The total market capitalization of the global crypto market is approximately $2.56 trillion, with slight fluctuations in the past 24 hours (some data sources indicate it previously dropped about 2% before stabilizing). Bitcoin's market cap accounts for about 59.9%. The Fear and Greed Index is at 29 (fear zone), indicating the market sentiment remains cautious.  Major coin prices (reference around 7 AM Beijing time) Bitcoin (BTC): about $73,750, basically flat to slightly fluctuating in the past 24 hours. Ethereum (ETH): about $2,051, basically flat in the past 24 hours. Solana (SOL): about $83.0, basically flat to slightly down in the past 24 hours. BNB: about $680, slightly down in the past 24 hours. XRP: about $1.05, slightly down in the past 24 hours. Dogecoin (DOGE): about $0.067, slightly down in the past 24 hours. Zcash (ZEC) has been more volatile recently, with prices in the $970–1,000 range, showing weakness in the past 24 hours; Hyperliquid (HYPE) is around $71–73. Overall, altcoins are following the broader market, with no clear independent strong performers.  Overnight highlights US October CPI data exceeded expectations (month-on-month increase of 0.4%, core about 0.3%), driving a significant rise in market pricing for a Fed rate hike at the December 8–9 meeting, with the probability of a rate hike once approaching 90%, and discussions of a 50 basis point hike emerging. Subsequently, the crypto market experienced a wave of leveraged liquidations, 2

U.S. stocks were open as usual on Wednesday for Veterans Day, and AI trading recovered a large part of the gap that was dropped last week. The S&P closed at 7619.38, up 1.3%; the Nasdaq rose 1.6% to 25466; the Dow only gained 0.5% to 52486. The Russell 2000 increased by 0.9%. The fear index plunged more than 10%, returning to around 17. The S&P is now only about 2.6% away from the historic high set on October 6. The real driver of the market was CoreWeave. This AI computing cloud company delivered better-than-expected Q3 results and raised its full-year guidance, causing its stock to surge nearly 25% that day. As it rose, memory, storage, and computing-related chip stocks all followed suit, with Micron up nearly 12%, and the tech sector overall gaining more than 3%. Nvidia also lifted its head from consecutive declines, closing up about 3%. The market is trading a very direct issue: whether AI capital expenditures are still accelerating. Last week, some began to doubt that data center demand would slow; on Tuesday, hot inflation data reignited rate hike expectations, and tech stocks were hit. On Wednesday, CoreWeave brought this narrative back with solid orders and revenue growth. The bond market was closed that day, so no new rate quotes interfered, and stocks focused solely on AI demand itself. The Dow rose slowly because it has a higher weighting of traditional consumer and financial stocks, which did not benefit from this chip rebound. Small-cap stocks also followed, indicating that it’s not just the giants buying. But despite the lively gains, Nvidia has not yet fully recovered from its drop since the October high, and there is still significant divergence within the AI sector.