Key Takeaways

  • Macro Outlook: US CPI May Be Absent, Gold Awaits New Catalysts.
  • Non-Legislative Tax Breaks: US Treasury Provides Tax Breaks to Private Equity, Crypto Firms.
  • Bitcoin Whale Movements: Bitcoin whales holding for over 7 years are liquidating holdings.
  • USDX Recovery Plans: Stables Labs Announces USDX Recovery Arrangement.
  • Coinbase Adjustment: Coinbase Suggests October Sell-Off Was a Cycle Adjustment.
  • Binance Alpha Airdrops: Binance Alpha to Launch JCT and ALLO Airdrops.
  • Early Bitcoin Deposit: Early Bitcoin Investor Owen Gunden Deposits 600 BTC to Kraken.

Macroeconomic Outlook: US CPI and Gold

Over the past week, risk appetite has cooled due to the ongoing US government shutdown, a cooling labor market, and cracks in the AI valuation bubble. In the coming week, the market will focus on the government shutdown and prospects for Federal Reserve rate cuts. Continued government shutdowns may delay further economic data releases.

Key Events to Watch:

  • Wednesday: Speech by Williams, President of the New York Federal Reserve.
  • Wednesday: Speech by Paulson, President of the Philadelphia Federal Reserve, on Fintech.
  • Thursday: Speech by Bostic, President of the Atlanta Federal Reserve.
  • Thursday: US October CPI and Initial Jobless Claims.
  • Friday: Speeches from Federal Reserve officials on monetary policy.

Cryptocurrency Market Updates

Hong Kong JPEX Case

The Hong Kong High Court will hear the JPEX case on December 15. Authorities plan to update regulations in the wake of the case.

Tax Breaks for Private Equity and Crypto Firms

The US Treasury is providing tax breaks to private equity and crypto firms through proposed regulations.

Russian Kidnapping and Murder in Dubai

Russian businessman Roman Novak and his wife were kidnapped and murdered in Dubai. Novak was previously involved in cryptocurrency fraud schemes.

Market Analysis and Insights

  • Michael Saylor: Michael Saylor supports Bitcoin during market dips.
  • Bitcoin Whale Liquidation: Bitcoin whales holding for over 7 years are liquidating their holdings.
  • Willy Woo's Perspective: Willy Woo cautions against interpreting every OG move as a sell-off.
  • Galaxy Digital's View: Galaxy Digital sees investors moving to other areas like AI.
  • Coinbase Analysis: Coinbase suggests the October sell-off was a cycle adjustment.

Project Updates

  • USDX Recovery Plans: Stables Labs announces USDX recovery arrangement.
  • Hyperliquid BLP Protocol: Hyperliquid team is testing BLP protocol.
  • Re7 Labs Report: Re7 Labs publishes report on xUSD de-peg impact.
  • Binance Alpha Airdrops: Binance Alpha to launch JCT and ALLO airdrops.
  • TIMI Airdrop: Binance enables users to claim TIMI token airdrop.
  • Euler DAO Treasury Migration: Euler DAO Treasury to migrate to new multi-sig address.

Key Data

  • Bitwise Solana ETF Flows: Bitwise Solana ETF flows exceed $500 million.
  • Early Bitcoin Deposit: Early Bitcoin investor Owen Gunden deposits 600 BTC to Kraken.
  • NFT Trading Volume: NFT trading volume down 9.22% to $85.31 million.

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