Tonight is the day of big changes! All the long orders for bottom fishing at 54100 were completed at around 63400. My girlfriend asked me when I would make another move. I spent a lot of time waiting. Today is a feast for the global financial market. China lowered the interest rate of existing houses. The Bank of Japan released the minutes of monetary policy. The President of the European Central Bank spoke. Powell and the Fed voting committee took turns to speak. Yellen spoke. This is the first time that the global central banks have spoken intensively after the interest rate cut, and their purpose is to compete for liquidity after the global interest rate cut. Pie also needs to keep up with other assets to compete for liquidity.

3 Reasons Why Bitcoin Can't Hold at $64,500!

Weak U.S. economic data, such as falling home sales prices and rising inventories, are mainly due to slowing consumer demand and economic recovery. This has made investors worried about the future economic outlook, which first weakened their risk appetite and led to a correction in asset prices such as Bitcoin. Bitcoin is facing greater risk aversion pressure at the $64,500 resistance level, indicating that the market has encountered resistance when breaking through this key level. Investors' concerns about funds have further exacerbated their risk sentiment, which may lead them to believe that the short-term profit-making period is over and choose to wait and see for the time being rather than continue to hold high-volatility assets.

The upcoming US presidential election and its uncertainties have also had a significant impact on market sentiment. Political changes often bring short-term market fluctuations, especially when investors find it difficult to predict the impact of election results on policies and the economic environment. Overall, Bitcoin's pullback is not just an isolated phenomenon, but the result of the combined effects of macroeconomic and political factors. In the face of these factors, investors need to remain patient and flexibly adjust their investment strategies according to further changes in the market.

Another concern for global investors comes from China. The Chinese central bank announced an interest rate cut and provided $142 billion in credit support to individuals and businesses. Analysts at Nomura Securities pointed out that these measures reflect the weak economy and emphasized that fiscal policy should take precedence over monetary policy. However, Yahoo Finance believes that the effect of these measures may be limited.

In addition, on September 24, after the U.S. stock market closed, Berkshire Hathaway announced a further reduction in its stake in Bank of America, selling a total of $8.9 billion worth of shares in less than three months. This move has heightened market concerns about the financial sector, especially against the backdrop of the S&P 500 hitting a record high on September 25. Bitcoin traders are concerned that a potential correction in the stock market could have a negative impact on the cryptocurrency market.

The upcoming U.S. election and concerns about a stock market bubble have also had an impact on investor sentiment. Bitcoin investors are closely watching the election results, especially Democratic candidate Kamala Harris. Alex Svanevik, an executive at blockchain analysis platform Nansen, said Harris may adopt policies that are unfavorable to the U.S. crypto industry, while some bullish Bitcoin investors hope that former President Trump will be elected. His campaign supports Bitcoin miners and he has spoken at Bitcoin conferences.

Bitcoin traders are also concerned about the uncertainty caused by the election. Currently, Bitcoin prices are near their highest levels since August last year, but sentiment in the derivatives market remains muted. Bitcoin futures premium has been around 6% since September 2, below the normal 5% to 10% range, indicating weaker bullish sentiment. Although Bitcoin rose by 20% in early September, market optimism has not increased significantly. Currently, weak macroeconomic data, the possibility of a stock market correction, and uncertainty about the U.S. election remain the main factors driving Bitcoin price fluctuations.

Breaking news! Binance hits a snag for the second time

TrueUSD (TUSD) US dollar stablecoin was accused by the US Securities and Exchange Commission (SEC) of unregistered sales and false investment promises. In the Asian market at noon on Thursday (September 26), TUSD decoupled from the US dollar fiat currency in the short term, falling to $0.9981. Decentralized exchange Curve Finance removed TUSD from its stablecoin crvUSD collateral. Following BUSD's encounter with US regulation, Binance Exchange has stepped on the thunder for the second time and has now stopped its Launchpool support for TUSD.

At the Curve Finance governance forum on Wednesday, the cross-chain protocol Wormhole put forward a new proposal, suggesting that the upper limit of TUSD in the crvUSD collateral pool be reduced to 0, which means that TUSD will no longer be used as a reserve.

Wormhole explained that the move was to "completely eliminate the risks posed by regulatory risks and solvency issues." This triggered panic in the market, and TUSD broke away from its 1:1 anchor with the U.S. dollar fiat currency and fell to $0.9981 on Thursday.

Currently, Curve’s PegKeeper liquidity pool allows users to mint up to $10 million of crvUSD through TUSD. The proposal also suggests reducing the amount of crvUSD that can be minted by PayPal’s stablecoin PYUSD from $15 million to $5 million to match the relative risk of each PegKeeper.

Prior to this, the U.S. Securities and Exchange Commission announced on Tuesday that it had reached a settlement with TrueCoin and its parent company TrustToken over unregistered sales and false investment promises.

The market structure remains unchanged, with the top four popular currencies, BTC, ETH, SOL, and BNB, firmly sitting in the top 1-4.

Among the six rankings 4-10, neiro, sats, pepe, wif, and doge belong to the Meme concept. No matter which ones, there are definitely 4-6 Meme concept coins in the last 6 rankings.

Let's talk about the newcomer sei. Sei is a Layer1 public chain launched at the same time as Sui and Apt. They are all new-generation high-quality public chain projects. It can be said that it is one of the few valuable projects in this round of VC coins launched by the team that is really working on it.

When the market comes, it is inevitable that high-quality Shanzhai projects and popular MEME will take off first. The wind of the Shanzhai season can no longer blow to every coin. Once this wave of wind passes, it will be clear who is cutting leeks and who is doing things!