Daily Digest: Net inflows of ETH ETF interrupted for 4 consecutive days, Musk to lead the U.S. D.O.G.E department

According to Farside Investor data, the net inflow of BTCSpot ETF in the United States was $39.2 million yesterday, with Fidelity FBTC seeing a net inflow of $37 million, Grayscale GBTC seeing an outflow of $17.8 million, and BlackRock IBIT data not yet updated.

Yesterday, the inflow of $4.5 million into the US ETH Ethereum Spot ETF was interrupted after four consecutive days of large net inflows. Among them, Bitwise ETHW saw an inflow of $17 million, Grayscale Ethereum Trust (ETHE) saw an outflow of $33.2 million, and the inflow of Grayscale Ethereum Trust (ETHE) mini ETH was $12.7 million. BlackRock ETHA data has not been updated.

Musk: The Department of Government Efficiency (D.O.G.E) action will be launched online and the "Foolish Tax Expenditure Ranking" will be released.

In a tweet on X, Musk said, "All actions of the Efficiency Department will be published online for maximum transparency. Whenever the public thinks we are cutting something important or not cutting waste, please let us know. We will also have a leaderboard of the dumbest/most crazy expenses paid by taxpayers. It's going to be epic."

Note: The name of the Department of Government Efficiency (DOGE) is not a coincidence. It was previously suggested by the DOGE community to Musk and was adopted. Musk commented, "This is a perfect name."

Former Cleveland Fed Chair Hawkish Speech: Rate cuts to decrease next year

Former Cleveland Fed President said the pace of Fed rate cuts next year will be influenced by fiscal policy, and the number may not be as much as assumed or expected in September.

Mester pointed out that the Fed's outlook will change with the fiscal plans of the incoming Republican government, and the market may be correctly predicting fewer rate cuts than previously expected. 'Next year, the pace of rate cuts will be influenced by fiscal policy,'

Economists surveyed by Reuters also expect a 25 basis point interest rate cut at the December 2024 meeting. This would bring the federal funds interest rate to 3% to 3.25% by the end of 2025, slightly below the median dot plot projection of the Federal Reserve.

Analysis: Trump's inauguration is expected to boost the encryption industry, but uncertainties still exist

Marion Laboure, a research analyst at Deutsche Bank, said that under the leadership of President Trump, Cryptocurrency will benefit from more favorable regulation and political background in the United States, but there is still uncertainty about future policies.

In a report, she stated that the incoming Trump administration may accelerate regulatory transparency, strengthen institutional participation, improve market infrastructure, and be more widely adopted by the mainstream. However, policy uncertainty remains a key factor driving the pump in prices. Laboure stated, 'It is important to emphasize that if the expected encryption industry regulatory reform by the Trump administration does not meet market expectations, we may see potential turbulence.'

Market analysis: DOGE leads the DOGE meme collective pump, GOAT continues to hit historical highs

Market Hotspots

DOGE meme coin DOGE, NEIROCTO, BONK, FLOKI, WIF, BILLY, and others have collectively pumped. Musk announced the formation of D.O.G.E (Department of Government Efficiency), with the English abbreviation coinciding with DOGE, bringing more exposure to DOGE. After DOGE's big pump broke through the $60 billion Market Cap mark, funds flowed into smaller Market Cap DOGE meme coins, driving a collective pump of DOGE meme coins.

AI MEME coin ACT, GOAT pumped, ACT experienced a Long Wick Candle Rebound quickly, still maintaining around $0.58, showing strong capital support; after a short pullback, GOAT once pumped to $1, creating a new historical high, currently temporarily falling back to around $0.85; ACT's current market capitalization is $530 million, GOAT's market capitalization is $870 million, and there is still enough room for these two tokens' market capitalization to perform well.

Old coins like XRP and XLM are pumping. The pump of these old coins is often delayed, which is a manifestation of the market sentiment being too hot. The market may temporarily enter a pullback phase.

Market Trends

BTC retraced after reaching $89,949 and is currently consolidating around $88,000. The market sentiment is overly bullish, and it is currently in a short-term adjustment phase. After the adjustment is completed, the next target for BTC is $100,000;

After breaking through $3400, ETH fell back and is currently receiving support around $3250. ETH ETF saw a single-day inflow of nearly $300 million two days ago, and in the future, ETH ETF may continue to attract large amounts of capital inflow.

Altcoins are generally experiencing a pullback, while the fully circulating MEME coin remains the preferred choice of market funds. At the same time, the AI zone is worth following, especially ACT and GOAT;

Macro News: US stocks collectively fell, Trump's trade recession

The three major U.S. stock indexes all fell, with the S&P 500 falling 0.29% to 5983.99 points; the Dow Jones Industrial Average falling 0.86% to 43910.98 points; and the Nasdaq Composite Index falling 0.09% to 19281.40 points. The benchmark 10-year U.S. Treasury yield is 4.43%, while the 2-year Treasury yield, which is most sensitive to the Federal Reserve's interest rate policy, is 4.34%.

The three major U.S. stock indexes collectively fell, and the 2-year U.S. Treasury yield, which is most sensitive to the Intrerest Rate policy of the Federal Reserve, continued to climb, temporarily reporting 4.34%. The market is concerned that Trump's promised policy of imposing tariffs during the campaign may lead to a resurgence of domestic inflation in the United States, thereby keeping the Intrerest Rate in the United States at a high level. The Fed may also reduce the extent of interest rate cuts as a result, and may even consider raising rates again.

Author: Icing, Gate.io Researcher This article represents only the author's point of view and does not constitute any trading advice. This content is original and the copyright belongs to Gate.io. If you need to reprint, please indicate the author and source, otherwise legal liability will be pursued.