📍 What is the market waiting for from the Fed chair's speech in the coming hours?
📌Interest rate roadmap: Above all, the market wants to hear Powell reveal more about the upcoming direction: QT has ended and the QE plan in the near future. There is a significant division within the Fed, and even a slightly off-key remark from him could immediately reprice the likelihood of a rate cut.
📌 Views on the labor market and inflation: If the official acknowledges that the labor market is cooling faster than expected or that inflation is sustainably softening, the market will interpret this as a

🔥The People's Bank of China (PBoC) has just reaffirmed that all activities related to crypto on the mainland are still considered illegal: Trading, investing, token issuance, stablecoin, and mining are all completely prohibited.
📌The PBoC issued a separate warning about stablecoins, stating that this type of asset poses high risks in money laundering, illegal fundraising, and uncontrolled cross-border remittances.
📌Immediately after the announcement, many businesses and stocks related to crypto in Hong Kong witnessed strong selling pressure due to concerns over widespread policy risks.

🟠 Trump declares "Have chosen a replacement for Powell"?
📌Trump has not specifically announced who the chosen one is, but the market is almost certain that it is #Kevin #Hassett. Right at the moment, the White House is preparing a pro-growth policy framework for 2025–2026 (which includes boosting domestic production and reducing interest rates concurrently). Trump needs a #Fed Chair who can implement that philosophy, and the most suitable name is Kevin Hassett.
📌 Hassett is market-friendly - super friendly with the White House
- He was the Chairman of Trump's Economic Advisory Council,

🟠 The SIMD-0411 proposal could save the price for $SOL
📌SIMD-0411 is a proposal to change the inflation mechanism of #Solana, part of the "Solana Improvement Documents" – similar to Ethereum's EIP but lighter, focusing on protocol economics.
The SIMD-0411 proposal aims to accelerate Solana's inflation reduction from 15% to 30% per year, reducing the time to reach an inflation rate of 1.5% from 6 years to just 3 years (.
The builder wants to bring Solana into a mature stage, where the project no longer relies on token dumping but lives on the actual demand of the network - fees, MEV,

📍KITE – a dedicated infrastructure for the AI agent economy
📌 @GoKiteAI does not attempt to become a "multi-purpose L1" like the myriad of chains out there. Instead, they choose a specific niche of building infrastructure for a world where AI agents operate autonomously, trade autonomously, and interact with on-chain assets.
📌The most notable point is the Proof of Artificial Intelligence mechanism (PoAI). Instead of letting miners or validators decide the network, KITE re-designs the entire operational cycle: data providers, model builders, and the AI agents themselves all have weight in th

📍KITE – a dedicated infrastructure for the AI agent economy
📌 @GoKiteAI does not attempt to be a "multi-purpose L1" like the numerous chains out there. Instead, they choose a specific niche to build infrastructure for a world where AI agents operate autonomously, trade on their own, and interact using on-chain assets.
📌The architecture of KITE is divided into three layers: Layer-1 as the foundation, specialized subnets for data - models - agents, and an application layer for developers to plug products into without struggling with infrastructure. This modular thinking allows KITE to scale a

The largest gold buyer in the world in Q3 2025 is not America or China, but @Tether_to.

🟠 JPM - MSTR: Which side is correct?
📌JPMorgan has sparked a controversy by claiming that MicroStrategy no longer qualifies to be included in ETFs and blue-chip indices such as NASDAQ100, MSCI USA.
Their argument is very clear: MSTR is no longer an operating business but has become a Bitcoin holding fund in disguise.
📌This is completely justified:
- Revenue from MSTR's "non-crypto" business is ~$475M/year - only accounting for 5% of the value that the market is pricing.
- The rest is Bitcoin.
acquire USD
=> From this perspective, JPM is completely right in saying that MSTR is a levera

🔥If using Risk-Off as a bottom-finding indicator and comparing it with history, then this week will be decisive. The market needs to see selling pressure continue to fall.
🔥Typically, BTC creates a bottom through a second sell-off, when the selling pressure is weaker than the first round and the price does not create a lower bottom than (, which technical analysts often refer to as divergence ).
This is often the most reliable bottom signal – the stage where sellers are exhausted and control shifts back to the bulls.

