Bitcoin (BTC) is experiencing a rebound, currently reported at around 111,550 USD. The U.S. SEC and CFTC issued a joint statement announcing coordinated measures for the U.S. spot crypto assets trading. Yunfeng Financial, associated with Jack Ma, announced the purchase of 10,000 Ethereum (ETH), with a total investment cost of 44 million USD. Due to the imminent threat of phishing attacks, 80% of the top WLFI holders have taken profits and cashed out.
Today's Outlook
Australia's second quarter GDP (quarterly rate), previous value was 0.2%
Australia Q2 GDP (annualized), previous value was 1.3%
The S&P Global Services PMI for China in August was previously 52.6.
China's August S&P Global Composite Purchasing Managers' Index, previous value was 50.8
Eurozone July Producer Price Index (year-on-year), previous value was 0.6%
6, The revised value of US July durable goods orders (month-on-month) was -2.8%.
U.S. July JOLTs Job Openings (10,000), previous value was 743.7
European Central Bank President Lagarde delivered a speech.
Reserve Bank of Australia Governor Lowe delivers a speech
St. Louis Fed President James Bullard speaks on the U.S. economy and monetary policy.
Bank of England monetary policy makers attend parliamentary hearing.
Vietnam Independence Day Holiday Market Closure
Macro Events & Crypto Circle Hotspots
The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) stated in a joint announcement that certain Crypto Assets can be traded if they receive approval from these two U.S. market regulatory agencies; the announcement also pointed out that today, registered trading platforms can conduct such business with the permission of these two agencies. The statement also indicated that both are collaborating to promote the trading of certain Spot Crypto Assets products on registered exchanges. The two agencies believe that the designated contract markets registered with the CFTC and the national securities exchanges registered with the SEC can facilitate related trading and have invited relevant entities to contact them to determine the advancement approach. SEC Chairman Paul Atkins stated that market participants should have the right to freely choose trading venues. CFTC acting chair Caroline Pham said that the announcement highlights their shared goal of supporting the growth and development of these markets, and it will not be the last time. The announcement on Tuesday did not mention specific cryptocurrencies, and the regulatory agencies indicated they are ready to communicate on market principles and trading venues.
On September 2nd, according to a notice from Yunfeng Financial, the company's board of directors has approved the purchase of ETH in the open market as reserve assets. As of the announcement date, the group has cumulatively purchased 10,000 ETH in the open market, with a total investment cost (including fees and expenses) of 44 million USD. The funds for this purchase come from the group's internal cash reserves, and the purchased ETH is listed as investment assets in the group's financial statements.
After months of anticipation, World Liberty Financial's WLFI token went live on September 1 and quickly attracted the attention of the entire crypto assets market. According to CoinGlass data, the derivatives trading activity of WLFI surged to over $13 billion within the first 24 hours, second only to Bitcoin, Ethereum, and Solana. Notably, this trading volume was nearly twice that of the third-largest crypto asset by market capitalization, Ripple (XRP). Additionally, its spot trading volume during this period reached $4.7 billion, placing it among the top ten digital assets by trading volume.
Market Trends
Latest news on Bitcoin: $BTC is experiencing a Rebound, currently at around 111,550 USD, with a liquidation of 59.12 million USD in the past 24 hours, mainly from short positions;
The US stock market opened unfavorably in September, declining for two consecutive trading days. The US Court of Appeals ruled that most of President Trump's tariffs are illegal, prompting investors to evaluate the future of tariff policies. On September 2, major tech stocks retreated, and the yield on US 10-year Treasury bonds climbed. The Dow Jones Industrial Average fell by 249.07 points, a decrease of 0.6%, closing at 45,295.81 points; the S&P 500 index dropped by 44.72 points, a decrease of 0.7%, closing at 6,415.54 points; the Nasdaq Composite index fell by 175.92 points, a decrease of 0.8%, closing at 21,279.63 points.
(Source: Gate)
In the Gate BTC/USDT liquidation map, based on the current 111,201.90 USDT, if it drops to around 109,910 USD, the cumulative liquidation amount of long positions exceeds 461 million USD; if it rises to around 112,130 USD, the cumulative liquidation amount of short positions exceeds 402 million USD. The liquidation amount for shorts is significantly lower than for longs, so it is advisable to reasonably control the leverage ratio to avoid triggering large-scale liquidations during market fluctuations.
