The Japanese yen has declined for two consecutive weeks, approaching the 160 threshold, and foreign exchange intervention risks are resurfacing.

Goldman Sachs Asset Management said in a report that it still does not expect the Federal Reserve to enter a sustained interest rate hike cycle. The firm noted: "We believe tariff and energy-related price pressures may subside, there are almost no signs of economic overheating, and inflation expectations remain anchored." The Federal Reserve's dot plot from last week's meeting signals one additional rate hike this year. According to LSEG data, money market pricing implies a cumulative 37 basis points of rate hikes across the Fed's remaining two meetings this year.

On-chain analyst Ai Yi (@ai_9684xtpa) wrote that Bankless co-founder David Hoffman is among the standout traders in the current market cycle. Hoffman liquidated his entire ETH position in May and reallocated funds to VVV, NEAR, ZEC, HYPE, and LIT in June. To date, four of the assets he disclosed purchasing have posted sharp gains, with LIT leading at a 293% increase. Specific entry costs and current returns are as follows: NEAR: ~$1.4 entry, up ~223%; ZEC: ~$560 entry, up ~173%; HYPE: ~$45 entry, up ~106%; LIT: ~$1.35 entry, up ~293%; VVV: entry cost undisclosed. Hoffman reiterated his bullish outlook on ZEC and NEAR earlier today. He stated, “ZEC in 2026 is what ETH was in 2021,” adding that if ZEC’s narrative can convince some Bitcoin holders, its price could continue to climb. He also labeled NEAR a “new consensus anchor for smart contracts,” noting its buying pressure is likely driven primarily by retail investors, though the token is also on an upward trajectory.

According to GMGN data monitoring, the Solana-based meme coin RuneScape Gold (GP) briefly broke through $30 million in market capitalization, hitting an all-time high, and is now trading at $27.4 million, with a 24-hour increase of over 101%. GP is themed around the in-game gold of classic game *RuneScape*, paired with tokenized gold GLDx. Each GP transfer charges a 3% tax; accumulated fees are regularly converted by StonkFun and distributed proportionally to eligible holders in the form of GLDx, forming a mechanism of "earning gold price exposure rewards by holding tokens". It is a high-volatility meme asset that combines nostalgic game narratives, transaction tax dividends, and the concept of tokenized gold. BlockBeats reminds users that most meme coins have no practical use cases, experience significant price volatility, and require caution when investing.

According to TradingBeats' monitoring, Hyperliquid address 0x4e23 liquidated all 178,800 HYPE long positions in batches this morning, worth approximately $16.45 million, with a loss of around $250,000. After the liquidation, the address only holds roughly 375 spot HYPE and 10,100 staked HYPE for defense, having temporarily removed its leveraged exposure. Currently, it still has buy orders worth about $6.38 million placed at the $87-$89 level, and sell orders totaling around $13.71 million at the $98-$101 level. Previously, the address went long on HYPE last night and exited all positions this morning; both of its recent two attempts to chase the rally ended in losses. The address also previously recovered most of its losses on SPCX US stock trades by repeatedly adjusting its position direction in a similar manner.

Well-known trader Doctor Profit stated that he has increased his Bitcoin short position to $13 million, expecting BTC to undergo a correction targeting $79,000. He will decide on his next moves based on price performance once Bitcoin hits that level, and emphasized that this short position does not reflect a bearish outlook on Bitcoin’s long-term trend. The trader believes Bitcoin’s bear market has ended, and the current pullback is merely a phase adjustment within the ongoing bull run; once the correction concludes, Bitcoin’s bull market will continue.

Financial investment data firm PitchBook’s latest 46-page report has valued prediction market platform Kalshi, projecting a base-case valuation of roughly $30.4 billion, a high-case valuation of up to $42.1 billion, and a bear-case valuation of $22.8 billion. Kalshi closed a $1 billion Series F funding round in May this year, with a post-money valuation of $22 billion. PitchBook forecasts Kalshi’s revenue will hit $6.4 billion by 2030, with adjusted profit reaching $3.7 billion, adding that its partnerships with platforms like Robinhood and Susquehanna, plus market makers, will help solidify its market share. However, regulatory risks in the sports prediction market remain a key variable weighing on Kalshi’s valuation. PitchBook data shows the sports segment currently contributes around 69.9% of Kalshi’s event fee revenue; when including "exotic" products such as multi-event parlays, that share rises to 82.4%. Multiple U.S. states and Native American tribes have filed lawsuits challenging the legality of Kalshi’s sports prediction products, with related cases creating splits among federal appeals courts; the U.S. Supreme Court is expected to take up the matter next year. PitchBook notes that even if the final ruling is unfavorable to Kalshi, the firm could adjust its business model by securing state-level licenses and expanding non-sports prediction products, though a sharp decline in sports revenue would still significantly impact its growth outlook.