Bitcoin Surges, 210,000 People Liquidated! Alipay Crashes, CIIE Achieves $80 Billion in Deals!

Bitcoin Surges, 210,000 People Liquidated! Alipay Crashes, CIIE Achieves $80 Billion in Deals!Bitcoin price breaks through $81,000 per coin, setting a new record high, but this surge has also triggered liquidations for 210,000 people, with total losses reaching $690 million. Meanwhile, on November 11th, "Alipay Crashed" became a trending topic on Weibo

Bitcoin Surges, 210,000 People Liquidated! Alipay Crashes, CIIE Achieves $80 Billion in Deals!

Bitcoin price breaks through $81,000 per coin, setting a new record high, but this surge has also triggered liquidations for 210,000 people, with total losses reaching $690 million. Meanwhile, on November 11th, "Alipay Crashed" became a trending topic on Weibo. Alipay officially responded, stating that the system glitch had been fixed and users' funds were secure. In addition, the 7th China International Import Expo (CIIE) achieved over $80 billion in intended deals, once again demonstrating multinational companies' continued optimism towards the Chinese market. Aside from these popular news stories, here are some other noteworthy economic developments this week: a "10 trillion+ yuan" package, what assets will benefit? The Trump era is here, will gold soar? Is the Fat Donglai model effective? And otome games, a money transaction hidden in love.

Bitcoin price breaks through $81,000 per coin, setting a new record high, but this surge has also triggered liquidations for 210,000 people, with total losses reaching $690 million. As of 9:59 AM on November 11th, Bitcoin rose 5.14%, breaking through $81,000/coin (equivalent to over 580,000 yuan/coin), hitting a new record high. The recent continuous surge in cryptocurrency has led to significant losses for some investors participating in short positions. Coinglass data shows that over 210,000 people liquidated their positions within the last 24 hours, with a total loss of $690 million.

"Alipay Crashed" becomes a trending topic on Weibo, Alipay officially responded, stating that the system glitch had been fixed and users' funds were secure. On November 11th, "Alipay Crashed" became a trending topic on Weibo. Multiple users reported that Alipay experienced service abnormalities this morning. When trying to make payments, they encountered messages such as "Payment failed," "Transaction creation failed," and "Service abnormality." Additionally, some users stated that Alipay experienced issues with Yu'e Bao withdrawals not arriving, and their credit repayments were deducted successfully but the bill wasn't cleared. At 11:25 AM, Alipay issued an apology on Weibo, stating that a localized fault occurred in the system message library, causing payment function disruptions for some users. This fault did not affect users' fund security, and the issue was resolved as of 10:50 AM.

The 7th China International Import Expo (CIIE) achieved over $80 billion in intended deals, once again demonstrating multinational companies' continued optimism towards the Chinese market. Data indicates that CIIE achieved $800.1 billion in intended deals on an annualized basis, marking a 2.0% increase compared to the previous session, reflecting the active transaction volume at the Expo. Since 2018, CIIE has been held for seven consecutive years. For the past seven years, on November 5th of each year, thousands of multinational companies gather at the "Four Leaf Clover" to participate in the grand event. Many executives from multinational companies and organizations stated that CIIE provides them with an opportunity to enter the Chinese market and secure more business cooperation opportunities.

A "10 trillion+ yuan" package, what assets will benefit? On November 8th, the highly anticipated fiscal stimulus package was released. The overall package is "sincere and substantial," offering "10 trillion+ yuan" in confirmed funding, potential for larger unconfirmed scale, and projections for more "robust" fiscal support in 2025, covering debt reduction, reserve management, consumption, etc. The package is designed to address the present while considering the long-term, with a "fundamental shift in debt-reduction approach." In terms of impact, this round of debt reduction should effectively alleviate the short-term repayment pressure faced by local governments, aiming to free up space for them to focus on "stabilizing growth, adjusting structure, promoting investment, stabilizing consumption, and enhancing technology." Regarding assets, it's inclined to believe that a "dual bull market" in stocks and bonds is imminent. For short-term outlook, it's crucial to closely monitor these three factors.

The Trump era is here, will gold soar? Last Wednesday, after the world learned that Trump would become the next president, gold prices plummeted. Peter Morici, an economist and professor at the University of Maryland's Robert H. Smith School of Business, said gold's outlook will depend on several factors, including how aggressive Trump is with tax cuts and spending increases, and how much Congress allows him to be. According to an analysis by the Committee for a Responsible Federal Budget, Trump's tax and spending plans could increase the U.S. debt by $7.75 trillion. Morici believes that this would lead to "runaway inflation, and people will rush to gold as fast as they can." But he also pointed out that many things Trump said during the last election and when he was elected president "either materialized slowly or didn't materialize at all. We will see some inflation, but it won't be catastrophic." If that's the case, gold will continue to have value, but it won't soar.

Is the Fat Donglai model effective? This year, Fat Donglai has become a new story for traditional retail supermarkets. Whenever news is released about learning from and adapting to the Fat Donglai model, the capital market ignites. Earlier, Zhongbai Group's stock price surged to its daily limit after a visit to Fat Donglai, and later, Yonghui Supermarket's stock price soared 35% within two months. On the consumer side, after Fat Donglai's makeover, the newly reopened stores of Zhongbai, Yonghui, and ST Bubugao Supermarket all saw significant increases in sales and foot traffic on their opening days. Several months have passed, with both the capital market and consumers expressing optimism. Fat Donglai's disciples have also released their third-quarter financial reports. However, the performance indicates that even with the addition of the new story of Fat Donglai, it still cannot lift the performance of these supermarkets. This raises two questions: is the Fat Donglai model really effective? Is the effect of Fat Donglai's makeover being exaggerated?

Otome games, a money transaction hidden in love Otome games, also known as otome, are dating simulation games primarily targeted towards female audiences. In simple terms, players take on the role of the protagonist in the game and develop romantic relationships with the male characters available for romancing. Initially introduced to the domestic market by Japan, the term "otome" originates from Japanese and originally referred to unmarried young girls, representing the female protagonist played by the player in otome games. For a long time, high-quality female-oriented games were absent in China. It wasn't until the launch of "Love and Producer" in 2017 that this gap was filled, igniting the market and effectively opening the doors to China's otome game market. The popularity of "Love and Producer" can be seen from its download installation numbers. Data shows that the game surpassed seven million installations within a month of its launch. Later, foreign media reported that the game's DAU (daily active users) exceeded 2 million, and its monthly revenue was between 200 and 300 million yuan. Why are otome games so popular