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Pre-market: Crypto-themed Stocks Surge, Bitmine Up 3.53%

4 hours ago

On November 20th, according to market data, in the pre-market trading of crypto-related stocks in the US, there was a general increase. These included: Strategy (MSTR) rising by 2.68%; Circle (CRCL) increasing by 1.79%; Coinbase (COIN) going up by 1.91%; MARA Holdings (MARA) rising by 3.33%; Riot Platforms (RIOT) increasing by 3.07%; Bitmine Immersion (BMNR) rising by 3.53%; SharpLink Gaming (SBET) going up by 3.34%.
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Analyst: It is expected that next year, after the new Federal Reserve Chair takes office, there will be four interest rate cuts

On November 20th, Jay Hatfield, an analyst at Infrastructure Capital, stated that the Federal Reserve is not anticipated to cut interest rates in December unless the employment data is extremely weak. However, the data is completely contrary to the expectations of his team. "We still anticipate that the Fed will maintain stability in December. We are confident that inflation is gradually decreasing, and there will be four interest rate cuts next year after the new Fed chairman takes office. Therefore, the 10-year Treasury yield should remain around 4%, which is positive for the stock market." (FX678)

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Bitcoin Drops Below $91,000

On November 20th, according to HTX market data, Bitcoin fell below $91,000, with a 24-hour percentage change of -0.34%.

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Nillion: An unauthorized market maker sold off NIL tokens and has initiated a buyback of the sold tokens

On November 20th, Nillion put out a statement stating, "A particular market maker sold NIL tokens without obtaining proper authorization from the Nillion Association. During the flash sale and the subsequent hours, it refused to respond to the team's communications." We are taking immediate steps. The Nillion Association has begun using association funds to repurchase the sold tokens. We also promise to use all funds sold without authorization by this market maker to buy back more NIL tokens. We are actively pursuing legal actions and coordinating with our exchange partners to ensure that all accounts and wallets related to this event have been frozen.

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Ethereum Treasury Company FG Nexus Sells 10,922 ETH for Share Buyback

On November 20th, the Ethereum Treasury Company FG Nexus sold 10,922 ETH in order to buy back shares and retained 40,005 ETH.

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Federal Reserve Harker: Further Rate Cuts Could Pose Financial Stability Risks

On November 20th, Loretta Mester, the President of the Federal Reserve Bank of Cleveland, gave a warning on Thursday. She stated that making further interest rate cuts at this time would bring widespread risks to the economy. Since inflation has continuously remained above the Federal Reserve's 2% target, "lowering rates to support the labor market may extend this period of high inflation and might also stimulate risk-taking behavior in financial markets." Mester pointed out that in the situation where stock prices are rising and credit conditions are "easy," the current financial environment is "quite accommodative." She explained that further easing of credit costs in such a situation "may support riskier loans." (FX Street)

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Goldman Sachs: Possibility of Rate Cut in December Still Exists

On November 20th, Haj, the head of Fixed Income at Goldman Sachs Asset Management, stated: "Considering the continuous weakness in the labor market as indicated by the unemployment rate, the potential for a Fed rate cut in December still persists." (IG)

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