Market Observation and Analysis

Recently, an important personnel appointment has attracted market attention. Reports suggest that Stephen Miran, the chairman of the White House Council of Economic Advisers, has been nominated to fill the vacancy on the Federal Reserve Board, with a term lasting until January 2026. Miran has always supported interest rate cuts and advocates for structural reforms at the Federal Reserve, including reducing its bank regulatory powers. Although Miran's term is limited and he may not participate in the FOMC meeting in mid-September, the market still interprets this as a clear signal of a shift towards easing monetary policy.

At the same time, relevant parties are promoting the facilitation of investing in alternative assets like cryptocurrencies through retirement savings plans. Industry experts predict that if crypto assets account for 1% to 10% of related plans, it could lead to an influx of between $80 billion to $800 billion. Analysts believe that this move is significant, marking Bitcoin's official entry into mainstream compliant investment channels and becoming an option in retirement plans. This will not only attract a large amount of stable long-term capital, helping to reduce market volatility, but will also further reinforce Bitcoin's position as a "digital gold" for value storage, while paving the way for other countries to follow suit and for the compliant development of RWA and DeFi.

In the Hong Kong market, several listed companies are actively laying out RWA, driving the rise of related stock prices. Industry analysts point out that companies with RWA tokenization capabilities and strong technical research and development strength will have a greater competitive advantage. These companies can bring traditional assets onto the blockchain through technological innovation, enhancing asset liquidity and optimizing investment portfolios. However, analysts also warn that investors should be cautious of those companies that only chase trends, lack substantial technical investment, and do not have long-term strategic planning, in order to avoid potential risks.

The price of Bitcoin broke through $117,500 today. Market analysis shows that after BTC reached an all-time high in July, it entered a consolidation phase, with the potential interest rate cut by the Federal Reserve in September seen as a positive factor. Data indicates that the overall supply in the range of $110,000 to $116,000 is relatively light, and the market may need more time to accumulate in order to form a new support base. If it cannot break through the resistance at $116,900, it may face the risk of a pullback to $110,000. However, signs such as increased Bitcoin outflows from exchanges and continued buying by large holders indicate a tightening supply, with the risk-reward structure skewed to the upside. If it can break through $119,000, it may initiate a new round of increases.

In terms of Ethereum, the price has also reached a recent new high. Analysts believe that once it breaks through the psychological barrier of $4,000, this level could become a solid support. Some opinions suggest that Ethereum's strong performance indicates that the altcoin market may experience significant gains. Institutional investors' interest in Ethereum is also continuing to increase, with several companies planning large-scale purchases. Against this backdrop, some analysts hold an optimistic view on Ethereum's future price trends.

Overall, the cryptocurrency market is being driven by multiple positive factors, but investors still need to be cautious of short-term volatility risks and pay attention to the breakthrough of key price levels.