Bitget Daily Briefing (November 24) | Total cryptocurrency market cap rises above $3 trillion; Michael Saylor posts "will not yield," suggesting continued Bitcoin accumulation; Bloomberg: Bitcoin's decline signals weak performance for risk assets by year-end, but there may be growth momentum in 2026

Today's Outlook

1. Macroeconomist Lyn Alden: A significant crash in Bitcoin and the entire cryptocurrency market is currently unlikely, "We have not yet reached a level of euphoria in this cycle, so there is no reason to expect a massive sell-off."
2. U.S. Treasury Secretary Yellen: The government shutdown has caused a permanent $11 billion hit to U.S. GDP.
3. Alternative Data: The cryptocurrency Fear and Greed Index has risen to 19, up from 13 yesterday, with a weekly average of 14, indicating that market sentiment remains in a state of "extreme fear."

Macro & Hot Topics

1. The cryptocurrency market is warming up, with Bitcoin briefly breaking through $88,000, and the total crypto market cap recovering above $3 trillion.
2. Michael Saylor posted that he "will not yield," suggesting he will continue to accumulate Bitcoin.
3. ProCap CIO: The open interest in Bitcoin put options is large at the end of December, with implied volatility returning to levels seen before the ETF listing.
4. Bloomberg: The decline in Bitcoin suggests weak performance for risk assets by the end of the year, but there may be growth momentum in 2026.

Market Trends

1. BTC and ETH rebounded, but the market remains in a state of extreme fear, with approximately $225 million liquidated in the last 24 hours, including $129 million in short liquidations.
2. U.S. stocks: The Dow Jones increased by 1.08%, the S&P 500 rose by 0.98%, and the Nasdaq Composite gained 0.88%.
   
3. Bitget BTC/USDT liquidation map shows: BTC's current price of $87,755 is just above a high-leverage long zone (approximately $85,000--$88,000), and a downward move could trigger a series of long liquidations. The upper short liquidation area is relatively dispersed, with a smaller cumulative scale, and the resistance to upward breakthroughs is significantly weaker than the chain risk of downward movements.
   
4. In the past 24 hours, BTC spot inflows reached $378 million, outflows were $372 million, resulting in a net inflow of $6 million.
   

News Updates

1. SEAL members: North Korean agents have infiltrated 15% to 20% of cryptocurrency companies, and 30% - 40% of job applications may come from North Korean agents attempting to infiltrate.
2. The Department of Government Efficiency (DOGE), established by President Trump to reduce the size of government, has been dissolved.
3. Tether-supported Rumble has launched a cryptocurrency tipping feature and introduced Rumble Wallet.

Project Progress

1. The pump.fun project has transferred 405 million USDC to Kraken in the past week, with funds obtained from a private sale of PUMP to institutions in June, priced at $0.004.
2. Port3 has initiated a token migration plan and burned over 160 million tokens.
3. Monad co-founder clarified that it has not issued any Meme coins or NFTs related to its pet Anago, reminding users to be cautious.
4. The net inflow of stablecoins on the Sui chain reached $2.4 billion in the past 24 hours, ranking first; Aptos and Ethereum follow closely.
5. Aster: Due to incorrect pricing of gold, the market price of XAUUSDT has deviated, and affected users will be fully compensated.
6. The Bitcoin community and Strategy supporters are calling to "boycott" JPMorgan due to a report related to proposed new regulations by MSCI.
7. Data: Tokens such as XPL, WCT, and SAHARA will see significant unlocks this week, with XPL unlocking approximately $18.1 million.
8. Michael Saylor's "Will you HODL this week" poll concluded: 77.8% did not sell.
9. The Uniswap community has passed a temperature check proposal to activate the fee switch.
10. Bitwise CEO's survey on responses to the market crash concluded: "Buy" accounted for over 43%, ranking first, "Hold" accounted for 37.6%, ranking second; "Still undecided" accounted for 9.8%, ranking third; "Sell" accounted for 9.5%, ranking fourth.
    **Disclaimer: This report is generated by AI, with human verification for information only, and does not constitute any investment advice.