Poly market traders see a strong possibility of an interest rate cut in December
Let's discover why the interest rate cut indicates that traders expect a reduction of 25 basis points, with the poly market pricing at 93 percent ahead of the Federal Open Market Committee meeting. The recent meeting of the Federal Reserve Board this year has generated widespread interest across global markets. Traders are eagerly awaiting every signal as the Federal Open Market Committee (FOMC) meeting in December approaches. Poly market traders show a clear conviction regarding the direction of monetary policy. Only five days remain until the meeting, and the discussion is now focused on the possibility of an interest rate cut in December. Traders anticipate a shift in line with slowing inflation and easing financial pressures. These expectations shape the market sentiment related to high-risk assets.
The "BlackRock" fund experiences the largest weekly outflow since its launch in January 2024
The BlackRock Bitcoin exchange-traded fund experienced its largest weekly outflow since its launch in January 2024, reflecting a decline in demand for Bitcoin following a violent drop earlier this week.
Investors withdrew about $16.5 million from the "iShares Bitcoin Trust" this week, marking the sixth consecutive week of withdrawals.
BlackRock clients sell $114.7 million in Bitcoin in a new wave of exits
BlackRock's iShares Bitcoin Trust recorded its largest single-day outflow of $114.73 million, contributing to $194.64 million in total outflows for BTC exchange-traded funds. BlackRock clients withdrew $114.73 million worth of Bitcoin from the iShares Bitcoin Trust (IBIT). This move represents the largest outflow from an ETF in a single day during this week. It also pushed the total outflows from all U.S. spot Bitcoin funds to about $194.64 million on that day.
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Collapse of short positions on ZEC as a wave of massive liquidations hits the market
Let's explore why the short pressure on ZEC exploded so rapidly and how the massive short liquidation shocked cryptocurrency traders. Traders were surprised by a sharp move in the cryptocurrency market after ZEC experienced one of the fastest 'seller squeeze' events this year. The surge happened within a few minutes and led to extreme volatility across major trading platforms. Traders witnessed a strong jump in the currency, resulting in the largest short liquidation on ZEC in months.
The Solana Base bridge connects networks to accelerate cryptocurrency transfers
The Solana Base bridge connects the Solana and Base networks, enabling faster and more secure cryptocurrency transfers and better cross-chain connectivity. Coinbase and Chainlink launched a new bridge connecting the Solana network and Ethereum's Base network. This bridge uses Chainlink's $LINK interoperability protocol, allowing users to transfer assets and data between the two networks more easily.
XRP enters the 'fear zone' as social sentiment reaches its lowest levels — are we waiting for a reversal?
SpaceX transferred another 1083 BTC for custody while Bitcoin hovers around 92 thousand dollars, indicating continued strategic movements of the treasury regarding XRP. The latest data from Santiment indicates that XRP is currently experiencing one of its deepest fear phases in recent months. The analytics company reports that the social sentiment surrounding XRP has sharply turned negative, with bearish comments dominating discussions on platform X. This level of fear reflects similar conditions to what was seen in late November, before XRP suddenly rebounded.
December may see a rebound in digital assets according to Coinbase predictions
The U.S. Federal Reserve's decision in December may boost cryptocurrency markets if it lowers interest rates. Investors should exercise caution and closely monitor trends. Coinbase, one of the largest cryptocurrency trading platforms, states that the market may see a turnaround in December. This depends on the Federal Reserve's (Fed) decision to lower interest rates. Lowering rates could inject new liquidity into the cryptocurrency market and give the market a boost, potentially encouraging individual and institutional investors to return to the market after months of caution and uncertainty.
RedotPay and Ripple Enhance the Digital Currency Scene in Nigeria
Let's discover how converting cryptocurrencies to the naira becomes instantaneous with RedotPay and Ripple, enabling fast transfers to Nigerian bank accounts. The adoption of digital currencies in Africa is accelerating at an unprecedented pace, with Nigeria leading all key indicators. Users are seeking faster access, smoother transfers, and reliable settlement. The demand for converting digital currencies to the naira easily is increasing monthly, alongside the expansion of digital asset usage in savings, payments, and global remittances. In this context, the importance of speed and trust is greater than ever.
Yi He appointed as co-CEO to lead Binance's global expansion
Binance Yi He: Co-founder Yi He has joined Richard Teng as co-CEO, enhancing leadership and guiding the exchange's growth and innovation.
Binance, one of the largest cryptocurrency trading platforms in the world, announced an important leadership change. Co-founder Yi He has been appointed as co-CEO. She will now share the role with Richard Teng, who remains the CEO. This move highlights Binance's focus on strong leadership and growth.