Fed Daly said that if there is no expected recovery in global supply, it will continue to take interest rate hikes. He gave the rate hike in 2022 and 2023, thinking that it will reach 4-4.5% by the end of the year and 4.5% next year. From this point of view, Fed officials have also reached limited expectations for the rate hike in the future. An additional 125 basis points of interest rate hikes in November and December will reach 4.25 to 4.5%, which will be reserved for the entire year of next year. The interest rate is only 0.5%, so for next year, it is difficult for the market to continue to fall. The worst result is repeated fluctuations at the bottom. Therefore, it is still the same point of view: the darkest moment is over, and now we should choose a positive long-term layout.
U.S. congressional officials have proposed legislation to expand 401k investment options, including cryptocurrencies. If this bill is passed, it means that the U.S. pension plan will be aggressively deployed in cryptocurrencies, which will bring trillions of dollars to the market. , the extent of its benefits is difficult to estimate.
The chairman of the U.S. Commodity Futures Trading Commission (CFTC) said that if Congress can give the CFTC the power to regulate the crypto market, Bitcoin will get a boost, the price may double, and once the regulation is implemented, there will be a large inflow of mainstream institutions. I don’t know what the chairman has in mind, and what trump card in his hand can double Bitcoin, but since he dares to say so, one is to win public opinion, and the other is to have great confidence in the future of Bitcoin.
The EU anti-money laundering regulations have joined the fields of DeFi, DAO and NFT, which have become potential basis for money laundering. It seems that it will be more difficult to use cryptocurrencies to launder money in Europe in the future, at least the way to enter traditional commercial banks will be blocked. The investigation is very strict, but with an anonymous address to manage their decentralized assets, no one can stop it.
Since June 1, the market value of USDC has evaporated by more than 7.5 billion US dollars, and it has shrunk by nearly 15%. This is an exaggerated decline. Not only is there a reduction in institutional holdings, but Binance has also adopted the method of directly converting the charged USDC into BUSD. Accelerating this trend, USDT is still firmly in the leading position and will be difficult to shake in the short term.
Panic 21, little change.
Bitcoin: Long-term holders are selling Bitcoin at an average loss of 42%. Long-term investors are starting to waver in this position. , the market can recover again. U.S. stocks are expected to fluctuate repeatedly, so Bitcoin will continue to fluctuate around 20,000 until the opening of U.S. stocks next week.
Ethereum: After 8 consecutive days, there is a certain tendency to stop falling. Yesterday, Ethereum achieved deflation and the supply was negative. This is a very good long-term signal. With the gradual improvement of the ecology, it will be conducive to long-term growth. Buterin believes that the processing capacity of the Ethereum ecosystem will increase by 100 to 1000 times, which should not be underestimated.
MKR: Among all lending protocols, only MakerDAO’s revenue exceeds token incentives and has achieved positive growth. This is the greatest value of the protocol, and mid- and long-term value investment is worth participating in.
LINK: After the 2.0 upgrade, user fees will be increased. This is because after the stall is spread, users will start to ask for it, which is good for the token itself, and will help feed back profits to the token market value in the future.
Forget the unpleasantness of the market for a while, it will get better sooner or later.
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This article[Mad Men Say Trend]Before the US stock market opens next week, it is expected to fluctuate around 20,000 and first appear on the blocker.