I. Crypto Market Overview

Key Takeaways

1.

Macro Environment

The US government shutdown has delayed key inflation data, increasing uncertainty for Fed policy and market volatility. Japan's $135.5B stimulus weakened the yen and boosted crypto demand, while Singapore's upgraded GDP forecast signals Asian economic resilience. Regulatory clarity is improving, with the SEC advocating market-driven crypto rules.
2.

Crypto Market

The crypto market saw mixed performance over the past 12 hours, with Bitcoin (BTC) down 9.35% to $83,192 and Ethereum (ETH) down 10.1% to $2,720, pressured by ETF outflows and risk-off sentiment. Altcoins broadly declined, but DoubleZero942Z (+17.26%), World Liberty Financial (+10.28%), and Bitcoin Cash (+9.29%) outperformed, driven by speculative trading and rotation into large-cap alternatives.
3.

Today's Outlook

No major macroeconomic or crypto-specific events are scheduled for today, but traders are closely watching for upcoming US GDP and inflation data releases next week, which are expected to drive volatility and set the tone for risk assets.
Fear and Greed Index
88.00% Annual Percentile
11 Fear
Total Crypto Market Cap
$2.89T
3.15%
Total Market Trading Volume
$260.11B
25.68%
Altcoin Season Index
0.00%
Quarterly Percentile
25 / 100
Total Futures Market Open Interest
4.36B
0.86%
Futures
765.15B
9.96%
Perpetuals

II. Industry Updates

Macro-economic Policies

1.

The US Bureau of Labor Statistics has canceled the October CPI release due to the government shutdown, creating a data gap that increases uncertainty for the Federal Reserve's upcoming rate decision. This lack of inflation data has heightened volatility in both traditional and crypto markets, with traders relying more on private indicators to anticipate Fed policy, directly impacting Bitcoin and DeFi liquidity.

2.

Dovish remarks from Federal Reserve officials, including New York Fed President John Williams, have sharply increased market expectations for a December rate cut. This policy shift triggered a strong rebound in US equities and a $3,000 surge in Bitcoin, as lower interest rate prospects boost risk appetite and support crypto asset inflows.

3.

Bitcoin and Ethereum ETFs reached a record $11.5 billion in daily trading volume, driven by institutional activity and market volatility following macroeconomic policy shifts. Despite this, Bitcoin ETFs saw $3.79 billion in outflows in November, while altcoin ETFs like Solana reported net inflows, reflecting changing investor strategies amid evolving monetary policy.

4.

Japan approved a $135.5 billion stimulus package, its largest since the pandemic, aiming to counteract economic contraction and persistent inflation. The move weakened the yen and increased demand for crypto assets, as liquidity injections and currency depreciation historically drive Japanese investors toward Bitcoin and other digital assets.

5.

Singapore raised its annual GDP growth forecast after a stronger-than-expected Q3, signaling resilience in Asian markets. This economic strength is seen as a positive macro backdrop for crypto, potentially increasing regional trading volumes and supporting bullish sentiment in Bitcoin and Ethereum pairs.

Cryptocurrency Regulatory Trends

1.

SEC Director Jamie Selway has urged for clearer, market-driven crypto regulations, emphasizing industry engagement to restore trust and support U.S. digital asset leadership. This shift may boost investor confidence and encourage institutional participation.

2.

The UK's National Crime Agency seized $32.6M in crypto and cash, arresting 128 people in a crackdown on Russian sanctions evasion. This highlights intensified enforcement and could increase compliance pressure on crypto platforms.

3.

Brazil is considering applying a financial operations tax to stablecoin cross-border payments, treating them as foreign currency transactions. This move may raise costs for stablecoin users and impact adoption in Latin America's largest market.

4.

Coinbase Derivatives will launch 24/7 futures for major altcoins under CFTC oversight, expanding regulated crypto derivatives access. This regulatory development may attract more institutional and retail traders to compliant platforms.

Trending Tokens

1.

DoubleZero942Z (942Z): The token surged 17.26% in 24h with $190M volume, but no specific news or event was found to explain the sharp gain; likely driven by speculative trading or whale activity.

2.

World Liberty Financial (WLFI): WLFI rose 10.28% in 24h with $377M volume; no major news or protocol update identified, suggesting the move is fueled by market momentum and high Solana ecosystem activity.

3.

Bitcoin Cash (BCH): BCH gained 9.29% in 24h, reaching $530 with $957M volume, supported by strong trading interest as a major altcoin during the current market volatility and rotation into large-cap alternatives.

Smart Money Movements

1.

BlackRock deposited 4,198 BTC ($348M) and 43,237 ETH ($117M) to Coinbase, signaling major institutional movement in both Bitcoin and Ethereum.

2.

A dormant whale opened a 20x long Bitcoin position worth $31.04M, with a liquidation price near $78,900 and a floating profit of $127,400.

3.

Cardone Capital acquired 185 BTC at $82,500 each, totaling $15.26M, reflecting continued institutional accumulation during the recent Bitcoin dip.

4.

Citron Research profited by going long Bitcoin and short MicroStrategy; MSTR stock fell 68% while Bitcoin dropped only 15%, highlighting ETF impact.

5.

The Swiss National Bank increased its Bitcoin exposure by investing in Saylor's Strategy and other Bitcoin-focused firms, underscoring rising institutional adoption.

Events to Watch

Nov 24 (Mon)

US PCE rates for October and the second estimate of US Q3 GDP will be released, key for inflation and economic outlook.

Nov 25 (Tue)

US and Germany to release PPI and GDP data; US Conference Board Consumer Confidence Index for November will be published.

Nov 26 (Wed)

US Q3 GDP report, Beige Book, initial jobless claims, Chicago PMI, and UK budget announcement will be released.

III. Phemex Market Focus

New Listings

1.

Nov 19: (DGRAM/USDT)

Datagram is a global, AI-driven Hyper-Fabric Network that delivers real-time connectivity and DePIN cross-network interoperability.

Phemex Promotions

1.

Trade CC, MET and ZBT to share 30,000 USDT!

Participate in trading CC, MET, and ZBT to share a total of 30,000 USDT rewards.
2.

Phemex 6th Anniversary: Call of Heroes!

Join the Phemex 6th Anniversary celebration and participate in the Call of Heroes event.
3.

Phemex 6th Anniversary: Wealth Springs

Celebrate Phemex's 6th Anniversary with the Wealth Springs event, offering exciting rewards.
4.

Phemex 6th Anniversary Event

Join the Phemex 6th Anniversary Event and enjoy various activities and rewards.
5.

Trade Spot to Share 450,000 USDT & Enjoy 0 Fees!

Participate in spot trading to share 450,000 USDT and enjoy zero trading fees.