#Gate广场圣诞送温暖 Recent Summary of Negative News in the Crypto Space:

1. AI Bubble Suppresses US Stocks

The market is questioning the authenticity of Nvidia’s accounts receivable and revenue. Institutional sell-offs are intensifying concerns over an AI bubble, dragging down US stocks and risk asset sentiment. US stocks rebounded briefly last night after clarifications from Federal Reserve officials and the Nvidia CEO.

2. Record ETF Outflows

BlackRock’s IBIT saw a single-day outflow of $523 million, with net outflows exceeding $2.5 billion 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 Stalls

Mainstream DAT companies’ mNAV has fallen below 1, signaling the failure of the model. Some smaller DATs have begun selling crypto reserves to buy back shares, intensifying market panic.

4. December Rate Cut Expectations Waver

A US government shutdown has led to missing data and increased macro uncertainty. Strong inflation and employment data are suppressing rate cut expectations, with the probability dropping from 70% to 30% at one point; the latest dovish comments from the Federal Reserve have pushed it back up to around 71%.

5. Veteran Crypto Traders Are Bullish on BTC, Causing the Crypto Market to Crash