Article source: Trading Moment
1. Market observation
Keywords: BTC, TORN, MOVE
Bitcoin (BTC) dropped below $91,000 this morning, currently reported at $92,533. CryptoQuant data shows that long-term holders have sold over 728,000 BTC in the past 30 days, putting pressure on the market for profit-taking. However, analysts at Standard Chartered Bank indicated that BTC still has upward potential after consolidating in the range of $85,000 to $88,700.
In addition, positive signals have emerged in the regulatory environment, as a US court ruled that OFAC overreached in sanctioning the Tornado Cash smart contract, causing TORN's price to react strongly with an increase of nearly 10 times. Meanwhile, traditional financial institution Pantera's Bitcoin fund has performed impressively, with a cumulative return rate exceeding 131,000%, highlighting institutional investors' recognition of Bitcoin's long-term value.
In terms of the macro environment, US stocks continue to maintain strength, with the S&P 500 index at 6,021.63 points, a year-to-date increase of 26.24%; the Nasdaq index is at 19,175.58 points, a year-to-date increase of 27.74%. Several important economic data points will be released tonight, including the core PCE price index and GDP quarterly growth rate, which may impact market sentiment.
2. Key data (as of November 27, 10:00 HKT)
S&P 500: 6,021.63 points (year-to-date +26.24%)
Nasdaq: 19,175.58 points (year-to-date +27.74%)
10-year US Treasury yield: 4.302% (year-to-date -3.34 basis points)
US Dollar Index: 106.494 (year-to-date +4.89%)
Bitcoin: $92,533.04 (year-to-date +118.93%), daily spot trading volume is $89.53 billion
Ethereum: $3,335.90 (year-to-date +46.22%), daily spot trading volume is $38.39 billion
3. ETF flows (November 26 EST)
Bitcoin ETF: Net outflow of $120.5 million
Ethereum ETF: Net outflow of $8.3 million
4. Important dates (November 27, 9:30 PM)
Core PCE price index month-on-month (previous value: 0.3%, expected: 0.3%)
GDP quarterly growth rate month-on-month (previous value: 3.0%, expected: 2.8%)
Personal income (previous value: 0.3%, expected: 0.3%)
Personal spending (previous value: 0.5%, expected: 0.4%)
5. Hot news
A US court ruled that OFAC overreached in sanctioning the Tornado Cash smart contract, TORN rose nearly 10 times
Vitalik obtained 22.89 ETH by selling meme coins and donated 320 ETH to CoinCenter
Movement Network Foundation announced MoveDrop, which will airdrop 10% MOVE tokens to the community
WalletConnect launched a WCT token eligibility check page
Standard Chartered Bank analyst: BTC may consolidate in the range of $85,000 to $88,700, then rise
CryptoQuant: Bitcoin long-term holders have sold over 728,000 BTC in the past 30 days
Kraken will shut down its NFT market and focus on other projects
Pantera Bitcoin fund yields reached a thousand-fold, with a cumulative return rate exceeding 131,000%
Uniswap Labs launches a record high $15 million bug bounty program
Starknet becomes the first Ethereum Layer-2 network to support crypto staking
Zhao Changpeng: No intention to suppress meme coin investment, only hopes to encourage more developers to participate in building
AXIOS: Trump is considering appointing a Minister of Artificial Intelligence
Binance will delist GFT, IRIS, KEY, OAX, REN
Binance HODLer airdrop launches second phase project Thena (THE), with a 1-hour increase of over 430%
80% of the supply of the JUSTICE token issued by the owner of the internet celebrity squirrel Peanut is suspected to be controlled by an internal team
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