1. Federal Reserve Chairman Powell said that the time for policy adjustment has come, triggering market expectations of a rate cut.
2. BTC broke through the $65,000 mark, with a 24-hour increase of 6.97%.
3. The Federal Reserve is expected to cut interest rates at each of the next three meetings, ultimately reducing the federal funds rate by about 200 basis points.
In a recent report, Goldman Sachs economist David Mericle said, "We expect Powell to express more confidence in the inflation outlook and to emphasize the downside risks to the labor market more than he did at the news conference after the July FOMC meeting." Goldman Sachs' expectations for the Fed's interest rate outlook are generally in line with the market: it is expected that the Fed will cut interest rates at each of the next three meetings, and then increase the degree of easing, ultimately reducing the federal funds rate by about 200 basis points. The bank believes that Powell will be very vague about this policy path at the Jackson Hole meeting. -Original
4. Russia plans to launch two cryptocurrency exchanges and introduce a new stablecoin pegged to the RMB.
Russia plans to launch two cryptocurrency exchanges for external use, one in Moscow and the other in St. Petersburg, with the goal of supporting external economic activities. In addition, Russia also plans to issue a stablecoin pegged to the RMB and the currency basket of the BRICS countries. -Original
5. Traders increased their bets on a Fed rate cut after Fed Chairman Powell's speech.
Traders increased their bets on a Fed rate cut after Fed Chairman Powell's speech. -Original
6. The argument supporting a Fed rate cut is strengthened as the U.S. labor market may be approaching a critical point.
A recent study released at the Jackson Hole Symposium shows that the U.S. economy may now be approaching a critical point, where a continued decline in job vacancies will lead to a faster rise in the unemployment rate, which will support the argument for the Fed to start cutting rates to protect the labor market. Pierpaolo Benigno, an economist at Bocconi University, and Gauti B. Eggertsson, an economist at Brown University, pointed out in their research paper that Fed policymakers face two risks: cutting rates too slowly, leading to a "hard landing" with high unemployment; cutting rates too early, making the economy vulnerable to rising inflation. According to their new analysis of the labor market, "our current assessment suggests that the former risk outweighs the latter." -Original
7. U.S. stocks closed with the Nasdaq up 1.47%, the Dow up 1.14%, and the S&P 500 up 1.15%.
U.S. stocks closed with the Dow up 1.14%, the Nasdaq up 1.47%, and the S&P 500 up 1.15%. -Original
8. BTC saw $100 million in liquidations in the past 24 hours, with short positions being the main liquidations, and short positions liquidated $69.83 million.
The current price of BTC is $62,775.31, with a 24-hour increase of 3.68%. Among them, the total amount of liquidations in the entire network in the past 24 hours was $100 million, with short positions being the main liquidations, and BTC liquidations amounting to $28.21 million (27.98%). The data is for reference only. -Original
9. ETH broke through the $2,800 mark, with a 24-hour increase of 6.42%.
10. CME's cryptocurrency holdings report shows a 6.29% increase in BTC holdings and a 7.32% increase in ETH holdings compared to the previous week.
11. The DXY short-term index fell by 20 points, now at 101.3043.
12. The total market value of cryptocurrencies is $2.28 trillion, with a 24-hour increase of 4.70%.
The current total market value of cryptocurrencies is $2.28 trillion, with a 24-hour increase of $102.366 billion, representing a 4.70% increase. Among them, Bitcoin's market value accounts for 54.94%, and Ethereum's market value accounts for 14.69%. -Original
13. The Nasdaq opened up 154 points, with U.S. stocks opening higher, and MicroStrategy up 1.7%.
U.S. stocks opened higher, with the Dow up 0.41%, the S&P 500 up 0.57%, the Nasdaq up 0.8%, Coinbase up 1.03%, and MicroStrategy up 1.7%. -Original
14. Cumberland and Ceffu transferred 300 and 246.33 BTC respectively from Binance.
Cumberland and Ceffu transferred 300 and 246.33 BTC respectively from Binance, valued at $18.36 million and $14.99 million, respectively. -Original
The above are selected hotspots from the past 24 hours. For faster news, please download AICoin (aicoin.com).
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