U.S. Department of Energy: To Release Up to 40 Million Barrels of Oil From the Strategic Petroleum Reserve

Well-known trader Doctor Profit announced he has closed out his HBAR position for a small profit. The breakout appears to be a false one, and holding such assets while Bitcoin is hovering around $79,000 is too risky. He has exited the trade, though he will continue monitoring it over the coming weeks to seek better entry opportunities.

Fed Governor Barr said that further interest rate hikes may be needed. The trend of inflation returning to the 2% target in a timely manner is not obvious, and risks to achieving the inflation target have increased.

Renowned trader and chart analyst Peter Brandt, who accurately predicted the 2018 Bitcoin crash, stated, "We have likely already seen the cycle low and are now entering a new Bitcoin bull cycle." However, Brandt noted this does not mean the market will avoid a sharp pullback first. He is monitoring the possibility of a correction to the $65,000–$66,000 range in early October. Brandt said: "Of course, there’s a risk that too many people are chasing the rally now. They’ve already bought into the idea that Bitcoin’s low is in and are piling into this upward move." He believes a pullback could wash out these late buyers chasing gains, while also offering investors an opportunity to build positions. Brandt also raised his forecast for Bitcoin’s next cycle top, revising his end-2029 target range from the $250,000–$300,000 he set in July this year to $300,000–$600,000. He added: "This bull cycle is very likely to hit $500,000." In Brandt’s view, it’s not impossible for Bitcoin to reach $1 million by 2030, but even if that target isn’t met, it won’t affect his trading logic. Brandt also said he hasn’t deployed all the funds he plans to allocate to Bitcoin into the market yet. If Bitcoin hits his expected high by 2029, he believes allocating just 70% of his capital to the market and capturing 70% of the rally’s gains would be sufficient.

OpenAI's CEO stated that there is no current IPO timeline.

European Central Bank (ECB) Governing Council member De Marco said it does not rule out a rate hike in October.

Aztec Labs has relaunched zk.money, a self-custodial wallet for private crypto payments, three years after discontinuing its original product. The new version runs on the Aztec Network. Aztec said Tuesday that unlike standard Ethereum wallets, zk.money does not disclose users’ balances, payment amounts, or transaction counterparties on the public ledger.