Bitcoin rebounded above $96,500 before falling back to around $95,700. Dogecoin's daily increase surpassed 8%, and the first Dogecoin exchange-traded product (ETP) announced its listing in Northern Europe. Bloomberg cited sources revealing that President-elect Donald Trump's transition team has interviewed senior financial regulators, including conservative financial influencer Paul Atkins, as a candidate for the chairman of the SEC.
FedWatch: December rate cut probability rises to 68%
Following the economic data released on Wednesday, the CME's Fed Watch tool shows that the market's expectation for a 25 basis point rate cut in December has risen from about 66.6% the previous day to the current 68.2%, while the probability of pausing rate cuts has fallen to 31.8%. Meanwhile, the market and institutions generally predict that the Federal Reserve will slow its pace of rate cuts next year. Nomura's latest forecast indicates that the Federal Reserve will pause rate cuts at the December meeting and is expected to cut rates by 25 basis points in March and June 2025; Cathay United Bank's chief economist Lin Qichao stated last week that the Federal Reserve still plans to cut rates by 25 basis points this December and again by 25 basis points in March and June next year; Deutsche Bank's chief economist Matthew Luzzetti expects that the Federal Reserve will make its last rate cut of 25 basis points this December, after which it may pause rate cuts throughout next year.
Ethereum rises over 13%, surpassing other top ten tokens
The price of Ethereum surged last night (27th) to a high of $3,684.92, marking a new high in over five months, with a single-day increase of 13.28%. It slightly retraced before the deadline, currently reported at $3,637.07. Although the near 24-hour increase narrowed to 8.83%, it remains the best-performing token among the top ten.
Ethereum open interest breaks $24 billion record high
Meanwhile, the open interest in Ethereum perpetual contracts reached $24.08 billion, hitting a record high, increasing by 33.1% over the past week, indicating that funds are continuously flowing into Ethereum. Whether it's the active participation of retail investors or the demand from institutions for hedging or neutral strategies, all have contributed to this growth. The significant rise in open interest suggests that market volatility may increase, and investors should exercise caution in risk management.
