AICoin Focus: Daily Hot Picks (August 27th)

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1 year ago

1. Former US Treasury Secretary Summers stated that the Fed's rate cut in September was the right move, but caution is needed regarding the medium-term outlook for monetary policy.

2. According to the CoinShares report, influenced by the Fed's rate cut hints, the inflow of Bitcoin reached $543 million last week, marking the largest positive fluctuation in five weeks.

According to CoinShares, the total inflow of Bitcoin reached $543 million last week, as Fed Chairman Jerome Powell hinted at the central bank's possible start of interest rate cuts. Digital asset investment products saw a weekly inflow of $533 million, marking the largest positive fluctuation in five weeks. -Original

3. After Telegram founder Pavel Durov was arrested in France, Toncoin TON dropped by 20%.

4. A California judge ruled that the US Securities and Exchange Commission's lawsuit against the Kraken cryptocurrency exchange will proceed to the trial stage.

5. Russia is about to start trials of encrypted payments and exchanges to help alleviate the impact of international sanctions on enterprise payments.

Russia is about to start trials of cryptocurrency exchanges and use digital tokens in cross-border transactions to help alleviate the payment difficulties faced by Russian enterprises affected by international sanctions. Two sources familiar with the matter stated that the trials will begin on September 1. They mentioned that Russia will use the national payment card system to exchange between rubles and cryptocurrencies when testing the payment and trading platform. In July of this year, the Russian parliament passed a law legalizing cryptocurrency mining and approved a framework allowing the testing of digital tokens for cross-border payments under the supervision of the central bank. Russian President Putin signed these bills into law on August 8. As Russia conducts cryptocurrency trials, Russian businesses are facing increasing obstacles in making payments to overseas suppliers and receiving payments for exported goods. -Original

6. Grayscale transferred 833.191 BTC to Coinbase Prime.

7. QCP Capital's report indicates that the market sentiment is strongly bullish, but an explosive upward movement is not expected in the short term, and Bitcoin may fluctuate within the range of $62,000 to $67,000.

QCP Capital's latest report points out that after the Jackson Hole meeting, there has been a significant amount of buying of bullish option spreads in the market, along with a large number of selling of call options expiring in March 2025 with a strike price of $100,000. This phenomenon may indicate a strong bullish sentiment in the market, but an explosive upward movement is not expected in the short term. Despite the rise in spot prices, the volatility of BTC and ETH still leans more towards bearish than bullish before October, contrasting with the general optimistic sentiment. QCP's analysis suggests that this may indicate that the market is well prepared for this upward movement and is quickly profiting by selling call options. With the recent gradual decrease in volatility, QCP Asia expects Bitcoin to fluctuate within the range of $62,000 to $67,000 in the short term. Based on the current market trend, QCP recommends investors to consider positioning for a bullish strategy in the fourth quarter. -Original

8. BTC fell to around $62,300 in the early morning and rebounded to around $65,600, with a 5% increase.

9. Binance trader Nachi stated that Bitcoin will reach a new all-time high in the coming months, and the market will turn bullish.

Binance trader Nachi expressed a new viewpoint, stating that after Powell's crucial speech at Jackson Hole, Bitcoin decisively broke through the $62,000 resistance level, which is a very clear signal that the tide has turned, and Powell has once again fully embraced a dovish stance. As long as economic data does not appear overly weak, the market will remain strong, based on the upcoming interest rate cuts in the US and the accelerated injection of liquidity by central banks around the world; the selling pressure from governments, MtGox, Jump, and Genesis has passed, and so on. In the coming months, demand will exceed supply. At the same time, Nachi stated that they have almost fully invested and firmly believes that the market will turn bullish, with BTC significantly rising to a new all-time high in the coming months. -Original

10. US stocks closed mixed, with the Dow rising by 0.16%, the Nasdaq falling by 0.85%, and the S&P 500 index dropping by 0.31%.

At the close of the US stock market, the Dow rose by 0.16%, the Nasdaq fell by 0.85%, and the S&P 500 index dropped by 0.31%. -Original

11. Uniswap Labs has achieved $50 million in revenue to date.

Uniswap Labs has achieved $50 million in revenue to date. -Original

12. NatWest Markets analysts expect the Fed to cut rates by 150 basis points this year, and the US dollar will weaken.

In a report, NatWest Markets analysts stated that the increasing confidence in the prospect of a Fed rate cut and the expectation of a soft landing for the US economy are posing increasing resistance to the rise of the US dollar. They mentioned that this situation seems more enduring unless there are unexpected US data and the expectation of a Fed rate cut is delayed. NatWest Markets expects the Fed to cut rates by 150 basis points this year, nearly 50 basis points higher than the pricing in the money markets. The analysts at the institution stated, "It is still a story about 'how much' the rate will be cut next month, rather than 'whether' the rate will be cut." -Original

13. ETH fell below the $2,700 mark, currently trading at $2,706.00, with a 2.44% decrease in the past 24 hours.

14. After breaking through $65,000, BTC fell back, with over $180 million in main force transactions betting on this direction.

Real-time monitoring of large orders in the market, automatically generating and pushing reports. Open PRO membership to view the complete main force data report. -Original

The above are selected hotspots from the past 24 hours. For faster news, please download AICoin (aicoin.com).

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