According to CoinMarketCap data, the global cryptocurrency market cap now stands at $2.85T, down by 8.78% over the last 24 hours.Bitcoin (BTC) traded between $92,541.92 and $80,600.00 over the past 24 hours. As of 13:00 (UTC) today, BTC is trading at $83,187.150 down by 9.56%.Most major cryptocurrencies by market cap are trading mixed. Market outperformers include HFT, ALLO, and NMR, up by 55.56%, 34.53%, and 19.42%, respectively.Top stories of the day:Nasdaq 100 Futures Experience Rapid Turnaround Tom Lee Predicts Bitcoin Surge Despite Market Downturn JPMorgan Revises Forecast on Federal Reserve's December Rate Cut Market Sentiment Turns Bearish as Funding Rates Indicate Downtrend SEC to Host Public Roundtable on Financial Monitoring and Privacy Bitwise XRP ETF Debuts on NYSE Following SEC Approval Retail Investors Driving Recent Crypto Market Decline, Says JPMorgan U.S. Added Stronger-Than-Forecast 119K Jobs in September, but Unemployment Rate Rises to 4.4% Global Markets Hit by ‘Black Friday’ Rout as Bitcoin Plunges to $82K and Nearly 390,000 Traders Liquidated New York Fed President Williams Signals Possible Near-Term Rate Cuts Despite Stalled Inflation ProgressMarket movers:ETH: $3015 (-1.65%)BNB: $902.18 (-2.02%)XRP: $2.1164 (-1.01%)SOL: $142.24 (+2.10%)TRX: $0.2866 (-0.38%)DOGE: $0.15711 (-0.43%)ADA: $0.4671 (+0.47%)WLFI: $0.1387 (-0.79%)WBTC: $91621.25 (+0.46%)ZEC: $673.96 (+10.37%)

The U.S. Securities and Exchange Commission (SEC) has approved Arca, Inc. on the New York Stock Exchange to list and trade the Bitwise 10 Crypto Index ETF, which covers assets including BTC, ETH, XRP, SOL, ADA, SUI, LINK, AVAX, LTC, and DOT.

Global financial markets faced a brutal “Black Friday” sell-off on Friday, with cryptocurrency traders suffering some of the steepest losses. Bitcoin fell to $82,000, triggering one of the largest liquidation events of the year and wiping billions from digital asset valuations.According to ChainCatcher, more than 389,052 traders were liquidated in the past 24 hours, with total liquidation losses exceeding $1.9 billion. The global crypto market capitalization sank below $3 trillion, falling 8.5% in a single day.Global Stocks Fall Sharply as Risk-Off Sentiment SpreadsThe panic wasn’t limited to digital assets. Risk aversion hit equities worldwide:United StatesU.S. stocks opened higher but closed sharply lower, reversing early gains.EuropeMajor European benchmarks opened lower and extended declines through the session.AsiaKOSPI (South Korea): closed down 3.78%, with a 3.95% weekly loss.Nikkei 225 (Japan): fell 2.40%, down 3.48% for the week.China A-shares: dropped 2%, breaking below the 3,900 level on heavy turnover.Hong Kong indices: all hit new multi-month lows, with the Hang Seng Index down 2.38%.The synchronized declines reflect growing global concerns about tightening liquidity, recession risks, and mixed macroeconomic signals from the U.S. and Asia.Even Safe-Haven Assets Are Selling OffIn an unusual turn, traditional safe-haven assets also fell:Spot gold: down 1.2% to $4,028.23/ozSpot silver: down 3%+ to $49.12/ozThe drop suggests widespread forced deleveraging and cash-raising across asset classes — a pattern typical during systemic risk events.A Broad-Based MeltdownFriday’s steep declines across cryptocurrencies, equities, and precious metals underscore rising global fragility. With markets simultaneously selling off risk assets and safe havens, analysts warn that liquidity stress, macro uncertainty, and tightening financial conditions are amplifying volatility.Bitcoin’s plunge to $82,000 — and nearly 390,000 liquidated positions — highlights how quickly leverage unwound across the crypto ecosystem.

Williams acknowledged that the current monetary stance remains “slightly restrictive,” suggesting that policy easing is still on the table if economic conditions justify it.Despite the slowdown in inflation improvement, Williams reaffirmed the Fed’s confidence that price growth will return to the 2% target by 2027, aligning with the central bank’s longer-term projections.His comments come as markets continue to reassess expectations for December and early-2026 rate decisions, amid weaker data visibility following the U.S. government shutdown and renewed uncertainty over labor-market strength.

In a sign of systemic stress, digital asset treasury (DAT) companies such as FG Nexus and ETHZilla liquidate millions of Ethereum to buy back shares at a steep discount to NAV. source: https://en.spaziocrypto.com/ethereum/fg-nexus-sells-eth-for-32-7m-amid-nav-crisis/

Bitcoin’s recent drawdown has not broken the broader market trend, according to Glassnode co-founder Negentropic, who said Thursday that the cryptocurrency is currently benefiting from a “buffer mechanism” that is helping stabilize market conditions despite elevated volatility.In a post on X, Negentropic noted that spot Bitcoin ETFs remain net profitable, with their aggregate cost basis largely unaffected by the recent sell-off. This indicates that ETF investors, many of whom are institutional participants, have not yet capitulated despite short-term price weakness.Solana ETF Inflows Remain Steady, Altcoins Outperforming BTC and ETHWhile Bitcoin has faced sharper downward pressure, Solana ETF inflows have remained stable, according to Glassnode’s analysis. The firm noted that SOL-linked funds and several major altcoins have outperformed both BTC and ETH on a relative basis during the recent market turbulence.This divergence suggests:Steady demand for Solana-based ETFs,Stronger appetite for mid-cap altcoins,A shift in short-term trader positioning away from Bitcoin dominance.Market Cycle Structure “Remains Intact”Negentropic emphasized that the overall cyclical structure of the crypto market remains unbroken, pointing to several resilient macro and structural indicators:ETF and spot demand remain strong, even during pullbacksMacro backdrop remains neutral-to-bullishThe market has not entered a capitulation phaseLong-term trend signals are still intactHe added that although some long-term holders have begun trimming exposure, the selling does not resemble historical capitulation patterns seen during final-cycle bottoms.A Stronger Rebound Could Follow the DeclineNegentropic said the market is approaching a zone where downside exhaustion could set in. When that occurs, he believes the rebound could be stronger than the decline itself, mirroring historical recovery patterns where Bitcoin rallied sharply after volatility-driven sell-offs.

Brandt projected that Bitcoin would reach $200,000 by 2029, a prediction that challenges earlier bullish forecasts. source: https://www.cryptopolitan.com/peter-brandt-predicts-bitcoin/

John Williams, the third-ranking official at the Federal Reserve and president of the New York Fed, said he believes the Fed still has room to cut interest rates again in the near future due to a weak labor market. Williams' comments suggest that another rate cut remains a possibility as Fed Chairman Powell attempts to reach consensus among deeply divided policymakers ahead of the December 9-10 meeting in Washington. (Jinshi)

null source: https://x.com/BTC_Archive/status/1991855512330121706

The surge follows months of rapid trading growth and key regulatory shifts reshaping the U. S. prediction market space. source: https://decrypt.co/349549/prediction-market-kalshis-valuation-jumps-to-11b-after-reported-1b-raise

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