U.S. Stocks Close Lower on Thursday, Nasdaq Drops Over 2%, Bitcoin Slides to Touch $86,100 at One Point

On November 21st, when U.S. stocks closed on Thursday, the Dow initially saw a decline of 0.84%, the S&P 500 dropped by 1.55%, and the Nasdaq Composite fell by 2.15%. Nvidia (NVDA.O) decreased by 3.1%, reaching a 5% increase at one point during the trading session. In the cryptocurrency field, Bitcoin dropped to a low of $86,100 at 3:00 am this morning and has now slightly rebounded to $87,200; Ethereum once fell below $2,800 and has now slightly recovered to $2,850. The recent large outflows from spot Bitcoin and Ethereum ETFs, along with the weak pullback in U.S. stocks, have all contributed to the downturn in the cryptocurrency market. Bitcoin mainly fell during the opening hours of the U.S. stock market and then rebounded and recovered during the Asian session, highlighting the selling pressure from the United States. At the same time, the market no longer anticipates a rate cut by the Federal Reserve in December because of the strong job numbers, which have reduced the risk of rising unemployment. The probability of a 25-basis-point rate cut by the Federal Reserve in December is 39.6%.