#Gate广场圣诞送温暖 Recent Unfavourable Information summary in the crypto world:

1. AI bubble suppresses US stocks

The market questions the authenticity of Nvidia's accounts receivable and revenue, with institutions intensifying the sell-off and raising concerns about the AI bubble, dragging down the sentiment of US stocks and risk assets. After the clarification from Federal Reserve officials and Nvidia's CEO last night, US stocks briefly rebounded.

2. ETF record outflow

BlackRock's IBIT had a daily outflow of 523 million USD, with a net outflow of over 2.5 billion USD this month; retail investors are heavily selling BTC and ETH ETFs, becoming the main source of selling pressure in the crypto market.

3. DAT Flywheel Stalled

Mainstream DAT company mNAV fell below 1, and the model has failed; some small DATs have begun selling off their crypto reserves to buy back stocks, exacerbating market panic.

4. The expectations for interest rate cuts in December are swinging.

The US government shutdown has led to data gaps and increased macro uncertainty; strong inflation and employment have suppressed interest rate cut expectations, with the probability dropping from 70% to 30%, and the latest dovish comments from the Federal Reserve have pushed it back up to around 71%.

5. Experienced traders in the crypto world are bullish on BTC, leading to a collapse in the crypto world.