Fed Rate Cut Expectation Rises in December, Bitcoin Temporarily Breaks $89,000, Nasdaq Surges 2.69%

BlockBeats News, November 25: Federal Reserve Governor Waller stated that he personally advocates for a rate cut at the December policy meeting. While inflation has risen slightly, he believes that inflation will begin to decrease. January next year will be challenging as a significant amount of data will be released to assess the need for another rate cut. San Francisco Fed President and 2027 FOMC voter Daly said she supports a December rate cut because she believes the possibility of a sudden deterioration in the labor market is greater than a sharp rise in inflation and more difficult to control.

According to CME's "FedWatch" tool, the probability of a 25 basis point rate cut by the Fed in December has risen to 82.7%, while the probability of keeping rates unchanged is 17.3%.

U.S. stocks closed higher on Monday, with the Dow up 0.44%, the S&P 500 up 1.5%, and the Nasdaq up 2.69%. Bitcoin briefly surpassed $89,000, currently trading at $88,337.13 with a 24-hour gain of 1.64%.