(Source: CoinGlass)
In the past 24 hours, BTC Spot inflow was 2.5 billion USD, outflow was 2.52 billion USD, resulting in a net outflow of 0.02 billion USD.
(Source: CoinGlass)
In the past 24 hours, contracts such as $ETH, $WLFI, $ADA, $DOGE, and $XRP have seen net outflows, indicating trading opportunities.
News Dynamics
WLFI burned 47 million WLFI from the unlocked vault wallet 6 hours ago.
A certain whale sold 3,819 ETH for approximately 16.37 million USDT 8 hours ago.
Starknet: The network has fully resumed normal operation, and the chain has been rolled back to block height 1962681.
The Ethereum Foundation deposited 10,000 ETH to the CEX 4 hours ago.
The German digital asset custody company Tangany has completed a €10 million Series A financing.
Venus Protocol: The protocol has fully recovered, and the lost funds have been retrieved.
The Ethereum Foundation revealed that it will sell 10,000 ETH to fund research and development, grants, and donations.
The SEC and CFTC join forces to eliminate obstacles for registered companies in Spot Crypto Assets trading.
Yunfeng Financial: Purchase 10,000 ETH, total investment cost 44 million USD
X KOL Selected Insights
Phyrex Ni (@Phyrex_Ni): "After the market opened on September 2, the volatility was quite significant, especially regarding two main concerns in the U.S. stock market. One is Trump's health condition, and the other is the ruling that U.S. tariffs are illegal. Trump's health issue started to gain attention over the weekend, and more and more people are discussing it. Today, Trump spoke out in response to health concerns. Whether there is really a problem, most people probably do not know, as was the case with the previous Biden administration as well. At least today, Trump stepped up, which lessened the voices of doubt. Moreover, Trump's speech was quite fluent, showing no obvious logical errors or stumbling over words. Even his signature expression management was not bad, so after Trump spoke, the U.S. stock market began to see a rebound. Even if it was all an act, Trump was able to pull it off this time and create a rebound."
"The issue of tariffs is indeed more troublesome. When I was writing the weekly report earlier, I focused on tariffs, so I won't elaborate too much during the work. Currently, Trump's team is seeking to appeal to the Supreme Court, and they have given a month of time. If the tariffs really fail, although it may reduce some inflation, it will be a significant blow to Trump's personal credibility and support. For the industries supported by Trump, there will also be a considerable impact. For example, encryption and BTC are likely to suffer from an unwarranted disaster. Now Trump is dragging the U.S. economy to take sides with him. Although it is a bit shameless, it is indeed effective."
Looking at the data of Bitcoin, it is very normal for the turnover rate to rise after the holidays. However, in the afternoon, the price of BTC started to rise. Although there were some fluctuations, the overall trend is good, especially when the US stock market opened and fell for the reasons mentioned above, BTC's trend still remains healthy. Whether it can continue is still to be seen. As for the support, as always mentioned, it is very stable. It is likely that the fluctuations of BTC over the weekend have digested the market's bearish sentiment. In the absence of new clear bearish situations, the pressure on the two support levels is not great. Starting from Wednesday, labor data will gradually appear, and its impact on the market may slowly emerge again.
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Gate Daily (September 3): SEC and CFTC team up to clear obstacles for Spot Crypto Assets trading; Jack Ma's Yunfeng Financial purchases 10,000 ETH.
Bitcoin (BTC) is experiencing a rebound, currently reported at around 111,550 USD. The U.S. SEC and CFTC issued a joint statement announcing coordinated measures for the U.S. spot crypto assets trading. Yunfeng Financial, associated with Jack Ma, announced the purchase of 10,000 Ethereum (ETH), with a total investment cost of 44 million USD. Due to the imminent threat of phishing attacks, 80% of the top WLFI holders have taken profits and cashed out.
Today's Outlook
Australia's second quarter GDP (quarterly rate), previous value was 0.2%
Australia Q2 GDP (annualized), previous value was 1.3%
The S&P Global Services PMI for China in August was previously 52.6.
China's August S&P Global Composite Purchasing Managers' Index, previous value was 50.8
Eurozone July Producer Price Index (year-on-year), previous value was 0.6%
6, The revised value of US July durable goods orders (month-on-month) was -2.8%.
U.S. July JOLTs Job Openings (10,000), previous value was 743.7
European Central Bank President Lagarde delivered a speech.
