November 27th Cryptocurrency Important News Overview
1. Bitcoin retraced to a low of $90,791 early this morning and is currently rebounding to around $92,700, fluctuating and oscillating.
2. The Trump administration is considering allowing the CFTC to lead the regulation of digital assets. The incoming Trump administration hopes to expand the powers of the Commodity Futures Trading Commission (CFTC) and grant it significant regulatory authority over the digital asset market.
3. Brazilian lawmakers officially proposed establishing a national strategic Bitcoin reserve. This plan, known as the "Bitcoin Sovereign Strategic Reserve", aims to diversify the national treasury.
4. The number of Bitcoin L2 projects has increased about 7 times compared to 2021, rising from 10 to 75. Since 2018, Bitcoin L2 has received $447 million in investment, and this trend is changing the utility of BTC.
5. Standard Chartered Bank analysts: The short-term bottom for BTC is in the range of $85,000 to $88,700. As Bitcoin is generally seen as a hedge against instability in traditional financial markets, increased confidence in U.S. Treasury bonds may weaken Bitcoin's appeal in the short term, leading to a price drop.
6. The probability of the Federal Reserve maintaining the current interest rate until December is 37.2%, with a cumulative probability of a 25 basis point rate cut at 62.8%. The probability of maintaining the current interest rate until January next year is 28.4%, with a cumulative probability of a 25 basis point cut at 56.8%, and a cumulative probability of a 50 basis point cut at 14.8%.
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