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Bitcoin fell below $90,000, and the cryptocurrency market lost $1.2 trillions in six weeks. Stablecoins, criticized for disguising risks as safety, have been identified as potential triggers for a financial crisis, and the GENIUS Act could increase these risks. Summary generated by Mars AI. This summary was generated by the Mars AI model, and the accuracy and completeness of its content are still being iteratively updated.
Global risk assets have experienced a significant decline recently, with both the US stock market and the cryptocurrency market plunging simultaneously. This is mainly due to investor fears of an AI bubble and uncertainty surrounding the Federal Reserve's monetary policy. Concerns over the AI sector intensified ahead of Nvidia's earnings report, while uncertainty in macroeconomic data further increased market volatility. The correlation between Bitcoin and tech stocks has strengthened, leading to split market sentiment, with some investors choosing to wait and see or buy the dip. Summary generated by Mars AI. The accuracy and completeness of the content generated by the Mars AI model are still being iteratively improved.
Due to the uncertainty surrounding the Federal Reserve’s decision in December, it may be wiser to act cautiously and control positions rather than attempting to predict a short-term bottom.
If these were stocks, their trading prices would be at least 10 times higher, if not more.
- 20:04Data: In the past 24 hours, total liquidations across the network reached $562 million, with long positions liquidated for $492 million and short positions liquidated for $69.78 million.According to ChainCatcher, citing Coinglass data, liquidations across the entire network reached $562 million in the past 24 hours, with long positions liquidated for $492 million and short positions for $69.78 million. Among them, bitcoin long positions were liquidated for $131 million, bitcoin short positions for $19.88 million, ethereum long positions for $197 million, and ethereum short positions for $19.09 million. In addition, over the past 24 hours, a total of 170,518 people were liquidated globally, with the largest single liquidation occurring on Hyperliquid - ETH-USD, valued at $24.22 million.
- 19:28Federal Reserve meeting minutes show cooling labor market, overall inflation rate estimated at 2.8%ChainCatcher news, according to Golden Ten Data, the minutes of the Federal Reserve's October meeting show that the actual GDP growth rate slowed down in the first half of this year, and information on the labor market was limited due to the federal government shutdown. Existing indicators suggest that the labor market continues to gradually cool down, with no signs of sharp deterioration. Consumer price inflation has risen since the beginning of the year, with the overall inflation rate estimated at 2.8% in September, and the core PCE inflation rate is also estimated at 2.8% for the same period.
- 19:28Federal Reserve meeting minutes show tightening in short-term funding markets, with reserves approaching ample levelsChainCatcher news, according to Golden Ten Data, the minutes of the Federal Reserve's October meeting show that conditions in the U.S. short-term funding market tightened significantly during the interim period, but remained orderly. Near the end of the interim period, the spread between the effective federal funds rate and the interest rate on reserve balances narrowed to its tightest level since the Fed began balance sheet reduction in 2022. The secured overnight financing rate broke through the minimum bid rate of the standing repo facility several times, resulting in multiple uses of this tool. The average usage of the overnight reverse repo facility dropped to its lowest level since 2021. These changes indicate that reserve balances are gradually approaching an ample level.