市场波动背后是多重因素的共振。 HashKey Group高级研究员Tim Sun指出，特朗普面临中期选举压力背景下，财 政扩张、美元走弱、流动性再度泛滥几乎成为市场共识。 然而美联储新任主席人选的押注在极短时间内明显转向 鹰派人物凯文·沃什，这一变化直接动摇了市场此前对降息路径高度确定的信心。 与此同时，黄金前期涨势已超出 正常宏观定价节奏，机构与散户资金集中涌入导致仓位高度集中、杠杆化，在风向变化时引发连锁抛售。 汇丰私人银行及财富管理中国首席投资总监匡正认为，在黄金快速上行后，投资者获利了结的渴望增强，成为加 剧短期波动的重要因素。 高盛全球银行业与市场部固定收益、外汇及大宗商品全球联席主管安舒尔·塞加尔从市场 结构角度分析，贵金属市场规模相对较小，全球仅约5%的黄金由投资者持有，因此央行等主体的需求边际变化极 易引发价格剧烈波动。 金价波动还受到地缘政治因素的影响。 2025年10月21日，贵金属市场迎来历史性闪跌，当日纽约商品交易所12月 黄金期价收于每盎司4109.1美元，单日跌幅达5.74%。 市场分析人士普遍认为这是多重因素共振的结果，首要原 因是地缘政治局势出现缓和迹象。 据央视新闻报道，1 ...

Investor fear in the crypto market has intensified to a degree not seen since the collapse of the Terra Luna ecosystem in mid-2022, driven by a brutal, macro-led selloff.  Bitcoin’s price fell to a 15-month low of $60,255 on Thursday, marking a 52.2% decline from its October 2025 all-time high of $126,080, according to CoinGecko.  It comes as the Crypto Fear and Greed Index plummeted to 9 this week, squarely in "Extreme Fear" territory and at its lowest level in 42 months since Terra's downfall Terra Luna ...

进入2026年,"淘金热"持续不减，但是近期波动明显加剧，自上周五起黄金白银双双崩盘，国际金价接 近4400美元/盎司关口。 瑞银财富管理投资总监办公室（以下简称瑞银财富管理CIO），将今年前三个季度黄金目标价，从此前 的5000美元/盎司，上调至6200美元/盎司；并预计，在美国中期选举之后，金价将于2026年末回落至 5900美元/盎司。这次调整基于瑞银财富管理CIO认为需求强于此前预期，主要由投资需求驱动，而非央 行买盘。目前，瑞银财富管理CIO预测金价的上行情景目标价为7200美元/盎司，下行情景目标价为4600 美元/盎司。 尽管短期内黄金市场可能因获利了结、宏观预期切换等因素延续高波动，但主流机构对其中长期走势仍 持乐观态度。机构投资者普遍认为，央行购金、地缘政治风险、宏观经济不确定性以及投资需求的结构 性增长，共同构成了黄金的长期支撑逻辑。他们建议投资者在参与市场时，需密切关注上述核心驱动因 素的变化，并做好相应的风险管理和仓位调整。 金价近期大幅波动原因何在？ 黄金、白银价格暴跌，是多重因素叠加作用的结果。 首先，是宏观叙事切换与过度拥挤交易结构的共同作用。HashKey Group高级研究员 ...

Group 1 - Gold reached a new all-time high while Bitcoin fell to its lowest level since November, highlighting a significant divergence between the two assets [1] - Bitcoin was trading at $83,926 after a 7% drop in 24 hours, and it has decreased by 20% over the past year [1] - Bitcoin has been described as digital gold due to its finite supply and has risen over 150% relative to the US dollar in the past five years [3] Group 2 - Bitcoin is generally more volatile than gold, with multiple double-digit drawdowns, and has rarely acted as a safe haven asset [2] - The correlation between Bitcoin and gold is infrequent, with Bitcoin often behaving like other volatile assets, particularly tech stocks [4] - The divergence in performance between gold and Bitcoin is attributed to different investor focuses, with gold traders concerned about long-term macro imbalances and Bitcoin buyers being more liquidity-sensitive [5][6] Group 3 - Bitcoin experienced a significant crash in October, following a peak of $126,080, leading to a $19 billion wave of liquidations that severely impacted its price [7] - Since the crash, Bitcoin has struggled to regain its value, trading mostly below the $100,000 mark [7]

Core Insights - The stability of a major global currency, specifically the Japanese yen, is under threat, which is impacting Bitcoin in the short term [1] - A potential coordinated currency intervention by the Federal Reserve has led to a significant appreciation of the yen, which surged 3.39% against the dollar [2] - The strengthening yen could disrupt the carry trade strategy that has benefited risk assets like Bitcoin, as investors may need to liquidate these assets to cover their positions [5][6] Currency Intervention and Market Impact - The New York Fed's procedural rate check has raised concerns about a coordinated intervention to strengthen the yen, which could involve selling U.S. dollars to buy yen [2][6] - A stronger yen threatens to reverse the carry trade, where investors borrow yen at low interest rates to invest in higher-yielding assets, including Bitcoin [5] - The recent turmoil in Japan, including a spike in government bond yields to 4%, has contributed to the yen's volatility and the subsequent impact on risk assets [3] Bitcoin's Performance and Market Dynamics - Bitcoin has shown minimal growth of only 0.14% year-to-date, contrasting with rising prices in gold and silver, indicating a lack of investor confidence amid changing macroeconomic conditions [4] - The current market dynamics suggest that Bitcoin's price is increasingly influenced by traditional financial flows, with leveraged positions facing heightened costs due to rising volatility premiums [6][7] - The expectation of intervention has led to increased selling pressure on Bitcoin as investors liquidate positions to cover yen loans [6][7]

