Odaily reported that the market now estimates the probability of a Fed rate hike this month has risen to 50%. U.S. short-term interest rate futures indicate that the probability of a Fed rate hike in July is around 45%, up from 35% earlier on Monday. (Jin Shi)
Federal Reserve Governor Christopher Waller said Monday that if future data indicates inflation remains well above the 2% target, the Fed may need to raise interest rates in the "near term." He described current monetary policy as being at a "crossroads." Waller stated that this direction will be determined by new information, including Tuesday's CPI report, and noted that the Fed is at a stage where it should not be "complacent" if data trends take an unfavorable turn.
"At the current policy level, it is still possible for inflation to gradually fall back to the 2% target," Waller said. "But I am equally concerned about another equally plausible scenario, where data over the coming weeks shows inflation remaining elevated or even continuing to rise. This would require tighter monetary policy in the near term." He specifically expressed concern that recent inflation reports suggest price pressures appear to be broadening across the economy, extending beyond the impact of last year's tariff increases or recent energy cost hikes, potentially reflecting more widespread systemic inflation that would necessitate tighter monetary policy.
Waller added, "If core inflation is hot again this week, the FOMC will have to consider tightening monetary policy in the near term. We need to see inflation data decline persistently over several months to believe that inflation is moving in the right direction." (Jin Shi)
Odaily reported that according to Gate data, spot gold continues to decline, breaking below the $4,000 per ounce mark for the first time since July 1, with an intraday drop of over 2.8%. This comes after U.S. President Trump announced the resumption of sanctions on Iran, and Federal Reserve Governor Waller stated that interest rates may need to be raised in the short term.
Odaily Odaily reports that Federal Reserve Governor Waller stated that if core inflation continues to decline, which remains a reasonable scenario, he will continue to support keeping interest rates unchanged. He expects overall inflation to moderate starting with the inflation data released this week, but will focus on core inflation figures. (Jin Shi)
According to official sources, Solana ecosystem aggregator Jupiter has launched the on-chain physical collectible card trading platform Jupiter Gacha. Each card obtained through drawing is a certified physical graded slab and will be tradable on-chain.
Jupiter states that the product aims to bridge the physical collectibles market with blockchain technology, enabling traditional collectibles to have on-chain liquidity and trading attributes. Jupiter Gacha is currently open for Beta testing.
Odaily reported that according to Lookonchain monitoring, a wallet associated with the US government, which had been dormant for 4 years, suddenly became active and deposited 140.214 Bitcoins, worth approximately $8.79 million, into Coinbase Prime.
According to MSX.COM data, SK Hynix ADR decline once expanded to 9.9%, hitting an intraday low.
Odaily报道 Bitcoin remains above $62,000 despite overall market weakness and heightened tensions between the U.S. and Iran, suggesting that recent selling from "weak hands" may have been exhausted. A renewed inflow into spot crypto ETFs and slowing spot market activity also indicate weakening selling pressure. Some analysts caution that the latest price stability is still primarily driven by speculative futures trading rather than strong spot demand. (CoinDesk).
Odaily: A judge ruled that the settlement agreement between Trump and the IRS is invalid. (Jinshi)
Odaily Odaily reports, citing AXIOS: Trump announced on Monday that the US is restarting its maritime blockade of Iran and will prevent any ships from entering or exiting Iranian ports. He also claimed that the US would charge a "20% fee" for guaranteeing the safe passage of cargo ships, but the details and seriousness of this initiative remain unclear. Due to legal requirements for 24-hour advance notification to ship owners, the newly restarted maritime blockade has not yet taken effect. A US official stated that the US military's Central Command will announce the specific time later on Monday.
Odaily reports that a Bank of America survey shows global portfolio managers' bearish sentiment on the yen has risen to its highest level in approximately four years, as risks related to Japan's fiscal and monetary policy outlook outweigh the authorities' potential to intervene in the currency market.
