1. Attention Value-Market Key Points
1. Market conditions
(1) Macro environment:
Trump appoints David Sacks as White House director of artificial intelligence and cryptocurrency affairs
On December 6, Trump announced the appointment of PayPal co-founder David Sacks as the White House's head of artificial intelligence and cryptocurrency affairs. In the statement, Trump said Sacks will work to establish a legal framework to meet the cryptocurrency industry's need for clarity, thereby promoting its development in the United States.
David Sacks is a South African-American entrepreneur and investor with more than 25 years of successful business experience. He is a general partner of Craft Ventures Venture Capital Fund. Public information shows that the crypto projects invested by Craft Ventures include dYdX, Lightning Network developer Lightning Labs, Bitcoin financial service provider River Financial, decentralized domain name and certificate authority Handshake, etc.
Sacks' appointment is seen as a continuation of Trump's support for the cryptocurrency industry, foreshadowing that there may be more policies in the future that tend to relax regulations on the industry. In this new role, Sacks will be at the forefront of how the federal government adopts and regulates artificial intelligence technology. With the rapid development of artificial intelligence technology and its widespread application among consumers, this field has brought many benefits, but also raised risks in terms of national security, privacy and employment. Sacks' work will have an important impact on the government's policy making in these key technology areas.
(2) Web3 field:
l BTC once again sees violent market cleansing with Tiandizhen, with multiple positions liquidated
At around 6:30 AM Beijing time on December 6, after hitting a record high of nearly $104,000, Bitcoin suddenly experienced violent fluctuations, and the price quickly fell to around $91,000, causing a large-scale liquidation in the market. According to Coinglass data, in the past 24 hours, about 210,000 investors were liquidated, and the total liquidation amount of the entire network reached $720 million, of which $615 million was liquidated for long orders and $104 million for short orders. The liquidation amount of Bitcoin contract transactions alone reached $447 million. At present, the price of Bitcoin has rebounded to $98,000. This price spike did not affect other altcoins. In addition, data shows that the funding rate of Binance Bitcoin U-based contracts set a record high in this round of bull market yesterday, rising to 0.0724% at one point, but recovered to 0.0161% in the rapid decline in the early hours of this morning.
2. Hot events
(1) Macro environment:
Investors focus on potential impact of US non-farm payrolls data on Bitcoin market
Investors are currently paying close attention to the US non-farm payrolls data to be released on December 6, Eastern Time, which may have an impact on the Federal Reserve's monetary policy and further affect the Bitcoin market. According to Jag Kooner, head of derivatives at Bitfinex, the market generally expects the non-farm payrolls data for November to be positive. If the data is strong, the Federal Reserve may slow down the pace of interest rate cuts, which will lead to a stronger dollar, thereby forming a certain suppression on risky assets including Bitcoin. Despite this, the market's expectations for the Federal Reserve to cut interest rates at the December meeting are still biased towards a rate cut. Data from the Chicago Mercantile Exchange show that the market generally believes that the probability of the Federal Reserve cutting interest rates by 25 basis points in December is more than 70%. Lower interest rates usually stimulate market liquidity and provide support for risky assets, which may have a positive impact on Bitcoin prices.
(2) Web3 field:
Financial Times Alphaville issues apology letter: Reflecting on negative coverage of cryptocurrency
Alphaville, a column under the Financial Times, published an "apology letter" on December 5 in response to its negative coverage of cryptocurrencies over the past 14 years. The letter stated that as the price of Bitcoin exceeded $100,000, many readers believed that they deserved an apology. The letter mentioned:
“Our content may have conveyed that Bitcoin is a negative-sum game, inefficient as a means of exchanging value, and that its price is uncorrelated to any real utility. We are deeply sorry if you missed out on investment opportunities over the past 14 years due to our coverage, and are also happy that your holdings have risen. We also apologize if you interpreted our cynicism as support for traditional finance, of which we are equally critical.”
Despite this, the apology was not well received by the crypto community, with many considering it a “fake apology.” Commentators noted that Alphaville remains skeptical of Bitcoin and reiterated in the letter its view on the inefficiency of Bitcoin as a medium of exchange and a store of value.
3. Hot topic narrative
l New trends in the crypto market: AI agents and decentralized science (DeSci) lead the narrative trend in 2024
On December 6, DWF Labs co-founder Andrei Grachev posted on social media: "AI agents and De-DeSci seem to be the next hot topics in the market." He emphasized that both are community-driven, scalable, and in line with the global craze for AI and technology. Grachev believes that these emerging fields can be started anywhere without relying on venture capital, which makes them more flexible and potential.
As AI technology develops rapidly, the market's attention to its applications continues to increase, especially in the fields of cryptocurrency and blockchain. DeSci is an emerging trend that aims to use blockchain technology to improve the transparency and accessibility of scientific research. Grachev's comments reflect optimism about the future development of these fields, believing that they may attract more investors and developers.
In addition, according to the "Messari Theses 2024" report released by Messari, analysts are also optimistic about the prospects of combining AI with cryptocurrency, believing that this will be one of the important investment trends in the future. The report mentioned that emerging narratives such as DePIN, DeSoc and DeSci are gaining more and more attention, indicating that the market will usher in new growth points.
2. Attention Value-Hot Projects
1. Project Introduction
l $GOD | AI agent | @god
- GOD introduced the anti-proxy SATAN through Nous Research, and participation has increased significantly. This dynamic pairing seems to have reignited the interest of users and investors, and ordinary people are also looking forward to it, so it is worth keeping a close eye on future developments.
3. Attention Value-Sector Rotation
1. Hot topics
Source: Dune, Dot Labs
Source: Dune, Dot Labs
2. Inside the plate
Source: Dune, Dot Labs
