The U.S. third-quarter GDP was revised down to 4.9%, and core inflation was revised down. Today, the U.S. released data showing that the final annualized quarterly rate of GDP in the third quarter was 4.9%, lower than the expected value of 5.20% and lower than the previous value of 5.20%. The final quarterly rate of personal consumption expenditures in the third quarter was 3.1%, lower than the expected value of 3.6% and lower than the previous value of 3.6%. The final annualized quarterly rate of the core PCE price index in the third quarter was 2%, lower than the expected value of 2.30% and lower than the previous value of 2.30%. In addition to the downward revision of GDP and the core PCE price index in the third quarter, it will be more difficult for the Federal Reserve to refute the market's expectations of a rate cut. The Federal Reserve's interest rate cut in 2024 has increased to about 154 basis points.

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The Federal Reserve's 12 regional banks adopt a unified transparency and accountability system. The transparency policy will take effect on January 1, 2024 and apply to media and public requests for Fed records. According to data from the U.S. Senate Public Records Office, lobbying activities against crypto stablecoins surged in the first three quarters of 2023, with 161 lobbying disclosure reports mentioning stablecoin legislation or regulation, an increase of 79% from the 90 reports that mentioned the topic in the first three quarters of 2022. The British government said that its Digital Securities Sandbox (DSS) program has received a warm response, and it plans to continue working with the financial services and technology industries to develop the necessary legislation to pave the way for digital securities to achieve its vision of becoming the center of the crypto industry. The Hong Kong Securities and Exchange Commission warned the public to beware of entities operating under the names of "LonShix" and "Bitbank (Global) Financial Holding Group" respectively, which are suspected of engaging in fraudulent activities claiming to be related to virtual assets. Social incentive network Claim announced the completion of a $4 million seed round of financing, led by Sequoia Capital. Anthropic, an artificial intelligence company backed by FTX, will raise $750 million in a deal led by Menlo Ventures, with Anthropic valued at $15 billion. SOL's market value hit a 20-month high of $33.7 billion, surpassing XRP to become the fifth largest cryptocurrency. Solana's daily DEX trading volume exceeded $1.2 billion, surpassing ETH for the second time in history. CryptoSlam data shows that the NFT transaction volume on BTC in the past month has reached $730 million, exceeding the $388 million transaction volume on the ETH chain, ranking first.

Etherscan shows that 95% of the transaction activities on the main EVM chain in the past few weeks are inscriptions. Grayscale GBTC negative premium rate narrowed to 7.57%; ETH Trust negative premium rate is 13.36%. CryptoQuant report said that the demand for BTC from multiple spot ETFs in the United States, the upcoming halving, and the growth of the broader stock market against the backdrop of interest rate cuts may push BTC to a high of $160,000, and the bull market may start in 2024. Grayscale survey shows that about 73% of voters said that US presidential candidates should have a sensible view on innovative technologies including cryptocurrencies, 40% of investors said that their future portfolios will contain cryptocurrencies, and young voters such as Generation Z and Millennials own more cryptocurrencies than stocks, and most of them agree that "cryptocurrency and blockchain technology are the future of finance." TechCrunch reported that recently, driven by the rise in BTC and ETH prices, people's interest in cryptocurrencies has surged, and cryptocurrencies are rebuilding momentum. Many industry insiders believe that the valuation of crypto startups may be "promising" again next year. In 2023, most people seem to have finally understood that we are in a new market, and the thinking and behavior of the investor class are more rational than before. The US GDP in the third quarter was revised downward to 4.9%, and the core PCE price index was revised downward to 2%. A series of downward revisions to economic data have consolidated the Fed's interest rate cut prospects. The US 10-year Treasury yield fell to 3.84%, and the US dollar index fell below the 102 mark, hitting a low of 101.82. The Fed's interest rate cut in 2024 has increased to about 154 basis points.

According to the Barclays report, the Fed's shift to dovish monetary policy has been a bullish signal of strong stock market performance over the past 40 years, which often paves the way for new highs in the stock market. Citi said that the rise in the US stock market is showing signs of fatigue, and investors should be prepared to buy on dips. The S&P 500 index will close at 5,100 points next year, up 8.5% from the current level. Representatives from Nasdaq, BlackRock and the U.S. Securities and Exchange Commission (SEC) met for the second time in a month to discuss the rule changes required for the listing of spot BTC ETFs, and detailed the requirements for initial and continuous listings. BlackRock, an asset management institution that manages $9 trillion in assets, regards the approval of its spot BTC ETF by the SEC as a key priority for the company. BlackRock founder Larry Fink called BTC "an international asset" and "a means of storing value" comparable to the long-term status of gold. In early January, it is necessary to keep an eye on the progress of spot ETFs. Before January 10, there is a high probability that spot ETFs will be approved to help the bull market in 2024. If the SEC rejects the spot ETF, it may be a black swan, and the probability is very small. Two institutions (Hashdex and Bitwise) that applied for Bitcoin spot ETF are already preparing TV and online ads. After Bitcoin spot ETF is approved for listing on Nasdaq, it may break the current phenomenon of seven giants in the US stock market led by Apple and Microsoft, and become the eighth giant. Currently, Apple's market value is 3 trillion US dollars, Microsoft's market value is 2.75 trillion US dollars, and Bitcoin's market value is 0.85 trillion US dollars. The bull market still has a long way to go, and the "flood" will flood the next two years of the bull market. Come on. #BTC