On Friday, U.S. data showed that the annual PCE price index for November was 2.4%, lower than the expected value of 2.50% and higher than the previous value of 2.30%; the core PCE price index for November was 2.8%, lower than the expectation of 2.90% and unchanged from the previous value of 2.80%. The monthly PCE price index for November was 0.1%, and the core PCE price index for November was also 0.1%, both lower than previous and expected values. The preliminary one-year inflation rate expectation for December is 2.8%, lower than the previous value of 2.90%. The PCE inflation favored by the Federal Reserve unexpectedly cooled down across the board, and U.S. stock indices and the cryptocurrency market rebounded, with the market continuing to bet that the Federal Reserve will pause interest rate cuts in January and increase bets on rate cuts in March.

On Thursday, the Federal Reserve lowered interest rates by 25 basis points to a range of 4.25%-4.50%, marking the third consecutive rate cut, in line with expectations. In the three monetary policy meetings from September to December, a total of 100 basis points were cut, including one 50 basis point cut and two 25 basis point cuts. This meeting leaned toward hawkish rate cuts, reducing the expected number of cuts next year from four to two while cutting by 25 basis points. U.S. stock indices fell, with the Nasdaq down 2% at one point, the S&P 500 down 1.5%, and the Dow Jones down 1.2%.
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Derek Merrin, a member of the Ohio House of Representatives in the United States, proposed HB 703 (the Ohio BTC Reserves Act), which aims to grant the state treasury the power to purchase BTC in 'appropriate asset allocation,' but does not mandate the purchase of BTC. The statement indicates that the dollar is rapidly depreciating, and Ohio must embrace technology to protect tax revenue from erosion. The European Securities and Markets Authority (ESMA) has released final guidance to assist member states in implementing upcoming regulations. The EU's specific regulation for the cryptocurrency industry, known as the Markets in Crypto-Assets (MiCA), is set to take effect on December 30 across 27 member states. ESMA Chief Verena Ross stated: Looking ahead, as the transition period progresses, we will continue to provide guidance and work with all National Competent Authorities (NCAs) to ensure the smooth implementation of MiCA and support a fair competitive environment through regulatory convergence actions. (Wall Street Journal) reports: The AI unicorn Databricks completed a $10 billion Series J financing round with a valuation of $62 billion, led by Thrive Capital. Santiment released data showing that there are currently 104 whale addresses holding at least 100,000 ETH, accounting for 57.35% of all existing ETH, worth approximately $333.1 billion. On December 18, MtGox-related addresses sent 1,130 BTC to two addresses. BitME co-founder Arthur Hayes stated that the cryptocurrency market will experience a downturn around the time of Trump's inauguration on January 20, 2025. If the market breaks through around January 20, he will acknowledge his prediction error and will re-enter after licking his wounds.

This week is the last "super central bank week" of the year in Europe and the U.S., with several central banks including the Federal Reserve, Japan, the UK, and Sweden holding meetings in the same week. The probability of the Federal Reserve cutting rates by 25 basis points in December is 96%. Market focus has shifted to the content of Fed Chair Powell's speech and the latest economic projections, providing guidance for the direction of Fed monetary policy in 2025.
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CoinDesk reports that the UK Financial Conduct Authority (FCA) stated in a document released on Monday regarding the upcoming cryptocurrency regulatory framework that new legislation will prohibit public offerings of cryptocurrencies. This measure will be implemented based on existing rules in the UK, which prohibit unregistered cryptocurrency companies from promoting to UK customers. Only cryptocurrency trading platforms and related issuances that meet exemption criteria may be exempt from this restriction. The policy is still seeking industry feedback, especially regarding market access, information disclosure, and market abuse. This is one of several documents released by regulators in preparation for the cryptocurrency regulatory framework. Scripps News reports that the FBI's 2023 cryptocurrency fraud report indicates that complaints related to cryptocurrencies account for only about 10% of total financial fraud complaints, but the amount stolen accounts for nearly 50% of total losses. Coinglass data shows a cumulative net outflow of 37,708.42 BTC from CEX in the past 7 days. Santiment data shows that miners have sold over 140,000 BTC so far in December. DefiLlama data shows that the total market value of stablecoins has reached $192.7 billion, with an increase of 2.52% in the past week. The American financial services company Robinhood's 2024 year-end report shows that by November 2024, the value of cryptocurrency held by Robinhood was $38 billion, with the number of cryptocurrencies increasing to 20. Bloomberg reports that approximately 30 payment companies have obtained digital token service licenses issued by the Singapore central bank, and about 40% of Singapore investors own cryptocurrencies. With Trump returning to the White House and promising to open a new era that supports cryptocurrencies, it may bring returns to Singapore in 2025. Bitfine's report states that BTC has risen 130% year-to-date, and the current bull market reflects strong institutional demand, primarily driven by ETF and spot accumulation.

