BTC price hits a historical high of $75,000: Analysts say this is what you should expect next BTC price hits a new all-time high (ATH), breaking $73,700 and reaching a high of $75,000 on November 6th. Following this, cryptocurrency analyst Tony Severino revealed his expectations for the next step of this flagship cryptocurrency. Tony Severino stated in a post on X that the price of BTC is ready for a parabolic pump. He told market participants that the price of BTC will break the $75,000 mark. The cryptocurrency analyst also revealed that BTC is approaching the upper band of the Bollinger Bands, which is the tightest in history. Cryptocurrency analyst shared a chart showing that BTC prices could rise to $140,000, and this flagship Cryptocurrency could reach its potential market peak in 2025. Tony Severino previously mentioned that BTC is approaching the strongest phase of the Bull Market and explained that based on historical trends, BTC could rise to $133,000. In fact, the BTC price seems to be entering the strongest phase of the Bull Market after hitting a new all-time high. The recent pump in price to new highs can be attributed to Donald Trump, who has been elected as the next President of the United States. This provides bullish prospects for BTC and the broader Cryptocurrency market, as the elected President has openly declared support for BTC and other Cryptocurrencies. In addition to Trump's easy victory, it is worth mentioning that the price of BTC has never been lower than the level on the day of the US presidential election in history. Therefore, this may be the lowest range at which the flagship cryptocurrency may trade before recording the next parabolic trend of this Bull Market. In addition to Donald Trump's victory, there are other catalysts expected to trigger the next round of the BTC bull market. One of them is the possibility of a Fed rate cut, which is expected to take place on November 7th and is favorable for BTC prices. The Fed started its FOMC meeting today and will decide on the rate cut tomorrow. Data shows that there is a 97.6% probability of a 25 basis point (bps) rate cut by the Federal Reserve. With more capital flowing into its ecosystem, this provides a bullish outlook for BTC price. Institutional investors are also taking a wait-and-see approach as they may allocate more funds to SpotBTC ETF after the US election and the Fed rate cut. According to the data, currently, the price of BTC is about $74,500, and it has pumped more than 9% in the past 24 hours. (Data Source: Scott Matherson)

EOS Foundation announced on May 29th that the release of EOS_Contracts v3.4.0 introduces fundamental changes to its tokenomics. The first round of proposed changes will only take effect if at least 15 out of the 21 EOS Block Producers (BPs) successfully approve the multisignature (MSIG). The main proposed changes include limiting the total number of EOS tokens to 2.1 billion. The second part of the content is to explore the transition to REX 2.0. With the implementation of REX 2.0, it is expected that the EOS staking rewards will start at the end of June. The upcoming changes aim to enhance resource exchange (REX) by transferring system fees to Block Producers (BP) and changing the REX staking lock-up period from 4 days to 21 days.

While gold’s very near-term outlook appears neutral to slightly bearish, we will need to reassess this view late in the upcoming week when fresh core personal consumption expenditures price data, the Fed's preferred inflation measure, is released. Consensus estimates indicate that the underlying PCE deflator advanced 0.3% in April, bringing the annual reading down to 2.7% from 2.8% previously, a small step in the right direction and welcome news for policymakers. For gold to reverse course and resume its upward trend, bulls need to see the core PCE report surprise to the downside. Such an outcome could reignite optimism that the disinflationary trend, which began in late 2023 but stalled earlier this year, is back on track, strengthening the argument for the Federal Reserve to start dialing back on policy restraint early in the fall. As it stands, there is about a 45% chance of a 25-bps rate cut occurring at the September FOMC meeting. （Source:Dailyfx-Diego Colman）

According to official news, aelf announced two new Block Producer (BP) seats, aiming to further enhance network security and Decentralization. According to aelf's contract framework, the total number of BPs in the network is capped at 2N+1, of which N is 8 starting in 2022 and increasing by 1 annually thereafter. Since the successful Node elections in early 2022, the AELF welcomed its first 17 Node, and the addition of two additional BP seats brings the current number of BP to 21, and it is reported that AELF governance participants are eligible to receive ELF Token as a reward.

