Bank of America: Reserves fall to lowest level since 2020
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The US bank reserves have dropped to their lowest level since 2020, sparking discussions in the market about Bitcoin as a potential solution. （Cointelegraph）
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The US bank reserves have dropped to their lowest level since 2020, sparking discussions in the market about Bitcoin as a potential solution. （Cointelegraph）
Click on the link to enter the meeting: https://meeting.tencent.com/p/7277739262 The live broadcast room had already predicted the market downturn the night before yesterday, so it is easy to grasp both the previous day's decline and yesterday's rise. So, how do we view the current market situation from a news perspective? The following are the points: 1. Macroeconomics: The Federal Reserve cut interest rates by another 25 basis points on October 29th, but Chairman Powell stated that it is "far from certain" whether to continue cutting rates in December. 2. Tokenization has become a hot topic: In addition to JPMorgan Chase, Standard Chartered Bank predicts that the scale of real-world asset (RWA) tokenization may reach $2 trillion by 2028, and believes that Ethereum may become its main underlying network. This demonstrates the enormous potential of blockchain technology in the traditional financial field. Short term: Market sentiment is dominated by uncertainty in the Federal Reserve's monetary policy and unexpected events such as Mt. Gox repayments, and fluctuations may persist. In the medium to long term, the continuous entry of traditional financial institutions and the exploration of regulatory frameworks for digital currencies by various countries are laying the foundation for the healthy development of the industry. So how should we refer to the technical aspect and how to use the indicators well? The live broadcast room is explaining Tencent Meeting Live: 727-773-9262 QQ group number: 936313157 Disclaimer: The above content only represents the author's personal opinion and is intended to assist investors in understanding information related to the capital market. It does not constitute any investment advice and does not represent the position or viewpoint of AiCoin. The market is risky and investments should be made with caution.
[New Hampshire Senate Temporarily Halts Progress on Crypto Mining Regulation Relaxation Bill] On November 1, the New Hampshire Senate Commerce Committee voted on House Bill 639, which aims to relax regulations on cryptocurrency mining. However, the vote ended in a deadlock due to divided opinions. The bill seeks to prohibit municipal authorities from imposing restrictions on cryptocurrency mining activities and to ban state or local governments from levying special taxes on digital assets. Ultimately, the committee decided, with a vote of 4 to 2, to send the bill for interim study for further review. Several senators noted that public feedback on the bill has significantly increased since the last debate.
Elon Musk stated in a conversation with Joe Logan that the design inspiration for the new messaging application on X platform comes from Bitcoin. This application may embody the concept of decentralization. （Bitcoin Archive）
The current price of BTC is $110064.76, with a rise of 0.50% in the past 24 hours. Among them, the total liquidation amount of contracts across the entire network in the past 24 hours was 149 million US dollars, with the main liquidation being short orders and BTC liquidation being 33.78 million US dollars (22.65%). The data is for reference only.
[AllianceDAO Co-founder QwQiao: Most Traders Turn Bearish on the Market] AllianceDAO Co-founder QwQiao stated that the majority of experienced traders and long-term investors have shifted to a bearish outlook during different cycles, and the overall sentiment in the crypto market has become cautious. QwQiao revealed that he has adopted a cautious stance on market trends since mid-September, believing that under the convergence of multiple signals, moderately reducing positions is a more rational approach. He pointed out that the market may currently be in a phase of structural divergence, with AI concept stocks continuing to rise, while other assets, including crypto assets, are under pressure.