On the 12th, the European Central Bank lowered interest rates by 25 basis points as expected, marking the fourth rate cut this year, bringing the deposit rate down by 25 basis points to 3%, while removing the language about maintaining "restrictive" rates, thus opening the door for further rate cuts next year. On the 12th, the Swiss National Bank unexpectedly cut rates significantly by 50 basis points, with the market expecting a 25 basis point cut. On the 11th, the Bank of Canada cut rates by 50 basis points. The Fed's counterparts have all turned dovish, adding expectations for rate cuts next year in their statements.
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CNBC reported that Texas State Representative Giovanni Capriglione announced a proposal for legislation to establish a BTC strategic reserve, which will serve as a pilot program for the U.S. Treasury. The proposed bill would allow the state to begin building a strategic BTC reserve, receiving tax revenues, fees, and donations in BTC, which would be held for at least five years. The bill aims to provide a pathway to strengthen U.S. fiscal stability and make it a leader in BTC innovation. Arkansas Congressman French Hill leads three other competitors to win the position of head of the U.S. Financial Services Committee. French Hill is a cryptocurrency supporter and stated in a July interview on the Unchained podcast that "stablecoin and market structure legislation" would be the two bills he most wants to pass after taking office. CoinShares research reported that the average cash mining cost of publicly listed mining companies for BTC rose to $55,950 in the third quarter, a 13% increase from $49,500 in the second quarter. If non-cash costs such as depreciation and stock-based compensation are included, the average mining cost would reach $106,000. The U.S. publicly listed company Exodus Movement announced that it holds over 1,900 BTC and more than 2,660 ETH. Greekslive researcher Adam stated that this week's market is primarily focused on adjustments, and the trading heat in Europe and the U.S. during Christmas has always declined significantly in previous years. This year, the impact of U.S. stock markets on cryptocurrency is rising, and this phenomenon may become more pronounced. Data from the options market in the past two cycles has consistently shown that market makers are relatively cautious. CNBC reporter Jim Cramer asked Trump during a television interview, "Are you still embracing cryptocurrencies and considering establishing a BTC strategic reserve in the crypto field?" Trump responded, "I think so; we want to do great things with cryptocurrencies. Other countries are embracing it, and we want to be leaders."

On Wednesday, US announced data showing: November CPI year-on-year at 2.7%, meeting the expected value of 2.7%, up from the previous value of 2.60%; November core CPI year-on-year at 3.3%, meeting the expected value of 3.3%, unchanged from the previous value of 3.30%. The CPI data met expectations, and the market overall rebounded, with the Nasdaq index first breaking through 20,000 points, refreshing its historical high, with a cumulative increase of over 33% this year. The S&P 500 index rose by 0.85% during the session. Tesla's stock price surpassed the peak of $414.49 in November 2021, creating a new historical high, with a daily increase of about 4.5%. The probability of the Fed cutting rates by 25 basis points in December rose to 97.7%, with a cumulative probability of a 50 basis point cut by next January at 27.1%. On Thursday, the European Central Bank will announce its interest rate decision, with the market expecting a 25 basis point cut this time, and the market anticipates a 158 basis point cut by the ECB in 2025.

