Crypto Circle Early Knowledge December 11

- The Federal Reserve will announce its last interest rate decision of the year, with the market widely expecting a 'hawkish rate cut' and concerns that next year's rate cut path will be weakened.

- The annual growth rate of U.S. labor costs in the third quarter has dropped to its lowest level in four years, further reinforcing the cooling of the job market and alleviating inflationary pressures.

- A CNBC survey shows that most respondents expect Hassett to become the next chairman of the Federal Reserve, but generally support Waller and Walsh more.

Now let's look at market hotspots:

- Yesterday, the net inflow of Bitcoin spot ETF in the U.S. was $152 million, and the net inflow of Ethereum spot ETF was $178 million, with yesterday's fear and greed index at 30!

- JPMorgan stated that the recent decline in Bitcoin is a normal adjustment, and crypto demand has not shown structural deterioration.

- Fidelity reported that investors bought 430,000 BTC around $85,500, indicating that this range has formed important support.

- Cathie Wood believes that the continued entry of institutions will break Bitcoin's traditional four-year cycle, significantly reducing its volatility.

Finally, let's look at industry dynamics:

- Binance co-founder He Yi announced an airdrop of BNB to users who suffered losses due to his WeChat being hacked, and reminded users to be cautious of unofficially recommended meme tokens.

- Slow Fog founder Yu Xian pointed out that recent WeChat account hacks often stem from abandoning phone numbers, which leads to account takeover or social engineering attacks via verification codes, and reminded users to strengthen account security.

Today's summary:

After the rate cut landed, Bitcoin still failed to break through $100,000, and market sentiment is weak, suggesting that everyone gradually reduce their positions for the winter.

I am the host Mark, this is 'Crypto Circle Early Knowledge', see you tomorrow!