📍US GDP in Q3/2025 shatters all negative forecasts
Specifically, US GDP in Q3 grew strongly by +4.3% QoQ, surpassing the +3.3% forecast and higher than the +3.8% of Q2. However, the GDP structure shows an unbalanced picture.
📌 The main driver remains consumption
- Consumption +3.5% QoQ, contributing more than half to the total 4.3% GDP.
- About 60% of which comes from services, especially healthcare and insurance.
- Goods are no longer the pillar.
📌 Net trade is a bright spot:
- Trade contribution +1.59bps.
- Exports +8.8% QoQ, reversing from -1.8% in Q2.
- Imports -4.7% QoQ compared to -29

Bitcoin, after a long period of closely following global liquidity, has been in reverse since July 2025. Never before has $BTC been priced low compared to market liquidity like this.

Unreliable US economic data, BoJ raising interest rates, Fed speaks… no one cares.
All attention on social media is focused on this incident.

📍 BoJ has raised interest rates from 0.5% to 0.75%, the second increase of the year, with an unanimous vote of 9-0.
This is the highest interest rate since 1995. A milestone that Japan has not reached in nearly 30 years of cheap money.
BOJ affirms it will continue to raise interest rates if the economic and inflation scenarios unfold as forecasted.
Hoping to achieve the long-term 2% inflation target through wage increases (a factor Japan has overlooked for decades)
BOJ still deliberately remains vague about the neutral interest rate (with an estimated range of 1.0%-2.5%), the Yen continues to

📍 Fed Waller: Monetary policy remains in a tightening stance
📌 Mr. Waller believes that the current policy stance remains hawkish, even though the Fed has begun a rate-cutting cycle. Specifically, he estimates that the current policy rate is still about 100bps above the neutral level, indicating room for further cuts next year.
📌 He wants the Fed to lower interest rates to help improve the labor market and support economic prospects in 2026. But Waller also emphasized that "there is no pressure to cut aggressively."
📌 Emphasizing the importance of the Fed's independence.

📍 Nuno F. G. Loureiro, 47 years old, plasma physics professor, nuclear science at Massachusetts Institute of Technology (MIT) was shot dead at his private residence in Brookline, Massachusetts.
He researched and was in the process of realizing fusion power plants as a source of clean and (fusion power) - a clean and nearly limitless energy source.
His death will set back these achievements in the field by many years.
It seems everyone has guessed the real cause behind it..

📍 The upcoming week is noteworthy: the US employment report and CPI will be released
📌 The market is awaiting the US November employment report and CPI — perhaps the final two pieces closing out 2025 before the Fed makes decisions early in the new year. The employment report will include a portion of October due to the US government shutdown.
📌 Market expectations are currently modest regarding economic data:
- NFP is forecasted to increase by only +30K to +50K, significantly lower than the average of previous months.
- Unemployment rate around 4.3% ( remains high ).
- Wage growth continues

📍 Trump announces leading candidate for Fed Chair: Not Kevin Hassett?
Trump has just confirmed Kevin Warsh - former Fed Governor (2006–2011), currently the top contender for the Fed Chair position after Powell. This information contradicts earlier market expectations, which believed that Kevin Hassett - Trump’s close economic advisor - was the number one choice.
📌 Who is Kevin Warsh?
🔸 Former Fed Governor, participated in handling the 2008 financial crisis.
🔸 Has a stance favoring monetary discipline but agrees with Trump that the Fed kept interest rates too high for too long.
🔸 Highly re

🔸 The amount of stablecoins deposited on exchanges is plummeting from its peak near $158B in August and is now only around $76B.
🔸 This means the flow of capital into exchanges has evaporated by more than 50% in just a few months. The 90-day moving average has also fallen from $130B to $118B, confirming a continuous weakening trend. Will the Fed's intervention soon change this trend? $btc

