Major Fed Rate Cut News! Cryptocurrency Market Surges Across the Board Late at Night!

On the evening of November 27, Beijing time, the cryptocurrency market collectively surged, with Bitcoin rising over 4% and Ethereum once climbing over 3%. According to Coinglass data, as of 23:00 Beijing time on the 27th, over 100,000 people were liquidated in the cryptocurrency market within 24 hours, with total liquidation amounts reaching $301 million (approximately 2.1 billion RMB).

Some analysis points out that the main reason for the cryptocurrency market's rebound is the excessive decline seen earlier, leading to an oversold bounce for cryptocurrencies like Bitcoin and Ethereum. Additionally, increasing expectations for a Federal Reserve rate cut have also boosted bullish sentiment in the cryptocurrency market. According to the CME "FedWatch Tool," as of the time of writing, the probability of a 25-basis-point Fed rate cut in December has risen to 84.9%.

In other latest news, White House National Economic Council Director Kevin Hassett has become the leading candidate for the next Fed Chair. Some analysis indicates that as one of US President Trump's key confidants, if Hassett becomes Fed Chair, he is highly likely to steer a more "dovish" monetary policy.

On the evening of November 27, Beijing time, the cryptocurrency market launched a full-scale rebound, with Bitcoin surging over 4%, Ethereum once up over 3%, and HYPE, BNB, SOL, and others all rising over 3%. On the 28th, Bitcoin's price continued to climb, reaching $91,420 per coin as of 07:00, representing a cumulative increase of over 13% compared to the low on November 21 ($80,843).

First, due to the excessive recent decline, the cryptocurrency market, led by Bitcoin, experienced an oversold rebound. Taking Bitcoin as an example, it had risen to over $126,000 within the year but fell to around the $80,000 mark on November 21, indicating a significant correction.

Second, steadily increasing expectations for a Fed rate cut have boosted investor bullish sentiment. According to the CME "FedWatch Tool," as of the time of writing, the probability of a 25-basis-point Fed rate cut in December has risen to 84.9%, while the probability of holding rates steady is 15.1%. Furthermore, the probability of the Fed implementing a cumulative 25-basis-point rate cut by next January is 67.2%, the probability of maintaining the current rate is 11.2%, and the probability of a cumulative 50-basis-point cut is 21.6%