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4E: CPI data release is imminent, Trump trades on hold

ChainCatcher News, the U.S. October CPI report is about to be released. As the first major economic data after the election, it will clearly be a key factor influencing the future policy path of the Federal Reserve. Before this important inflation data is released, the market's rapid upward momentum has paused.According to 4E monitoring, all three major U.S. stock indexes fell on Tuesday. The Dow Jones Industrial Average closed down 0.86%, while the S&P 500 and Nasdaq ended their five-day winning streaks, closing down 0.29% and 0.09%, respectively. Among them, "Trump trade" stocks led the declines, with Tesla down 6.1% and Trump Media Group falling nearly 9%. Cryptocurrency-related stocks had mixed results, with MicroStrategy (MSTR) up 4.88% and Coinbase down 1.58%.The cryptocurrency market generally experienced a pullback, with Bitcoin slightly adjusting after breaking through the $90,000 mark to reach a new high. As of the time of writing, it was reported at $88,196, down 0.61%, while Ethereum was at $3,270, down 1.66%.In the forex market, the U.S. dollar index rose to its highest level since November 2022 on Tuesday, pushing the euro to its lowest in a year, the yen to its lowest in three months, and the offshore yuan briefly fell below 7.25 yuan, with other currencies also under pressure. Weighed down by the strengthening dollar and OPEC's fourth consecutive month of lowering global oil demand growth expectations, oil prices have dropped about 5% over the past two trading days. The rise in the dollar index has pressured gold prices down to nearly a two-month low.After the election, the market has already seen a significant rise approaching overbought conditions, and investors are beginning to consider that the main trading line in the market may shift back to the outlook for monetary policy. The U.S. October CPI report, which will be released tonight, could have a critical impact on the Federal Reserve's future interest rate cut process. Any significant surprises in the CPI report could trigger more pronounced market volatility. eeee.com is a financial trading platform that supports assets such as cryptocurrencies, stock indices, commodities like gold, and foreign exchange. Recently, it launched a USDT stablecoin financial product with an annualized yield of 5.5%, providing potential hedging options for investors. 4E reminds you to pay attention to market volatility risks and to allocate assets wisely.

Wang Feng: Blueport Interactive strategically holds Bitcoin and will disclose tactical reduction progress in a timely manner

ChainCatcher news, Wang Feng, the founder of Blueport Interactive, stated on his X platform: "Why did Blueport Interactive buy Bitcoin, and what’s next? I will answer five points here:Our holding of Bitcoin is strategic. We are optimistic about Bitcoin network applications, decentralized finance, and empowering real assets and crypto assets aimed at Web3 applications.I am a fervent believer in crypto technology and have launched Marsbit, Consensus Lab (LK Venture), Mars Cloud Mining, and Element over the past five years. After regaining the CEO position in the first quarter of last year, I have vigorously promoted the integration of Blueport Interactive with Web3 business attempts.I am pleased that today Bitcoin has reached a new level close to $90,000, with our first purchase price at $26,000, followed by subsequent purchases. I first advocated for Blueport Interactive to buy Bitcoin when it was over $4,000, but at that time it was difficult for our board to execute.We will inevitably disclose the progress of linear reduction at the appropriate time; crypto assets, like stocks, have a market norm of volatility, and any reduction is tactical; if there is a reduction today, it must be for an increase tomorrow.We are long-term optimistic about Bitcoin; and we are very optimistic about the possibility of significant growth within this year or the first quarter of next year."
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