Asset Management Giant Guggenheim: Economic Slowdown Will Prompt Fed to Cut Rates in December

On November 14th, as per the monitoring of OnchainLens, a BlackRock IBIT address transferred 43,240 ETH to a Coinbase address, with a value of $136.7 million.

On November 14th, the US dollar witnessed an increase following the remarks made by Federal Reserve officials, which heightened doubts regarding another rate cut in December. Fed officials Kashkari, Harker, and Mester all offered cautious remarks on the rate cut. Previously, Federal Reserve Chairman Powell stated at the October meeting that another rate cut in December was not a certainty. LSEG data indicates that the market is currently pricing in a 44% possibility of another rate cut in December, which is higher than the 30% a week ago, as policymakers express caution regarding inflation. The conclusion of the record-breaking government shutdown will result in a large backlog of official data pouring in, which may change rate expectations. Nevertheless, the timing and reliability of the data release remain uncertain. (Forex Live)

On November 14th, Nasdaq futures continued to lose, extending the decline to 1%. Dow Jones futures fell by 0.44%, and S&P 500 Index futures dropped by 0.63%. During the session, European stocks further extended their losses: the decline of the STOXX Europe 600 Index widened to 1.5%, hitting an intraday low. The DAX Index in Germany fell by 1.4%, the CAC 40 Index in France dropped by 1.32%, and the FTSE 100 Index in the UK declined by 1.1%. (FX168)

On November 14th, Alibaba's cross-border e-commerce platform, Alibaba.com, announced a partnership with JPMorgan Chase to introduce a tokenized payment system, aiming to provide a faster cross-border settlement solution for its global B2B business. This partnership is regarded as one of the first large-scale applications of bank-endorsed blockchain technology in the international trade field. The collaboration was announced at the CoCreate Europe event held in London. Alibaba stated that it will make use of JPMorgan Chase's tokenization infrastructure to address the long-standing problems in cross-border B2B payments, such as the presence of multiple intermediaries, high exchange costs, and long settlement cycles. Traditional cross-border payments usually require multiple bank transfers. In contrast, tokenized payments can achieve synchronous cross-jurisdictional fund flows, which can significantly reduce delays and costs. (Jinse)

On November 14th, based on market data, pre-market crypto concept stocks in the US stock market witnessed a general decline. These included: Circle (CRCL) decreased by 1.88%; Coinbase (COIN) dropped by 2.95%; MicroStrategy (MSTR) went down by 3.02%; MARA Holdings (MARA) fell by 3.29%; Riot Blockchain (RIOT) decreased by 4.18%; Bit Digital Immersion (BTBT) declined by 2.14%; and SharpLink Gaming (SBET) went down by 2.09%.

On November 14th, the analysis released by XWIN Research under CryptoQuant pointed out that the recent drop of Bitcoin below $100,000 was not merely a market fluctuation but the result of multiple U.S.-centered structural pressures overlapping. On-chain data strongly indicates that U.S. investors are the main driving force behind the current downward trend. Firstly, the Coinbase premium index has been significantly negative for several weeks, suggesting that the selling pressure from U.S. investors is much stronger than the buying pressure from Asia or Europe. This is in line with the recent recurring pattern: Bitcoin rebounds during the Asian session but experiences a notable reversal during the U.S. trading session. Secondly, long-term holders (LTH) of all age groups are selling off synchronously. Analysts such as Will Clemente have pointed out that the selling pressure is not coming from a specific group but is occurring simultaneously among holders with 6 months, 18 months, 3 yea