Odaily News: US August PPI YoY came in at 5.4%, versus an expected 5.3%; the previous reading was revised from 4.70% to 4.8%.

US August PPI MoM came in at 0.4%, versus an expected 0.40%; the previous reading was revised from 0.00% to 0.1%. (Jinshi)

Odaily News: US initial jobless claims for the week ending September 5 came in at 206,000, versus expectations of 205,000. The previous reading was revised from 206,000 to 207,000. (Jinshi)

Odaily reports that Liquid Network announced on X platform that as of September 10 at 10:00 (UTC), the network has entered a controlled recovery phase. As a precautionary measure, the network has resumed block production but is not yet processing transactions, and is continuously monitoring to confirm full network stability. Blockstream stated that the required Functionary node and bridge node updates have been successfully deployed, and Functionary nodes are now signing and validating blocks as expected. Meanwhile, pegging operations, including PAK-authorized Peg-out, remain paused, and the network is in the final recovery phase, including restoring BTC/LBTC reserves. Liquid Network reminds users to be wary of scammers using this incident to publish fake update websites or messages, and to never transfer funds to unknown channels or disclose private keys or seed phrases.

Odaily News Analyst Killa posted on X platform that in a bull market, downside imbalances formed by strong upward moves are typically not necessarily fully filled, and bottom impact candles have historically often remained partially unfilled. He believes that after the market consolidated for about two months and then rose approximately 27%, accompanied by about $6 billion in short liquidations, there is no inevitable force driving the downside imbalance to be filled.

Killa stated that if referencing a similar pattern from 2022, at most a partial fill could occur, corresponding to Bitcoin testing the low $70,000 range, but this is not a certainty. He believes Bitcoin is unlikely to revisit the $62,600 2x long entry level, nor does he expect a return to his publicly disclosed $65,800 spot average cost. In his judgment, an extreme pullback could reach around the high $69,000 level, while support is more likely to be found in the $73,000–$75,000 range, followed by a continuation of the uptrend toward $85,000. The core point is that the existence of a downside imbalance does not mean the market must fill it.

Odaily reports that Coinbase posted on X that it is partnering with Moov to provide stablecoin infrastructure for small banks and community banks, enabling stablecoin acceptance, settlement, and real-time funding support for over 1,000 banks through these banks' existing technology stacks.

Odaily News: Spark has announced that it will shut down its lending protocol SparkLend on Gnosis Chain on September 14. Once the relevant execution takes effect, all outstanding loans on this instance will immediately become liquidatable. Users need to repay their debts before September 14 to avoid liquidation. This move is intended to reduce Spark's overall risk exposure and eliminate ongoing maintenance costs.

Odaily Report: The European Central Bank raised interest rates by 25 basis points as expected, with the deposit facility rate rising from 2.25% to 2.5%, while the main refinancing rate and marginal lending rate were also raised in tandem to 2.65% and 2.9%, respectively. (Jinshi)

Odaily News: The U.S. Senate announced that a Republican-led subcommittee has formally launched an investigation into OpenAI regarding its response to the July Hugging Face intrusion incident.

It is reported that subcommittee chairman and Republican Senator Josh Hawley stated in a letter to OpenAI CEO Sam Altman on September 9 that OpenAI "redacted many important details" and continued testing after detecting anomalous AI behavior, calling the practice "reckless," and demanded that relevant responses and documents be submitted by October 1. In addition, Democratic Senator Richard Blumenthal also wrote to Sam Altman, requesting an explanation regarding reports that OpenAI's agents more broadly circumvented safeguards. The investigation stems from OpenAI's disclosure that its internally tested models bypassed isolation controls and intruded into some of Hugging Face's systems, after which Anthropic and Meta also reported similar AI agent intrusion incidents. (Reuters)

According to Gate data, international oil prices climbed, with WTI crude oil futures rising 3% to $98.914 per barrel, a new high since May 22; Brent crude oil futures rose 2.53% to $103.766 per barrel, also a new high since May 22.

Odaily News: This week's upcoming U.S. Producer Price Index (PPI) has become a key juncture for determining whether inflation is reaccelerating. Lewis Huang, Chief Analyst at Bitget CFD, pointed out during a livestream that with nonfarm payrolls adding 162,000 jobs and the unemployment rate holding at 4.1%, U.S. demand remains resilient. If core PPI and services prices stay elevated, businesses may pass costs on to consumers, pushing up subsequent CPI and prompting the market to reprice the Fed's policy path of "keeping rates higher for longer."

Lewis Huang further analyzed two scenarios: if PPI comes in above expectations but CPI remains moderate, it means businesses lack pricing power and can only absorb costs by compressing profit margins; if both PPI and CPI exceed expectations simultaneously, it signals that the inflation transmission chain has been reestablished, potentially serving as a catalyst for a stronger dollar and higher Treasury yields. On the trading front, if PPI beats expectations and drives the dollar higher, gold and high-valuation tech stock indices like the Nasdaq 100 may come under pressure; conversely, if PPI falls short of expectations, a weaker dollar would support a rebound in gold and growth-oriented stock indices.

Lewis Huang cautioned that traders should not focus solely on the first wave of market reaction after the data release, but also observe whether PPI is confirmed by CPI, the dollar, and Treasury yields. If the PPI rise is merely a short-term cost shock, the market impact will be limited; if costs continue to pass through to consumers, the market narrative may shift back to "persistent inflation and prolonged high rates."

Odaily reports: Bitcoin News posted on X that the German Ministry of Finance, led by Klingbeil, has proposed a flat 25% capital gains tax on Bitcoin purchased after December 31, 2026, which rises to 26.375% when the solidarity surcharge is included; starting in 2028, trading platforms will withhold and remit the tax. If Bitcoin is transferred to another platform and the cost basis cannot be provided, the 25% tax rate may apply to the entire sale amount rather than just the profit portion. Bitcoin purchased before the deadline will still retain the tax exemption policy after being held for one year; currently, individuals in Germany are not required to pay taxes on Bitcoin sales after holding for 12 months.

Odaily reports: The UK has invested nearly $40 million in SpaceX for satellite services, becoming the first country outside the US to publicly acknowledge the adoption of its military communications service "Starshield." It is reported that the UK Ministry of Defence possesses approximately 1,000 Starshield terminals and 500 Starlink terminals, with the Starshield project costing around £13 million ($17.6 million) and the Starlink project costing £16.5 million. SpaceX's latest quarterly results show that the US government has awarded over $6 billion in multi-year Starshield contracts. (Reuters)