Key Notes

Coinbase sees December as the start of a crypto recovery.

The exchange highlighted that liquidity is improving as Fed cut odds reach 92%.

Bitcoin may be undervalued, according to analysts, following the November crash.

Leading crypto exchange Coinbase released a research report earlier today, noting that December opened with a major lift in global liquidity. The firm said that odds for a Federal Reserve rate cut rose to 92% by December 4, a development that could provide backing to a bounce in risk assets.

Its custom global M2 money supply index showed a clear recovery trend into late 2025, which is building on the expectation that a softer dollar environment would aid broader market momentum.

Coinbase previously talked about a likely positioning reset in October, with Nove

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