KEYTAKEAWAYS
- US December Non-Farm Payrolls Report Release
- Crypto Fear and Greed Index Drops to 50
- PeckShield: Over 300 Crypto Hacks in 2024
CONTENT
US DECEMBER NON-FARM PAYROLLS REPORT RELEASE
The US December Non-Farm Payrolls Report will be released at 8:30 AM EST（UTC-5）
Analysis:
The Non-Farm Payrolls data is a key indicator of the health of the US economy and directly influences the Federal Reserve’s monetary policy decisions. A strong job market typically boosts market confidence in economic recovery, but it could also trigger concerns about the Fed tightening monetary policy more quickly, which could affect market sentiment.
For the cryptocurrency market, the release of this data often triggers volatility:
If the Non-Farm Payrolls data exceeds expectations, markets may anticipate the Fed will continue or accelerate interest rate hikes. In this case, the US dollar tends to strengthen, and risk assets (including cryptocurrencies) may face selling pressure, leading to price declines.
If the Non-Farm Payrolls data falls short of expectations, markets may expect the Fed to maintain a looser monetary policy or even delay rate hikes. This could weaken the US dollar, potentially boosting the cryptocurrency market, including Bitcoin.
Therefore, tonight’s Non-Farm Payrolls report will be an important short-term volatility factor for the cryptocurrency market. Investors need to monitor the market’s reaction to the data release, especially the price movements of Bitcoin and other major cryptocurrencies.
CRYPTO FEAR AND GREED INDEX DROPS TO 50, MARKET SENTIMENT FALLS TO OCTOBER 2023 LEVELS
According to Alternative data on January 10, the cryptocurrency Fear and Greed Index has dropped to 50, significantly down from 69 yesterday and 74 from last week, marking a sharp decline in market sentiment to levels seen in October 2023.
Analysis:
The Fear and Greed Index is a key indicator of market sentiment, and a shift from greed to fear could signal a market correction or increased volatility.
1.A sudden drop to 50 indicates that market sentiment has shifted from relatively greedy (positive) to neutral, even leaning toward fear (negative).
This shift often reflects a decline in confidence among market participants regarding price movements, possibly due to recent market volatility, macroeconomic data releases, or other uncertainties.
2.Changes in volatility and market trading volume are crucial components of the Fear and Greed Index. The sharp shift in sentiment may be influenced by significant price fluctuations in Bitcoin and other major cryptocurrencies, as well as notable changes in trading volume.
3.A decline in social media activity and market surveys might also suggest a weakening of investors’ optimistic sentiment, leading to a more cautious outlook on future price movements.
A drop in market sentiment often signals potential continued volatility in the short term.
PECKSHIELD: OVER 300 CRYPTO HACKS IN 2024
According to a report from PeckShield, there have been over 300 cryptocurrency hacking incidents in 2024, resulting in a total loss of $2.15 billion, a 30% increase compared to 2023. May was the peak month of the year, with 28 attacks causing losses of $574.6 million.
Analysis:
The proportion of attacks targeting individuals and organizations rose from 33% in 2023 to 46%, mainly due to weak private key management and insufficient security practices.
To avoid becoming a victim of cryptocurrency hacks, individual users should strengthen private key management, use hardware wallets to store private keys, and avoid saving them on online devices. Additionally, users should remain vigilant, avoid clicking on suspicious links or visiting questionable websites, and ensure they only use official exchange and wallet channels.
Diversifying the storage of crypto assets and avoiding keeping all assets in one platform or wallet is also recommended. Regularly updating wallet and exchange apps to patch security vulnerabilities is essential.
Most importantly, users should improve their security awareness, educate themselves on identifying common scams, and stay updated on security news to reduce the risk of being hacked.
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