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US PPI unexpectedly rises, Bitcoin briefly breaks through $100,000 and then falls back.
Market Insights and Hotspot Analysis
1. Market Highlights
1. Market Trends
Macroeconomic Environment
The U.S. Producer Price Index for November unexpectedly rose, increasing by 0.4% month-on-month and 3% year-on-year, both exceeding market expectations. This data indicates an increase in inflationary pressures, triggering volatility in the markets. Although it is widely anticipated that the Federal Reserve will cut interest rates at next week's meeting, the rise in the PPI data adds uncertainty to the prospects for rate cuts next year.
As a result, the three major U.S. stock indices all experienced declines. The Dow Jones Industrial Average fell for six consecutive trading days, closing down 0.53%. The S&P 500 Index and the Nasdaq Composite Index dropped 0.54% and 0.66%, respectively. Tech giants like Nvidia and Tesla also saw significant price declines.
Investors are confused about the future direction of the Federal Reserve's policies. Although the possibility of a rate cut in December has basically been priced in by the market, the unexpected rise in inflation data has raised doubts about the pace of rate cuts next year.
(# Web3 field
The cryptocurrency market has experienced significant volatility. During the opening ceremony of the New York Stock Exchange, some politicians stated that major goals would be achieved in the cryptocurrency field, which temporarily pushed the price of Bitcoin above $102,000. However, influenced by the decline in U.S. stocks and PPI data, Bitcoin quickly fell back, once again dropping below the $100,000 mark, leading to a widespread decline in the entire crypto market.
Nevertheless, the decentralized finance )DeFi### sector continues to perform strongly. A well-known family project, World Liberty Financial (WLFI), has purchased cryptocurrency assets such as Ethereum, AAVE, and Chainlink, with a total value of approximately $74.9 million, of which Ethereum accounts for the largest share. This move is seen as a positive outlook on Ethereum's potential and may be part of its early strategic layout in the crypto space.
( 2. Hot Events
)# Macroeconomic Environment
According to the Wall Street Journal, a political team is considering the cancellation or merger of certain financial regulatory agencies to improve government oversight efficiency. Sources revealed that relevant consultants asked questions regarding the abolition of the Federal Deposit Insurance Corporation ###FDIC### during interviews with potential candidates for banking regulatory agencies. In addition, they inquired about potential candidates for the FDIC and the Office of the Comptroller of the Currency (OCC), and proposed plans to merge or completely reform the FDIC, OCC, and the Federal Reserve.
(# Web3 field
On December 13, Phillip Banks, the creator of the Chill Guy image, posted on social media, emphasizing that the Chill Guy image and rights will never be associated with cryptocurrency. He accused certain groups of profiting from his personal art without permission and stated that he would take legal action against these crypto platforms. Subsequently, Banks clarified on Instagram that his social media account had been hacked, and some radical comments were not made by him.
Market data shows that after the relevant statements were released, the price of CHILLGUY briefly dropped by 15%, but then quickly rebounded, essentially wiping out the decline. The community suspects that this may have been a planned "wash trading" operation.
![Web3 AI Daily Review (2024/12/13)])https://img-cdn.gateio.im/webp-social/moments-2c954f2e0a1ed936b9e74d76897c5f5a.webp###
( 3. Hot Topics Narrative
The online travel agency Travala, which supports cryptocurrency payments, announced that its annual revenue has surpassed $100 million, marking a further deepening of the application of cryptocurrencies in the travel industry. The company has also launched a native token AVA and a Bitcoin reserve strategy. The founder of a well-known trading platform shared this news, making Travala quickly become the market focus and driving a significant increase in the price of AVA.
It is reported that the founder invested in Travala as early as the end of 2019 and has been supporting the development of this cryptocurrency travel platform. Travala, as an online travel agency, offers flight, accommodation, and activity booking services, accepting payments in over 100 cryptocurrencies and fiat currencies, enhancing user experience by integrating blockchain technology.
After the relevant news spread, the price of AVA soared from $0.7647 to $2.8 in a short period, then reached a nearly 24-hour high of $3.38, setting a new high since November 2021, with a cumulative increase of 342%.
![Web3 AI Daily Review (2024/12/13)])https://img-cdn.gateio.im/webp-social/moments-dd6581270d53cd28c1703dce9cb6fb02.webp###
2. Hot Projects
( $GWART | AI Bot | @GwartyGwart @GwartyGwartBot
![Web3 AI Daily Review (2024/12/13)])https://img-cdn.gateio.im/webp-social/moments-aa25a01e228072018c9b8f27a4662613.webp###
3. Sector Rotation
Due to the inability to directly display the images in the original text, we can briefly summarize the following points:
In early April, new tariff policies triggered shocks in global markets, but the subsequent softening of policy stance alleviated investor concerns. This series of events sparked a new wave of risk appetite, with Bitcoin leading the way with a strong upward trend.
Although macroeconomic indicators like consumption and employment in the U.S. have not yet been substantially impacted in April, risks have clearly increased. In March, the U.S. added 151,000 non-farm jobs, and the unemployment rate rose to 4.1%, with data better than expected. However, the newly implemented tariff policies led to an 18.6% year-on-year increase in the import price index. Retail sales in March surged 1.4% month-on-month, mainly driven by a buying spree before the auto tariffs, while actual consumption growth excluding automobiles was only 0.5%, down 0.15 percentage points from February.
This policy-driven short-term consumption overdraft sharply contrasts with the significant decline in the consumer confidence index. In April, Michigan...