Last week, U.S. stock market benchmarks, including the S&P 500 index, Nasdaq, and BTC all reached historical highs; on Monday, U.S. stock indices opened lower, with the S&P 500 down 0.4%, Nasdaq down 0.42%, and BTC down 1.5%. This Wednesday, the CPI data released by the U.S. is a decisive factor for the Fed's rate decision this month, with the market expecting an 85% chance of a 25 basis points rate cut by the Fed on December 18.
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Cointelegraph reported that the American National Public Policy Research Center, located in Washington D.C. (a free-market think tank and also a shareholder in Amazon), has submitted a shareholder proposal to Amazon, advocating for the adoption of BTC as a treasury strategy at the shareholder meeting in April 2025. Nick Tomaino, founder of 1confirmation, stated that currently, 22 countries and regions including Germany and Singapore exempt cryptocurrencies from capital gains tax, and this list is growing. The U.S. must join to maintain its leading position in innovation and wealth. Polymarket's prediction for ETH reaching a new all-time high this year has risen to 32%, compared to 8% in November. Coinglass data showed a cumulative net outflow of 12,954.06 BTC from CEX over the past 7 days. Analyst Maartunn noted that since November 8, long-term BTC holders have sold 827,783 BTC, valued at approximately $8.259 billion. During the same period, MicroStrategy purchased about 149,800 BTC. Spot BTC ETFs had an inflow of 84,193 BTC. Deribit data indicated that last week, the buying sentiment for BTC spot ETFs remained strong, with an overall net inflow of $2.775 billion, accumulating 28,606.26 BTC. BlackRock absorbed 26,880.87 BTC in a single week, while Grayscale reduced its holdings by 3,113.12 BTC, with other institutions maintaining a net inflow. Matrixport stated that while stablecoin-related indicators are still at relatively high levels over the past 12 months, weekly inflows have significantly declined from a peak of $8 billion to $4 billion, which may indicate that the market is entering a prolonged consolidation period, especially during the typically quieter Christmas holiday period. They remain optimistic about the market performance in 2025, expecting BTC prices to rise steadily, but short-term gains may moderate.

U.S. data on Friday showed that non-farm payrolls in November were 227,000, higher than the expected value of 200,000, and the previous value was revised from 12,000 to 36,000. The unemployment rate in November was 4.2%, in line with expectations and higher than the previous value of 4.10%. The probability of the Federal Reserve cutting interest rates by 25 basis points in December has risen to 85%, compared with 67% before the release of the employment report. The three major U.S. stock indexes all hit record highs this week.
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Trump appointed PayPal co-founder David Sacks as the "White House Artificial Intelligence and Cryptocurrency Affairs Director". David will formulate policies for the current US government in the fields of artificial intelligence and cryptocurrency, both of which are critical to the future economy of the United States. In his appointment letter to David Sacks, Trump stated that Sacks will work to establish a legal framework that will give the cryptocurrency industry the clarity it has always demanded and enable it to thrive in the United States. Analysis pointed out that David Sacks is expected to help lead the way in achieving Trump's campaign promise to relax regulation of the cryptocurrency industry. This position is expected to provide cryptocurrency advocates with a direct channel to the White House and serve as a liaison between Trump, Congress, and federal agencies related to digital assets, including the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission. Andrei Grachev, co-founder of DWF Labs, said that AI agents and DeSci seem to be the next hot topics, both of which are aligned with the global AI/technology FOMO. On December 6, the MtGox address sent 3,619 BTC to two addresses. Mizuho Securities strategist Shoki Omori pointed out that if BTC is to rise further from here, other cryptocurrencies should catch up first, and the altcoin market may make up for the rise. Analyst Armando Pantoja predicts that retail investors will return to the cryptocurrency market. Retail investors have been absent from the crypto market for two years and will re-engage in it, especially Musk is good at subtly hinting his love for DOGE, and Musk's behavior usually becomes a catalyst for the market.