Reserve Bank of Australia Governor Lowe delivers a speech
St. Louis Fed President James Bullard speaks on the U.S. economy and monetary policy.
Bank of England monetary policy makers attend parliamentary hearing.
Vietnam Independence Day Holiday Market Closure
Macro Events & Crypto Circle Hotspots
On September 2nd, according to a notice from Yunfeng Financial, the company's board of directors has approved the purchase of ETH in the open market as reserve assets. As of the announcement date, the group has cumulatively purchased 10,000 ETH in the open market, with a total investment cost (including fees and expenses) of 44 million USD. The funds for this purchase come from the group's internal cash reserves, and the purchased ETH is listed as investment assets in the group's financial statements.
Market Trends
Latest news on Bitcoin: $BTC is experiencing a Rebound, currently at around 111,550 USD, with a liquidation of 59.12 million USD in the past 24 hours, mainly from short positions;
The US stock market opened unfavorably in September, declining for two consecutive trading days. The US Court of Appeals ruled that most of President Trump's tariffs are illegal, prompting investors to evaluate the future of tariff policies. On September 2, major tech stocks retreated, and the yield on US 10-year Treasury bonds climbed. The Dow Jones Industrial Average fell by 249.07 points, a decrease of 0.6%, closing at 45,295.81 points; the S&P 500 index dropped by 44.72 points, a decrease of 0.7%, closing at 6,415.54 points; the Nasdaq Composite index fell by 175.92 points, a decrease of 0.8%, closing at 21,279.63 points.
(Source: Gate)
(Source: CoinGlass)
(Source: CoinGlass)
News Dynamics
WLFI burned 47 million WLFI from the unlocked vault wallet 6 hours ago.
PumpFun launched the "Project Ascend" update plan, introducing dynamic fee V1 version.
A certain whale sold 3,819 ETH for approximately 16.37 million USDT 8 hours ago.
Starknet: The network has fully resumed normal operation, and the chain has been rolled back to block height 1962681.
The Ethereum Foundation deposited 10,000 ETH to the CEX 4 hours ago.
The German digital asset custody company Tangany has completed a €10 million Series A financing.
Venus Protocol: The protocol has fully recovered, and the lost funds have been retrieved.
The Ethereum Foundation revealed that it will sell 10,000 ETH to fund research and development, grants, and donations.
The SEC and CFTC join forces to eliminate obstacles for registered companies in Spot Crypto Assets trading.
Yunfeng Financial: Purchase 10,000 ETH, total investment cost 44 million USD
X KOL Selected Insights
Phyrex Ni (@Phyrex_Ni): "After the market opened on September 2, the volatility was quite significant, especially regarding two main concerns in the U.S. stock market. One is Trump's health condition, and the other is the ruling that U.S. tariffs are illegal. Trump's health issue started to gain attention over the weekend, and more and more people are discussing it. Today, Trump spoke out in response to health concerns. Whether there is really a problem, most people probably do not know, as was the case with the previous Biden administration as well. At least today, Trump stepped up, which lessened the voices of doubt. Moreover, Trump's speech was quite fluent, showing no obvious logical errors or stumbling over words. Even his signature expression management was not bad, so after Trump spoke, the U.S. stock market began to see a rebound. Even if it was all an act, Trump was able to pull it off this time and create a rebound."
"The issue of tariffs is indeed more troublesome. When I was writing the weekly report earlier, I focused on tariffs, so I won't elaborate too much during the work. Currently, Trump's team is seeking to appeal to the Supreme Court, and they have given a month of time. If the tariffs really fail, although it may reduce some inflation, it will be a significant blow to Trump's personal credibility and support. For the industries supported by Trump, there will also be a considerable impact. For example, encryption and BTC are likely to suffer from an unwarranted disaster. Now Trump is dragging the U.S. economy to take sides with him. Although it is a bit shameless, it is indeed effective."
Looking at the data of Bitcoin, it is very normal for the turnover rate to rise after the holidays. However, in the afternoon, the price of BTC started to rise. Although there were some fluctuations, the overall trend is good, especially when the US stock market opened and fell for the reasons mentioned above, BTC's trend still remains healthy. Whether it can continue is still to be seen. As for the support, as always mentioned, it is very stable. It is likely that the fluctuations of BTC over the weekend have digested the market's bearish sentiment. In the absence of new clear bearish situations, the pressure on the two support levels is not great. Starting from Wednesday, labor data will gradually appear, and its impact on the market may slowly emerge again.