On Friday, the U.S. released inflation data showing that the annual rate of PPI in September was 1.8%, higher than the market expectation of 1.6%, and the previous value was revised up from 1.7% to 1.9%; the monthly rate of PPI in September was 0%, 0.1% lower than the expected value, and 0.20% lower than the previous value; the monthly rate of core PPI in September was 0.2%, in line with the expected value of 0.2%, and 0.30% lower than the previous value. The PPI in September showed that the inflation outlook was still favorable, supporting the view that the Federal Reserve would cut interest rates again next month. The S&P 500 index rose 0.4%, hitting a record high of 5,800 points during the session; the price of gold rose to $2,660 per ounce, up 1%.

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U.S. Senator Bill Hagerty released a draft of legislation aimed at creating a regulatory framework for stablecoins, similar to work underway in the House of Representatives. Hagerty said its draft legislation provided much-needed regulatory clarity. The draft adopts the structure of the House bill while dividing federal supervision between the Federal Reserve's supervision of banks and the Office of the Comptroller of the Currency's supervision of non-bank institutions. The draft would include a provision that issuers exceeding the $10 billion threshold may receive an exemption from federal regulators and then remain subject to their state's jurisdiction. The draft legislation also includes maintaining dollar-denominated foreign exchange reserves on a one-for-one basis. The U.S. Securities and Exchange Commission (SEC) sued CumberlandDRW, accusing it of being an unregistered securities dealer. Bitnomial sued the U.S. Securities and Exchange Commission (SEC), challenging its regulatory authority over XRP futures contracts. The Board of Directors of the International Organization of Securities Commissions (IOSCO) noted that retail investor ownership of cryptocurrencies has increased significantly since 2020 and called for greater investor education in the space. Thelnformation reports that Fidelity plans to launch the first money market fund to be traded on the blockchain. Fidelity submitted relevant documents to U.S. securities regulators on September 26. By launching the fund, Fidelity will compete with BlackRock, the world's largest asset manager, which has a similar fund that has attracted more than $500 million in investor money.

Metaplanet increased its holdings by 108.99 BTC and currently holds 748.502 BTC. MtGox will extend the repayment deadline to creditors by one year to October 31, 2025. Greekslive said: The current option holdings have fallen to a new low since 2023. This week, block trades accounted for a large proportion, and 40% of the cumulative trading volume came from block trades, especially block call option trades. There may be a market before and after the US election. Bloomberg reported that the (Global Crypto Hedge Fund Report) released by PricewaterhouseCoopers (PwC) and the Alternative Investment Management Association (AIMA) showed that among hedge funds in traditional markets, 47% have been involved in digital assets, up from 29% in 2023 and 37% in 2022. Among the funds that have already invested in crypto, 67% plan to maintain the same level of crypto capital, while the remaining funds plan to increase investment by the end of 2024. The results of this year's report show that confidence has been steadily recovering over the past year, and the regulatory clarity that has begun to emerge globally is boosting confidence in this asset class. Research firm Santiment said that BTC hit $58,900, a three-week low, and market data showed that traders viewed the decline as a buy-on-dip opportunity, with the narrative turning bullish. In addition, the U.S. CPI data was also in line with expectations, and the market still believed that interest rates would be cut by 25 basis points in November. CryptoQuant CEO Ki Young Ju said that 285 days have passed in 2024, and if BTC fails to start a bull market within 14 days, it will set a record for the longest consolidation time in the halving year.

On Friday, the U.S. released inflation data showing that the annual rate of PPI in September was 1.8%, higher than the market expectation of 1.6%, and the previous value was revised up from 1.7% to 1.9%; the monthly rate of PPI in September was 0%, lower than the expected value of 0.1%, and lower than the previous value of 0.20%; the monthly rate of core PPI in September was 0.2%, in line with the expected value of 0.2%, and lower than the previous value of 0.30%. Institutional analysis pointed out that the flat PPI in September indicated that the inflation outlook remained favorable, supporting the view that the Federal Reserve will cut interest rates again next month. The S&P 500 rose 0.4%, hitting 5,800 points during the session, a record high; the Dow Jones rose 0.6%, hitting 42,700 points during the session, a record high; the BT futures price of the Chicago Mercantile Exchange hit $63,000, up 5.4%; the price of gold rose to $2,660 per ounce, up 1%. Citi economist Andrew Hollenhorst said: The Fed's preferred inflation indicator PCE combines price data from CPI and PPI, and the comprehensive forecast is that PCE will fall from 2.7% in August to 2.6% in September, which should allow the Fed to continue to cut interest rates. HSBC strategist Max Kettner said that the Fed's last two meetings this year may have a 25 basis point rate cut each, which is "almost a done deal." During the earnings season, large US banks including JPMorgan Chase and Wells Fargo announced third-quarter earnings that exceeded expectations, calming market sentiment. Equity strategists raised their targets for the S&P 500 index in the next few quarters. Deutsche Bank analysts said that the market generally expects the European Central Bank to cut interest rates next Thursday, which will be the first consecutive rate cuts in this cycle, and therefore "will mark the beginning of a faster easing cycle." MicroStrategy, a traditional institution that is deeply "bound" to the currency market, hit $209 on Friday, up more than 14%, a record high.

Research and brokerage firm Bernstein reiterated that if Trump wins the election next month, the price of BTC could reach $80,000 to $90,000. Bernstein analysts believe that BTC will perform well against the backdrop of low interest rates, persistent U.S. fiscal deficits, and unprecedentedly high debt levels. BlackRock ETF addresses have accumulated about $742 million in BTC in the past 16 days. Many uncertainties this week have led to considerable volatility, and the old man fell numb. The cyclical outlook of the bull market has not changed, interest rate cuts will continue, FTX will still pay creditors in cash, and the election will also come out. In this context, although the physical feeling is uncomfortable, it is inconsistent with the bear market outlook, so there is no pessimism. The premise of cyclicality, in the face of physical feeling and fundamentals, the old man chooses fundamentals. Among many prospective stimuli, the big cake is unlikely to choose the bear market, and the bull market is still the basic argument of the market. #加密市场反弹 #多军的反击 #9月美国CPI实现6连降