According to Binance Research, crypto markets remain liquidity-driven, with liquidity funnels across stablecoins, ETFs, and DATs slowing in recent weeks (source: Binance Research on X, Nov 28, 2025). According to Binance Research, markets found relief as December rate-cut odds climbed to around 85 percent, highlighting digital assets’ sensitivity to macro liquidity expectations (source: Binance Research on X, Nov 28, 2025).