📍 #FOMC: The Fed cuts 25bps, raises GDP forecast, lowers PCE forecast, Dot Plot continues to show internal division
📌 #Fed lowers interest rate by 25bps to 3.5% - 3.75%, market had already expected this.
The 9-2 vote shows polarization within the Fed:
- Mester wants a 50bps cut.
- Goolsbee & Schmid want to keep rates unchanged.
- One member wants to accelerate rate cuts further, while the rest do not want to loosen further. The Fed lacks consensus for the upcoming easing cycle after QT ends.
📌 The December Dot Plot is very unusual: 6 dots for unchanged 2025, but only 2 dissenters in the vot

📍 A Silk Road-related wallet cluster becomes active again after more than 10 years
📌 On-chain data shows that 312 BTC wallets labeled Silk Road all became active again a few hours ago, transferring about $3.14M #Bitcoin sau hơn một thập kỷ gần như không nhúc nhích. Phần lớn còn lại ($41M #BTC) still remain on the wallets.
📌 There is no evidence to predict who is controlling these wallets. These are not wallets seized by the US government, they do not match the US Marshals' previously published wallet clusters, and there is no evidence related to Ross Ulbricht or the old Silk Road team.
📌 T

🔸Major economies are operating with record leverage in history, so who is really the creditor?
- Japan leads the way with public debt of ~215% of GDP – no other country has ever reached this level.
- The United States ranks 2nd ~125% of GDP, which is near its historical peak.
- The EU is no exception to ~95% of GDP.
- China has also just set a new record, ~93% of GDP. And this number has doubled in just a decade.
🔸As all four economic locomotives accelerate with debt, the world is forced to adopt a more fragile financial structure. If fiat loses confidence, gold and BTC (tài cung) fixed asse

📍 Americans are entering 2026 with the bleakest financial outlook since the pandemic.
📌 According to a survey by the New York Fed, more and more people believe their financial situation will worsen in the next 12 months. Conversely, the group that believes they will be better off has dropped to an extremely low level, just ~4%. In a society of 300 million people, with only 4% believing they will be better off in the short term, this is a signal that cannot be ignored.
📌 For the past decade, Americans' sentiment has been fairly stable. Most believed their financial lives would stay the same

🔸 @bittensor enters its first halving: What scenarios for $TAO price?
📌 TAO is an open infrastructure layer for AI, where each subnet represents a small market for compute, data, or models. DTAO launched in February, accelerating expansion as new subnets continuously form, including networks that have started to reach product market fit like Chutes, which provides serverless inference for developers and is being widely integrated into AI aggregator systems.
📌 The halving on 12/14/2025 will reduce issuance from 7,200 $TAO to 3,600 $TAO per day. If demand continues to rise, the system's nat

📍 September PCE comes as no surprise, high chance the Fed will cut rates next week
🔸 Headline PCE increased +2.8% YoY, matching the forecast and higher than August’s +2.7%. Month-over-month, #PCE headline +0.3% MoM (unchanged).
🔸 Core PCE stands at +2.8% YoY, slightly below the +2.9% forecast and last month; MoM remains at +0.2%.
🔸Goods prices didn’t increase much, services contributed the most: +0.246%, higher than August’s +0.238%.
🔸Supercore PCE (services excluding housing and energy) eased to +0.22% MoM and +3.26% YoY. However, the Financial services & insurance segment rose +0.852% Y

📍 Trump announces new national security strategy: US wants to redraw the geopolitical map
📌Trump's 2025 national security strategy is the most significant shift (announced) in US foreign policy since the Cold War. The focus is reversed: "America First," narrowing global commitments and preparing for long-term competition with China. The priorities are as follows:
📌Domestic and Western Hemisphere
🔸 Borders, immigration, crime, and fentanyl are seen as national security threats.
🔸 The Trump Corollary expands the Monroe Doctrine, demanding the removal of all non-regional influences from the

📍 BOJ faces its biggest turning point in 30 years: The market is pricing in a 90% chance of raising interest rates to 0.75% on December 19 – the highest rate since 1995.
🔸Japan has officially ended the era of cheap money that lasted since the 1990s. For nearly 25 years, the Japanese economy has existed in a structure of deflation and ultra-loose policy. The BoJ has already "signaled" this shift throughout 2023-2024, but 2025 will be the official year they reverse policy. Persistent inflation, a weak yen, and wage pressures are forcing the BOJ to step out of its comfort zone.
🔸Bloomberg's OI