Trader: XRP, SUI Lead Crypto Rebound as Bitcoin Tops $89K; Relief Rally Faces $100K Walls

[Probability of Fed Cutting Rates by 25 Basis Points in December Rises to 81%] CME 'FedWatch' data shows that the probability of the Federal Reserve cutting rates by 25 basis points in December is 81% (compared to 69.4% yesterday), while the probability of maintaining rates unchanged is 19%. By January next year, the probability of the Fed cumulatively cutting rates by 25 basis points is 65.2%, maintaining rates unchanged is 14.1%, and cumulatively cutting rates by 50 basis points is 20.6%.

[UBS Securities Says U.S. Stock Market Rotation May Have Ended] UBS Securities trading division stated that the recent decline in the U.S. stock market may have ended, creating conditions for a year-end rebound. Last week, the stock market experienced a sharp drop as investors' expectations for further easing by the Federal Reserve wavered, alongside capital outflows from AI-related trades. The S&P 500 Index and Nasdaq 100 Index fell approximately 4% and 7%, respectively, from their record highs in late October, dropping to their 100-day moving averages. However, after the benchmark indices found support at this technical level, systematic fund selling has subsided, and market expectations for a December rate cut by the Federal Reserve have also recovered. Michael Romano, UBS Securities' Head of Equity Derivatives Hedge Fund Sales, noted in a Sunday report, 'The current phase of risk aversion may have ended.'

The current 90 minute cycle shows that ETH prices have fallen above the core chip intensive area of 2831-2837, with a trading volume of 4.87%, which is the strongest support level in recent times. The exclusive chip distribution indicator for members shows that there are secondary support bands at 2819 and 2806.5 below, indicating that the current pullback space is relatively limited. On the technical side, KDJ shows a dead cross and is in the overbought area, indicating a short-term need for adjustment. But EMA24 and EMA52 are crossing upwards, and the medium-term trend is still bullish. Unlock exclusive chip distribution for members, accurately grasp support resistance levels, and stay ahead to understand the main trend! The data is sourced from the PRO member's [ETH/USDT Binance USDT perpetual 90 minute] candlestick, for reference only, and does not constitute any investment advice.

Eric Balchunas stated that five spot altcoin ETFs will be listed in the next six days, and it is expected that more products will be launched gradually. （Cointelegraph）

MicroStrategy did not make any new Bitcoin purchases despite a 67% drop in stock price from its peak. （Decrypt）