Bitcoin, Ethereum, and Dogecoin plummet, with liquidation amounts exceeding $1.1 billion

[Ethereum Plummets on Monday Due to Network Protocol Hack] The cryptocurrency market has yet to stabilize after the liquidation storm three weeks ago. On Monday, Ethereum experienced a sharp decline due to a hack targeting its token network protocol.

[BlackRock and 30 Other Companies Participate in Tokenized Collateral Pilot Study for Money Market Funds] A report from the Global Digital Finance (GDF) organization reveals that a working group of 70 companies has completed legal research and simulation testing on the tokenized collateralization of European money market funds. Participating institutions include BlackRock, State Street, UBS, Deutsche Bank, HSBC, and 30 other companies. The report highlights that currently, 68% of collateral is still delivered in cash form, and tokenizing money market funds could enhance collateral liquidity and alleviate asset liquidation pressure. The study focuses on analyzing the legal frameworks of the UK, Ireland, and Luxembourg, assessing the impact of tokenization on fund availability, operational risks, and regulatory risks.

[Probability of Fed Rate Cut in December Reaches 67.3%] According to data from the CME 'FedWatch' tool, the probability of the Federal Reserve cutting interest rates by 25 basis points in December this year is 67.3%, while the probability of maintaining the current rate level is 32.7%. Looking ahead to January next year, the probability of the Fed cumulatively cutting rates by 25 basis points is 55.8%, the probability of keeping rates unchanged is 21.8%, and the probability of cumulatively cutting rates by 50 basis points is 22.3%.

[David Sacks Calls Cryptocurrency the 'Industry of the Future'] David Sacks, the cryptocurrency czar of the Trump administration, stated that cryptocurrency is the 'industry of the future'.

The 1-hour cycle display shows that the member exclusive chip distribution indicator reveals strong resistance in the 3855-3939 area, with the current price around 3592, far from POC (3855), indicating heavy market selling pressure. At the same time, the trading volume shrank to 44.57% of the mean, combined with the black three soldier pattern and KDJ death cross signal, further verifying that the downward momentum is increasing. EMA24 and EMA52 are trending downwards with slopes of -0.97% and -0.69%, respectively, confirming a bearish trend in the medium to long term. If the price cannot effectively break through the 3600 level, it is expected to test the low support before 3556. Unlock member indicators, accurately capture resistance support and main trends, and take the lead in layout! The data is sourced from the PRO member's [ETH/USDT Binance USDT Perpetual 1-hour] K-line, for reference only, and does not constitute any investment advice.