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Overnight, the US stock market experienced its worst trading day since April, with the retail-heavy stock index plunging 3.6% and the Nasdaq dropping more than 2%. Poor earnings from Palantir and bearish bets by Michael Burry triggered a sell-off, while increased volatility in the cryptocurrency market added to retail investor pressure. Market sentiment remains tense, and further declines may follow. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively improved by the Mars AI model.
In November 2025, the crypto market experienced a structural turning point. The U.S. government shutdown led to a contraction in liquidity, pulling about 20 billions USD out of the market and intensifying capital shortages in the venture capital sector. The macro environment remains pessimistic.
Institutional funds continue to buy despite volatility, targeting a price level of $200,000.
1. On-chain funds: $61.9M flowed into Hyperliquid today; $54.4M flowed out of Arbitrum. 2. Largest price changes: $SAPIEN, $MMT. 3. Top news: ZEC surpassed $500, marking a 575% increase since Naval’s call.
Robinhood's crypto revenue grew by 300% in the third quarter, with total revenue reaching $1.27 billions.
- 22:28Next year's Fed voting members emphasize inflation risks and oppose further rate cutsJinse Finance reported that Loretta Mester, the 2026 FOMC voting member and President of the Cleveland Federal Reserve, stated on Thursday that persistently high inflation levels are unfavorable for the Federal Reserve to cut rates again, and she is concerned that monetary policy may not be adequately prepared to address current inflation. Mester said, "After last week's policy meeting, I believe monetary policy is barely restrictive, and in my view, there is currently no clear reason to take further policy action." Mester noted that the Federal Reserve continues to face inflationary pressures above its target, and the current monetary policy stance has almost no restraining effect on economic growth momentum. She opposed the Fed's decision to cut rates last week. Mester acknowledged there are issues in the labor market, but also warned that the unemployment rate remains low.
- 22:28Disney announces multi-year partnership agreement with DraftKingsJinse Finance reported that Disney has announced a multi-year partnership agreement with DraftKings, making it the official odds provider for ESPN Sports Network, replacing the previous partnership with Penn Entertainment.
- 22:18The probability of the Federal Reserve cutting interest rates by 25 basis points in December is 70.6%, and the probability of a rate cut in January next year is 54.2%.According to ChainCatcher, citing Jinse Finance, CME "FedWatch" shows that the probability of the Federal Reserve cutting interest rates by 25 basis points in December is 70.6%, while the probability of keeping rates unchanged is 29.4%. By January next year, the probability of a cumulative 25 basis point rate cut is 54.2%, the probability of keeping rates unchanged is 17.7%, and the probability of a cumulative 50 basis point rate cut is 28.2%.