December interest rate cut expectations rise, BTC (Bitcoin) briefly breaks through $89,000.

Gate News Bot news, on November 25, according to CoinMarketCap data, as of the time of writing, BTC (Bitcoin) is currently priced at $87766.92, rising 0.07% in the last 24 hours, briefly breaking through $89000, with a 24-hour volume of $72.31 billion. The current market capitalization is approximately $1.75 trillion, an increase of $1.196 billion compared to yesterday.

Bitcoin is an innovative payment network and a new form of currency. Bitcoin operates using peer-to-peer technology, without a central authority or bank; transaction management and the issuance of Bitcoin are carried out collectively by the network. Bitcoin is open source; its design is public, and no one owns or controls Bitcoin, allowing everyone to participate. Through its many unique properties, Bitcoin enables exciting use cases that previous payment systems could not cover.

Important recent news about BTC:

1️⃣ The Federal Reserve's interest rate cut expectations boost market sentiment Federal Reserve officials recently made dovish remarks, suggesting a possible interest rate cut in December. The market's expectation probability for a 25 basis point rate cut in December has risen to 82.7%. This expectation pushed Bitcoin to briefly break through $89,000, with a rise of more than 1.64% within 24 hours. The US stock market also saw a significant increase, with the Nasdaq index rising by 2.69%.

2️⃣ Institutional investors continue to increase holdings Large institutional investors such as BlackRock continue to increase their holdings in Bitcoin. In the past two hours, BlackRock's wallet added 2,269 BTC. Meanwhile, Brazilian listed company OranjeBTC also increased its holdings by 7.3 BTC at an average price of approximately $95,000, bringing its total holdings to 3,720.3 BTC. This indicates that institutions still have strong long-term confidence in Bitcoin.

3️⃣ Derivatives market activity hits a new high The Chicago Mercantile Exchange (CME) reported a daily trading volume of 795,000 contracts for cryptocurrency futures and options, setting a new historical high. Since the beginning of this year, the average daily trading volume of CME's cryptocurrency derivatives has reached 271,000 contracts, with a notional value of $12 billion, a year-on-year increase of 132%. The open interest has also risen by 82%, indicating that investors are actively managing risk through compliant tools.

From a technical perspective, Bitcoin is currently fluctuating in the range of $80,000 to $88,000, with $85,000 being seen as an important support level. Most analysts expect a possible second bottom in the short term, but remain optimistic in the medium to long term.

This message is not an investment advice, and investors should be aware of market volatility risks.