Bitcoin topped $64,000, and gold tokens rose; the U.S. Treasury Department advanced the GENIUS Act stablecoin rules, and the CFTC solicited opinions on AI computing power futures. The market paid attention to regulatory developments and geopolitical risks.
The market's overall risk appetite rebounded on August 18, with Bitcoin leading the cryptocurrency rally and gold tokens also recording gains, mainly supported by the weakening of the U.S. dollar and geopolitical uncertainty. Weak U.S. retail sales data bolstered bets on the Federal Reserve cutting interest rates, but high real yields limited gold's gains. In terms of regulation, the U.S. Department of the Treasury is advancing stablecoin rules, and the CFTC is soliciting opinions on AI computing power futures, indicating that the regulatory framework is accelerating and improving, which will benefit the industry in the long term.
Cryptocurrency markets had a strong day, with Bitcoin rising 2.6% to $64,535.17 and Ethereum rising 2.02% to $1,913.90. Market sentiment has improved, but Bitcoin options implied volatility remains at seasonally low levels, suggesting the market may be overly optimistic. In terms of regulation, the U.S. Department of the Treasury is advancing the GENIUS Act stablecoin rules, and the CFTC is soliciting opinions on AI computing power futures, indicating that the regulatory framework is accelerating and improving, which will benefit the industry in the long term. Strategy continues to accumulate U.S. dollar reserves rather than increase its holdings of Bitcoin, reflecting the institution’s cautious attitude towards current prices.
Gold tokens XAUT and PAXG rose 1.18% and 1.04% respectively to $4,404.50 and $4,418.31, mainly supported by the weakening of the US dollar and geopolitical uncertainty. However, high real yields and rising oil prices may limit gold's further rebound. Analysts pointed out that gold faces dual resistance from yields and oil prices, and may remain volatile in the short term.
This briefing is generated automatically from public sources for reference only and is not investment advice. Markets carry risk; make your own decisions.
