Today, the crypto market showed some signs of recovery. The price of Bitcoin once rose to $58,000 and is currently fluctuating around $57,000. Ethereum also broke through $2,400.
Most of the altcoins are also rebounding following the broader market.
The news worth noting is:
1. Trump's performance in the debate was poor, and Harris' chances of winning the election surpassed Trump
The debate between US Democratic presidential candidate Harris and Republican candidate Trump has begun.
Harris highlighted her economic plan during the debate, saying she is the only candidate focused on "lifting up middle-class Americans and working people."
Harris responded to one of her main weaknesses in the election, the issue of high prices and cost of living, which have put tremendous pressure on American families and made voters question President Biden's economic policies.
She proposed specific measures, such as expanding the child tax credit, providing mortgage assistance for first-time homebuyers and providing tax breaks for small businesses, while criticizing Trump's tariff policy.
Trump has countered that his tariffs have not caused inflation, noting that the U.S. economy is in bad shape and inflation has reached unprecedented levels.
The debate, which could be the only face-to-face confrontation between Harris and Trump in this election cycle, did not immediately react to the debate, with S&P 500 futures and exchange rates barely moving.
Judging from her performance in the debate, Harris seems to have the upper hand, at least in the eyes of the audience and the market, her performance was more convincing than Trump.
According to the latest Polymarket data, Trump's chances of winning have dropped to 49%, while Harris' chances of winning have risen to 49.1%.
This shows that most people think Harris performed better in the debate and the future election situation may be more favorable to her.
2. Market sentiment is gradually recovering
Judging from the current data, investors in the cryptocurrency circle are gradually getting rid of the concerns that last Friday might trigger an economic recession.
Although the macroeconomic environment has not improved significantly, investor confidence is recovering. More and more people are withdrawing Bitcoin from exchanges, indicating that their confidence in the market is growing.
Judging from the data of Bitcoin spot ETF, there was a net inflow of US$28.75 million yesterday, ending 8 consecutive days of net outflow.
At the same time, the amount of Bitcoin withdrawals on exchanges has increased significantly compared with the same period last week.
This suggests that, at least for now, investors are either fully anticipating concerns about a U.S. recession and don't think it's going to happen anytime soon, or they think now is a good time to buy.
The Fear and Greed Index also rebounded to 37, further showing that market sentiment has recovered.
Next, you can pay attention to the CPI data released tonight. CPI data is an important indicator for measuring inflation.
If the headline CPI is lower than the previous reading, while the core CPI remains unchanged, this is good news for the market.
Especially the broad CPI, which is most likely to affect investors' sentiment.
If investors believe that lower inflation could lead to lower interest rates, they will worry less about a recession.
This means that investors will be more willing to take risks and their risk appetite will increase. An increase in risk appetite means that they may be more willing to invest in high-risk assets.
3. MARA CEO said: Once US banks are able to custody and pledge Bitcoin, the price of Bitcoin will skyrocket"
Simply put, if banks can provide Bitcoin custody services, they can allow users to use Bitcoin to obtain mortgage loans.
This will lead to fewer bitcoins available for circulation in the market, because more people will choose to deposit bitcoins in banks as collateral. At the same time, demand will increase, which will lead to an increase in the price of bitcoin.
4. OpenAI plans to release the Strawberry model in the next two weeks
The "Strawberry" model is a new type of artificial intelligence being developed by OpenAI, focusing on reasoning capabilities.
Reasoning ability has always been a difficult problem in the field of AI, especially when dealing with complex scientific and mathematical problems.
Compared with existing AI models, the Strawberry model can better understand complex queries and autonomously plan and execute tasks, which will greatly improve the practicality of AI.
This means that Strawberry can not only generate answers, but also plan how to solve problems in advance, and can even browse the Internet independently for "in-depth research."
OpenAI accelerated the release of the Strawberry model, possibly because it felt competitive pressure from other AI companies.
OpenAI hopes to regain the market popularity of ChatGPT since its release through the "Strawberry" project.
Overall, the crypto market has rebounded, and the rebound in Bitcoin prices has boosted investor confidence.
The first debate between Trump and Harris had little impact on market sentiment.
Judging from the current prediction results, Harris's chances of winning have increased. We can pay attention to Trump's response strategy in the future.
Next, we can focus on the CPI data released tonight.
