Coinbase Debuts DEX Trading in Brazil as ‘Everything App’ Vision Grows

[A whale's long position of 17,804 ETH liquidated, with unrealized losses exceeding $10 million] On November 20, MLM monitoring showed that a whale address had been holding a long position of 17,804 ETH (valued at approximately $51.5 million) for over three weeks. After employing a Martingale strategy to add positions during the decline, the position was forcibly liquidated. Since late September, the unrealized losses across the whale's two accounts have exceeded $10 million.

[Probability of the Federal Reserve keeping interest rates unchanged rises to 66%, crypto market experiences short-term plunge] Polymarket data shows that the probability of the Federal Reserve keeping interest rates unchanged in December has risen to 66%, with total trading volume in this market reaching $119 million. Market data indicates that BTC briefly fell below $89,000, ETH dropped below $1,900, and $163 million was liquidated across the network in the past hour, primarily from long positions.

[Fed December Rate Cut Expectations Cool, Traders Adjust Market Pricing] After the U.S. Bureau of Labor Statistics confirmed it would not release the October employment report, traders now anticipate that the Federal Reserve is more likely to pause rate cuts at its December policy meeting. The federal funds futures market saw a sell-off, with traders reducing expectations for a 25-basis-point rate cut at the December 10 meeting, instead projecting the benchmark rate to remain in the 3.75% to 4% range. The swaps market, which is tied to the Fed's policy rate, priced in a 6-basis-point rate cut for the December meeting and a cumulative 19-basis-point cut by January. Lord Abbett portfolio manager Leah Traub stated that the unemployment rate data for November will only be released after the Fed meeting, which reduces the likelihood of a rate cut.

The BlackRock Bitcoin ETF suffered a daily loss of $532 million (Decrypt) due to the continuous decline in BTC prices.

[Polymarket Data Shows Probability of Two Fed Rate Cuts in 2025 Rises to 65%] Polymarket data shows that the probability of 'two Fed rate cuts in 2025' has risen to 65%, with the trading volume for the related prediction event reaching $24.38 million.