“Investor bearishness on the yen is the highest since 2022, driven primarily by monetary and fiscal policy risks,” Bank of America strategists Ralf Preusser and Adarsh Sinha wrote in a report on July 10. The survey found that 40% of respondent traders are bearish on the yen due to risks from Japan's fiscal and central bank policies, up from 35% in June. With the narrowing of the US-Japan interest rate differential, 10% of respondents are bullish on the yen, down from 12% in June.
Meanwhile, data from the Commodity Futures Trading Commission (CFTC) shows that net short positions on the yen held by speculative leveraged funds reached their highest level since 2007 as of the end of June.
Odaily Planet Daily News: Amid the escalating situation between the United States and Iran, Bitcoin continues to face pressure, with its price briefly approaching $62,000 as risk assets experience widespread selling pressure. Data shows BTC/USD is declining, and JDK Analysis notes that Bitcoin's current price trend is "very weak," with a large amount of short capital betting on further declines, potentially making the $60,000 area a market focus again.
However, if new spot buying emerges and key support levels hold, a significant number of shorts could face a squeeze. Some traders remain bullish, with trader Roman pointing out that multiple technical indicators, including the current RSI and trading volume, suggest the market may be experiencing downside exhaustion. He believes Bitcoin still has the potential to rebound to the $70,000 to $75,000 range in the future.
Odaily Planet Daily News Google is mounting a competitive offensive against NVIDIA in the AI chip market, attempting to expand the commercial application of its self-developed Tensor Processing Units (TPUs) to challenge NVIDIA's long-standing dominance in the AI computing market.
Google is currently both a significant customer of NVIDIA's AI server chips and is also developing its own AI chip business to compete with and potentially replace NVIDIA's GPUs. Previously, almost all Google TPUs were deployed in its own data centers, with usage available to customers only through Google Cloud rental services.
However, starting this year, Google has changed its strategy, planning to sell TPU chips to emerging cloud service providers (Neoclouds). These new cloud service companies primarily focus on providing AI computing resources and represent a key customer segment driving the demand growth for NVIDIA GPUs.
Analysts believe that this move by Google signifies TPU's transition from internal specialized infrastructure to a broader commercial chip platform. By enticing Neoclouds to adopt TPUs, Google aims to reduce AI companies' reliance on the NVIDIA GPU ecosystem and expand its own influence in the AI infrastructure field.
NVIDIA currently dominates the AI chip market with its CUDA software ecosystem, high-performance GPUs, and vast developer network. As major tech companies like Google, Amazon, and Microsoft continue to advance their self-developed AI chips, competition in the AI computing market is shifting from a single GPU supply model to a diversified chip ecosystem battle. (The Information)
Odaily reported that crypto journalist Eleanor Terrett posted on X, stating that White House Crypto Council Executive Director Patrick Witt said this week will be a "critical week" in the advancement of the US CLARITY Act. As the crypto industry prepares to mark the one-year anniversary of the GENIUS Act becoming law, the construction of the US digital asset regulatory framework has once again become a market focal point.
Patrick Witt stated that US crypto policy is currently at an important stage, and the progress of the CLARITY Act will significantly impact the structure of the digital asset market, the division of regulatory responsibilities, and the future direction of the industry.
Previously, the CLARITY Act was considered one of the key pieces of legislation for establishing comprehensive crypto market regulations in the US, aiming to clarify digital asset classification, regulatory authority, and compliance requirements for market participants.
Market participants believe that substantial progress on the bill could further enhance regulatory certainty for the US crypto industry and influence the future strategies of exchanges, stablecoin issuers, and blockchain enterprises.
Odaily reported that market pricing has almost fully priced in the expectation of at least one rate hike by the Federal Reserve by September, and has fully priced in two rate hikes by the end of March next year. Earlier, Trump announced on social media that the US would reimpose a blockade on Iran and plans to impose a 20% fee on any goods passing through the Strait of Hormuz. (Jin10)