On Thursday, U.S. stock indices, the S&P 500 and Nasdaq hit new intraday highs, with the S&P 500 rising to 6094 points and the Nasdaq rising to 19790 points. The market anticipates Friday's data, with November's U.S. unemployment rate expected to rise from the previous 4.1% to 4.2%. The likelihood of a 25 basis point rate cut by the Fed on December 18 has risen to 75%. The bull market adheres to norms.
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Trump has nominated Paul Atkins to be the next head of the U.S. Securities and Exchange Commission (SEC). Paul Atkins recently expressed the desire to have Republican commissioner Hester Peirce lead cryptocurrency policy alongside her Republican colleague Mark Uyeda. Hester Peirce is known as 'CryptoMom' and hopes to lead a cryptocurrency working group to reassess the agency's regulatory approach to digital assets and establish open dialogue with the industry. With the conclusion of the U.S. House elections, the Republicans secured 220 seats, while the Democrats obtained 215 seats. The Republican party is the one to which Trump belongs. OpenAI announced that it will hold 12 product launches in 12 days, with CEO Sam Altman stating that starting at 10 a.m. local time on Thursday morning, there will be a live stream every weekday showcasing a new product or sample, including one major new product. Reuters reports that Elon Musk's AI startup xAI plans to expand its supercomputer in Memphis, Tennessee, to accommodate at least 1 million graphics processing units (GPUs), as xAI strives to compete with OpenAI and others. Musk stated: 'Nope, at least 1 billion GPUs!' On December 5, MtGox transferred 3,820 BTC and 24,051.75 BTC to a new address. NASDAQ-listed mining company MARA Holdings completed an $850 million convertible preferred note issuance on December 4, primarily for the purchase of BTC and general corporate purposes.

The total U.S. national debt has exceeded $36 trillion, a new high, and it took only three months to increase by $1 trillion. Morgan Stanley expects that the strength of the U.S. dollar will peak before the end of the year, and will then enter a bear market pattern and slowly decline in 2025. The U.S. dollar and so-called risk assets tend to have an inverse relationship. On Monday, the Dow Jones stock index futures hit a record high and are currently up 0.6%, and the bull market has resumed.
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According to the latest report released by the Federal Budget Accountability Committee, an independent research organization in the United States, the total U.S. national debt has exceeded $36 trillion this week, reaching a record high. It took just over three months from the end of July this year, when the total U.S. national debt reached $35 trillion, to now rise to $36 trillion. ECB Governing Council member Kazaks said: Judging from the current situation of the European economy, interest rates must be cut again in December. The ECB has cut interest rates three times and is expected to cut interest rates again next month. The PMI data released last Friday showed that the eurozone private sector economy unexpectedly contracted, and the market bet that the bank may further cut interest rates by 50 basis points. According to the Bloomberg Billionaires Index, Musk's net worth has increased by 52% since the beginning of this year. As of November 22, his total assets reached $347.8 billion, a record high. According to Polymarket's BTC price forecast for this month, the probability of BTC reaching $110,000 this month is 12%, and the probability of reaching $105,000 is 32%. BitMEX co-founder Arthur Hayes predicts that BTC may reach $100,000 by the end of this year and $250,000 by the end of 2025. He advises people who are experiencing a bull market for the first time to remain rational and cash out in time. If you always hold the emotion of "I can make more money", you will eventually lose the wealth you already have! Rick Wurster, president of Charles Schwab Corp., said in an interview with Bloomberg Radio: Once U.S. regulations allow, the company will consider offering spot cryptocurrency trading. When the U.S. regulatory environment changes, the company will enter the spot cryptocurrency field. It is expected to change and is preparing for this possibility.