HashSTACS.HK 荣获毕马威中国"2025金融科技50强" ，数字化基础设施能力获权威认可 【2026年1月12日，香港】 全球领先的数字资产基础设施服务商 HashSTACS.HK 宣布，凭借在金融科 技领域的持续创新与合规实践，公司成功入选"毕马威中国(KPMG)2025金融科技50强"榜单。 HashSTACS.HK 也是本届榜单中 RWA(现实世界资产)流动性基础设施赛道的代表性入选企业。 毕马威"金融科技50强"评选体系涵盖技术度、创新度、市场认可度等多个核心维度，旨在遴选推动金融 行业数字化转型的领军企业。此次与蚂蚁集团、微众银行、HashKey Group、OSL集团等行业头部机构 共同登榜，标志着 HashSTACS.HK 的技术架构与商业模式在金融安全、合规标准及服务能力方面已达 到行业领先水平。 核心技术优势：驱动金融科技深层变革 截至目前，RWALinks 在业务表现上取得了显著进展： 规模效应： 平台上线仅数月，累计交易额已正式突破 20 亿美元。 活跃程度： 日均交易规模保持稳健增长，展示了市场对机构级 RWA 资产的强劲需求。 生态连接： 通过标准化接口，RWALinks ...

RT Timmy Shen (@timmyhmshen).@HashKeyGroup 's Hong Kong debut gets a mixed reception.Its shares slipped 3% by midday after the crypto exchange raised $206M in its IPO, pricing at HK$6.68 — near the top of the range.Read full story @TheBlock__ https://t.co/KWYYEaUNu8 ...

Core Viewpoint - Bitcoin continues to trend lower despite a 25 basis point interest rate cut by the U.S. Federal Reserve, indicating a complex macroeconomic environment ahead [1][4]. Group 1: Market Reaction to Fed Actions - The Federal Reserve's recent actions, including a planned purchase of $40 billion in T-Bills, mark its first balance sheet expansion since mid-2022, reflecting a shift in monetary policy [2]. - Despite the rate cut, Bitcoin has declined by 2% in the past 24 hours, trading just under $90,200, with market sentiment indicating a bearish outlook [3]. - Prediction markets show a mere 17% chance of a "Santa rally" for Bitcoin in 2025, with a 5% decrease in the likelihood of Bitcoin reaching $100,000 compared to dropping to $69,000 [3]. Group 2: Economic Concerns and Future Outlook - Analysts express concern that the potential for further easing by the Fed is diminishing, as indicated by downward revisions in rate-cut expectations for 2026 [5]. - The upcoming midterm elections in 2026 may necessitate looser fiscal policies and a more dovish Fed to sustain economic growth, which could lead to a temporary mix of fiscal stimulus and monetary easing [6]. - However, this combination poses risks of rekindling inflation and increasing long-term interest rates, which could negatively impact global risk assets, including Bitcoin [7].

Core Insights - MoneyHero Limited has announced a collaboration with HashKey Group to expand its digital asset wealth product offerings in Greater Southeast Asia, particularly in Hong Kong [1][2][3] Group 1: Company Overview - MoneyHero Limited is a tech- and AI-powered personal finance aggregation and comparison platform operating in Singapore, Hong Kong, Taiwan, and the Philippines, with a portfolio that includes various B2C and B2B platforms [5] - As of June 30, 2025, MoneyHero had over 270 commercial partner relationships and approximately 5.3 million Monthly Unique Users across its platform [5] Group 2: Collaboration Details - The partnership with HashKey will enhance MoneyHero's existing digital asset offerings and expand its network of Securities and Futures Commission of Hong Kong (SFC)-licensed institutions, providing consumers with more informed financial choices [2][4] - This collaboration aims to create regulated pathways for broader participation in the digital asset economy, aligning with MoneyHero's strategy to develop a comprehensive personal finance ecosystem [4] Group 3: Industry Context - The collaboration is set against the backdrop of Hong Kong's emergence as a progressive digital asset market, supported by government policies and a stablecoin regulatory regime [3] - The partnership is expected to contribute to Hong Kong's growth as a hub for financial innovation, capitalizing on the increasing interest in digital assets [3]

作为加密货币的领头羊，比特币在12月就已经下跌了7%，并且自10月6日创下历史高位以来，已经回调 了约31%。这反映出在过去一个月里，投资者对加密货币的担忧一直在这一市场占据主导地位。 行业人士称，加密货币市场目前处于脆弱状态，负面消息对市场造成压力，而积极的进展也无法改善市 场的低迷情绪或价格走势。 比特币在12月的第一天就经历了暴跌行情，这使得市场避险情绪浓厚。随着年末将近，分析师们也开始 对这一资产采取了更为谨慎的态度。 从12月1日起，美联储结束了量化紧缩，停止了自2022年以来的缩减资产负债表进程，虽说这消除了一 个重大的结构性阻力因素，但Caladan交易公司的Lim指出，其积极影响需要一段时间才能在市场流动中 显现出来。 他将目前现状与2019年的情况进行了对比，当年，风险资产在美联储结束其最后一次量化紧缩周期大约 6至12个月后才开始出现大幅上涨。 加密货币交易公司Caladan的研究主管Derek Lim指出，"比特币很可能会维持在一定区间内波动，波动 幅度会有所加大，价格将在83000美元至95000美元之间盘整。" 比特币今年剩余行情会如何？ 12月1日比特币的暴跌似乎是由缺乏宏观数据、 ...