Asia Morning Briefing: BTC Steadies as Polymarket Traders Lean Toward December Rate Cut

Bitcoin's price has recently rebounded from a seven-month low, hovering around $87,000 after a brief dip to $81,000, igniting discussions about whether this signals a market bottom or a potential trap for investors. Analysts are closely monitoring on-chain data and macroeconomic indicators to gauge future movements.

Polymarket has received official authorization from the U.S. Commodity Futures Trading Commission (CFTC) to operate as a fully regulated prediction market platform in the United States, marking a significant milestone for the company. This approval allows Polymarket to resume its operations after a period of regulatory uncertainty.

Stellar's token has surged by 2.3%, breaking through the critical resistance level of $0.2460, driven by increased institutional flows and a notable rise in trading volume. This movement indicates a significant accumulation trend above the seven-day average, suggesting a potential shift in market dynamics.

Polymarket has received regulatory approval to operate its trading platform in the United States, coinciding with the US Senate's impending vote on Michael Selig's nomination as the new chair of the Commodity Futures Trading Commission (CFTC), replacing acting chair Caroline Pham.

Filecoin's price surged by 9% as it broke a downtrend, indicating a potential shift in market dynamics. This strong price movement occurred on below-average trading volume, suggesting a cautious but optimistic sentiment among investors.

U.S. Bank, the fifth-largest commercial bank in the U.S., is testing the issuance of custom stablecoins on the Stellar Network, marking a significant exploration of how traditional banking can integrate with public blockchain technology. This initiative reflects a growing interest in digital currencies among established financial institutions.

The price of TON has pulled back after an initial rally driven by the expansion of the Telegram ecosystem, with trading activity declining sharply as traders focus on key support levels near $1.50. This shift indicates a waning interest from buyers following a brief surge in demand.

Polymarket has received approval from the Commodity Futures Trading Commission (CFTC) to operate its prediction market platform in the United States, marking its official return under full regulatory compliance. This development follows a period of uncertainty regarding the regulatory landscape for cryptocurrency platforms in the U.S.