Capital Economics: Market Overestimating Fed Rate Cut Prospects, US Short-Term Rates Face Upside Risk

August 21st. Rekt Drinks' limited edition "Based Lime" flavored sparkling water, which was launched in collaboration with Base, started its pre-sale at 12:00 a.m. tonight and was sold out in just 1 minute. A total of 833 cases were sold worldwide, with each case containing 24 cans. Cryptocurrency payment was accepted, and each case was priced at $69.69 plus shipping. Rekt Drinks is an innovative brand project that integrates Web3 technology with physical consumer goods. It originated from the Rektguy NFT project on the Ethereum blockchain. In 2023, the Rekt team introduced Rekt Drinks, a non-alcoholic and caffeine-free flavored sparkling water. Their flagship product, "Liquidated Lime," has sold more than 600,000 cans worldwide and is available in 32 countries. In June 2025, Rekt Drinks entered some 7-Eleven stores in Southern California, marking its first move from online to offline retail.

On August 21st, the Winklevoss brothers, who are the co-founders of the U.S. cryptocurrency exchange Gemini, announced that they have donated Bitcoin worth $21 million, approximately 188.4547 BTC, to the Digital Freedom Fund Political Action Committee (PAC). The Winklevoss brothers stated that since Trump took office, not only has he fulfilled the promises made during the election but has also exceeded expectations. They hope that this unprecedented progress and momentum can continue to support President Trump and his administration in leading the United States into a golden age. The Digital Freedom Fund will focus on the following: Winning the midterm elections by identifying and supporting candidates in the primaries and midterm elections who advocate for President Trump's cryptocurrency agenda; Advocating for well-thought-out market structure legislation that enhances the freedom for the cryptocurrency industry to thrive and avoids excessive regulation and cumbersome licensing re

On August 21st, the Chairman of the U.S. Securities and Exchange Commission (SEC), Paul Atkins, stated that the SEC has established an account on Truth Social, a social media platform founded by former President Donald Trump. Trump announced the establishment of the social platform Truth Social in October 2021. It was developed by the Trump Media & Technology Group in an attempt to challenge mainstream social media platforms like Facebook and Twitter, which had banned Trump.

On August 20th, Greeks.Live released the daily market brief, suggesting that the overall market sentiment still tends towards short-term bearish trends. The majority of traders are concentrating on the support range between $110,000 and $108,000, and they believe that this low level may be reached. There is a divergence in the market regarding whether we are entering a bear market. Some community members think that if the price continues to decline next Monday, it will confirm the arrival of a bear market. Mid-September to October is regarded as a potential rebound period. It is expected that a rate cut policy could lead to a market turnaround. From a technical perspective, the BTC weekly MACD is facing the risk of a bearish crossover, similar to the market situation in December last year. The expected adjustment period is around one month.

On August 20th, based on market data, the three major U.S. stock indexes rebounded during the trading day. The Dow turned positive, and the decline of the Nasdaq narrowed to approximately 1.2%. Previously, it had fallen by nearly 2%. The S&P 500 index is currently down by around 0.5%, having previously dropped by more than 1%.