Tesla opened up 1% on Wednesday, after rising for 10 consecutive trading days. Bill Gross, known as the "old bond king", said Tesla behaved like a meme stock. Powell went to Capitol Hill again on Wednesday, saying that he had some confidence in inflation and the data was very clear. At a hearing on Tuesday, Powell said that recent employment data sent a fairly clear signal that the labor market had cooled significantly, and said that the Fed's "likely direction" was to cut interest rates.
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Fabio Panetta, governor of the Bank of Italy, said that the Bank of Italy will publish guidelines on how to apply the EU's upcoming cryptocurrency rules "in the coming days," "aimed at promoting the effective application" of the EU's Markets in Crypto-Assets Regulation (MCA) and "protecting" holders of some cryptocurrencies. MiCA outlines two major categories of tokens, asset-referenced tokens (ARTS) and electronic money tokens (EMTS). According to the revised S-1 application submitted to the U.S. Securities and Exchange Commission (SEC), Invesco Galaxy disclosed that its spot ETH ETF fee rate is 0.25%. According to the revised S-1 application submitted to the U.S. Securities and Exchange Commission (SEC), Grayscale Mini ETH Mini Trust and 21Shares Spot ETH ETF have not set a handling fee. As of July 10, Australia's first spot BTC ETF (IBTC) has accumulated 80 BTC since its launch. Australia's largest stock exchange ASX has approved its second spot BTC ETF. Arkham data shows that on the afternoon of July 9, a total of 6,306.9 BTC were transferred out of the German address, and the German address currently holds 22,847 BTC. Societe Generale-Forge, a subsidiary of Societe Generale, announced that it has obtained the qualification to issue stablecoins, and its EURCV stablecoin has complied with the MiCA regulations that came into effect on June 30. According to the data of the RWAxyz platform, as of July 8, the market size of tokenized US Treasury bonds reached US$1.81 billion, of which the market size of BlackRock BUIDL Fund exceeded US$500 million. CNBC released an analysis saying that according to the chart, BTC is maintaining support and is ready to set a new record high again. On July 10, the Fear and Greed Index was 28, and the level was still panic. Julio Moreno, head of research at KryptonQuant, said that data shows that the new "BTC whales" have realized losses of US$1 billion in the past two weeks. Previously, the group had achieved profits in the first quarter. Analyst Eugene Ng Ah Sio said that "it is predicted that most altcoins have bottomed out, the open interest level has completely collapsed, and many tokens are in a state of complete apathy. Their self-selection has extended to their toes and they will be busy looking for the bottom and be the first to see the bottom."
The Chicago Board Options Exchange (Cboe) has confirmed that two asset management companies VanEck and 21Shares plan to launch an ETF based on Solana. Cboe submitted a 19b-4 document to the U.S. Securities and Exchange Commission (SEC) on Monday, requesting the listing of VanEck and 21Shares' potential spot Solana ETF. Once the SEC confirms receipt of the document, the regulator will approve or reject the product within 240 days. On July 9, the U.S. spot BTC ETF had a net inflow of $216.7 million. In the past two days, the U.S. spot BTC ETF has purchased a net of $438 million in BTC. BlackRock's spot BTC ETF (IBIT) has absorbed $18 billion in BTC in 6 months. Bitfnex analysts said that BTC may have bottomed out, and the derivatives market indicates that the price of the digital asset is beginning to stabilize, and price fluctuations have begun to decrease, as "the spread between implied volatility and historical volatility has narrowed by nearly 990%, indicating that traders expect BTC prices to remain in the range and stabilize. Katherine Dowling, Chief Business Officer of Bitwise, said that the spot ETH ETF is "close to the finish line" and the U.S. Securities and Exchange Commission (SEC) is "very welcome" to discussions about other products. The SEC and ETF issuers have fewer and fewer issues to address in each S-1 amendment, indicating that the release date of both parties is getting closer. According to SEC Director Gary Gensler, the agency will fully approve the issuer's registration statement in the summer, giving an open time frame. 10x Research said that all six applicants for the spot ETH ETF have submitted updated S-1 forms, indicating that SEC approval may be imminent. In addition, the RSI oversold indicator indicates that the market will reverse in the short term. At present, two-thirds of the reversal indicators have turned bullish, and BTC has rebounded to If the price fails to break through the $60,000-62,000 level, the price of the currency may fall again.
On Wednesday, Powell went to Capitol Hill again. Powell said: He has some confidence in inflation and the data is very clear; (When asked whether the September rate cut may be considered as other factors, he said) The Fed only pays attention to economic data, and everything it does to cut interest rates is very well-founded. At another hearing on Tuesday, Powell told the Senate that recent employment data "sent a fairly clear signal that labor market conditions have cooled significantly, and said that the Fed's "likely direction" is to cut interest rates. Yellen and Powell agreed that inflationary pressures in the labor market have decreased. Economist Derek Tang said Powell's focus is entirely on the labor market, and further weakness in the labor market is enough to stimulate the Fed to act. There seems to be nothing in Powell's testimony that changes the market's expectations for two rate cuts this year. Citigroup said: The Federal Reserve will begin to cut interest rates aggressively in a few months and continue until next summer. The bank cited new signs of economic slowdown and believed that the Federal Reserve will cut interest rates by 25 basis points at each meeting starting in September, for a total of eight rate cuts until July 2025, which will reduce the benchmark interest rate by 200 basis points. On Wednesday, the U.S. stock market opened, and the Nasdaq and S&P 500 continued to hit new highs. The S&P 500 broke through 5,600 points for the first time, with an intraday increase of 0.41%. This Thursday, the United States will release the latest inflation data. The previous value of the Consumer Price Index (CPI) in June was 3.3%, and the expected value was 3.1%; the previous value of the core CPI in June was 3.4%, and the expected value was 3.4%. The release of new inflation data may give more clues to the September rate cut. At present, the overall CPI in the United States is 3.3%, and the core CPI is 3.4%. 3.4%. There are still three inflation data before the September interest rate meeting. In September, it is likely to fall to the 2-3% range, which is basically in line with the Fed's expectations for inflation. Coupled with the weakness of the US economy and employment, it is expected to lead to the first interest rate cut and enter a new round of rising time. Treat it rationally. From the perspective of the cyclicality of the big cake and the law of risky assets, there is no reason for a bear market during the Fed's interest rate cut (flooding), and it is usually a bull market. #美联储何时降息？ #德国政府转移比特币 #BTC下跌分析
