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Wu said daily selected encryption news + macroeconomic indicators this week
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The encryption market has cooled down, with $90,000 becoming an important battleground. U.S. stocks represented by Tesla and Nvidia have performed poorly. The trend in the encryption market is shifting towards MEME, indicating a relatively dangerous direction. Both directions have the potential for significant fluctuation. Macro market expectations are flat this week, with low correlation between encryption and the macro environment. The Options market is relatively stable, and it is worth following Block Trading and market Interest Rate. Currently, the main term IV is at a relatively low level, which may still be a good buying opportunity.
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Former US presidential candidate Robert Kennedy Jr. recently released a video saying, "I'm a loyal supporter of Bitcoin. A year ago, I attended another BTC conference here. When I went home, I put most of my wealth into BTC, so I was fully committed to it." Earlier, Robert Kennedy Jr. described BTC as a "free currency" and reiterated the digital asset's ability to hedge against currency inflation.
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MicroStrategy announced that it has acquired a total of 331,200 BTC, with a total cost of approximately 16.5 billion US dollars and an average purchase price of 49,874 US dollars per coin. The latest purchase of 51,780 BTC cost approximately 4.6 billion US dollars, with a unit price of 88,627 US dollars. As of November 17, 2024, the company's quarterly BTC return rate reached 20.4%, and the year-to-date return rate is 41.8%.
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Polish presidential candidate Sławomir Mentzen has promised to adopt a strategic BTC reserve if elected. However, the Free and Independent Alliance, the party to which Sławomir Mentzen belongs, only received a vote share of 7.16% in the parliamentary elections. Previously, Mentzen revealed in 2022 that he had invested all his funds in BTC in 2013. In his 2023 asset declaration, he also disclosed that he holds BTC worth approximately 4.9 million zlotys (about 1.196 million dollars).
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Summary
Last week, the US inflation index CPI met expectations, but PPI was slightly higher than expected; this week, it is important to follow the preliminary values of PMI in various countries, the number of initial jobless claims in the US until November 16, and NVIDIA's financial report, etc.
Last week review
In October, the seasonally unadjusted CPI in the United States rose by 2.6% year-on-year, in line with market expectations, reaching a three-month high and ending the 'six consecutive declines'.
U.S. October PPI year-on-year 2.4%, expected 2.3%, previous value revised from 1.8% to 1.9%.
The summary of opinions from the October meeting of the Central Bank of Japan shows that policymakers have different views on the timing of interest rate hikes.
The number of initial jobless claims in the United States was 217,000 in the week ending November 9, expected to be 223,000, with a previous value of 221,000, the lowest since the week ending May 18.
The minutes of the European Central Bank meeting showed that Risk Management was a key consideration for the interest rate cut in October.
Key Events & Indicators This Week
November 19th
The Reserve Bank of Australia released the minutes of the November monetary policy meeting (08:30)
November 21st
Initial claims for unemployment benefits in the United States for the week ending November 16th (in 01928374656574839201 people) (21:30)
NVIDIA financial report
November 22nd
Initial PMI for Eurozone, UK, France, Germany and USA
U.S. November final University of Michigan Consumer Sentiment Index (23:00)