As U.S. producer price data reinforced hopes of a rate cut by the Federal Reserve in September, the three major U.S. stock indexes surged, with BTC standing above 60K and ETH holding steady at 2,700. Investors will await Wednesday's Consumer Price Index (CPI) and Thursday's retail sales data for further direction on the Fed's next policy moves.
PPI shows inflation continues to cool
The July Producer Price Index (PPI) released by the United States yesterday showed that the overall PPI in July increased by 0.1% from the previous month, which was lower than expected, as the decline in service prices suppressed the rise in the cost of goods, indicating that inflation continues to cool. Investors will also await Wednesday's Consumer Price Index (CPI) and Thursday's retail sales data for further direction on the Fed's next policy moves.
The three major U.S. stock indexes surged, with Huida rising more than 6%, driving a strong rebound in semiconductor stocks. Investors are looking forward to whether Huida's financial report to be announced on the 28th will bring a more powerful catalyst for AI.
(Asset management companies are optimistic about the U.S. stock market outlook: last week was characterized by seasonal fluctuations, the market was not overheated, and there was no bubble in technology stocks)
BTC reaches 60K
Bitcoin once rose above 61,500 yesterday. Yesterday, Tesla founder Musk and former US President and Republican presidential candidate Trump had a conversation of the century on Twitter (X), but there was no mention of it at all. When it comes to cryptocurrency, the recent rise in Harris' polls has also cooled down the FOMO sentiment in the community.
(Millions of people listened! Musk talks to Trump: Banning illegal immigration, Biden will cause chaos in the world, only strongman politics will have a future for the United States)
However, BitMEX founder Arthur Hayes said that he will not bet on who is elected president, but should focus on when liquidity will be released. He is still optimistic about the target price of Bitcoin to one million US dollars.
(Arthur Hayes: The yen rises to 100, Bitcoin is looking at millions of magnesium, and the spring of shit coins will come)
ETH holds steady at 2,700
The recent trend of ETH has been relatively stable. As the encryption market gradually stabilizes, Grayscale’s Ethereum spot ETF (ETHE) also successfully ended the net outflow since the conversion; asset management company CoinShares said that in the market recovery from last week to this week At this stage, Ethereum’s fund products seem to be more attractive to investors than Bitcoin.
(Grayscale ETHE ends net outflow! CoinShares: Investors prefer ETH trading products instead of BTC)
This article PPI consolidates hopes of interest rate cuts, US stocks surge, BTC stands above 60K, ETH holds steady at 2,700. First appeared on Chain News ABMedia.
