KEYTAKEAWAYS
- Bitcoin Stabilizes in the Short Term, Sentiment Remains Cautious Ahead of FOMC Meeting
- US SEC Chairman: US Markets Will Be Fully On-Chain Within Two Years
- BRICS Nations Launch Gold-Backed Digital Currency "Unit"
CONTENT
Welcome to CoinRank Daily Data Report. In this column series, CoinRank will provide important daily cryptocurrency data news, allowing readers to quickly understand the latest developments in the cryptocurrency market.
Bitcoin Stabilizes in the Short Term, Sentiment Remains Cautious Ahead of FOMC Meeting
Matrixport’s chart today points out that with the December 10th FOMC meeting approaching, market sentiment is highly focused on related policy signals. While Bitcoin prices have stabilized somewhat, it’s difficult to consider this a new round of upward movement. Option pricing still implies approximately 5% downside, with funds still hedging against pullback risks. Given the general trend of deleveraging and position reduction at the end of the year, short-term rebounds are more likely to be used as a window for reducing positions rather than a new signal to add to them.
From a seasonal perspective, market liquidity tends to be tight around Christmas, making it easy to suppress the sustainability of upward trends. The current key level for bulls and bears is roughly around $91,500. Statistically, the baseline scenario remains continued volatility convergence, and the possibility of a strong breakout immediately after the FOMC meeting is relatively limited.
US SEC Chairman: US Markets Will Be Fully On-Chain Within Two Years
According to a video shared by Coin Bureau, US Securities and Exchange Commission (SEC) Chairman Paul Atkins stated in a live interview with Fox News that the US market will be fully on-chain within two years.
BRICS Nations Launch Gold-Backed Digital Currency “Unit”
According to Intellinews, citing the Institute of Economic Strategy of the Russian Academy of Sciences (IRIAS), the BRICS nations have launched a working prototype of a gold-backed trade currency called “Unit.” This is a digital trading instrument backed by a reserve basket comprising 40% physical gold and 60% BRICS currencies, with the Brazilian Real, Chinese Yuan, Indian Rupee, Russian Ruble, and South African Rand having equal weights.
The pilot project was initiated by IRIAS, which issued 100 Units on October 31, each initially pegged to 1 gram of gold. While this initiative is not yet official policy, its existence represents a direct step towards de-dollarization. The value of “Unit” is designed to fluctuate daily based on the exchange rate of its constituent currencies against gold.
As of December 4, market fluctuations had adjusted the value of the reserve basket to the equivalent of 98.23 grams of gold, effectively making each unit worth 0.9823 grams of gold.
