Placeholder VC Partner: Market May Be Ready for a Rebound

On November 23rd, Bitcoin has been continuously declining from its peak of $96,000 this week. It dropped to a low of around $80,600 on Friday, November 21st, at around 20:25 Beijing time. That evening, several Federal Reserve officials gave speeches, releasing bullish signals and reversing the market's previous belief that there would be "almost no rate cut in December." The earliest speaker appeared almost simultaneously with the $80,600 low point. These officials include: New York Fed President Williams stated that considering the current policy, which seems to be tightening, the Fed could still cut rates in the short term. The inflation process has stalled, but it is expected to reach the 2% target by 2027. Fed Governor Milan said that the impact of the non-farm data released on Thursday was "clearly dovish," and that insufficient data does not mean the Fed lacks forecasts. Fed Vice Chair Jefferson also said that he believes that the current AI-related U.S. stock rally is unlikely t

On November 23rd, based on official data, the token sale of Monad on Coinbase has come to an end. A total of $269 million was raised, with an oversubscription rate of 144%.

On November 23rd, based on LookOnChain's monitoring, a newly emerged wallet likely associated with BitMine received 21,537 ETH (amounting to $59.17 million) from FalconX 8 hours previously.

Update: On November 23rd, based on HTX market data, Bitcoin saw a rebound and exceeded $86,000, currently trading at $86,056. Ethereum also broke through $2,800 and is now priced at $2,808.

On November 23rd, the prominent Chinese crypto analyst Banmuxia stated on social media that the bullet-loading moment for Bitcoin has come. $80,500 can basically be confirmed as an important low point of this bear market, and it may even be the lowest point. However, this does not imply that the bear market has ended. This round of the bear market has been running for more than 3 months and may continue for another 3-4 months, but this is a sideways bear market. (ps: This is just an analysis. Specific trading should be planned carefully. However, spot transactions can be steadily bought and held until the end of the next bull market.)

On November 23rd, the AI Smart Agent Port3 Network issued a security alert on social media this morning. It was stated that a hacker took advantage of the BridgeIn vulnerability to mint an additional (10 billion tokens). In order to protect users, the team removed some liquidity and was preparing to communicate with the hacker. On-chain data shows that the hacker sold a large amount of tokens on the chain but did not deposit them into a centralized exchange (CEX). Subsequently, the Port3 team removed the on-chain liquidity, preventing the hacker from further cashing out. Some exchanges also shut down their deposit channels. Eventually, the hacker burned all the remaining tokens. Market data shows that as of the time of writing, this event caused the PORT3 token to fall by 82%, dropping from this morning's $0.037 to a low of $0.0066 and now rebounding to $0.0086. The market capitalization is only $4.05 million and the fully diluted value (FDV) is $8.11 million.