Traders slash chances of a December cut to 33% as the Fed loses a key data point ahead of its final 2025 meeting.

Analysts believe that the end of the US government shutdown may pave the way for the approval of cryptocurrency ETFs in 2026. Bitwise Chief Investment Officer Matt Hougan expects to launch over 100 new products by then. （Cointelegraph）

Zcash prices continue to rise, in contrast to the decline in Bitcoin prices, and a finance company has recently increased its holdings of ZEC (Decrypt).

[Fed Minutes Show Hawkish Majority, Year-End Rate Cut Probability Decreases] The latest Federal Reserve policy meeting minutes reveal that several officials expressed concerns about labor market weakness but believed it might be appropriate to keep rates stable this year. RSM Chief Economist Joseph Brusuelas interpreted the minutes as highlighting the hawk-dove divide, with hawks presenting strong arguments around the risks of entrenched inflation. The U.S. Department of Labor announced a delay in releasing part of the October employment data until December 16, by which time the Fed's final meeting of the year will have concluded. Brusuelas believes the data delay only partially clears the fog surrounding the Fed's decision-making and expects no rate cuts.

[Federal Reserve Meeting Minutes Show December Rate Decision Hard to Predict] On November 20, Wall Street Journal reporter Nick Timiraos posted on social media that the Federal Reserve meeting minutes confirmed the gradually forming market consensus that a slight majority of officials may currently lean toward keeping rates unchanged in December. He noted that the opinions of 'many' officials carry more weight than 'several,' making the outcome of the December rate meeting difficult to predict.