The overall crypto market is under pressure, with Bitcoin falling to $63,479.99; gold tokens rising, with XAUT reporting at $4,394.86; on the macro front, U.S. CPI is in line with expectations, and interest rate cut expectations are rising.
In the past 24 hours, market focus has been on the U.S. CPI data for July. Data showed that the CPI annual rate was 3.4%, in line with expectations, and core inflation was also in line with expectations, alleviating market concerns about runaway inflation. The probability of suspending interest rate hikes in September rose to 60%. The overall crypto market was under pressure, with major currencies generally falling, with Bitcoin falling to $63,479.99, a decrease of 0.6%. Gold tokens performed relatively strongly, with XAUT and PAXG rising 0.45% and 0.48% respectively, reflecting some support from risk aversion. At the macro level, many institutions are making plans in the fields of encryption and traditional finance. Goldman Sachs acquired NEOS to enter Bitcoin ETF, and Fidelity sought Ethereum ETF pledge, showing the continued penetration of traditional finance into crypto assets. At the same time, regulatory dynamics are intensive, with the CFTC issuing a warning on prediction markets, New York City launching an investigation, and multiple states imposing restrictions on encrypted ATMs, increasing industry compliance pressure.
The crypto market was generally weak today, with Bitcoin falling 0.6% to $63,479.99, failing to hold on to $64,000. Ethereum, Solana, BNB, XRP and DOGE all fell to varying degrees, with DOGE falling by 3.41%, indicating a decline in market risk appetite. Although the CPI data was in line with expectations, the crypto market did not rebound significantly, which may have been affected by excessive early gains and profit-taking. In terms of institutions, Goldman Sachs acquired NEOS for US$2.25 billion, directly deployed Bitcoin and Ethereum income ETFs, and competed with BlackRock, showing that traditional financial giants’ interest in crypto assets continues to heat up. Fidelity has applied to add a staking function to the Ethereum ETF. If approved, it will increase the fund's attractiveness. Kraken’s new S&P 500 perpetual product further blurs the boundaries between traditional finance and crypto markets. Wintermute announces $1 billion in AI investment, showing crypto market maker’s expansion into traditional finance. In Hong Kong, HashKey began to distribute the Hong Kong dollar stable currency HKDAP to promote the development of the stable currency ecosystem. Overall, the encryption market is under short-term pressure, but institutional layout and product innovation are still accelerating, and the long-term prospects remain positive.
Gold tokens performed solidly today, with XAUT reporting at $4,394.86, up 0.45%; PAXG reporting at $4,412.56, up 0.48%. Although U.S. CPI was in line with expectations, inflation remained at high levels and geopolitical tensions (such as the situation in Iran) continued, providing support for gold. The rise in gold coins reflects investor demand for safe-haven assets. It should be noted that this data comes from gold tokens XAUT and PAXG, not London gold or COMEX gold futures quotes, but both are usually highly correlated with physical gold prices. Against the backdrop of an overall decline in the crypto market, the gold coin’s rise highlights its value as an alternative safe haven. Gold tokens may continue to benefit if subsequent inflation data or geopolitical risks intensify.
This briefing is generated automatically from public sources for reference only and is not investment advice. Markets carry risk; make your own decisions.
