Gate Daily (November 27): Trump extends some tariffs exemptions on China to next year; Bolivia incorporates stablecoins into its financial system.

Bitcoin (BTC) has experienced a sharp rebound, temporarily reported at around $90,723 on November 27. The U.S. has extended the exemption period for some tariffs on China to November 10, 2026, stimulating the rise of risk assets. Bolivia has incorporated cryptocurrencies and stablecoins into its financial system. The UK's Financial Conduct Authority (FCA) is testing a cryptocurrency transparency template, and the UK is drafting a new rulebook.

Macro Events & Coin Circle Hotspots

1. On November 26, local time, the Office of the United States Trade Representative announced that it will extend the exemption of tariffs established under the Section 301 investigation into China's technology transfer and intellectual property issues until November 10, 2026. The existing exemption was originally set to expire on November 29 of this year.

On November 25, Bolivia's Minister of Economy José Gabriel Espinosa announced that the Bolivian government will incorporate cryptocurrencies and stablecoins into the financial system to promote the modernization of the country's economy. According to a report by Reuters, banks will be allowed to custody cryptocurrencies on behalf of clients, enabling digital currencies to serve as legal tender for savings accounts, credit products, and loans.

3. The UK's Financial Conduct Authority (FCA) has approved the RegTech company Eunice to conduct experiments in its sandbox, clearly indicating how the UK intends to establish its upcoming cryptocurrency rulebook. On November 26, the UK's Financial Conduct Authority announced that its subsidiary Eunice will collaborate with several mainstream CEXs to test a standardized cryptocurrency information disclosure template. The company will test whether these templates can enhance transparency in practical applications.

News Updates

1. SpaceComputer completed a $10 million seed round financing for blockchain computing in space operational safety.

2. SpaceX has transferred 1163 BTC to a new address, worth approximately 105 million USD.

3. The United States will extend the exemption period for some tariffs on China until November 10, 2026.

4. BlackRock's SIO fund's IBIT holdings have increased to 2.39 million shares, with a quarterly growth of approximately 14%.

5. Vitalik donated 128 ETH each to Session and SimpleX to support privacy communication.

6. DWF Labs launches a $75 million DeFi investment fund.

7. The World Federation of Exchanges urges the U.S. SEC not to allow crypto companies to “bypass” the rules.

8. Tether CEO responds to S&P rating: “We take pride in your disdain,” traditional rating models have flaws.

9, JPMorgan expects the Federal Reserve to cut interest rates in December, reversing its prediction from a week ago.

10. Federal Reserve Beige Book: Economic activity has remained basically unchanged in recent weeks, with increasing polarization among consumers.

Market Trend

1. Latest news on Bitcoin: $BTC has experienced a severe Rebound, currently reported at around 90,723 USD, with a liquidation of 88 million USD in the past 24 hours, mainly from short positions;

2. Tech stocks continued to rise in the U.S. stock market on November 26, as investors' expectations for a rate cut at the next Federal Reserve (Fed) meeting heated up, boosting market confidence ahead of the Thanksgiving holiday. The Dow Jones Industrial Average rose by 314.67 points, a gain of 0.7%, closing at 47,427.12 points. The S&P 500 Index increased by 46.73 points, also a gain of 0.7%, closing at 6,812.61 points. The Nasdaq Composite Index rose by 189.10 points, a gain of 0.8%, closing at 23,214.69 points.

(Source: Gate)

3. In the Gate BTC/USDT liquidation map, based on the current 90,470.70 USDT, if it drops to around 88,926 USD, the cumulative liquidation amount of long positions exceeds 295 million USD; if it rises to around 90,721 USD, the cumulative liquidation amount of short positions exceeds 104 million USD. The liquidation amount for shorts is significantly lower than that for longs. It is recommended to reasonably control the leverage ratio to avoid triggering large-scale liquidations during market fluctuations.

(Source: Coinglass)

4. In the past 24 hours, BTC spot inflow was 2.55 billion USD, outflow was 2.41 billion USD, with a net outflow of 140 million USD.

(Source: Coinglass)

5. In the past 24 hours, contracts such as $ETH, $MERL, $HYPE, $BANANAS31, and $MON have seen a net outflow, indicating trading opportunities.

X KOL Selected Insights

Phyrex Ni (@Phyrex_Ni): “Today's task is simple; there are no important events happening, nor any significant data, just an extension of U.S. tariffs on China until November 2026. It's estimated that the two leaders reached some consensus during their phone call yesterday, and the continued honeymoon period between China and the U.S. has driven the continued rise of U.S. stocks. With the rise of U.S. stocks, $BTC is continuing to challenge the return to $90,000, and it's estimated that the issue isn't significant this time.”

“I just saw a piece of data showing that hedge funds had their largest buying volume since May from November 21 to 24, which is a rare level of passive buying. This might be consistent with the CTA buying we mentioned in today's weekly report, but we also pointed out in the report the difficulties we might face at the moment, as the main narrative is still the Federal Reserve's monetary policy. The U.S. stock market will be closed on Thanksgiving Thursday, and will close early on Black Friday, so if there's nothing major happening today, this should be a smooth ride. We'll deal with next week's troubles next week; today's weekly report is quite clear. Personally, I still focus on watching for a rebound in the current market, with the Federal Reserve's monetary policy as the main point of attention, followed by tariffs and liquidity.”

“Looking back at the data for Bitcoin, the turnover rate has significantly decreased. Although investor sentiment has not yet entered FOMO, at least it has been liberated from last week's panic state. How should we put it? The focus now is on the Federal Reserve. There shouldn’t be much this week, but starting next week, the difficulty will increase, especially since there is still some charting in December. The chip structure remains very healthy, and the two support levels are also very solid. Currently, there is no significant panic trend among the loss-making chips. As long as the support levels remain stable, there will still be opportunities for the price to return to the support levels.”

Today's Outlook

1. The European Central Bank released the minutes of the monetary policy meeting in October.

2. The US Thanksgiving holiday market closure