Consensys announced on social media X that the US SEC enforcement department will end its investigation into Ethereum 2.0 and will not accuse the sale of Ethereum of being a securities transaction. This news undoubtedly has a positive impact on Ethereum and the entire cryptocurrency market. We need to understand the role of the SEC and its impact on the market. As the regulator of the US securities market, the SEC's enforcement direction and decisions directly affect the confidence and behavior of market participants. The SEC's decision not to consider the sale of Ethereum 2.0 as a securities transaction means that Ethereum has avoided complex compliance issues, which is a great boon to its market value and development prospects.

Consider Ethereum's position in the cryptocurrency market. As of June 2024, Ethereum is the second largest cryptocurrency by market capitalization, second only to Bitcoin. Ethereum 2.0 aims to improve network efficiency and scalability by introducing a proof-of-stake (PoS) mechanism. The conclusion of the SEC investigation has eliminated market concerns about possible legal risks facing Ethereum, which will further consolidate its market position. In addition, judging from the market reaction, the SEC's decision is likely to drive Ethereum's price up. Market participants are often cautious about regulatory uncertainty, and this decision undoubtedly reduces uncertainty and enhances market confidence.

Fed's Williams said that as inflation slows, interest rates are expected to gradually decline. This statement is consistent with the forecast of Macquarie Group, which brought forward the time of the Fed's first interest rate cut to December this year. This series of information reveals the current economic situation and the direction of future monetary policy. Williams emphasized that the Fed's decision will depend on the performance of economic data. The current US economic situation is good and in a better balance, which provides flexibility for monetary policy. As inflationary pressures ease, gradual interest rate cuts become possible. This view is in line with economic theory that when economic growth slows and inflation falls, a moderate reduction in interest rates will help stimulate economic activity.

Macquarie Group's forecast provides a more specific timeline. Analyzing the May CPI report, David Doyle, an economist at the group, pointed out that the breadth of inflationary pullback indicators showed significant improvement. In addition, mixed signals from the labor market also support expectations of loosening monetary policy. Macquarie now expects the Fed to cut interest rates by 25 basis points in December, compared with the previous forecast for the first quarter of 2025. This forecast is based on recent positive changes in economic data, indicating increased market confidence in inflation control. For us, this information is significant, as interest rate cut expectations tend to boost the cryptosphere.

The Securities and Exchange Commission of Zimbabwe (SECZ) and the Reserve Bank of Zimbabwe (RBZ) are jointly developing a framework for virtual asset trading. The goal of the framework is to provide a clear legislative basis and safeguard customer rights under the Data Protection Act, while also including educational support. This move shows that Zimbabwe is gradually moving towards formal regulation of virtual assets. A clear legislative framework is essential for the healthy development of the virtual asset market. Currently, virtual asset trading in Zimbabwe is mainly carried out in the informal market, which lacks sufficient security and puts users at risk of loss. By formulating regulations, market behavior can be effectively regulated, illegal activities can be reduced, and market transparency and security can be improved.

Infrastructure investment and licensing fees for foreign systems are the main challenges facing Zimbabwe. Building an effective virtual asset trading platform requires a lot of capital and technology, which is a considerable burden for Zimbabwe, which has an underdeveloped economy. At the same time, licensing fees for external technology providers may also hinder local development. Therefore, Zimbabwe needs to seek international cooperation and support to reduce these costs. Chengetedzai Depository Corporation (CDC) supports legalizing virtual asset trading through regulation, pointing out that other countries have implemented similar measures. Globally, many countries have recognized the potential of virtual assets and gradually established corresponding regulatory systems. Zimbabwe can learn from the experience of these countries to better formulate regulations suitable for its national conditions.

The U.S. spot Bitcoin ETF saw a net outflow of 2,293 coins yesterday, worth $152 million.

BTC: Yesterday, a small negative line with a lower shadow was closed, and the Bitcoin spot ETF funds are still in a net outflow state. In the short term, the 120-day moving average has been broken. Even if it rebounds, there is a high possibility of a false breakthrough, which is difficult to achieve overnight. It may be to explode the short contract. There may be further declines in the future. The observation of the general trend still needs to use time to exchange for space. In the process of the bull market, long-term holding of the currency is still enough.

ETH: Yesterday, a hammer line with large volume was closed, and the support from below is relatively strong. It is currently at the 5-day moving average position, and with the support of ETF, there may be further rebound in the short term.

ONDO: Yesterday, a small positive line was closed, and the volume increased. It seems that there is a large amount of bargain-hunting funds at the 60-day moving average position. It is now at the 5-day moving average position, and there may be further strengthening in the short term.

PEPE: Yesterday, a standard hammer line was closed, with a large volume below. It is currently above the 60-day moving average, and may usher in an oversold rebound in the short term.

TRX: Yesterday, a hammer line with large volume was closed, and funds intervened. It is currently above the 20-day moving average, and multiple moving averages are about to overlap, and a rebound may occur in the short term. #美联储何时降息？ #BTC走势分析 #新币挖矿