AICoin Focus: Daily Hotspot Selection (October 5th)

According to on chain analyst Yu Jin's monitoring, Arthur Hayes marked the address to release 9.018 million ENAs, and then recharged 7 million ENAs to Binance, worth $8.47 million

Solana-based bonk (BONK) led growth among dog-themed memes Saturday as bitcoin staged a recovery rally to above $98,000, a day after Friday’s bloodbath that pushed it near $93,000.BONK surged 30%, CoinGecko data shows, with dogecoin (DOGE), shiba inu (SHIB), dogwifhat (WIF) and floki (FLOKI) surging as much as 20%. The dog-themed token category gained 8% on average in the past 24 hours, beating a market-wide jump of 4.5% as tracked by the broad-based CoinDesk 20 (CD20) index.Memecoins are known for their high volatility and tend to outperform major tokens during price rallies, serving as a leveraged bet on the overall crypto market sentiment.However, in this case, fundamentals are helping back gains and sentiment among some memecoins. FLOKI was named alongside ether (ETH) and Avalanche’s AVAX as a utility token in a Commodity Futures Trading Commission (CFTC) meeting last month.The derivatives regulator proposed in a Global Markets Advisory Committee (GMAC) a new class of assets termed utility tokens, which fulfill six criteria that include providing their holder “immediately available, non-incidental consumptive use” in a crypto platform without including “governance and voting abilities.”"FLOKI was recently highlighted by the CFTC's Global Markets Advisory Committee as a case study of a utility token, which is a big deal and validates Floki's utility-first approach,” Floki lead developer B told CoinDesk in a Telegram message. “Floki's Valhalla metaverse game will go live in early Q1 2024, and the recently released Floki Trading Bot has generated over a million dollars in fees.“This puts Floki on an entirely different level from other memecoins, especially when the market turns and people start to pay attention to fundamentals again,” B added.Elsewhere, interest in BONK comes as a host of activities intend to deflate token supply gain traction among users — a move that has historically contributed to higher prices.BonkDAO, a decentralized group of bonk believers that maintain the token, burned 100 billion tokens from the circulating supply in November and targeted a trillion token burn in December. This could increase the token's value due to scarcity.🔥 In just the last 30 days, over 30 BILLION $BONK have been burned across 3,856 wallets, averaging a scorching 1 BILLION daily! Leading the charge are @bonkbot_io and @BonkEarn, setting the standard for burns. And guess what? 1 TRILLION $BONK is about to go up in smoke by… pic.twitter.com/bWkkPd5ISZDecember 20, 2024The feat could meet its target in the weeks ahead, observers say.

According to News.bitcoin, the cryptocurrency market has been unpredictable in recent days, just like the shutdown of US government agencies. There are reports that the US government is about to shut down due to stalled spending negotiations, which historically has affected the market in various ways. Due to the disillusionment of short-term expectations among market participants, Arthur Hayes believes that the cryptocurrency market will experience a "dismal decline" near Trump's inauguration day. However, the cryptocurrency community is holding its breath to watch as Trump's inauguration may trigger a legendary "God Candle" trend (note: God Candle "refers to a significant increase in prices within a day, overshadowing peripheral activity on price charts). This means that the current market downturn is only a temporary calm and is a bear market stage in a larger bull market cycle. If the United States solves the 2025 budget problem and Trump implements multiple Bitcoin focused strategies to encourage the market, Bitcoin may experience a huge recovery. Of course, the real-time price trend of Bitcoin is still unclear at present. It is uncertain whether Trump's inauguration as the President of the United States will usher in the expected prosperity of the cryptocurrency market.

The main large order is displayed on the K line in the form of a horizontal line, the thicker the line means the larger the pending order amount, and the longer the line represents the longer the pending order time

This week, the Federal Reserve finally confirmed the long-awaited "turn" in the market, with the central bank's statements and updates to economic forecasts having a huge impact on the market. Market participants currently predict that the Federal Reserve will cut interest rates by about 40 basis points by December 2025, and the yield of US treasury bond bonds will rise accordingly. Earlier this week, Bitcoin fell from its historical high, and on Friday, it continued its downward trend in the European market, approaching $95000 at one point. Earlier, Bitcoin had just hit a new historical high of over $108000, and the current decline in the cryptocurrency market has had a greater impact on altcoins such as Ethereum and Dogecoin. In addition, US exchange traded funds (ETFs) that directly invest in Bitcoin also ended 15 consecutive days of inflows this week, setting a record of $680 million in outflows, highlighting the shift in market sentiment. Due to the arrival of Christmas, the market next week will be relatively calm, but there are still some influential data. However, due to thin liquidity, market volatility may become significant. The following are the key points that the market will focus on in the new week: Monday 23:00, Consumer Confidence Index of the December Conference Board in the United States; At 21:30 on Thursday, the number of initial jobless claims in the United States for the week ending December 21st. For the US dollar, with the overall hawkishness within the Federal Reserve, it is expected that the dollar will not easily lose its throne this year, although the low trading volume during holidays may trigger some unnecessary fluctuations. Overall, if there is any market turbulence during the holiday season, it is more likely to hit the US stock market and US Treasury. The hawkish position of the Federal Reserve has not been welcomed by Wall Street. With the continuous rise in the yield of US treasury bond bonds, the selling may intensify.