Benson Sun: Multiple bottoming signals have been observed, and the market has fully digested the bearish expectation of MSTR being removed from the index

On November 23rd, Binance Alpha launched Kyuzo's Friends (KO).

On November 23rd, based on Coinglass data, Coinbase's Bitcoin Premium Index has been in a negative premium for 24 consecutive days and is currently at -0.0658%. BlockBeats Note: The Coinbase Bitcoin Premium Index is employed to measure the disparity between the Bitcoin price on Coinbase (a major U.S. exchange) and the global market average price. This index serves as an important indicator for observing the flow of funds in the U.S. market, institutional investment sentiment, and changes in market sentiment. A positive premium indicates that the Coinbase price is higher than the global average, usually suggesting: strong buying pressure in the U.S. market, institutions or compliant funds actively entering the market, abundant USD liquidity, and a predominantly optimistic investment sentiment. A negative premium indicates that the Coinbase price is lower than the global average, typically reflecting: significant selling pressure in the U.S. market, a decrease in investor risk appetite

On November 23rd, as per Coinmarketcap data, the Altcoin Season Index has declined to 25. Previously, on September 20th, it reached a peak of 78, and the weekly average for last week was 31. This index indicates that within the past 90 days, approximately 25 projects among the top 100 cryptocurrencies by market capitalization have outperformed Bitcoin. Note: The CMC Altcoin Season Index is a real-time indicator employed to evaluate whether the current cryptocurrency market is in an altcoin-dominated season. This index is based on the performance of the top 100 altcoins in relation to Bitcoin over the past 90 days.

On November 23rd, Andrei Grachev, a partner of DWF Labs, posted and said, "Just acquired some Bitcoin. I believe this price is favorable. This is not financial advice (NFA)."

On November 23rd, according to Coinglass data, if Bitcoin drops below $84,000, the cumulative long liquidation intensity of mainstream CEXs will amount to $623 million. Conversely, if Bitcoin rises above $88,000, the cumulative short liquidation intensity of mainstream CEXs will only be $533 million. BlockBeats Note: The liquidation chart does not accurately depict the number of contracts awaiting liquidation or the exact value of contracts being liquidated. The bars on the liquidation chart actually represent the significance of each liquidation cluster in relation to adjacent clusters, that is, intensity. Therefore, the liquidation chart shows the extent to which reaching a certain price level will have an impact. Higher "liquidation bars" indicate that when the price reaches that level, a more intense response will be triggered due to a liquidity cascade.

On November 23rd, according to Coinglass data, the current mainstream CEX and DEX funding rates show that although the crypto market has witnessed a rebound in the past two days, participants still maintain an overall bearish sentiment. Almost all asset trading pairs have a negative funding rate. BlockBeats Note: The funding rate is a fee set by cryptocurrency exchanges to maintain the balance between the contract price and the underlying asset price. It is usually applicable to perpetual contracts and is a fund exchange mechanism between long and short traders. The trading platform does not charge this fee. It is used to adjust the cost or profit of traders holding the contract to keep the contract price close to the underlying asset price. When the funding rate is 0.01%, it represents the baseline rate. When the funding rate is greater than 0.01%, it indicates a generally bullish market. When the funding rate is less than 0.005%, it indicates a generally bearish market.