According to The Block: Bitcoin and Ether experienced significant declines on Monday morning, with Bitcoin dropping 16.53% and Ether falling 23.75%. This selloff brought Bitcoin to its lowest level since February, trading at $49,883, and Ether to its lowest level since January, trading at $2,186. The broader cryptocurrency market saw a decline of 18.2%, with major tokens like BNB and XRP also experiencing significant losses.Key Factors Behind the DropSeveral factors contributed to the market's downturn:Market Sentiment: The selloff appears to be led by Ether, as large investors unwind their positions in the Grayscale Ethereum Trust (ETHE) amidst growing uncertainty.Economic Data: Recent payroll numbers revealed only 114,000 jobs added, stoking fears of a recession. This news, combined with significant stock market declines, including a 2.43% drop in the Nasdaq and a 1.84% drop in the S&P 500, added to market anxiety.Global Market Reactions: Japan's Nikkei 225 and Topix indices dropped around 7% amid rising concerns about global economic conditions.Jump Crypto Activity: Over the weekend, Jump Crypto moved large amounts of crypto assets, including Ether and USDT. Speculation suggests this may be linked to a U.S. Commodity Futures Trading Commission investigation, potentially indicating a broader market exit.US Election ImpactUncertainty surrounding the upcoming U.S. presidential election also weighs on the crypto market. Vice President Kamala Harris has seen increasing approval ratings, while former President Donald Trump, a known crypto supporter, sees declining influence. The addition of David Plouffe, a former Binance advisor, to Harris's campaign team signals potential engagement with the crypto community, though investor sentiment currently favours Trump.Market OutlookInvestors are closely monitoring the Jump Trading situation, election developments, and potential market corrections. With economic and political uncertainties looming, the crypto market's near-term outlook remains uncertain.

Market participants' expectations can be very shaky, as confirmed after the Federal Reserve's latest meeting ended. What information made things so much worse?
The expectations of market participants in financial markets are indeed shaky when information comes to light that was not so much anticipated before.
Of course, the form in which this information is presented also matters. The last Federal Reserve meeting was not so much a turning point in principle, but information was presented that significantly dampened previous optimism.
The monetary policy decision of the US central bank included an economic projection with the key outlook of each central banker for the coming years.
As already mentioned, this was not really anything new. The Fed cut the key interest rate by the expected 0.25 percentage point and the projection was not ground breaking at first glance.
However, the subsequent press conference with Chairman Jerome Powell caused more sobering news.
It was the worst trading day of the year for the overall stock market. We did see slightly deeper declines in August, but this time the net loss for the trading day was more than 3%.
Once similar panic selloffs occur, they normally continue for some time before the market drops to a point where it can gain a foothold.
Why did stock markets face the biggest drop of the year?
To understand the whole situation, we first need to look at the economic projection for the period ahead. First of all, I want to focus on 2025, which is logically the key year.
I will not beat around the bush and we will focus on the most important things: The projection indicates a much higher level of interest rates for 2025.
Since the September projection, the median level has risen from 3.4% to 3.9%. The Fed is also counting on much higher headline and core inflation next year, which is well above the inflation target on the whole.
The estimate for core inflation is 2.5%, up from 2.2%. Headline inflation is also projected to be 2.5% in 2025, up from 2.1%. Recall that inflation targeting is at 2%. Both estimates are therefore 50% above target.
The derivatives market immediately started to write the above, according to which the next cut in rates should come in June. Incidentally, the derivatives market is now prescribing only two cuts for next year. So just copying what the Fed has in its outlook.
However, the above had no effect on the financial markets. There will always be some volatility, but there will not immediately be a drop of more than 3% in the overall market.
So what exactly sent stocks and bitcoin down?
Jerome Powell mentioned during the press conference that rates will go down much more slowly next year. First of all, he acknowledged that the core component of inflation has been going sideways for a long time.
Core inflation in the CPI and PCE have been virtually unmoving for months, which represents so-called stickiness.
This is quite a complicating development for central bankers as they have to balance between the labour market and the price level (dual mandate).
This means micromanaging, trying to find a level of restriction that will secure the 2% inflation target in the long run without hurting the real economy.
In addition, he mentioned that inflation risk has risen. This particular piece of information is, in my view, the key source of concern that triggered the sell-off. It's as if he started shouting that interest rates quite possibly won't fall at all in 2025.
The financial markets, or equities, $BTC , gold, everywhere were counting on base rates falling noticeably below 4% in 2025.
Incidentally, the bitcoin canary initially wrote off just over 6% for Wednesday's trading day. The market therefore held up nicely compared to the overall market.
Only the decline continued and as of Friday afternoon, bitcoin has written off 13% from the high. It's still a price decline within the confines of a correction, but there is clearly a minor panic.
Conclusion
When one invests, one must think twice about why and what one puts the money earned into. And the worst thing ever is when someone carelessly squanders borrowed money.
But I hope there are no such people among my readers, because sooner or later hell will be yours.
Anyway, you have to keep your expectations within certain rational boundaries.
Once "everyone" is chiming in with a higher estimate for the price of bitcoin or for a stock index, no one should be surprised that these predictions don't come true. At least not in the short term.
Markets should be thought of as a complicated organism that is influenced in real time by a theoretically infinite number of variables.
It is therefore impossible to predict exactly how the market will evolve. However, some analysis is still better than investing on the advice of friends at work.
#BTCNextMove #BTC #BTCMarketPanic