The US Securities and Exchange Commission (SEC) stated: SEC Chief Gary Gensler will leave on January 20. Fox News reported that former Commodity Futures Trading Commission (CFTC) chief Chris Giancarlo is expected to take over as SEC chief. Chris Giancarlo is one of the founders of the Digital Dollar and has emphasized the importance of these emerging technologies and financial instruments for the future. The Nasdaq index rose by 0.3%, the S&P 500 index increased by 0.7%, and the Dow Jones index rose by 1.4%.
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The US Securities and Exchange Commission (SEC) announced: SEC Chief Gary Gensler will leave on January 20. Fox News reported that former Commodity Futures Trading Commission (CFTC) chief Chris Giancarlo is expected to take over as SEC chief. Chris Giancarlo is one of the founders of the Digital Dollar and has deep insights into the development of Web3 and digital currencies, having participated in various discussions regarding cryptocurrencies, Central Bank Digital Currencies (CBDCs), and stablecoins, emphasizing the importance of these emerging technologies and financial instruments for the future. Media reports suggest that the Trump team is discussing with the digital asset industry the establishment of a new position in the White House specifically responsible for cryptocurrency policy, with the Trump team reviewing candidates for this role. Discussions regarding this position include leading a small team and acting as a liaison between Congress, the White House, and various agencies with jurisdiction over cryptocurrencies, including the SEC and the CFTC. FOX Business reporter Eleanor Terrett stated that negotiations between SEC staff and issuers wishing to launch SOL spot ETFs 'have made progress', with the SEC currently processing the S-1 application for the SOL spot ETF. It is highly likely that in the coming days, exchange representatives will submit some 19b-4 documents, which is the next step in the ETF approval process. ETF issuers indicated that the Solana ETF may be approved sometime in 2025.

Bitcoin hits new high. NVIDIA will announce its third quarter financial report after the US stock market closes on Wednesday. As the largest publicly traded company by market capitalization in the world, its impact on the US stock market may surpass that of US employment data, inflation data, and even Federal Reserve meetings.
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Trump plans to meet with former Federal Reserve Governor Kevin Warsh and Marc Rowan of Apollo Global Management on Wednesday regarding the Treasury Secretary candidate. Coindesk reports that Trump's transition team is considering listing Teresa Goody Guillen, a partner at the law firm BakerHostetler and head of blockchain business, as one of the candidates for the next director of the US Securities and Exchange Commission. The Central Bank of Brazil (BCB) has launched the second phase of the Drex Central Bank Digital Currency (CBDC) pilot, focusing on building trade financing solutions using oracle and blockchain technology, with collaboration involving Microsoft, Chainlink, and Banco Inter. Bitwise CEO Hunter Horsley stated that options trading for Bitwise's BTC spot ETF BITB will begin tomorrow. Grayscale officially stated that options trading for its GBTC and mini BTC spot ETFs will begin tomorrow. CoinDesk reports that the listed mining company MARA Holdings (MARA) has increased its previously announced convertible preferred stock issuance from $700 million to $850 million, part of which will be used for BTC acquisitions, asset expansion, and general corporate purposes. CryptoQuant CEO Ki Young Ju stated that ETH/BTC NUPL has reached a four-year low. Although ETH has underperformed compared to BTC, ETH holders are incurring losses without realizing it, similar to the lows seen in early 2020.

Bitcoin hits a new high. Data from the Chicago Board Options Exchange shows that traders are betting that Nvidia's stock price will rise or fall by about 12% after the company announces its earnings on Wednesday. Goldman Sachs economists predict that the Federal Reserve will lower interest rates consecutively in December, January, and March, followed by quarterly rate cuts in June and September, with expectations that the Fed will stop tapering in the first quarter of 2025. Goldman Sachs' baseline macro outlook expects the S&P 500 index to rise to 6,500 points by the end of 2025.
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According to a report by the UK (Financial Times): Trump's social media company is in deep negotiations to acquire the cryptocurrency trading platform Bakkt, which is owned by the Intercontinental Exchange. The company is working to expand its business beyond online dialogue and is nearing a full-stock acquisition of Bakkt, although the valuation being discussed is currently unclear. US stock BKKT rose by 162% on November 18, triggering multiple trading halts, while Trump's Media Technology Group (DJT.O) rose over 14%. FOX reporter Charles Gasparino stated that while searching for a candidate for Treasury Secretary, Trump's team consulted with BlackRock CEO Larry Fink and at least one senior executive. The US Securities and Exchange Commission (SEC) approved the listing of multiple BTC ETF options products by Cboe Exchange and NYSE American. The US Options Clearing Corporation (OCC) announced that it is preparing to launch spot BTC ETF options, getting ready for the clearing, settlement, and risk management of these options, which will follow the new options listing process outlined in the options listing procedure plan. Data from the Chicago Board Options Exchange shows that traders are betting that Nvidia's stock price will rise or fall by about 12% after the company announces its earnings on Wednesday. Google data shows that on November 18, the Google search volume for "Memecoin" surged to an all-time high. The prediction on Polymarket for "BTC's highest price this month" indicates a 12% probability of reaching $110,000, a 20% probability of reaching $105,000, and a 67% probability of reaching $95,000.

