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BlockBeats News, November 30 — This week, due to the impact of the Thanksgiving holiday in the United States, market trading volume has remained very low, which is a typical feature of Thanksgiving trading. However, as the CME "pulled the plug" on Friday due to a data center failure, spot gold and silver experienced significant volatility and continued to rise after futures prices resumed quoting. Gold prices surged nearly $150 this week, returning above $4,200. In terms of data, the U.S. September PPI and retail sales data performed poorly, and the weekly private sector employment data released by ADP was also quite weak. At 09:00 on Tuesday, Federal Reserve Chairman Powell will deliver a speech at a commemorative event; At 23:00 on Tuesday, Federal Reserve Governor Bowman will testify before the House Committee. At 21:15 on Wednesday, U.S. November ADP employment numbers; At 21:30 on Wednesday, U.S. September Import Price Index MoM; At 22:15 on Wednesday, U.S. September Industrial Production MoM; At 22:45 on Wednesday, U.S. November S&P Global Services PMI final reading; At 23:00 on Wednesday, U.S. November ISM Non-Manufacturing PMI; At 21:30 on Thursday, U.S. Initial Jobless Claims for the week ending November 29; At 23:00 on Friday, U.S. December one-year inflation expectations preliminary reading, December University of Michigan Consumer Sentiment Index preliminary reading, September Core PCE Price Index YoY, September Personal Spending MoM, September Core PCE Price Index MoM. If November services activity grows healthily again, it will support the hawks within the Federal Reserve, while a sudden drop to 50.0 or below would support the case for an immediate rate cut. Equally important is next Wednesday's ADP employment report. The official November nonfarm payrolls report will not be released until December 16, and with the October report canceled, the ADP private sector employment survey will provide an important update on the labor market.

BlockBeats News, November 29, according to Cointelegraph, after several weeks of strong selling, bitcoin may be forming a short-term bottom. A market analyst believes that market conditions are now in place to support a rebound in bitcoin toward the $100,000–$110,000 range. Trader Mister Crypto stated that bitcoin's short-term structure is showing signs of stabilization, following what he described as "capitulation selling" in the market. He pointed out that indicators related to trader behavior show that as market sentiment fell into the extreme fear zone, major players have started to open new long positions. Historically, this combination often signals a rebound during downturns. One of the main technical signals he cited is the RSI (Relative Strength Index) on bitcoin's weekly chart, which is currently approaching the 30 level. He said: "We are seeing the bottom for bitcoin right here. RSI is already close to 30. Boom (bottomed out)." The analyst noted that in previous cycles, this area has often closely coincided with market bottoms. Although he cautioned that this does not guarantee a new bull market has begun, it usually indicates that at least a short-term reversal will occur. Another factor supporting the rebound view is the current distance between bitcoin and the 50-week moving average (around $102,000). According to the analysis, in past cycles, after bitcoin fell below this moving average, there were multiple instances of price pulling back to this level. The current expectation is that bitcoin may rebound, pushing the price back into the six-figure range, before potentially experiencing a deeper trend in the future. The macro environment has also added to the optimism in the short term. He pointed out that the market expects quantitative tightening (QT) may be coming to an end, and there is speculation that another rate cut may be announced at the upcoming monetary policy meeting. Both developments tend to ease financial conditions, which is favorable for risk assets such as bitcoin.