#BTCMarketPanic #MarketDownturn

计算资源正在科技领域发展的重要燃料，而随着面向 Web3 的 DePIN 赛道的发展，计算资源正在进一步的得到合理的调配，在提升计算资源匹配质量的同时有望大幅降低价格。在该方向上，Melos Network 正在构建一个全新的范式，其一方面整合了优质的闲置计算资源，并以 MelosBoom 硬件音响作为入口让更广泛的用户参与到资源体系的调配中，另一面其也是一个 Web3 计算资源堆栈的聚合层，能够让计算资源需求者与这些堆栈更合理的进行匹配。

在 Melos Network 网络中，以智能硬件音响 MelosBoom 形态为基础的 DePIN 硬件是网络中的重要节点角色，不仅是网络中交易的共识者，同时也是用户参与到网络中贡献计算资源、贡献个人数据、参与 Staking 的重要入口。MelosBoom 持有者可以通过上述多种方式通过为网络做出贡献而获得激励，即开箱接入网络即挖矿。

MelosBoom：捕获前沿科技领域发展红利的入口

MelosBoom 本身是一个智能硬件音响形态，其本身具备目前市面上主流硬件音响的所有功能。但不同点在于，MelosBoom 本身也具备一个特别研发的 AI Agent 的智能芯片“Boom Chip”，其具备一定的计算能力，能够最大限度的发挥硬件设备在 Melos 网络交互中的性能优势，即类似于 Asic 芯片能够最大程度适应 BTC 网络一样。用户可以通过 MelosBoom 硬件音响接入 Melos Network 网络中成为节点，并能通过多重方式捕获收入。

MelosBoom 适用较为广泛的用户群体，具备开箱即挖矿的特点。从普通用户的角度看，用户使用 MelosBoom 硬件音响进行获取服务，比如听音乐、AI 对话等，可以向网络中贡献用户数据，这些数据将用于 AI 训练等诸多方向。系统会根据用户的个人贡献度，来为其分配网络节点额外的收益。

与此同时，用户还可以深入的参与到网络计算资源体系中，并通过贡献资源的方式捕获收益。

用户可以接入 Melos Network 网络中成为共识节点，通过为计算资源网络进行共识做出贡献来获得收入。另一面，当更多用户期待使用自家设备参与闲置资源的算力供给时，依然可以通过 Melos Network 进行部署，此时用户将是网络中计算资源的贡献者，通过贡献算力来捕获收入。而上述两种方式中，都需要用户质押一定数量的 BOOM 通证，以保证网络节点的稳定和数据安全性。而对于将 BOOM 通证质押到网络中的用户，也会获得 Farming 收入。

可见无论是哪种方式，MelosBoom 用户都能做到无损挖矿，并能够低门槛的从前沿科技领域捕获红利。与此同时，MelosBoom 也正在推动全民 DePIN 的全新时代。

资源价值的资产凭证：BOOM 通证

Melos Network 会基于这些分散的计算资源，搭建一个算力聚合矿池，以面向所有需求者无需许可的接入到网络中使用资源。这些矿池服务，可以定向性的为开发者等供给计算，也可以自动化、自由化的方式进行分配。

而在该分布式的系统中，BOOM 通证是智能计算资源的代表性、凭证性资产。从计算网络的需求端看，任何具备计算资源需求的用户，都需要使用 BOOM 通证来进行支付。所以无论是从网络质押端看，还是从使用 BOOM 通证购买资源端看，都能有效的推动 BOOM 通证通缩，并对产出进行平衡。

向 DaaS 生态的深入拓展

构建一套以计算资源为核心的分布式供给体系，是 Melos Network 在 DePIN 领域早期的探索方向之一。而未来，Melos Network 生态会将这套体系向更广泛的资源供给体系拓展探索，即构建一套 DaaS 体系（DePIN as a Service），并能够支持一些需求者以模块化的方式构建 DePIN 层，潜在的示例包括 DeWi、带宽、存储等等。而开发者可以在 DaaS 体系中的 DePIN Mall 中获得模块化的支持。

在 DaaS 体系中，MelosBoom 硬件音响节点仍旧扮演同样的角色，即作为底层的共识者、资源的贡献管道。而 BOOM 通证则仍旧是协议通证设计，用于协议、网络消耗全部用使用 BOOM 通证。

