Keep an Eye On How Saudi Arabia Mining and Fed's Decision Impacts Crypto's Rebound

🗣️ The top trending stories driving markets as we drive toward Thanksgiving, are:

🇸🇦 Saudi Arabia Mining: Saudi Arabia has announced it will start mining Bitcoin, signaling a major push into the crypto space. This move coincides with a $1 trillion investment pledge in the U.S. and collaboration with Nvidia and Elon Musk on a 500MW AI supercomputing project. President Trump designated Saudi Arabia as a major non-NATO ally, strengthening economic and technological ties. The Middle East is positioning itself as a key player in blockchain and AI infrastructure.

📊 Wednesday Market SPX: Markets show mixed signals as Bitcoin dips below a key cost-basis level, hinting at bear market conditions, while indices like $SPX and$YM_F display clean structures with potential upside. Nvidia earnings loom large, with traders anxious about its impact on broader market sentiment. Meanwhile, legislative moves toward a crypto market structure bill in December add bullish momentum for Bitcoin. Geopolitical tensions and energy discoveries also influence market dynamics.

🏦 December Fed Outlook: Markets are reacting sharply as the odds of a December Fed rate cut fall below 43%, driven by the cancellation of the October jobs report and delayed November data. The Fed remains divided, with many officials opposing a December cut while some still see it as possible if data weakens. Meanwhile, the US Senate plans to vote on a crypto market structure bill in December, fueling optimism for Bitcoin. Uncertainty around economic data and Fed policy is causing increased market volatility.

🪙 Kraken IPO Plans: Kraken has confidentially filed for a U.S. IPO, following an $800 million funding round that values the company at$20 billion. Major investors like Citadel and Jane Street back the exchange, fueling its plans for global expansion. This move signals confidence in Kraken's growth and the broader crypto market after regulatory clarity improved. The IPO is targeted for 2026, positioning Kraken as a leading public crypto platform.

💸 BlackRock ETH Move: BlackRock has filed for a new staked Ethereum Trust in Delaware while transferring over $800 million in Bitcoin and Ethereum to Coinbase Prime. This move signals preparation for a staked ETH ETF amid ongoing large outflows from Bitcoin and Ethereum ETFs. Market participants are watching closely as BlackRock’s actions could attract institutional investors or trigger further selling pressure. The motive appears to be positioning for new product launches despite current market weakness.

🔖 Bookmark the Santiment top trending stories dashboard, and see what topics are likely impacting crypto's fluctuating prices.

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Это не финансовый совет. DYOR.