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More →CryptoQuant analyst: Bitcoin funding rate drops to -0.0073%
According to Cointelegraph, the latest data shows that Bitcoin's funding rate on Binance has dropped to -0.0073%, indicating a bearish market sentiment amid rising expectations of interest rate hikes.
Global news on Friday: The three major U.S. stock indices closed higher collectively, and Meta released a new model.
CoinWorld news, Friday's global highlights include: The three major U.S. stock indices closed higher collectively, with the Dow up 1.08%, the Nasdaq up 0.08%, and the S&P 500 up 0.33%. Meta released the open-weight large model Muse Spark Open and partnered with Apple to promote local operation of the model on Mac computers. In addition, Israeli officials said the United States and Israel are consulting on plans to strike Iran. Federal Reserve's Hammack stated that successive supply shocks could trigger inflationary thinking, and if the public's inflation expectations worsen, the Federal Reserve may need to take more aggressive action.
Network School acquires Farcaster, platform renamed to Network State Protocol
Network School has acquired Farcaster from Neynar for an undisclosed amount. Neynar co-founders Rish and Manan will be leaving, while the remaining employees will join Network School. Farcaster has been renamed Network State Protocol, with the goal of building a digital society. Users will need to choose whether to accept or reject the social smart contract, and those who accept will receive an on-chain access NFT. Rish is considering spinning off Clanker and looking for a buyer.
Fed's Hammack: More aggressive rate hikes may be needed if inflation expectations worsen
According to CoinWorld news, Cleveland Fed President Beth Hammack said at a Goldman Sachs event that if the public's inflation expectations deteriorate significantly, the Federal Reserve may need to raise interest rates more aggressively. She is concerned that the formation of inflation psychology could make it difficult for monetary policy to achieve its goals, and the scale of action required may be larger. The Federal Reserve raised its target interest rate by 25 basis points last month to the 3.75%-4.00% range, and the market widely expects another rate hike before the end of the year. Recent inflation data show that price pressures are higher than expected, and some market observers have increased the probability of a Federal Reserve rate hike at the October FOMC meeting.
MSCI's new rules may exclude Strategy, affecting Saylor's Bitcoin financing model.
According to Bijie News, MSCI has adopted new rules that could remove Strategy from its global equity benchmark indexes, potentially triggering stock sell-offs and putting pressure on the financing model behind Michael Saylor's Bitcoin holdings. Under the new framework effective at the close on November 30, the index compiler will exclude companies classified as "non-operating companies" and introduce a financial test that could cause Strategy to become ineligible for inclusion in the MSCI global equity indexes. A final removal could deal a blow to Strategy's pioneering crypto asset reserve model and put pressure on its stock price as the pool of investors forced to hold the stock shrinks.
T. Rowe Price files for active crypto ETF with SEC
CoinWorld news, according to Cointelegraph, the U.S. Securities and Exchange Commission (SEC) has filed for T. Rowe Price's actively managed crypto ETF.
Google announces a breakthrough in the quantum computing bottleneck, with magic state cultivation technology significantly reducing error rates.
According to Bijie News, Google announced that its quantum AI team has successfully overcome a major bottleneck in quantum computing in a research study, using a technique called magic state cultivation to reduce error rates by about 40 times. This technique was implemented on Google's Willow processor, marking a significant reduction in the cost of building quantum computers and promoting their application in fields such as drug design and new material development. Google stated that the success of magic state cultivation technology will make quantum computers more feasible in practical applications and may have an impact on encryption technology in the future.
The 4-hour trading volume ratio of SOL contracts to spot is 9.03.
Bjie.com data: Over the most recent 4 full hours for SOLUSDT, perpetual contract trading volume was 9.03 times the spot trading volume. Compared with the same-caliber snapshot 24 hours ago, it rose by 1.2336; compared with the same-caliber snapshot 7 days ago, it fell by 0.4376.
The 4-hour trading volume ratio of ETH contracts to spot is 14.7.
Bjie.com data: Over the most recent 4 full hours for ETHUSDT, perpetual contract trading volume was 14.7 times spot trading volume. Compared with the same-caliber snapshot 24 hours ago, it rose by 4.6031; compared with the same-caliber snapshot 7 days ago, it fell by 0.3737.
Fed's Hammack: Worsening inflation expectations could force the Fed to take more forceful action
According to CoinWorld news, Cleveland Fed President Hammack said on Thursday that if the public's inflation expectations deteriorate, the Federal Reserve may need to take more aggressive action to address it. She is concerned that if an inflation mindset takes hold—that is, if the public begins to expect price pressures to become increasingly persistent—then monetary policy will be less able to function as it should. Hammack noted that if an inflation mindset has already formed, the Federal Reserve may need to take more forceful action.