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Greeks.Live: Market Divided on Whether to Enter Bear Market, Overall Sentiment Still Leans Bearish on Short-Term Trend

2 hours ago

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.
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Federal Reserve Meeting Minutes: Tariffs on Goods Prices Pose Upward Inflationary Pressure

August 21st: The Federal Reserve disclosed the minutes of the July meeting. It was noted that the actual GDP growth in the first half of the year was moderate. The unemployment rate has been continuously low, and consumer price inflation remains relatively high. The slowdown in inflation appears to have come to a halt, with tariffs exerting upward pressure on goods price inflation. After net exports significantly pulled down GDP growth in the first quarter, their contribution turned significantly positive in the second quarter. The actual import of goods and services decreased substantially. This may be due to a large amount of early imports in response to the anticipated tariff increase in the first quarter. In contrast, the decline in goods exports was relatively mild, while service exports continued to increase. (FX168)

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Federal Reserve Meeting Minutes: Officials closely monitoring Stablecoin growth and its related risks post GENIUS Act passage

August 21st, Federal Reserve Meeting Minutes: The officials are keeping a close eye on the growth of stablecoins and the associated risks after the passage of the GENIUS Act. (Associated Press)

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Federal Reserve Meeting Minutes: Majority of Committee Members Believe Inflation Risk Outweighs Employment Risk

On August 21st, the minutes of the Federal Reserve Meeting showed that the majority of committee members considered that the risk of inflation is greater than the risk of employment. (In terms of foreign exchange.)

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Ming Cheng Group to Invest $483 Million to Acquire 4,250 Bitcoins

On August 21st, the Hong Kong-based construction service provider, BuildKing Group, announced that it had signed a Bitcoin purchase agreement to invest $483 million in purchasing 4,250 Bitcoins. (Golden Ten)

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After the Federal Reserve meeting minutes were released, the crypto market experienced a downturn, with Bitcoin dropping below $114,000.

August 21st: Following the release of the Federal Reserve meeting minutes at 2:00, the crypto market witnessed a downturn. Bitcoin fell below $114,000, experiencing a short-term decline of 0.41%. Ethereum also dropped below $4,300, with a short-term decline of 1.35%.

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Fed Meeting Minutes: Market Believes U.S. Economy Still Resilient

August 21st: The minutes of the Federal Reserve's July meeting were released. It was mentioned that the recent stock price hikes and the narrowing of credit spreads suggest that the market believes the overall U.S. economy remains strong. Nevertheless, the financial markets seem to have begun to distinguish among firms based on the scale and quality of their earnings. The valuation of the S&P 500 index remains above its long-term average level mainly because the market is optimistically expecting that large technology companies may gain potential benefits from the further application of artificial intelligence (AI). However, although the valuation of the small-cap stock index has increased during the intermeeting period, it is still below the historical average level. (FXStreet)

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