The biggest macro event of the week happens Saturday.
Here is what you need to know about the Chinese ''fiscal'' press conference:
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BTC plunges, altcoins collapse. The election is favorable in the future, and investors are surprised by the plunge, why? What important information was ignored?

The following content is from <Followin>, the latest analysis from industry practitioners.

Phyrex@Phyrex_Ni:
I don't know why it's falling, but there are indeed a number of unfavorable factors today, but these factors are not the key ones.
For example, the tech stocks' earnings reports are indeed not very good, even dragging down Nasdaq and S&P 500, and Coinbase's earnings report is very poor, plunging more than 15%, but MSTR only fell 1.15%...

With the election approaching, BTC plummeted by nearly 4000U, and altcoins collapsed. Why?

On the eve of the 16th anniversary of the Bitcoin whitepaper, CZ, who has been out of the spotlight for a while, stated that 2024 will be a "year of recovery".

BTC briefly fell below $69,000. Where is the promised new high?

Approximately 5 days remain until the results of the US election are announced. Although on the Polymarket prediction market, Trump has an overwhelming advantage (with a 63% vs. 37.1% probability of winning over Harris), according to poll results, the support rates between Trump and Harris differ by only 1%.

The cryptocurrency market is already flooded with a large number of Trump and Harris concept coins, some of which have been created for over a year, while others have just been created, with market capitalizations ranging from hundreds of millions of dollars to tens of thousands of dollars. The outcome of the US election will determine the fate of these tokens, whether they will go to zero or take off. In the next few days, these tokens will...

The US election has entered the sprint stage. Let’s learn about the mainstream concept coins of Trump in one article

Chinese policymakers are applying a Western-like playbook here.
Lift the stock market at all costs.
And hope that's enough to loosen financial conditions and rescue the Chinese economy.
But there is a problem with that.
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Contrary to Western societies, Chinese households have most of their wealth stored in the housing market - not in the stock market.
The Chinese economy needs some true stimulus.
And Saturday we will hear whether policymakers are serious about that or not.
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Fiscal is the only solution left.
Credit creation has been exhausted: corporates were fully tapped (phase 1) in 2016 already, and households are also fully tapped now (phase 2).
New money creation can only come from the government via fiscal deficits.
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But how much is needed?
Banks point towards a 3-5 trillion Yuan package (~500bn USD).
That would be decent, but a true Chinese fiscal bazooka will look more like 7-8 trillion Yuan (~1 trillion USD).
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In 2008-2010 China went for a real money-printing bazooka, and the 2-year cumulative change in money creation was around +50% in real terms.
That was the equivalent of 20 (!) trillion Yuan printed in 2 years.
7-8 trillion Yuan would be a solid start.
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China urgently needs some large, targeted fiscal stimulus.
Anything less than 3-4 trillion Yuan will be taken negatively from markets over the medium run.
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