Why Bitcoin, XRP, Solana, and Ether Slide as Gold and Silver Soar?

The price of Bitcoin has fallen below $100000, and the market is paying attention to the driving factors behind it (Decrypt).

[Malicious Chrome Extension Disguised as Ethereum Wallet Steals User Mnemonics] GoPlus Chinese Community disclosed that a malicious Chrome extension named 'Safery: Ethereum Wallet' was released on November 12, 2024, disguising itself as an Ethereum wallet to steal user assets. The extension encodes user mnemonics into Sui addresses and uses microtransactions broadcasted through attacker-controlled Sui wallets to steal the mnemonics. The attacker's email is kifagusertyna@gmail[.]com, and the extension has not yet been removed from the Chrome Web Store.

[El Salvador's Bitcoin Holdings Reach 6,380 BTC, Unrealized Profit of $317 Million] According to data from El Salvador's Ministry of Finance website, El Salvador is purchasing 1 Bitcoin daily, with current holdings reaching 6,380.18 BTC, valued at approximately $630 million. Over the past 7 days, 8 BTC were added to its holdings. As Bitcoin's price declines, its investment's unrealized profit stands at $317 million, returning to levels seen in April to May this year.

[National Bureau of Statistics: International gold price increase impacts domestic CPI rebound] Fu Linghui, spokesperson for the National Bureau of Statistics, stated that the year-on-year CPI shifted from a decline to an increase, mainly due to the improvement in domestic market supply and demand dynamics, as well as the rebound in service prices and industrial consumer goods prices. In addition, the transmission effect of the rise in international gold prices also contributed to the CPI rebound.

[Alliance DAO Co-Founder: Cyclical Adjustments in the Crypto Market and AI's Dominant Role in U.S. Stocks] Alliance DAO co-founder QwQiao posted on the X platform, stating that despite macroeconomic indicators such as the Federal Reserve's quantitative easing suggesting an upward market trend, his intuition leads him to believe the market has entered an adjustment phase. He described crypto assets as a 'self-fulfilling asset class' and emphasized the inevitability of the four-year cycle prophecy. He noted that since mid-September, he has felt uneasy about the crypto market and observed that most seasoned traders and long-term investors have turned bearish. Regarding U.S. stocks, QwQiao believes AI is the core factor dominating the cycle, with an influence surpassing liquidity indicators and technical signals. He warned that if the AI bubble bursts, the market could face a collapse; conversely, if AI stocks continue to rise, bearish predictions will likely be proven wrong. He compared NVIDIA to Bitcoin in the crypto space and pointed out that when AI stocks rise, funds may flow out of crypto assets, creating a binary scenario of 'AI stocks versus everything else.' Additionally, he expressed optimism about stablecoin startups, considering them to face less competition and have greater growth potential compared to AI startups.