Bitcoin struggles to find footing as global stocks rebound along with gold and bonds

Bitcoin is down over 10% in November, pacing for its worst monthly drop since November 2022, when FTX collapsed. It’s trading at $87,986 after rebounding from Friday’s $80,553 low.

Gold is hovering near $4,051.69, down 0.3%, after paring Friday’s losses triggered by cautious Fed talk. Oil prices are flat, with Brent at $62 and WTI at $58, following the biggest weekly loss since early October.

U.S. stock futures are rebounding: Dow +124 pts, S&P 500 +0.52%, Nasdaq +0.75%, even after the S&P 500 fell 2% last week, Nasdaq dropped 2.7%, and Dow slipped 1.9%. For November, the Nasdaq is down 6.1%.

Rate cut bets are ramping up: Traders now see a ~70% chance the Fed cuts rates by 25 bps on Dec. 10, up from 44% last week, per CME FedWatch. A cut would bring the Fed’s benchmark rate below the current 3.75%–4.00% range.