Market Today

• The old POW token LTC rose, and its official Twitter announced that LTC has become a meme coin, with full entertainment effect; market funds generally favor high-circulation meme coins, and many old projects use the meme concept to pull the market, and the market sentiment may reach a peak in a short time;
• AI concept meme ACT and GOAT performed well in the market, with large intraday fluctuations and many pin-up rebounds; ACT once exceeded the market value of US$900 million, while GOAT was blocked by the US$1 billion market value mark. As the leading tokens of AI meme, only when their market value increases more, will there be room for growth for small-cap AI meme;

Market trend

• BTC entered a short-term adjustment range and is currently consolidating around US$88,000. The recent market sentiment is too hot, and a temporary adjustment is more conducive to an outbreak in the future;
• ETH has fallen for 3 consecutive days and is currently adjusting around US$3,050. The ETH/BTC exchange rate has fallen sharply again, and BTC ETH will perform only after reaching a new all-time high;
• Altcoins generally fell, and strong currencies such as PNUT and WIF in the past few days were adjusted due to excessive short-term gains;

Macro News

The three major U.S. stock indexes closed down collectively, and the 2-year U.S. Treasury bond yield continued to climb to 4.34%. Federal Reserve Chairman Powell delivered a written speech in Dallas on Thursday, saying that the recent U.S. economic performance was "quite good", giving the central bank room to cautiously cut interest rates. According to CME Fed Watch, the probability of the Fed cutting interest rates by 25 basis points in December is 58.7%, while the previous figure was 82.5%.