Bitcoin price breaks through $40,000 | Binance Morning Report (December 4)

● Bitcoin price breaks through $40,000, Ethereum briefly breaks through $2,200

According to PANews, the price of Bitcoin exceeded $40,000 in the morning of December 4th in Eastern Time Zone 8. The price of Ethereum briefly exceeded $2,200.

● Bitcoin market value returns to the top 10 global assets

According to TechFlow, the latest data from 8marketcap shows that Bitcoin has surpassed Berkshire Hathaway and returned to the top 10 assets/companies in the world by market value. As the price has risen above $40,000, the market value of Bitcoin has risen to $784 billion, ranking 10th in the global asset market value ranking.

● The holdings of addresses holding at least 1,000 BTC hit a new high since December 2022

IntoTheBlock data shows that the number of tokens held by whale addresses holding at least 1,000 BTC this week hit a new high since December 2022.

● Solana's total locked-in value has risen above US$690 million, a new high this year

According to DefiLlama data, Solana's total locked volume (TVL) has rebounded to over US$690 million, reaching a new high since 2023.

● Binance CEO Richard Teng: The team has key talent to focus on compliance

According to Cointelegraph, Binance will pay great attention to compliance. In an interview, Binance CEO Richard Teng said that the company has invested a lot of money in this regard, and the key talents of the compliance team have backgrounds in regulatory agencies such as the U.S. Securities and Exchange Commission and traditional financial institutions such as Morgan Stanley and Barclays.

● Spot gold hits a record high, weaker US economic data boosts expectations of rate cuts

According to Jinshi, boosted by weak US economic data and dovish comments from Federal Reserve officials, spot gold's short-term gains expanded to over $60 after opening on Monday, setting a record high. Eamonn Sheridan, an analyst at the financial website Forexlive, said this was because the market's prospects for future Fed rate cuts were stimulating investors to buy gold in large quantities. Investors are currently betting that the Fed will cut interest rates early next year.

● Viewpoint: This week, focus on US non-farm payrolls and unemployment data

According to Wu, the core PCE in the United States cooled down last week in October. This week, we will focus on the non-farm employment and unemployment data to be released in the United States. The labor market will affect the Fed's subsequent policy path. Last week, the revised annualized quarterly rate of real GDP in the third quarter of the United States was 5.2%, the fastest growth rate in nearly two years. The core PCE in the United States slowed to 3.5% in October, in line with expectations. China's official manufacturing PMI fell to 49.4 in November, lower than expected. China's Caixin Manufacturing PMI in November was 50.7, a three-month high. The eurozone's November CPI annual rate was 2.4%, far lower than the previous value of 2.9% and lower than the expected value of 2.7%.

Key events this week include China's Caixin Services PMI for November, the Reserve Bank of Australia's interest rate decision, the UK, France, Germany, the US and the eurozone's Services PMI for November, the US ADP employment in November, the US unemployment rate in November, the US non-farm payrolls in November, China's November CPI annual rate and China's November M2 money supply annual rate.