1. Due to the U.S. government shutdown, October non-farm data will be absent

Due to the U.S. government shutdown, the October non-farm employment data, originally scheduled to be released tonight at 21:30 (UTC+8), is expected to be postponed. This will mark the second consecutive absence of non-farm data, as the September non-farm report also failed to be released as scheduled. The U.S. Secretary of Labor recently reiterated that the non-farm report will be published when the government resumes operations, and no economic data can be released before that. On Friday, the U.S. Senate plans to vote on a new temporary funding bill to end the government shutdown. The Senate has previously failed to vote 14 times, setting a record for the longest government shutdown in U.S. history. -Original

2. U.S. October New York Fed 1-year inflation expectation drops to 3.24%

The U.S. October New York Fed 1-year inflation expectation is 3.24%, down from the previous value of 3.38%. The New York Fed stated that expectations for future financial conditions have declined in October, with mixed prospects for commodity prices, and households generally have a negative outlook on the labor market. -Original

3. Gold price breaks $2800/ounce, setting a new historical high

On November 7, U.S. President Trump stated at the "U.S. Business Forum" in Miami that the U.S. should fully embrace the cryptocurrency industry and signed an executive order to "end the federal government's war on crypto assets," proposing to build the U.S. into a "Bitcoin superpower" and a global center for crypto assets. JPMorgan released a report predicting that Bitcoin prices could reach around $170,000 in the next 6 to 12 months, believing that the leveraged market has completed its de-risking adjustments, and the rising volatility of gold makes Bitcoin more attractive on a risk-adjusted basis. The report pointed out that Bitcoin's current price is about $68,000 below its fair value, indicating significant upside potential. Meanwhile, Ark Invest founder Cathie Wood lowered her long-term expectations for Bitcoin, believing that the growth of stablecoins may affect Bitcoin's store of value function. A VanEck report showed that in October, digital asset treasury continued to net increase in crypto assets, with the scale of crypto lending reaching $73.6 billion in Q3, nearly tripling since the beginning of 2024. -Original

4. New York Fed President says Fed stops balance sheet reduction based on market signals

New York Federal Reserve Bank President John Williams stated that recent fluctuations in the overnight financing market indicate that the Fed's bank reserves are nearing an ideal level. In his speech at a conference in Frankfurt, he mentioned that pressures in the repo market and other signs show that reserves are transitioning from "ample" to "adequate," and are expected to reach adequate levels soon. Williams also anticipated that short-term liquidity tools such as the standing repo facility will continue to play a key role in the money market to ensure that the federal funds rate remains within the target range and to curb upward pressure on money market rates. -Original

5. Forbes criticizes Trump for purchasing Bitcoin at $115,000 leading to losses

On November 7, Forbes published an article stating that the Trump family had previously sued Forbes for its inaccurate reporting on Trump Media, calling Forbes a "fake news media." Forbes published the article as Bitcoin fell below $100,000, criticizing Trump for poorly timing his purchase of Bitcoin at a cost of $115,000 each. The article pointed out that Trump spent $2 billion this summer through Trump Media to purchase Bitcoin, but in the past month, Bitcoin's price has dropped by 17%, and Trump Media's stock price has fallen by 24%, resulting in a $490 million indirect loss in Trump's personal wealth. -Original

6. Garden attacker transfers 501 BNB and 1910 ETH to Tornado Cash

According to CertiK Alert monitoring, the Garden attacker has transferred 501 BNB and 1910 ETH (totaling approximately $6.65 million) to Tornado Cash. The address starting with 0x98BC still holds about $910,000 in assets. Garden Finance was attacked on October 31 due to a solver breach, resulting in losses of approximately $10.8 million. -Original

7. U.S. Bitcoin ETF net inflow of 2384 BTC, Ethereum ETF inflow of 10789 ETH

According to Lookonchain monitoring, the U.S. Bitcoin ETF saw a net inflow of 2384 BTC today, while the Ethereum ETF had a net inflow of 10789 ETH. -Original

8. Japanese financial regulators support three major banks in exploring stablecoin issuance

Japan's Financial Services Agency (FSA) stated that Mitsubishi UFJ Financial Group (MUFG), Sumitomo Mitsui Banking Corporation (SMBC), and Mizuho Bank will jointly explore the issuance of stablecoins as electronic payment tools. -Original

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