In the past 12 hours, large transactions have shown that the main force sold a total of $78.1 million, bought only $40.67 million, and had a net outflow of $37.43 million, with a buy to sell ratio of 1: 1.92, indicating a strong short selling signal. In the latest 1-hour cycle, large market sell orders reached $4.62 million, suppressing further price declines. Based on the K-line pattern, a cross star appears and the price is below the EMA24/52 moving average, confirming the downward trend. The large transaction indicator helps you lock in the main trend in advance and accurately capture abnormal signals! The data is sourced from the PRO member's [BTC/USDT Binance 1-hour] candlestick, for reference only, and does not constitute any investment advice.

[Basel Committee Reassesses Bank Cryptocurrency Capital Rules] After the United States and the United Kingdom refused to implement the current cryptocurrency capital rules, the Basel Committee on Banking Supervision (BCBS) plans to reevaluate the relevant policies. Erik Thedéen, Governor of the Swedish Central Bank and Chair of the BCBS, stated that the 1250% risk weight set for cryptocurrency exposures may need adjustment. Law firm White & Case explained that this risk weight requires credit institutions to hold self-owned funds equivalent to their cryptocurrency asset exposures. Thedéen pointed out that the rapid growth of regulated stablecoins has influenced policy-making and suggested the need to reanalyze stablecoin risks and their regulatory approaches. Some banks believe the existing framework hinders their participation in cryptocurrency and stablecoin services. At the end of October, the Basel Committee began reviewing the rules originally scheduled to take effect in 2026.

The United Arab Emirates, El Salvador, Luxembourg, and the Czech Republic have disclosed that they have purchased Bitcoin, involving actions at the national level. （The Bitcoin Historian）

[Reuters Survey Predicts ECB Deposit Rate at 2.00% in 2026] A Reuters survey shows that the European Central Bank is expected to maintain the deposit rate at 2.00% in 2026.

[QCP: The U.S. economy is nearing the late cycle, this week's data may impact Bitcoin's trend] On November 19, QCP released a market observation stating that Bitcoin continued to decline this week, briefly falling below the $90,000 mark due to tightening rate hike expectations and ETF outflows dampening market sentiment. Thin liquidity exacerbated the downward trend, indicating Bitcoin's increasing sensitivity to changes in the macro environment. Adjustments in Federal Reserve policy expectations are putting pressure on Bitcoin and other interest rate-sensitive assets, while the stock market remains relatively stable due to robust corporate earnings. The U.S. economy is showing a K-shaped divergence, with resilient spending among high-income households and increasing pressure on low-income groups. This week's labor market data and leading economic indicators will provide critical insights into economic momentum and determine the nature of Bitcoin's pullback.