Historically, the fourth quarter is generally better. Asset management giant BlackRock continued to increase its holdings of the seven largest U.S. technology companies in the third quarter, reporting a market value of $4.76 trillion, compared to $4.42 trillion the previous time. Berkshire Hathaway's total holdings fell from $280 billion to $266 billion. Nvidia will announce its third-quarter results after the U.S. stock market closes on Wednesday, and analysts expect the artificial intelligence chip leader to see a significant increase in revenue.
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JPMorgan analysts outlined six key regulatory and market changes in the crypto industry under the Trump administration, which may reshape the US cryptocurrency landscape under the Trump administration and its Congress. Several stalled cryptocurrency bills may be quickly approved, including the 21st Century Financial Innovation and Technology Act (FIT21), which may provide much-needed regulatory clarity for the crypto industry by clarifying the regulatory responsibilities of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The SEC's (Staff Accounting Bulletin No. 121) (SAB 121) that restricts banks from holding digital assets may be repealed. Clearer regulation may increase venture capital, mergers and acquisitions, and initial public offerings in the cryptocurrency sector, and strategic BTC reserves may push up BTC prices, but the likelihood of its passage is low. U.S. Senator Cynthia Lummis plans to push a bill when the new Congress takes office next year that requires the United States to purchase 1 million BTC, aiming to fill Trump's proposed strategic BTC inventory without increasing the government deficit, that is, selling some of the Fed's gold. At current market prices, the acquisition will cost about $90 billion, but if the bill is passed, the amount required for the acquisition may increase. Metaplanet, a Japanese listed company, announced that it will issue ordinary bonds totaling 1.75 billion yen to purchase BTC. The company currently holds 1,018.17 BTC. Michael Saylor, founder of MicroStrategy, initiated a vote on the X platform, "Will BTC break through $100,000 on New Year's Eve?" Currently, 58,608 users voted, with an approval rate of 85.2%.

US data on Thursday showed that the US PPI annual rate in October was 2.4%, higher than the expected value of 2.3%, and the previous value was revised from 1.8% to 1.9%. The US PPI monthly rate in October was 0.2%, in line with expectations of 0.2%, and the previous value was revised from 0% to 0.1%. The number of initial jobless claims in the week was 217,000, lower than the expected value of 223,000 and lower than the previous value of 221,000. After the release of PPI (one of the inflation indicators, the producer price index) and initial jobless claims data, US stock indexes opened lower, with the Nasdaq falling 0.5%. The market is still betting on the Fed to cut interest rates, and it is expected that the probability of the Fed's third rate cut at the December meeting is 82% (75% the day before).