Macro indicators and analysis affecting cryptocurrency price trends this week: Federal Reserve interest rate decision Last week, US inflation data CPI & PPI were higher than expected, but the core inflation data excluding volatile food and energy were basically in line with expectations. The European Central Bank continued to raise interest rates by 25 bps and said that interest rates have not reached their peak; this week We are welcoming the announcement of interest rate decisions from the central banks of the United States, Switzerland, the United Kingdom, Australia and Japan. Regarding the Federal Reserve's decision, the market has basically expected that interest rates will not continue to increase, and the focus may be more on Powell's relevant statements. Last week review ●The year-on-year CPI increase in the United States in August rebounded to 3.7% from 3.2% in July, marking the second consecutive month of rebound in year-on-year growth, exceeding expectations of 3.6%. The core CPI, which excludes energy and food, is what the Fed is more concerned about. The year-on-year growth rate dropped from 4.7% to 4.3%, in line with expectations. The core CPI increased slightly from the previous month's 0.2% to 0.3%, exceeding expectations of 0.2%. Cooling core CPI may ease pressure on the Fed to some extent. ●The U.S. PPI increased by 1.6% year-on-year in August, higher than the expected 1.3%, and exceeded expectations for the second consecutive month. Excluding volatile food and energy, core PPI increased by 2.2% year-on-year in August, in line with expectations, lower than the previous value of 2.4%. Core PPI increased by 0.2% month-on-month, in line with expectations and lower than the previous value of 0.3%. ●The European Central Bank raised interest rates by 25 basis points, and Lagarde said that "interest rates have not reached their peak." This week’s key events & indicators September 19th ●The Reserve Bank of Australia releases the minutes of its September monetary policy meeting (09:30) ●Eurozone August CPI annual rate final value (17:00) September 20 ●The Federal Reserve announces a summary of its interest rate decision and economic expectations (02:00) ●Federal Reserve Chairman Powell holds a monetary policy press conference (02:30) ●Swiss National Bank announces interest rate decision (15:30) ●BoE announces interest rate decision and meeting minutes (19:00) September 21st ●The Bank of Japan announces its interest rate decision and holds a monetary policy press conference (11:00) (Data source: GaryMa)

PANews reported on August 27 that Curve founder Michael Egorov proposed to increase the transaction fee rate of the crvUSD core pool from 1 bps (ie 0.01%) to 2 bps (ie 0.02%) in the governance forum. This move will bring more trading revenue to Curve and will increase the difficulty of manipulating the price oracle (EMA).

Odaily Planet Daily News Curve founder Michael Egorov initiated a proposal in the governance forum, suggesting that the transaction fee rate of the crvUSD core pool should be increased, and the impact should be further observed. Michael proposed to first increase the transaction fee rate of the USDC/crvUSD pool from 1 bps (ie 0.01%) to 2 bps (ie 0.02%). The potential benefit of this move is that if the transaction volume does not change much, it will bring more income to Curve from transaction fees, and it can increase the difficulty of manipulating the internal oracle (EMA).

Macro indicators and analysis affecting the cryptocurrency market this week: ADP employment, non-farm employment, multi-country PMI Last week, the Federal Reserve and the European Central Bank raised interest rates by 25 bps as scheduled. Officials expressed a relatively neutral attitude. The current US economic data is acceptable, and inflation has also slowed down more than expected. Officials are more cautious about inflation stickiness. This week focuses on US employment and unemployment data: July ADP employment, July seasonally adjusted non-farm payrolls and the unemployment rate. review last week ●The Federal Reserve raised interest rates by 25 bps as scheduled, saying it would continue to assess new information and its impact on monetary policy. In addition, Powell said at the press conference: The possibility of raising interest rates in September has not been ruled out, and no interest rate cuts will be made this year. The Fed no longer predicts that the United States will fall into recession. ●The European Central Bank announced another rate hike of 25 bps. In addition, Lagarde said at a press conference that he is open to decisions in September and beyond. In September, interest rates may be raised, or interest rates may be suspended, but interest rates will not be cut. ●The initial value of the annualized quarterly rate of actual GDP in the second quarter of the United States was actually announced at 2.4%, expected to be 1.8%, and the previous value was 2.0%. ●The core PCE in the United States rose by 4.1% year-on-year in June, which was lower than expected, the smallest increase since September 2021. ●The central bank of Japan maintained the current ultra-loose monetary policy unchanged. ●IMF announced the "World Economic Outlook" for July 2023: There are still downside risks in the upward revision of world economic growth expectations. ●Basically, the initial values of the manufacturing/service PMIs in the Anglo-American, French, German and Eurozone in July were all lower than expected, and only the initial value of the Markit manufacturing PMI in the United States in July was higher than expected. This week's key events & indicators July 31st ●China's July official manufacturing PMI (09:30) August 01 ●China July Caixin Manufacturing PMI (09:45) ●The final value of manufacturing PMI in the Anglo-American, French and German Eurozone in July August 02 ● ADP employment in the United States in July (10,000 people) (20:15) August 03 ●The number of people applying for unemployment benefits in the week of July 29 in the United States (10,000 people) (20:30) ●The final value of the service industry PMI in the Anglo-American, French and German Eurozone in July ●The Bank of England announces interest rate resolution, meeting minutes and monetary policy report (19:00) August 04 ●U.S. unemployment rate in July (20:30) ●Non-agricultural employment population after seasonal adjustment in July in the United States (10,000 people) (20:30) (Data source: GaryMa)

