Overview of Key Information in the Cryptocurrency World on November 27

1. Bitcoin Price Trends

In the early morning of November 27, Bitcoin retreated to a low of $90,791 and is now rebounding, fluctuating around $92,700.

2. U.S. Regulatory Direction

The Trump administration plans to have the CFTC lead the regulation of digital assets, expanding its powers to regulate market development.

3. Brazilian Reserve Plan

A Brazilian lawmaker has proposed the establishment of a national strategic Bitcoin reserve, known as the "Sovereign Bitcoin Strategic Reserve", aimed at diversifying the assets of the national treasury.

4. Bitcoin L2 Projects

Since 2018, Bitcoin L2 projects have seen significant development, with the number increasing approximately sevenfold compared to 2021 (from 10 to 75), receiving $447 million in investments, and changing the utility of BTC.

5. Impact on Bitcoin Price

Analysts at Standard Chartered Bank state that the short-term bottom for Bitcoin is in the range of $85,000 - $88,700. Increased confidence in U.S. Treasury bonds may diminish its appeal and lead to a price drop.

6. Federal Reserve Interest Rate Expectations

As of December, the probability of the Federal Reserve keeping interest rates unchanged is 37.2%, while the probability of a 25 basis point cut is 62.8%; in January next year, the probability of keeping rates unchanged is 28.4%, and the probabilities of a 25 and 50 basis point cut are 56.8% and 14.8%, respectively. Changes in these rates will impact the cryptocurrency and financial markets.

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