The inflation data released by the United States on Wednesday showed that the annual rate of CPI in October was 2.6%, in line with the expected value of 2.6% and higher than the previous value of 2.4%. The annual rate of core CPI in October was 3.3%, in line with the expected value of 3.3%, and the same as the previous value of 3.3%. All the data of the US CPI in October were in line with expectations. The US stock index opened higher, the Nasdaq index opened up 0.3%, and the S&P 500 index opened up 0.35%. BTC reached $93,000, setting a new record high. The probability of the Federal Reserve cutting interest rates in December has risen to 75%.
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Trump said: Elon Musk will work with Vivek Ramaswamy to lead the Department of Government Efficiency (DOGE), cut excessive regulation, cut wasteful spending, and reorganize federal agencies, which is essential to "saving America" ​​and will eliminate the huge waste and fraud in the $6.5 trillion government spending each year. The U.S. Digital Chamber of Commerce urged U.S. lawmakers to pass stablecoin legislation immediately. Cody Carbone, director of the Digital Chamber of Commerce, expects stablecoin legislation to be on Trump's desk in 2025. He hopes that the report will inspire lawmakers and points out that other countries are also seeking to strengthen the use of stablecoins. In the first nine months of this year, the Hong Kong police received a total of 3,468 investment fraud cases involving approximately HK$2.2 billion. Nearly 40% of the cases involved financial investment products and 35% involved virtual assets. The police reminded investors to be vigilant and avoid falling into scams. Villeroy de Villeroy, governor of the Bank of France, said that BTC is still a high-risk asset. On November 13, Musk responded again with the "Peanuts" emoticon when commenting on a post about useless spending by the U.S. government. Musk said that "America was saved by a squirrel and meme coins", and the squirrel refers to Peanut, the internet celebrity squirrel who was executed by relevant US agencies. MtGox address has recently sent BTC to the outside world 5 times, totaling 37897.965 BTC, worth about 2.62 billion US dollars. MARA Holdings announced its third quarter financial report: the company's BTC holdings increased to 26747 BTC.

Trump's election and the Federal Reserve's expected 25 basis point rate cut have settled two major risk events, leading to a significant rebound in financial markets. On November 11, the S&P 500 index closed above 6,000 points for the first time, with Tesla up 39% and a market value increase of over $300 billion since Trump's election.
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Bloomberg reported that UK Chancellor Rachel Reeves will announce a digital bond pilot program in her speech at Mansion House in the City of London this Thursday. The plan aims to utilize blockchain technology to 'tokenize' UK government debt over the next two years, enhancing bond trading efficiency and lowering costs. The plan may require parliamentary legislative support to proceed with blockchain-based bond sales. The Washington Post reported that Trump is preparing to adopt a more lenient stance on cryptocurrencies in the U.S.; he is seeking key candidates for positions friendly to the crypto industry, while his senior advisors are consulting crypto executives on potential changes to federal policy. Initial discussions are focused on a range of financial regulatory agencies, including the U.S. Securities and Exchange Commission. Arkham shows that the value of BTC holdings by Tesla, owned by Musk, has reached $1 billion. 8marketcap data indicates that BTC's market cap has risen to approximately $1.751 trillion, surpassing silver and the Vanguard total stock market ETF, ranking 8th in global asset market capitalization. ai_9684xtpa data shows that ETH has been in an inflationary state since mid-April, with about 350,000 ETH issued over six months. On November 12, a MtGox address sent 2,500 BTC worth approximately $222.26 million to address 1PQZ...EvAc. Google Trends data indicates that BTC reached a peak search interest of 100 on November 12, reflecting a growing interest in BTC searches. Analyst Eugene mentioned that since the market landscape changed, no comprehensive bull market force has concentrated in a specific area yet. Given the strong performance of mainstream assets, he believes it is only a matter of time before the entire AI sector is revalued.

