Bitcoin 
$91,270.62 The price has returned to over 90 thousand dollars and altcoins continue on their way with gains exceeding 5 percent. US markets are closed today for Thanksgiving and yesterday’s stock market close was positive. So what does the current situation tell us? What is the latest situation in global markets?
Global Markets
Fed’s Increasing optimism that it will accelerate interest rate cuts supports risk markets. Share The recovery in US stocks continued yesterday and cryptocurrencies had the opportunity to enter the holiday season strongly. Although the possibility of an attack on Venezuela is a bit disturbing, as long as there is no major negative of cryptocurrencies It is possible to maintain the current optimism at least until Monday’s opening.
Gold is stable and the dollar has paused after two days of decline. The rapid change in interest rate expectations is motivating. At least 3 interest rate cuts are expected by the end of next year. Last week, the picture was much different on the interest side. It is positive that concerns about technology stocks have been reined in and the possibility of the Fed resisting reductions has decreased.
Technology stocks in Japan and South Korea continued their rise. As the possibility of the Ukrainian war ending increases, investors are focusing on its next phase. It is important for this war to end for the decline in oil prices. In fact, JPMorgan gives a target price of $ 30 for 2027 and cites excess supply as a reason for this huge decline.
US Investors and Cryptocurrencies
In October, there was concern that the decline would be longer-term, and this was not an empty reservation. US investors lost their appetite for risk for a long time, and this movement, which started in October, continued in November. As a matter of fact, what caused the acceleration of sales in those days was the decline of Binance Premium and the spread of the lack of risk appetite globally.
Things are changing today. US risk appetite, which has been in the negative zone for almost a month and continues to decline as you can see in the chart above, is recovering. The fact that the negativity in Coinbase Premium is now about to end fuels expectations that the decline in cryptocurrencies in general is over. Today anlcnc1 wrote:
“Coinbase Premium We are very close to the index turning positive. It has been negative for 28 days. It’s still negative now, but it’s slowly trying to get out of the negative zone. It would be better if it turns completely positive and turns the momentum upward, it hasn’t turned yet. There were periods when it was close before, but in all of them we saw extra news pressure and the momentum turned downwards again. I hope that nothing will happen that will create negative pressure on the US side and the premium will recover. Because we need to see positive for permanent price movements.”
Conditions are in favor of crypto for momentum to pick up on the Coinbase side through Monday as the US holiday reduces the risk of negative news.
