BTC falls below the $90000 mark

[10-Year U.S. Treasury Yield Rises Approximately 5 Basis Points During Fed Rate Cut Week] On Friday (December 12), at the close of trading in New York, the yield on the 10-year U.S. benchmark Treasury note rose 2.75 basis points to 4.1841%, with a cumulative increase of 4.90 basis points for the week, trading overall within the range of 4.1002%-4.2074%. The yield continued to climb from Monday to Wednesday ahead of the Federal Reserve's announcement of a rate cut and Treasury purchase plan, then exhibited a V-shaped trend. The yield on the 2-year U.S. Treasury note fell 1.82 basis points to 3.5222%, with a cumulative decline of 3.81 basis points for the week.

Itau Unibanco, a Brazilian bank with assets of $200 billion, now recommends a 3% allocation of Bitcoin. （Bitcoin Archive）

[Powell: AI is a 'partial reason' for worsening U.S. unemployment rate] Federal Reserve Chairman Powell stated at a press conference that AI is a 'partial reason' for the worsening unemployment rate, which is also one of the contexts behind the Fed's second interest rate cut within two months. Powell added that AI is not currently the main reason, but the current AI wave may have a worse impact on the workforce than the technological revolutions of the past 200 years. Powell believes the era of generative AI may differ from the past, and if that is indeed the case, the Federal Reserve does not have sufficient tools to address the related societal and labor market impacts.

[BofA Strategists: U.S. Money Market Rates May Not Normalize Until December 2026] Bank of America strategists Mark Cabana and Katie Craig pointed out that due to the size of reserves the Federal Reserve needs to replenish exceeding the current bond purchase plans set by the Fed, money market rates may not return to more normalized levels until December 2026.

Cryptocurrency exchange Coinbase plans to launch its own prediction market, which is currently experiencing a surge in popularity and scrutiny. （Decrypt）