所以从长期看，Melos Network 生态作为 DePIN 赛道长期发展容器，将不断凸显价值且具备极高的发展上限。而对于 MelosBoom 用户、BOOM 通证质押者、持有者等角色，也都会随着 Melos 生态的长期发展与拓展，而持续获得收益的预期。

计算资源正在科技领域发展的重要燃料，而随着面向 Web3 的 DePIN 赛道的发展，计算资源正在进一步的得到合理的调配，在提升计算资源匹配质量的同时有望大幅降低价格。在该方向上，Melos Network 正在构建一个全新的范式，其一方面整合了优质的闲置计算资源，并以 MelosBoom 硬件音响作为入口让更广泛的用户参与到资源体系的调配中，另一面其也是一个 Web3 计算资源堆栈的聚合层，能够让计算资源需求者与这些堆栈更合理的进行匹配。

在 Melos Network 网络中，以智能硬件音响 MelosBoom 形态为基础的 DePIN 硬件是网络中的重要节点角色，不仅是网络中交易的共识者，同时也是用户参与到网络中贡献计算资源、贡献个人数据、参与 Staking 的重要入口。MelosBoom 持有者可以通过上述多种方式通过为网络做出贡献而获得激励，即开箱接入网络即挖矿。

MelosBoom：捕获前沿科技领域发展红利的入口

MelosBoom 本身是一个智能硬件音响形态，其本身具备目前市面上主流硬件音响的所有功能。但不同点在于，MelosBoom 本身也具备一个特别研发的 AI Agent 的智能芯片“Boom Chip”，其具备一定的计算能力，能够最大限度的发挥硬件设备在 Melos 网络交互中的性能优势，即类似于 Asic 芯片能够最大程度适应 BTC 网络一样。用户可以通过 MelosBoom 硬件音响接入 Melos Network 网络中成为节点，并能通过多重方式捕获收入。

MelosBoom 适用较为广泛的用户群体，具备开箱即挖矿的特点。从普通用户的角度看，用户使用 MelosBoom 硬件音响进行获取服务，比如听音乐、AI 对话等，可以向网络中贡献用户数据，这些数据将用于 AI 训练等诸多方向。系统会根据用户的个人贡献度，来为其分配网络节点额外的收益。

与此同时，用户还可以深入的参与到网络计算资源体系中，并通过贡献资源的方式捕获收益。

用户可以接入 Melos Network 网络中成为共识节点，通过为计算资源网络进行共识做出贡献来获得收入。另一面，当更多用户期待使用自家设备参与闲置资源的算力供给时，依然可以通过 Melos Network 进行部署，此时用户将是网络中计算资源的贡献者，通过贡献算力来捕获收入。而上述两种方式中，都需要用户质押一定数量的 BOOM 通证，以保证网络节点的稳定和数据安全性。而对于将 BOOM 通证质押到网络中的用户，也会获得 Farming 收入。

可见无论是哪种方式，MelosBoom 用户都能做到无损挖矿，并能够低门槛的从前沿科技领域捕获红利。与此同时，MelosBoom 也正在推动全民 DePIN 的全新时代。

资源价值的资产凭证：BOOM 通证

Melos Network 会基于这些分散的计算资源，搭建一个算力聚合矿池，以面向所有需求者无需许可的接入到网络中使用资源。这些矿池服务，可以定向性的为开发者等供给计算，也可以自动化、自由化的方式进行分配。

而在该分布式的系统中，BOOM 通证是智能计算资源的代表性、凭证性资产。从计算网络的需求端看，任何具备计算资源需求的用户，都需要使用 BOOM 通证来进行支付。所以无论是从网络质押端看，还是从使用 BOOM 通证购买资源端看，都能有效的推动 BOOM 通证通缩，并对产出进行平衡。

向 DaaS 生态的深入拓展

构建一套以计算资源为核心的分布式供给体系，是 Melos Network 在 DePIN 领域早期的探索方向之一。而未来，Melos Network 生态会将这套体系向更广泛的资源供给体系拓展探索，即构建一套 DaaS 体系（DePIN as a Service），并能够支持一些需求者以模块化的方式构建 DePIN 层，潜在的示例包括 DeWi、带宽、存储等等。而开发者可以在 DaaS 体系中的 DePIN Mall 中获得模块化的支持。

在 DaaS 体系中，MelosBoom 硬件音响节点仍旧扮演同样的角色，即作为底层的共识者、资源的贡献管道。而 BOOM 通证则仍旧是协议通证设计，用于协议、网络消耗全部用使用 BOOM 通证。

所以从长期看，Melos Network 生态作为 DePIN 赛道长期发展容器，将不断凸显价值且具备极高的发展上限。而对于 MelosBoom 用户、BOOM 通证质押者、持有者等角色，也都会随着 Melos 生态的长期发展与拓展，而持续获得收益的预期。