News

According to Odaily, Nobel laureate and former New York Times columnist Paul Krugman published an analysis stating that the U.S. non-farm employment report for November, released on December 16, indicates that while it may be too early to declare a recession, at the very least, the data suggests the economy is already in a pre-recession phase. He noted that the overall unemployment rate for November was 4.6%, higher than the 2024 average of 4%, and this figure is already close to triggering the "Sahm Rule". Although the Department of Labor was unable to collect key data for October due to a government shutdown, by interpolating between the September unemployment rate of 4.4% and the November rate of 4.6%, it can be estimated that the October unemployment rate was about 4.5%. These three months of unemployment data are very close to the increase predicted by the Sahm Rule, which signals an impending recession. Odaily note: The Sahm Rule, proposed by former Federal Reserve economist Claudia Sahm, is a real-time recession indicator based on the unemployment rate. When the three-month moving average of the U.S. unemployment rate rises by 0.5 percentage points or more above the lowest three-month average of the previous 12 months, the indicator is triggered and is usually seen as an early signal that the economy has entered a recession.

Foresight News reports that Bitget has launched the 51st edition of its Crazy Thursday event, open to users on the Chinese-language official website and certain channels. During the event, users can unlock USDT airdrops by completing contract trading volume and trading ranking tasks, with a maximum individual reward of 6,900 USDT.Detailed rules have been published on the official Bitget platform. Users must click the "Join Now" button to complete registration in order to participate. The event ends at 18:00 on December 24 (UTC+8).

BlockBeats News, December 18, according to Hyperinsight monitoring, the "BTC OG Insider Whale" once again increased their ETH long position. As of the time of writing, their Ethereum long position with 5x leverage has risen to 196,300 coins. The position value has risen to $561 million, with a liquidation price of $2,108. In addition, their overall long position value is approximately $679 million, with an unrealized loss of $69.14 million.