Crypto Pulse—Trending Topics

Overview Bitcoin's consensus rules have not changed since Taproot activated in November 2021, the longest quiet stretch in its history. Around August 9, that quiet faces its first real stress test. Per the formal BIP-110 specification, the proposal enforces a mandatory signaling period between blocks 961,632 and 963,647, during which blocks that do not signal bit 4 are rejected as invalid by nodes enforcing the rule. One thing needs stating immediately: this is not an approved Bitcoin upgrade. C

Overview The question that consumed all week now has an answer. The US Senate will not vote on the crypto market structure bill before its summer break. CoinDesk reported that multiple individuals following the legislation confirmed there would be no vote on the Digital Asset Market Clarity Act before the recess, with Majority Leader John Thune confirming through a spokesperson that there would not be a vote in August but that there would be one next month. What matters for markets is not the ou

I. Macro & Market Sentiment (Market Data)· BTC price: $64,348 (24h -0.28%) · Funding rate: +0.0019%· Fear & Greed Index: 38 (Fear) (Key Event Preview)· The market awaits the release of non-farm payroll data to confirm expectations of an economic slowdown; Fed's Daly stated that aggressive interest rate measures would be taken if inflation pressures intensify. II. Trading Signals / Hotspots Gold (Major Catalyst)· Spot gold stands above $4,300 per ounce, up $250 this week; the US July ADP employme

Overview When the binding constraint on compute shifts from chips to electricity, the assets that supply the electricity get repriced. On July 31, Westinghouse Electric Company confirmed it had confidentially submitted a draft registration statement for a US initial public offering to the Securities and Exchange Commission. Reuters reported that the nuclear technology and services supplier, jointly owned by Cameco and Brookfield Renewable Partners, was joining a wave of nuclear companies tapping

Overview The navigability of one waterway is currently setting oil prices, equity records and the market's odds on a September Fed hike. On August 5, President Trump said a deal with Iran to reopen the Strait of Hormuz could happen as soon as Wednesday or Thursday, with Treasury Secretary Scott Bessent saying an agreement may be imminent. CNBC's coverage of the day's developments reported that those signals drove oil sharply lower and sent stocks to record levels. The two sides are not telling t

Overview The Federal Reserve's July 29 decision looked like a hold. The vote behind it was the most hawkish of this cycle. The Federal Open Market Committee voted 9 to 3 to keep the federal funds rate at a target range of 3.50% to 3.75%, a fifth consecutive hold, with three regional Fed presidents formally voting to raise by a quarter point. CNBC's coverage of the decision noted this was the first time since September 2016 that three policymakers dissented in favour of a hike. The reason this ke

Overview The most consequential structural change in stablecoins over the past decade is not market cap growth. It is that issuers are being pulled inside bank regulation. Circle completed two steps in three weeks: final approval from the Office of the Comptroller of the Currency on July 10 to establish a national trust bank, followed by a New York Department of Financial Services limited purpose trust charter on July 31. According to Circle's announcement of the final OCC approval, the entity i

Overview The market structure legislation the US crypto industry has waited on for more than a year is now compressed into a window measured in hours. The Senate's scheduled session end date is August 7, and as of this writing on August 6, the Digital Asset Market Clarity Act (H.R. 3633) has not appeared on the Senate agenda and no cloture motion has been filed. CoinDesk, in its rundown of the possible outcomes, reported that the Senate has not indicated whether it will work on the bill, with ju

I. Macro & Market Sentiment(Market Data)· BTC Price: $64,541 (24h +0.39%)· Funding Rate: +0.0073%· Fear & Greed Index: 25 (Extreme Fear)(Key Event Preview)· Trump stated that the US-Iran issue regarding the Strait of Hormuz will yield results within 48 hours, the strait may open on Wednesday or Thursday, and the geopolitical conflict premium faces a reassessment.· The hawkish camp within the Federal Reserve is expanding. Among the 12 regional Fed presidents, 5 have publicly expressed support for

Overview Shares of Londian Wason New Energy Tech Inc. (NYSE: FOIL), the global market leader in electrolytic copper foil for lithium-ion batteries, captured widespread market attention after pricing its initial public offering at $22.00 per American Depositary Share (ADS) to raise $94.3 million on the New York Stock Exchange. The offering marked the largest US listing by a Chinese corporate issuer in over twelve months. However, after surging more than 18% during its opening trading session, the