Musk is expected to become the world's first trillionaire in 2027. This news is not only exciting, but also reflects the huge potential of technology and innovation! According to the latest report, Musk's wealth has increased by 110% annually, thanks to the strong performance of Tesla, the breakthrough progress of SpaceX and the potential future profitability of X. Today, Musk is firmly ranked as the world's richest man with $251 billion. His wealth growth rate is unprecedented. This also allows us to see the power of technology to drive wealth in the future. Innovations in fields such as electric vehicles, space exploration, and social media have brought unprecedented opportunities for wealth accumulation. It can be said that Musk is rewriting the pattern of global wealth distribution by subverting multiple industries. Not only Musk, but other global technology giants are also expected to join the trillionaire club. India's Gautam Adani may become the second trillionaire in 2028, with an annual growth rate of even 123%. Nvidia's Huang Renxun and Indonesia's Prajogo Pangestu are also among this rich list. This indicates that future wealth leaders will mainly come from the fields of technology, energy and mining.
The recent non-farm data is a bit vague, but the good news is that a rate cut in September is almost certain! There is a 70% probability of a 25 basis point cut, and the probability of a 50 basis point cut has dropped to 30%. Although the next policy is still unclear, at least the good news for September is on the way. Overall, the economy did not decline as sharply as many people feared, and the labor market performed steadily. This means that the Fed may have room to slowly relax monetary policy instead of aggressively cutting interest rates. Don't worry too much about a hard landing. The new data in October will be our next focus, but the current employment and inflation trends are moving in a benign direction. This Wednesday's CPI data is not expected to cause much waves, because as inflation gradually declines, expectations of rate cuts have become the focus of the market. Eric Diton of Wealth Alliance also said that the risk of recession is higher now than two months ago, and everyone's expectations for rate cuts have increased. Players need to seize the opportunity. Once the Fed relaxes monetary policy, the market is expected to usher in a wave of rebound.
Data shows that as of now, the total market value of cryptocurrencies is $1.99 trillion, with a 24-hour trading volume of $50.36 billion. Among them, Bitcoin accounts for 53.3% of the market value and Ethereum accounts for 13.6%. These data show that despite the volatility of the market, Bitcoin still occupies a dominant position, with a market value of more than half, showing its core position in the cryptocurrency market. From the historical data, Bitcoin's dominance is relatively stable, and with the entry of institutions, long-term demand is still supportive. In contrast, Ethereum accounts for a relatively small proportion, but its strong performance in application areas such as DeFi and NFT has enabled it to maintain a high market value ratio. The current market value of nearly $2 trillion shows that the market is generally in a stable state. Although the recent price fluctuations are obvious, there has been no large-scale capital withdrawal. In addition, the daily trading volume of $50.36 billion reflects the high market activity and traders are still interested in short-term market changes. The key to future trends will depend on the macroeconomic environment, the advancement of regulatory policies, and the technological development of mainstream cryptocurrencies.
BTC: Both the weekly and daily levels have closed with a spinning hammer, which usually means that the long and short sides are in a tug-of-war, and the market sentiment is hesitant in the short term. The MACD indicator shows that it is still in the short-term area, but its downward momentum has begun to slow down, indicating that the market may be close to the bottom. In summary: Although there is still some uncertainty in the market in the short term, the support below is strong, and we can pay attention to the rebound opportunity. Pressure reference: around 58400; around 64000;
ETH: Yesterday, a spinning hammer line was closed, indicating that the market is fiercely competitive between long and short sides, but it also shows that there is a strong carrying capacity near the current price. RSI is close to the oversold area, which indicates that there is limited room for further price decline, and a technical rebound may occur at any time. In summary: Although there is uncertainty in the market in the short term, the support below is relatively strong, and the second bottom may have been completed. The market may usher in an oversold rebound in the future. Pressure reference: around 2868; around 3102;
