Unveiling the truth behind today's market crash, let's look at the latest major events in the crypto world!
1. Grayscale's two products, GBTC and ETHE, saw a significant outflow of funds yesterday. GBTC had an outflow of $35.9 million, and ETHE experienced an outflow of $49.2 million, which is not a small amount.
2. In the past 24 hours, the entire crypto market experienced liquidations totaling $656 million, resulting in substantial losses. Liquidations of BTC and ETH each exceeded $100 million, and those who bought long positions have really taken a hit.
3. Jerome Powell from the Federal Reserve stated that they have no relationship with Bitcoin and do not intend to intervene or change the law.
4. Powell also mentioned that the Federal Reserve is considering slowing down interest rate cuts, stating that the extent and timing need careful consideration; today's interest rate decision is truly headache-inducing.
He added that if inflation does not return to 2%, the cancellation of policy restrictions will be gradual. The inflation indicator for November might rise to 2.8%, but the overall economy is doing well, and inflation is nearing the 2% target.
5. Some analysts say that there are differing opinions within the Federal Reserve regarding the neutral interest rate level, with each having their own views.
6. U.S. interest rate futures indicate that the probability of the Federal Reserve not changing rates in January is very high, over 90%, making this expectation quite stable.
7. The Federal Reserve's annual interest rate decision for 2024 has been released, lowering the benchmark rate by 25 basis points to a range of 4.25%-4.50%, consistent with expectations and marking the third consecutive rate cut.
8. A new address withdrew 687,000 PENDLE from Binance for staking, valued at $4.26 million, truly a significant move.
9. The company Plume has completed a $20 million Series A funding round, showing impressive growth momentum.
10. There's another big news item: 2,957 BTC and 7,572 ETH were transferred from Cumberland to Coinbase Institutional, making this capital flow quite perplexing.
Are you stuck in a position? When is the right time to buy the dip? As always, if you're feeling lost and helpless about what to do, click on my profile and follow me.
