Important information in the cryptocurrency circle within 24 hours:
1. Analysts at Capital Economics said the Federal Reserve is more likely to continue to cut interest rates by 25 basis points next week as PPI and initial jobless claims data exceeded expectations.
2. Tether mints 1 billion USDT
3. Alipay refutes the rumor: "Alipay supports the purchase of cryptocurrency" is false news
4. Texas Republican Representative Submits Bill to Establish Bitcoin Strategic Reserve
5. Yesterday, ETHE had a net outflow of $22.8 million and BTC had a net inflow of $110.8 million
6. Avalanche completes $250 million in private equity financing, with participation from Galaxy Digital and others
7. Pro-crypto Congressman French Hill wins Financial Services Committee chairmanship
1. Microsoft CFO Amy Hood hinted that despite the rejection of Bitcoin reserves, the company may be interested in investing in other cryptocurrencies.
2. Donald Trump has been named "Person of the Year" by Time magazine for the second time, reflecting his significant impact on global affairs. To mark the occasion, Trump will ring the opening bell of the New York Stock Exchange.
3. Data shows that USDT on Ethereum has surpassed USDT on TRON, and the supply of USDT on Ethereum has increased by about US$20 billion in the past month.
The large-scale inflow of funds into the Ethereum ETF indicates that Ethereum's position among institutional investors has been further consolidated, and indicates that the crypto market is gradually moving towards higher maturity and compliance. This is undoubtedly a positive signal for the long-term development of the market.
Mainstream coin analysis
First of all, starting from the general direction, Bitcoin has re-broken through 98,600 and stabilized, and the trend has turned from chaos to order. As mentioned before, if it fails to break through 102,000 strongly, then the short-term will be viewed from a volatile perspective, with an overall range of 98,600-102,000, and the current position is mainly low-absorption.
After determining the general direction, we can then look at the small-level perspective. What is low-buying? Low-buying is a retracement at the medium level, but the small level has begun to stabilize and rebound. If the market is to rise, it must be in the process of rising.
When choosing a target, we have to mention the strength and weakness system. Generally, Bitcoin is used as a comparison point. ETH/BTC has been mentioned many times. Starting from the perspective of the exchange rate, it is found that the exchange rate trend is relatively strong, so ETH is chosen in the long scenario.
1. Market Trend
BTC fluctuated and fell, and eth etf inflow hit a new high this week. The market speculates on the old rather than the new. The old counterfeit coins rise and the new coins fall.
US stocks fell. The US industrial inflation PPI in November exceeded expectations. The market bet that interest rate cuts would be suspended in January next year, and it is expected that interest rate hikes may be postponed to March next year.
2. Market Hotspots:
1. The public chain ETH rose, and the DeFi projects LINK, AAVE, COW, and LDO rose sharply. The Trump family funds used the COW protocol to buy ETH, LINK, and AAVE. LDO is a trust application submitted by Grayscale. The DeFi projects that rose well in this round are mainly related to US politics and US compliance narratives.
2. Ava and Utk in the payment sector surged. Ava is a travel crypto payment platform, an old coin from 2017. CZ announced pre-pandemic investment, with annual revenue reaching $100 million.
3. The AI meme GOAT, Virtual, and FARTCOIN on the chain rose. GOAT was OK. The UROB of Desci on the chain rose sharply, and its market value exceeded RIF. The market value of the new DeFi coin HYPE on the chain reached 18 billion US dollars.
4. BN new currency sector led the decline, including me, move, usual, orca, acx, etc. The decline of usual is because the pre-market trading is over and the supply will increase significantly.
Market News:
1. According to professional analysis, the Federal Reserve is very likely to continue to lower interest rates next week, with a reduction of 25 basis points. This is because the latest PPI (Producer Price Index) and initial jobless claims data exceeded market expectations, indicating that there may be uncertainty in the economic situation.
2. Tether, an important stablecoin issuer, announced that it has minted an additional 1 billion USDT. This move will have a significant impact on the cryptocurrency market.
3. Alipay has officially refuted the rumor: "Alipay supports the purchase of cryptocurrency" is false information, please do not believe it.
4. Republican representatives from Texas submitted an important bill proposing the establishment of a strategic reserve of Bitcoin. This move may have a positive impact on the development of Bitcoin and its related industries.
5. Yesterday, ETHE had a net outflow of US$22.8 million, while BTC had a net inflow of US$110.8 million. This data reflects that the market’s confidence in Bitcoin is still strong.
6. Recently, Avalanche successfully completed a private placement financing of US$250 million, with well-known investment institutions such as Galaxy Digital participating in the financing. This move will further promote the development of Avalanche.
7. Congressman French Hill, who supports cryptocurrency, successfully won the chairmanship of the Financial Services Committee, which shows the importance and support for the cryptocurrency field at the policy level.
