MBA Mortgage Purchase Index for the week ending August 8 in the United States

ADA/USDT.P ADA price failed to consolidate above the upper boundary of the wedge pattern. Now the price is correcting and the correction may continue to the important $1 level from where after local trading the price may show a reaction and head for a second attempt to break the upper boundary of the pattern. The main target in breaking the pattern will be the liquidity zone above the $1.2 level. ↗️ #ADA##$TRUMP Launches Exclusively on Gate Pilot##BTC Back Above $100K##GT Hits ATH##GateioInto11#

Tonight, Fed Chairman Powell will deliver his final speech as chairman at the Jackson Hole Central Bank annual meeting. This speech is regarded as a key indicator of the monetary policy direction during the Powell era, and market participants are closely following it. Considering the current information from various sources, it is expected that Powell is likely to maintain a hawkish stance. It is worth noting that the current monetary policy decisions seem to have transcended simple economic indicators, reflecting more of the political gamesmanship, particularly the struggle between the left and right. Traditionally, Wall Street has had a close relationship with the left, as the left tends to support the free flow of international capital, representing the interests of large corporations, financial elites, and the military-industrial complex. In contrast, the right, especially the MAGA camp, more frequently represents the demands of middle and low-income groups and small to medium-sized enterprises. This political tendency may explain why, as Biden's term is coming to an end and the economy faces challenges, Powell still implemented two large-scale easing policies in an attempt to create the illusion of economic prosperity. However, during Trump's presidency, despite economic indicators showing signs of recovery, Powell maintained a tightening stance. Therefore, the outcome of tonight's speech can be anticipated, and it is likely to maintain a hawkish tone. For short-term traders, this could be an opportunity for speculation. However, for long-term investors, Powell's remarks are no longer as significant. Because regardless of what he states, the next Fed chair is likely to be replaced by a candidate from the MAGA camp. Based on the short-term characteristics of American democratic politics, large-scale money printing may become an inevitable choice in the future. In this case, the proliferation of fiat currency may further highlight the scarcity and value of cryptocurrencies like Bitcoin, driving their prices to continue rising. Regardless, tonight's Jackson Hole meeting will be an important window to observe the direction of American monetary policy and the political-economic landscape.

The latest market data shows that the price of Bitcoin (BTC) is currently hovering around 113,000, with a slight pullback of 0.71% today, indicating some signs of weakness. From a technical analysis perspective, adjustments may continue in the short term. Investors need to closely follow the important support level of 112,000; if it falls below this level, it may further dip to 111,000. For investors looking to build a position, it is recommended to patiently wait until the price rebounds above 113,800 before considering getting on board, as this can enhance safety. Ethereum (ETH) has slightly outperformed Bitcoin, only falling by 0.17%, with the current price around 4,285. Its key support level is at 4,200; as long as this level can be maintained, the overall trend can remain stable. For investors optimistic about Ethereum, it may be worth considering a small-scale Build a Position near 4,200. If a Rebound occurs, the target can be set in the range of 4,320 to 4,350. Overall, the current cryptocurrency market is still in a correction phase. It is advised for investors to remain cautious and not be overly aggressive. A reasonable strategy is to retain some capital and wait for the market to stabilize before making decisions. Pay close attention to Bitcoin's support level at 112,000 and Ethereum's support level at 4,200; the performance of these two key levels will have an important impact on the short-term trend.

Recently, investors in the Crypto Assets market have been closely following potential interest rate cut news. However, since June, the expectations for a rate cut have not been realized, and opposing voices seem to dominate. This capricious situation inevitably brings to mind the scene of "changing one's mind frequently." From the market performance perspective, Bitcoin has shown a downward trend since its high of 120,000 USD, currently down by about 10,000 points. In the short term, the market is in a state of fluctuation. From a technical analysis standpoint, the resistance level of 1,146 USD on the daily chart has not yet been broken, so the bearish trend may continue to dominate the market. However, the market's volatility precisely provides opportunities for investors. As the saying goes, "The bigger the storm, the more expensive the fish," for experienced investors, this may be a rare entry point. It is worth noting that the recent data on the number of initial unemployment claims in the United States may also have an impact on the market. In addition, the BNB coin has reached a new high, indicating a trend of differentiation within the Crypto Assets market. In such a complex and ever-changing market environment, investors need to remain calm, carefully analyze various influencing factors, and make wise investment decisions. Regardless of how the market changes, maintaining rationality and patience is always the key to successful investing.

Bitcoin Finance (BTCFi) is迎来前所未有的发展机遇. With the acceleration of traditional financial institutions' adoption of Bitcoin, a Layer 2 solution based on BitVM technology, Bitlayer, has emerged, bringing new vitality to the BTCFi ecosystem. Bitlayer, as a pioneer of BitVM technology, effectively enhances the liquidity of Bitcoin through innovative cross-chain bridge technology. Data shows that its Total Value Locked (TVL) has grown by 540% over the past year, reaching $433 million, fully reflecting the market's confidence in this technology. The expansion rate of the BTCFi market is remarkable. It has rapidly grown from $307 million in early 2024 to $6.6 billion by February 2025, and it is expected to soon surpass the $100 billion mark. This growth trend is closely linked to the increasing attention that financial institutions are paying to Bitcoin. Currently, publicly listed companies hold about 847,000 Bitcoins, valued at approximately $91 billion. The U.S. spot Bitcoin ETF manages 1.3 million Bitcoins. Notably, over 30% of circulating Bitcoins are held by centralized entities, including exchanges, ETFs, corporate finance departments, and sovereign funds. At the same time, over 60% of Fortune 500 companies have adopted blockchain technology, and these institutions are seeking compliant yield opportunities. From the perspective of market potential, if BTCFi can capture 10% of Bitcoin's $1.3 trillion market cap, it could achieve $130 billion in liquidity. Additionally, if institutional ETF funds (about 1.3 million BTC) seek a 3-5% return, it could bring in a potential funding pool of $40-65 billion. As the Bitcoin ecosystem continues to evolve, the importance of Layer 2 solutions such as Bitlayer is becoming increasingly prominent. These innovations are opening up new application scenarios for Bitcoin, making it not only a means of storing value but also the foundation of a vibrant financial ecosystem.