OSL Trading Moments: The market faces profit-taking pressure, and the regulatory environment shows positive signals

1. Market observation

Keywords: BTC, TORN, MOVE

Bitcoin (BTC) fell below $91,000 this morning and was temporarily reported at $92,533 as of press time. CryptoQuant data showed that long-term holders have sold more than 728,000 BTC in the past 30 days, and the market is facing profit-taking pressure. However, analysts at Standard Chartered Bank said that BTC is expected to have room to rise after consolidating in the range of $85,000 to $88,700.

In addition, the regulatory environment showed positive signs. The US court ruled that OFAC had exceeded its authority to sanction the Tornado Cash smart contract. The price of TORN reacted strongly to the news, rising nearly 10 times. At the same time, the traditional financial institution Pantera Bitcoin Fund performed well, with a cumulative return rate of over 131,000%, highlighting the recognition of institutional investors for the long-term value of Bitcoin.

In terms of the macro environment, US stocks continued to remain strong, with the S&P 500 index at 6,021.63 points, up 26.24% year-to-date; the Nasdaq index at 19,175.58 points, up 27.74% year-to-date. A number of important economic data will be released tonight, including the core PCE price index and the quarterly GDP growth rate, which may have an impact on market sentiment.

2. Key data (as of 10:00 HKT on November 27)

• S&P 500: 6,021.63 (+26.24% year-to-date)

• Nasdaq: 19,175.58 points (+27.74% year-to-date)

• 10-year Treasury yield: 4.302% (-3.34 basis points year-to-date)

• US dollar index: 106.494 (+4.89% year-to-date)

• Bitcoin: $92,533.04 (+118.93% year-to-date), with a daily spot volume of $89.53 billion

• Ethereum: $3,335.90 (+46.22% year-to-date), with a daily spot volume of $38.39 billion

3. ETF flows (November 26 EST)

• Bitcoin ETF: Net outflow of $120.5 million

• Ethereum ETF: Net outflow of $8.3 million

4. Important day (November 27, 9:30 p.m.)

• Core PCE price index month-on-month (previous value: 0.3%, expected: 0.3%)

• GDP quarter-on-quarter growth rate (previous value: 3.0%, expected: 2.8%)

• Personal income (previous value: 0.3%, expected: 0.3%)

• Personal spending (previous value: 0.5%, expected: 0.4%)

5. Hot News

• US court rules that OFAC overstepped its authority to sanction Tornado Cash smart contract, TORN rises nearly 10 times

• Vitalik received 22.89 ETH from the sale of Meme coins and donated 320 ETH to CoinCenter

• Movement Network Foundation announces MoveDrop, airdropping 10% of MOVE tokens to the community

• WalletConnect launches WCT token qualification check page

• Standard Chartered Bank analyst: BTC may consolidate in the range of $85,000 to $88,700 and then move upward

• CryptoQuant: Long-term Bitcoin holders have sold more than 728,000 BTC in the past 30 days

• Kraken to shut down NFT marketplace, shift focus to other projects

• Pantera Bitcoin Fund's return has reached 1,000 times, with a cumulative return rate of over 131,000%

• Uniswap Labs launches $15 million bug bounty program

• Starknet Becomes the First Ethereum Layer-2 Network to Support Crypto Staking

• Changpeng Zhao: I have no intention of discouraging meme coin investment, I just hope to encourage more developers to participate in the construction

• AXIOS: Trump is considering appointing a secretary of state for artificial intelligence

• Binance will delist GFT, IRIS, KEY, OAX, and REN

• Binance HODLer airdrop launched the second phase of the project Thena (THE), THE rose by more than 430% in 1 hour

• 80% of the supply of JUSTICE tokens issued by the owner of the internet celebrity squirrel Peanut is suspected to be controlled by an internal team

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