🟠 Looking back at $BTC price data from 2018-2025, you have to focus on the type of panic, not just the size of the drop.
📌 Chain-reaction crashes like Luna and 3AC hit market confidence so hard that $BTC’s 7-30 day recovery is noticeably weaker. Meanwhile, crashes driven by policy or geopolitical shocks (tariff fears, mining ban, regulatory panic) historically bounce much stronger in the following 7-30 days.
-> Macro policy panic only delivers real damage when the market is already overstretched. Capital truly leaves the system only when the crash is structural and contagious.
📌 On average,

📍Fed Governor Waller: "Supports interest rate cuts"
📌The labor market is not improving, supporting the cut in interest rates.
📌The employment data for September is likely to be adjusted down (.
📌Inflation has increased but will start to decrease.
📌The impact of tariffs on inflation is only a one-time event.
The Fed rate cut probability in the December FOMC has risen to nearly 80%.

📍In the BTC liquid staking race, where does @LorenzoProtocol stand?
📌Currently, the market has four groups of projects competing for the same capital: BTC is lying still in the holder's wallet.
- Babylon: Staking infrastructure layer for BTC, focused on technology.
- Bouncebit: A CeDeFi project, quickly increasing TVL but with high concentration risk.
- BTC L2 (Bitlayer, Botanix, Stroom...): move BTC to L2 for DeFi use, in exchange for bridge risks and complex experiences.
- Lorenzo: Use Bitcoin ( security through Babylon) to create a liquid staking token that can be used directly in DeF

Bloomberg confirms that Bitmain – the largest ASIC manufacturer in the world, accounting for up to 80% of the market share – is under national security investigation in America. The investigation, named Operation Red Sunset (ORS), began during the Biden administration but has only now been disclosed, aimed at examining whether Bitmain's devices contain vulnerabilities that allow remote control, interfere with energy infrastructure, or pose risks in areas near military bases. Some of Bitmain's shipments had previously been held by U.S. Customs for firmware and chip inspection.
Although

Current issues of the Vietnamese economy:
Outdoors, although the Fed has started to cut interest rates, it has not completely stopped QT, ( QT pace ~5B/week ), RRP = 0, and reserves are lower than the level that previously put pressure during SVB.
The Fed is not yet ready to transition to a loose stance. The reason also lies in the inertia of U.S. inflation. The service economy often causes the CPI to decrease slowly, while nominal wages continue to rise steadily. When inflation still has a lag, the Fed finds it difficult to expand liquidity because that could easily recreate price pressures.

📌 Restructuring: Full-time rise to the sky, part-time collapse
This is the biggest insight of the month:
- Full-time: +673K
- Part-time: -573K
Reverse the employment trend of August. Companies are reducing the demand for part-time labor (, which is typically used when demand is weak ), to shift to hiring full-time. This shows the restructuring policy under Trump ( tightening immigration labor + prioritizing native ).
temporarily stable.
📌 The unemployment rate jumped to 4.4% - the highest in 4 years. The U-rate increased to 4.4%, continuing to break above the stable trendline of 2022–2024.

🟠 The FOMO tech-stock frenzy has spread to the elderly in America: The elderly are selling bonds aggressively, all-in on tech stocks.
📌The scariest point of the current bull market is not just FOMO, but the fact that people who do not have much knowledge about the market, such as the elderly, are starting to pour money into riskier assets. The elderly in America are turning away from bonds to invest in stocks, especially tech stocks.
📌Don't underestimate this group, people over 70 years old ( are the group that holds the most assets in America.

📌In the context of the S&P 500 and the

📍 FOMC Minutes: The Fed remains dovish, but the market has significantly lowered expectations for a rate cut in December.
📌 Fed Minutes support a continued decrease in interest rates:
Q3 economy grew slightly, the labor market cooled significantly, unemployment ticked up but remains very weak. Inflation (excluding tariff impacts) decreased as the Fed desired. Most in the FOMC are ready to cut again in December if labor data continues to be weak.
QT stops on 01/12 and the Fed begins to shift from long-term bonds to short-term.
Signal of structural easing, reducing liquidity pressure.
📍 The

📌Gold is having a breakout year: +54%, becoming the largest asset that has risen to the sky in 2025. Meanwhile, Bitcoin -1%, officially the worst asset of the year - something that hasn't happened in over a decade.
📌High beta trade this year is not crypto, but AI + growth equities.

📍 Expectations for the Fed to lower interest rates in December continue to recede
📌 After a series of slow declines in service inflation data and the hawkish statements from Daly (San Francisco Fed) and Hammack (Cleveland Fed), the market quickly repriced its expectations for monetary policy. The probability of the Fed cutting interest rates in December is currently around 40%, reflecting a noticeably more cautious sentiment compared to the early part of the quarter.
📌 Core CPI ( excluding the impact of tariffs ) still shows a downward trend, the cooling labor market has pulled back consume