Nomura: Expectation that the Fed will pause rate cuts in December

November 12th. On the 41st day of the U.S. government shutdown. Historical data indicates that the S&P 500 has typically witnessed a 2.3% rise following previous shutdowns and is likely to surge to 7000 points. The Senate has passed a temporary funding bill, and the market anticipates that the government will reopen this week, resulting in a quick return of liquidity. BiyaPay analysts note that this will release billions of dollars, boosting risk assets. U.S. stocks and crypto asset ETFs are rebounding simultaneously. Bitcoin and Ethereum are the first to recover, and the Fed may initiate a new "liquidity injection cycle," presenting a dual benefit for digital assets. BiyaPay reminds that the restoration of liquidity could be a key driving force for the end-of-year market. It is worth noting that BiyaPay has already supported USDT trading for U.S. stocks, Hong Kong stocks, and futures, providing 0% fee cryptocurrency spot contract trading to assist investors in seizing opportunities i

On November 12th, QCP issued its daily market observation which stated: The trend of Bitcoin remains in line with the overall news-driven risk sentiment. After a decline during the US session, it stabilized around $103,000 during the Asian session. Although the US government shutdown is still ongoing, there is now a more clear path to resolution. The pullback in yesterday's ADP data has reactivated the narrative of a weakening labor market, a signal that is of particular concern leading up to the December FOMC meeting (December 9-10), which is awkwardly timed with the uncertainty still surrounding the official BLS data release. The Senate has approved a "stopgap funding bill" to extend government funding until January 30th of the next year, providing a short-term fix for the fiscal issue. The bill has now been submitted to the House of Representatives and, if passed, will be sent to the White House for signing. While this measure can avoid an administrative shutdown during the holiday

On November 12th, according to Defilama data, the trading volumes of mainstream Perp DEXs have shown a slight increase in the past 24 hours. Among them, possibly affected by the news that "Lighter completed a $68 million funding round", the trading volume of Lighter has surged recently and currently ranks first in the 24-hour trading volume. The current trading volumes of some Perp DEXs are as follows: The 24-hour trading volume of Lighter is around $112.4 billion, with a TVL of around $11.72 billion and an open interest of $16.2 billion; The 24-hour trading volume of Hyperliquid is around $91.4 billion, with a TVL of around $47.31 billion and an open interest of $74.7 billion; [Aster](https://www.asterdex.com/en-US/referral/aboter) (hyperlink removed as it's not a proper link in this context) 24-hour trading volume is around $78.8 billion, with a TVL of around $14.63 billion and an open interest of $26.4 billion; The 24-hour trading volume of EdgeX is around $62.1 billion, with a

On November 12th, as monitored by OnchainDataNerd, 3 hours ago, Galaxy Digital withdrew 2.9 million ASTER tokens (approximately $3.31 million) to an over-the-counter (OTC) wallet. It is likely that a significant individual or entity, referred to as a "whale", carried out this fund transfer through Galaxy Digital.

On November 12th, according to the monitoring of HyperInsight (https://t.me/HyperInsight), "Pal" Huang Lizheng's address made a small additional investment in ETH and UNI long positions. Currently, the account is experiencing a floating loss of $45,000: · Long 1550 ETH with a 25x leverage, and currently has a floating profit of $38,900. The opening price is $3484.5, and the liquidation price is $3373.99; · Long 80,000 UNI with a 10x leverage, and currently has a floating loss of $84,800. The opening price is $9.693, and the liquidation price is $8.632.

On November 12th, according to HTX market data, Bitcoin saw a rebound and broke through $105,000. The 24-hour decline was narrowed to 0.41%.