Hello everyone, this is Lianwen. I have known for a long time that I am Bi Xiaohuan. For one minute every day, let us quickly understand the new things happening in the chain. Today is Monday, January 8, 2024. 2024 is a year that has been given great expectations by everyone, and it is also recognized as a new round in the chain. The beginning of the bull market. There are many positive expectations this year, such as the Federal Reserve's expected interest rate cut, Bitcoin's ETF spot is expected to be approved, BTC's halving, Ethereum's Cancun upgrade, etc. The major events that occurred in the past 24 hours have had an impact on the market. What are the impacts? News from BlockBeats; Fed Logan: The possibility of another interest rate hike should not be ruled out. Logan is a senior Fed official and president of the Dallas Fed; as a former senior official of the New York Fed’s market department, many of Logan’s speeches are authoritative. Therefore, his remarks seemed to pour cold water on the market, which had been trying to be quiet recently. Fed's Logan warned that the central bank may need to resume raising short-term policy rates to prevent the recent decline in long-term bond yields from reigniting inflation. Logan said, "If we do not maintain sufficiently tight financial conditions, we risk a rebound in inflation and reverse the progress we have made." Logan also said, "Restrictive financial conditions are important in keeping demand consistent with supply, It has played an important role in keeping inflation expectations stable, with inflation already close to the Fed's 2% target, the labor market, while still tight, is rebalancing, and we cannot hope to maintain price stability if we do not maintain sufficiently tight financial conditions." Therefore, the Fed's interest rate cut is not that easy to happen for a while, but it doesn't matter if there is any disturbance. We will compile and analyze reports with you as soon as possible every day. Next, we will pay attention to the news of the Bitcoin ETF spot that has received the most attention recently. At 8 a.m. on January 7, Fox Business reported that BlackRock expects its spot Bitcoin ETF to be approved on Wednesday. Golden Finance reported at 10:52 pm that Bloomberg ETF analyst Eric Balchunas (Balchunas) said that the probability of spot Bitcoin ETF rejection has now dropped from 10% to only 5%. He pointed out that it was necessary to leave room for 5% for reasons of uncertainty, because even if the industry had guarantees at the time, anything could happen.However, at 23:27 in the evening, Golden Finance reported that Bloomberg ETF analyst Eric Balchunas said that asset management companies applying for spot Bitcoin ETFs are expected to make final revisions on the morning of January 8, and the next step in the regulatory decision-making process will be The stage could be a vote by SEC commissioners, but nothing is scheduled before January 11 on the agency’s public agenda, though according to Eric Balchunas, the SEC could use its authorized policy agencies to do Make a decision. After reading this news, I can only laugh. Nowadays, the market news is confusing and the market is particularly tight. Without the stone hammer coming out, these smoke bombs are really confusing, because the current market is extremely sensitive. Once any substantive news comes out, the BTC spot ETF will pass or not. It may cause skyrocketing or plummeting. I would like to advise everyone not to touch leverage during this period. Safety is the first priority and life-saving is the most important thing. Next, let’s take a look at what new actions have been taken by industry leaders in the past 24 hours? BlockBeats news, on January 7, according to official news, OKX Ventures’ total investment amount in 2023 will exceed US$50 million, covering seven core areas including infrastructure, DeFi, GameFi, NFT/Metaverse, Web3.0, Bitcoin ecology, and AI. field. In-depth cooperation with ecologies such as Solana, Near, Polygon, and Avax. According to BlockBeats news, on January 7, Grayscale announced a quarterly update of the component weights of the multi-asset cryptocurrency index fund. In this adjustment, Grayscale Digital Large Cap Fund (GDLC) added AVAX and xrp and removed MATIC. As of January 4, 2024, the composition of the Grayscale Digital Large Cap Fund includes BTC, ETH, ADA, SOL, AVAX and XRP; CRV has been removed from the Grayscale DeFi Fund (DEFG) index. The composition of Grayscale DeFi Fund (DEFG) includes UNI, LDO, AAVE, MKR, and SNX; the composition of Grayscale Non-Ethereum Smart Contract Platform Fund (GSCPxE) includes ADA, SOL, MATIC, DOT, AVAX, and ATOM. According to the latest data from Dune, the cumulative fee income from the minting of Ordinals inscriptions on the Bitcoin NFT protocol has exceeded 5,436 BTC, which is approximately US$239,887,413. The current total number of minted inscriptions has reached 53,666,238. The total market value of the inscription market is less than US$3 billion;The current crypto market value is 1.69 trillion US dollars, BTC accounts for 51% at 863.1 billion US dollars; the market FGI fear/greed index is 71 greedy. Cryptocurrency market behavior is very emotional. When prices rise, people tend to become greedy, which leads to FOMO (fear of missing out). When the market drops, people often sell their cryptocurrencies in an irrational reaction. If now is just the beginning of the bull market, what will happen to the market when BTC breaks through the previous high of $100,000? I also want to know. The above is all our content today. Thank you for listening. If you are also a fan of the crypto circle, please like, subscribe and collect. Learn about new things in the chain with us every day; slowly become more interesting together. money!