Mars Morning News | Federal Reserve officials divided on December rate cut, at least three dissenting votes, Bitcoin's expected decline may extend to $80,000

Bitcoin falls below $92,000, Ethereum briefly drops below $3,000

On November 18, according to market data, Bitcoin fell below $92,000, with a 24-hour decline of 2.55%. Ethereum briefly dropped below $3,000, with a 24-hour decline of 2.49%.

Federal Reserve officials divided on December rate cut, at least three dissenting votes

According to Golden Ten Data, “Fed mouthpiece” Nick Timiraos pointed out that Federal Reserve officials are facing challenges of interest rate divergence. There are two camps internally: one is increasingly concerned about inflation, including four voting regional Fed presidents and Fed Governor Barr; the other is worried about the labor market, believing that the risks of high inflation are being overstated. Nick stated that at least three officials may dissent at the December meeting, and the three officials appointed by Trump will oppose keeping rates unchanged. If there is a 25 basis point rate cut, there will still be at least three dissenting votes.

Mainstream crypto treasury (DAT) companies’ mNAV all fall below 1, Bitmine mNAV drops to 0.83

On November 18, the mNAV of mainstream crypto treasury (DAT) companies all fell below 1, among them: Strategy (MSTR)’s mNAV (the ratio of enterprise market value to the value of held BTC) is now at 0.937. Strategy’s market value dropped to $56 billion, currently holding 649,870 Bitcoin worth $59.9 billion. Metaplanet’s mNAV is now at 0.912. Metaplanet’s market value dropped to $2.61 billion, currently holding 30,823 Bitcoin worth $2.84 billion. Bitmine (BMNR) ranks first in Ethereum institutional holdings, currently holding about 3.51 million ETH worth about $10.63 billion, with its market value dropping to $8.81 billion and mNAV now at 0.83. SharpLink (SBET) ranks second in Ethereum institutional holdings, currently holding 860,000 ETH worth about $2.61 billion, with its market value dropping to $2.02 billion and mNAV now at 0.84.

Traders: Bitcoin’s expected decline may extend to $80,000

According to Bloomberg, the options market shows that traders are increasing bearish bets, generally believing the current decline is far from over, and large investors are exiting the market. Analysts expect Bitcoin may further test the $80,000 level, with the overall crypto market engulfed in a bearish atmosphere.

Vitalik criticizes FTX: A negative example that “reverses Ethereum’s principles by 180 degrees”

Ethereum co-founder Vitalik Buterin stated at the Devconnect conference in Argentina that the now-defunct crypto exchange FTX is a “negative example” of Ethereum’s philosophy. He pointed out that FTX relied on a centralized structure, requiring users to “trust the platform not to do evil,” while Ethereum’s core is decentralization, transparent collaboration, and “can’t do evil” technical design. Vitalik opened his speech with old remarks from Sam Bankman-Fried and emphasized that the centralized architecture was the root cause of FTX’s collapse; in contrast, all Ethereum upgrades are reviewed and advanced by the community in a public environment. He stated that FTX is a “company,” while Ethereum is a “community,” and the two are fundamentally different in structure and values.

Data: “Brother Machi” liquidated multiple times, account left with only $47,000

According to analyst Yu Jin’s monitoring, after “Brother Machi” was liquidated on his Ethereum long position, he used the remaining $220,000 to open a new position at $3,052, but as ETH fell below $3,000, his position was liquidated again, resulting in a loss of $3.36 million. The account shrank from the initial $3.437 million injected to only $47,000.

PYUSD supply surges 22% in a week, rises to sixth largest stablecoin

According to The Defiant, PYUSD added $625 million in circulating supply over the past week, a 22% increase, leading the stablecoin market in growth. All newly minted PYUSD flowed into the Ethereum network, bringing its total supply on Ethereum to $2.38 billion. This issuance comes just a month after issuer Paxos mistakenly minted $300 trillion worth of PYUSD. After last week’s supply surge, PYUSD has risen to become the sixth largest stablecoin in the DeFi sector, with a market share just over 1%. This marks PayPal’s continued push in the stablecoin track. Although there is still a large gap compared to leading stablecoins such as USDT and USDC, its growth rate shows the strong momentum of traditional financial institutions entering the crypto market. Analysts point out that PayPal’s massive user base and brand influence could be key advantages for PYUSD’s future expansion.

Arthur Hayes’ new article: Has increased stablecoin holdings, waiting for an “epic” $80,000 bottom-fishing opportunity!

The article discusses the relationship between Bitcoin price, dollar liquidity, political rhetoric, and market expectations, pointing out that the recent decline in Bitcoin is related to shrinking dollar liquidity and predicting that future markets may fluctuate due to policy adjustments.

Sudden move in the UK! Major shift in stablecoin regulation, London’s speed ushers in a new era for RWA

The Bank of England has announced a stablecoin regulatory framework, allowing 60% of reserves to be invested in short-term government debt, while implementing tiered regulation and holding limits. The tax department is strengthening crypto asset tax compliance, and the market is actively promoting RWA tokenization.

“Golden pit” after leveraged liquidation? Data shows a “structural bottom” is forming in the crypto market

The crypto market has recently experienced a sharp decline, with total market value evaporating by $1.1 trillion in 41 days, an average daily loss of $27 billion. High-leverage trading has increased market sensitivity and triggered a surge in liquidations. Although there are no substantial bearish factors in the fundamentals, market sentiment has fallen to an extreme fear level.