Bitcoin rises alongside stocks ahead of Thanksgiving holiday: CNBC Crypto World

Market Overview - Major cryptocurrencies are experiencing slight increases as stock markets rise ahead of the Thanksgiving holiday [1] - Bitcoin rose by 0.8% to $87,800, Ether gained over 0.5% to $2,946, and Solana's Soul token increased by 0.75% to $137 [2] Legal Issues - Families of victims from the October 7th Hamas attacks are suing Binance, alleging the platform facilitated transactions for terrorist organizations [2][3] - The lawsuit claims Binance was designed as a criminal enterprise for global money laundering, with Binance stating it complies with international sanctions [3] Technological Developments - Swiss crypto bank Amina successfully completed a transaction using Google Cloud's ledger technology, showcasing the potential of distributed ledger technology in modernizing cross-border payments [5][6] - Robinhood is expanding its investment in prediction markets, having onboarded over 1 million customers and traded 9 billion contracts since launch [7][8] Market Sentiment and Predictions - The recent crypto sell-off began on October 10th, resulting in over $20 billion in liquidations, leading to a period of market digestion [9][17] - Current market indicators suggest that Bitcoin is near a low, with technical indicators like the RSI showing oversold levels [20] - The Federal Reserve is expected to cut rates in December, with an 80% chance priced in by traders, which could positively impact risk sentiment [10][20] Regulatory Developments - The passage of the Genius Act and ongoing discussions about crypto market structure legislation indicate a high priority for crypto regulation in the US [22][29] - Major institutions are showing interest in stable coins, with a prediction that the stable coin market could grow from $300 billion to potentially $1 trillion in the next year [30][32] Future Outlook - The stable coin industry is expected to see significant growth, with characteristics such as speed, cost-effectiveness, and global accessibility driving adoption [33][34] - The overall sentiment in the crypto market is currently low, but there is optimism for recovery and growth in early 2026 as institutional adoption continues [21][32]