The Federal Reserve lowered rates by 25 basis points to 4.50%-4.75% at its meeting last Friday, with a unanimous vote of 12-0, compared to 11-1 in September, marking the Fed's second consecutive rate cut. After the U.S. election, Bitcoin broke through $70,000; the Fed cut rates by 25 basis points, and Bitcoin broke through $80,000, reaching $85,000 on Tuesday.
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The U.S. Securities and Exchange Commission (SEC) has postponed its decision on whether to approve ETH spot ETF options for further analysis and to gather public opinions, particularly regarding whether the proposed rule changes meet the requirements of the Securities Exchange Act. The SEC emphasized concerns about the potential impact of the proposal on preventing market manipulation, protecting investors, and ensuring a fair trading system. The Wall Street Journal: If Trump tries to fire Fed Chair Powell, Powell is ready for a legal battle. The White House stated that at Biden's invitation, Trump will meet with Biden at the White House at 11 AM local time on the 13th. No further details have been released. Data from S3 Partners shows that from Election Day to last Friday's close, hedge funds holding short positions in Tesla have incurred paper losses of at least $5.2 billion. BTC recorded a 16.9% increase last week, with a maximum increase of 21.7%, marking the second-largest increase week after the approval of the U.S. BTC spot ETF. Zhu Su, founder of the bankrupt Three Arrows Capital, stated that the least known 'secret' is that the profits made from buying assets at new highs far exceed any other strategy, and it's not just a small amount. According to DefiLlama data, the market capitalization of stablecoins grew by 3.04% over the past week, reaching $178.115 billion. Lookonchain indicated that based on indicators such as the rainbow chart, Relative Strength Index (RSI), 200-week moving average heat map, cumulative value of destroyed coins days (CVDD), and 2-year MA multiplier, although BTC has reached a new all-time high, it has not yet reached peak bull market levels.

At 3:00 AM on Friday, the Federal Reserve announced its latest interest rate decision, with the market expecting a 25 basis point cut. Bank of America stated that the weakness in October's non-farm data is sufficient for the Fed to cut rates by 25 basis points in both November and December. (October non-farm employment was 12,000, expected value was 113,000, previous value was 223,000.) Following the new highs of the three major U.S. stock indices on November 6, the indices continued to hit new highs during trading on the 7th.
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U.S. stocks achieved their best post-election performance in history, with the S&P 500 hovering around 5930 points, marking the 48th historical high this year; the Nasdaq 100 index rose 2.7%, marking its first record since July; the Dow Jones Industrial Average climbed 3.6%. Bernstein, a financial services company, stated that it expects increased clarity in crypto asset regulation following a Trump win, with the SEC and the Senate Banking Committee likely to become more friendly towards cryptocurrencies. New cryptocurrency rule-making systems are expected to emerge, and the impact of this shift has not yet been reflected in prices. Currently, it is anticipated that stablecoin and market structure legislation will progress more rapidly, which is positive. On November 6, BTC's market capitalization surpassed Meta to become the ninth-largest asset in the world by market cap. JPMorgan has renamed its blockchain and tokenization department Onyx to Kinexys, intensifying efforts in the tokenization of real-world assets (RWA). ETH/BTC rose to 0.038, an increase of 8.5%. VanEck executive Matthew Sigel stated that ETH is oversold, and U.S. speculative activity will return to the market, asserting that ETH will not be overlooked. Justin Sun expressed optimism about market prospects (including ETH) as U.S. macro crypto policies improve. IntoTheBlock reported an increase in the number of short-term investors holding BTC, a phenomenon typically seen in bull markets as new participants enter with rising prices. On November 7, Tether injected $1.845 billion in stablecoins into CEX on the ETH chain.

On November 6, Trump announced his victory in the 2024 election. Trump has secured at least 270 electoral votes and will return to the White House in January! The three major U.S. stock indices opened higher, with the Dow Jones up 3%, the S&P 500 up 2.06%, and the Nasdaq up 2.05%; the Russell 2000 small-cap index rose 4%, marking the largest increase since November 2023.
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On November 6, Trump announced his victory in the 2024 election. Trump has secured at least 270 electoral votes and will return to the White House in January! The three major U.S. stock indices opened higher, with the Dow Jones up 3%, the S&P 500 up 2.06%, and the Nasdaq up 2.05%; the Russell 2000 small-cap index rose 4%, marking the largest increase since November 2023. Before the election, analysts predicted that if Trump won, the price of BTC could rise to $80,000 or $90,000. Matrixport analysis indicated that as the election results become clearer, the market is expected to welcome a year-end rally in risk appetite. American traders have reason to increase their positions, and against the backdrop of BTC's upward momentum, the greed and fear index is also expected to rise further.