Bitcoin dips below $30,000 ahead of possible Fed rate hike while DOGE surges 7% as whales accumulate 3 billion DOGE in past three weeks Bitcoin ( BTC ) briefly hovered below $30,000 early Wednesday as investors waited for a possible resumption of rate hikes by the Federal Reserve. Dogecoin ( DOGE ) surged 7% amid optimism about what Elon Musk's latest tweet on Twitter means for the MEME coin. About a month ago, financial giant BlackRock's application for a bitcoin ETF sparked speculation that bitcoin could divert large sums of money from traditional investors if the world's largest asset manager wins regulatory approval. Moved to digital assets, after which the price of Bitcoin soared above $30,000. But it has hovered around that level since then, partly because of concerns about the Fed's imminent decision on July 26 - a possible 25 basis point (bps) hike. DOGE recently breached $0.08, a level it hadn't breached since April until Monday. Prices soared Tuesday after a report suggested billionaire Elon Musk's brazen overhaul of Twitter (now known as X) could expand the use of the popular memecoin and other cryptocurrencies. Even before acquiring Twitter, Musk had expressed interest in DOGE, making various statements that pushed the token's price up. Brian D. Evans, CEO and founder of Web3 venture capital studio and advisory firm BDE Ventures, told CoinDesk: “Elon is clearly interested in DOGE, and it’s almost a rumor part of the long-running joke, but I wouldn't be surprised if he actually paid through DOGE." Cryptocurrency market watcher Ali Martinez has called attention to the descending triangle forming on Dogecoin’s weekly chart. As shown in Figure 2. However, the fascinating part of the analyst's disclosure is that the last DOGE faced this multi-year descending triangle, and it bounced back by an astronomical 23,200%. The recent volatility has raised questions about the asset's ability to spark a similar rally. Meanwhile, whales holding between 1 billion and 10 billion DOGE have amassed 3 billion tokens worth $225 million over the past three weeks. As shown in Figure 3. This accumulation pattern further strengthens hopes of a possible breakout of the descending triangle. However, the magnitude of the rebound after DOGE breakout remains to be seen. Some investors feel that the increase in the circulating supply of DOGE has hindered this rally. Impressively, Dogecoin has gained more than 31% over the past seven weeks, closing higher in six of the seven weeks. Despite this bullish momentum, DOGE is still trading below its 50-day SMA ($0.0823) and 200-day SMA ($0.8684). The asset changed hands at $0.0773. (Data source: James Rubin, ALBERT BROWN)

Macro indicators and analysis affecting the cryptocurrency market this week: interest rate resolution, GDP & PCE, multi-country PMI Data on major macro events gathered this week. The Federal Reserve, the European Central Bank, and the Bank of Japan will announce the latest interest rate resolutions. Among them, the current market expects that the Fed will make a "final increase" of 25 bps. In terms of data, we can focus on the actual GDP in the second quarter of the United States and the PCE price index in June, as well as the initial value of the manufacturing/service industry PMI in the Anglo-American, French, and German Eurozone. review last week ●Minutes of the Reserve Bank of Australia meeting: The reason for not raising interest rates is more convincing, and the possibility of further raising interest rates is reserved. ●British June CPI grew by 7.9% year-on-year, lower than 8.7% in May and lower than economists' expectations of 8.2%. ●The final value of the reconciled CPI in the euro area in June rose by 5.5% year-on-year, higher than the initial value of 5.4% and 5.3% in May. ●In the United States, the number of initial jobless claims for the week ending July 15 was 228,000, expected to be 242,000, and the previous value was 237,000. This week's key events & indicators July 24th ●Initial Value of Manufacturing/Service Industry PMI in the Anglo-American, French and German Eurozone July 25th ● IMF announces July 2023 World Economic Outlook Jul 27 ●Fed announced interest rate decision (02:00) ●Fed Chairman Powell held a monetary policy press conference (02:30) ●The European Central Bank announced the interest rate decision (20:15) ●European Central Bank President Lagarde holds a monetary policy press conference (20:45) ●The initial value of the real GDP annualized quarterly rate in the second quarter of the United States (20:30) July 28th ●United States core PCE price index annual rate in June (20:30) ●Bank of Japan announces interest rate resolution and outlook report (11:00) (Data source: GaryMa)

Odaily Planet Daily News The swap market is fully pricing in a 25 basis point rate hike by the Federal Reserve before its July meeting. (Golden Ten)