of China reaffirms its commitment to cracking down on virtual currency activities and expresses concerns about stablecoins.
📊 Mainstream Cryptocurrency Performance
₿ BTC: $90,922 (24H -0.88%)
🌟 Sectors and Hot Projects
Fan Token Sector: LAZIO stands out, significantly rising by 17.36% in 24 hours and reaching a new high for the week.
Significant corrections in multiple cryptocurrencies: Various tokens, including FF, FIS, CHR, DUSK, and EGLD, all hit new lows for the day, with declines of 13.45%, 7.55%, 6.16%, 6.67%, and 5.29%, respectively.
🌍 Macroeconomic and Regulatory Trends
The Fed's Beige Book indicates risks of economic slowdown: The Fed's Beige Book states that overall consumer spending has further declined, with some respondents warning of increased risks of economic activity slowing in the coming months.
China's central bank emphasizes the risks of virtual currencies: The People's Bank of China reiterates its commitment to crack down on virtual currency activities and expresses concerns about stablecoins.
Regulatory agencies in multiple countries focus on derivative risks: Regulatory agencies in South Africa and Abu Dhabi are strengthening their scrutiny of cryptocurrencies, especially in the derivatives sector.
🐌 Market Insights
On November 29, the cryptocurrency market entered a high-level consolidation phase after experiencing a rise during the Thanksgiving period. Bitcoin holds steady above the key support level of $90,000, with market volatility leading to significant liquidations of long positions. Meanwhile, institutional capital continues to flow in, indicating a more solid market foundation.
The high expectations for a December interest rate cut by the Fed (probability at 86.9%) and strong institutional participation provide key support for the market. However, the continued attention from regulatory agencies in various countries and significant corrections in some tokens remind investors that market risks still exist.
In the short term, everyone's attention is focused on the final interest rate decision at the December FOMC meeting (December 9-10). Technically, Bitcoin needs to effectively break through and stabilize in the resistance range of $91,800 to $92,500 to open up space for the next push towards $97,000.
