Crypto "Rally Continues" as Fed Keeps December Rate Cut Odds Steady Post-ADP Data

BlockBeats News, December 4th: The crypto market maintained its upward trend last night and this morning, with Bitcoin briefly surpassing $94,000 and Ethereum reclaiming $3,200. On the news front:

1. The US ADP employment report for November showed a decrease of 32,000 jobs, compared to an expected increase of 10,000 jobs. Following the ADP data release, the probability of a 25-basis-point rate cut by the Federal Reserve in December slightly decreased to 88.8%.

2. According to sources familiar with the matter, President Trump's aides and allies are discussing a personnel arrangement: if Trump appoints Hassett as the next Federal Reserve Chairman, current Treasury Secretary Besenbacher may also serve as the White House National Economic Council Director.

3. Paul Atkins, the chairman of the US Securities and Exchange Commission (SEC), stated that the "Cryptocurrency Market Structure Act" is about to be passed.

4. Polymarket has officially re-entered the US market and launched a US version of its app.

5. The Franklin Solana Spot ETF is now trading on the market.