Overnight, the Nasdaq fell 3.65%, the S&P 500 fell 2.31%, and the Dow Jones Industrial Average fell 1.25%; the six sisters of the Bone Group also fell together. The index trend of Bone Group has always been one-sided. I hope this is just a one-week pullback. A continued pullback may bring about a coordinated decline in the assets of the pie circle.
As of now, Mt.Gox has transferred 61,558.9 BTC (approximately US$3.894 billion) to the trading platform for executing compensation distribution.
The 51,342.8 Oranges (US$3.218 billion) that entered Bitbank, SBI VC Trade, and Kraken have been distributed to creditors. Currently, Mt.Gox still has 80,126 Oranges (US$5.288 billion) that have not yet been transferred to the trading platform for compensation distribution.
In other words, Mentougou’s creditors have entered the actual profit-taking stage, which will undoubtedly bring certain selling pressure to the market.
ETF:
Yesterday, the US spot sugar orange ETF had a net inflow of about US$44.2 million
Yesterday, the U.S. Yitai spot ETF had a net outflow of $133 million
The total trading volume of the U.S. Spot Auntie ETF on the second day of listing reached US$951 million, and US$1.054 billion on the first day of listing.
Grayscale Eunice Trust (ETHE) once again led the pack with about $492 million in trading volume, or about 52% of total volume, followed by BlackRock’s Eunice ETF (ETHA) ($256 million) and Fidelity’s Eunice Fund (FETH) ($113 million).
The Sugar Orange Conference will start today and last for three days. Chuan Jianguo will attend and speak. Logically, the PolitiFi sector with a large decline will have a time mismatch pull, especially when Comrade Chuan Jianguo has a positive speech that exceeds expectations.
The latest report from the Global Times: A poll jointly released by Reuters and Ipsos on the 23rd showed that Harris's support rate was slightly ahead of Republican presidential candidate and former President Trump. Harris led Trump by 2 percentage points with a slight advantage of 44% to 42%, and the margin of error of this survey was within 3%.
This poll data is bearish for PolitiFi and the entire pie circle asset class, as Harris has not clearly expressed her position on pie circle assets, and there is currently no news on whether Kamala Harris will speak at the Sugar Orange Convention.
Macro aspects:
Vanguard Group "pours cold water": The Federal Reserve may only cut interest rates once this year!
The Fed will only cut interest rates by 25 basis points in September, which is far less than the market's more aggressive rate cut forecasts. According to CME's FedWatch tool, investors expect the Fed to cut interest rates three times this year.
If so, then 24 years of rate cuts are merely a derivative of Democratic votes.
Wall Street firmly believes that the Fed will ignore Trump's warning!
In particular, Goldman Sachs doubled down on its view that the Fed will cut interest rates in September in a note released last week, especially in light of the comments from Waller and Williams.
This is an expected rate cut, and the positive effects will be realized the moment it is implemented, which also corresponds to a defensive rate cut.
I've changed my mind: The Fed is cutting rates now.
Bill Dudley, former president of the New York Fed, who once enjoyed a permanent vote on the Fed's FOMC, wrote that he had changed his mind and that the Fed needed to cut interest rates immediately. Unnecessary waiting until September would increase the risk of recession.
Such an unexpected interest rate cut means that the US economy has already experienced a substantial recession, and the interest rate cut is intended to avoid the expansion of risks.
The market maintains yesterday's view. It should be added that the market still needs one last wave of madness and cleansing before the gate of abundant liquidity is opened. The most important thing before the gate of abundant liquidity is opened is: stay alive.
