Monetary Policy

In the early hours of August 20 Beijing time, data released by the U.S. Treasury showed that total federal government debt had officially surpassed the $40 trillion mark, reaching $40.05 trillion. During nearly the same time window, Gate market data showed that Bitcoin had returned above $70k for the first time since June 2, reaching a high of $70,055.2, with a 24-hour gain of 8.47%. Source: Gate market data This is not simply a market coincidence. For a long time,

On August 4, Russian President Putin signed the “Law on Digital Currency and Digital Rights,” the main provisions of which take effect on September 1. Retail investors will not be able to purchase more than 300 thousand rubles (approximately $3.6 thousand) worth of cryptocurrency per year through a single licensed intermediary in Russia, while a Bank of Russia draft will limit eligible assets to bitcoin, ether, and USDT. At the same time, Bank of Russia data shows that during the first seven mon

According to Gate market data, Bitcoin surged rapidly during the U.S. trading session on Aug. 19, reaching $69,330 on Aug. 20. Its intraday high was $69,713, while its market cap rose to approximately $1.4 trillion, marking a nearly two-month high. CoinGlass data showed that total liquidations amounted to approximately $2.98 billion over 24 hours, including approximately $2.74 billion in short liquidations and approximately $1.42 billion in Bitcoin short liquidations. U.S. Treasury: Per-Operatio

U.S. Office of the Comptroller of the Currency (OCC) Comptroller Jonathan Gould said at the Wyoming Blockchain Symposium on Aug. 19 that the OCC will release its final rules for payment stablecoins by November and expects regulators to begin accepting applications from stablecoin issuers as early as 2027. Gould’s statement provided an update on the progress of the OCC’s 376-page notice of proposed rulemaking (NPRM), released in February. Background on the OCC’s GENIUS Act Rule Proposal In Februa

Bitcoin (BTC) has staged a sharp rebound, trading at around $69,380 as of Aug. 20. Trump urged Congress to advance the CLARITY Act at a White House crypto event, saying it would put the United States ahead of all other countries. Trump also said at the White House crypto meeting that the United States had discussed plans to accumulate large amounts of Bitcoin and other cryptocurrencies. Macro Events & Crypto Market Highlights CoinDesk reported that Trump urged Congress to advance the CLARITY Act

Bitcoin surged more than 6% on Wednesday, climbing toward $69,000 and trading as high as about $68,776 after starting the session near $64,100. The rally was driven by lower Treasury yields, a weaker dollar, and renewed institutional demand as the market awaited the Federal Reserve's July meeting

According to BlockBeats, on August 19, rate options traders shifted positioning to bet on Federal Reserve rate cuts in 2027 as U.S. economic data weakened. The markets showed traders unwinding bets on September and December rate hikes, with three major prediction markets—Polymarket, Kalshi, and

Bitcoin (BTC) slightly pared back its overnight gains in the short term, trading at around $64,520 on Aug. 19. The U.S. Securities and Exchange Commission (SEC) proposed new cryptocurrency issuance rules, including two financing exemptions and a safe harbor provision. The Financial Accounting Standards Board (FASB) proposed treating qualifying stablecoins as “cash equivalents.” Macro Events & Crypto Hotspots The Block reported that the U.S. Securities and Exchange Commission (SEC) proposed a new

Bitcoin traded around $64,570 on August 19 and has continued moving sideways since June. U.S.-listed spot Bitcoin ETFs recorded net inflows of more than $137 million on August 18, temporarily easing the decline. The U.S. 30-year Treasury yield has risen to its highest level since 2002, while the U.S. budget deficit has widened to $1.8 trillion so far in FY2026, putting pressure on both stock and crypto markets. Capital Flows into U.S. Spot Bitcoin ETFs U.S.-listed spot Bitcoin ETFs recorded net

Bitcoin traded near $64,738 on Tuesday, Aug. 18 at 12:10 p.m. EDT, with U.S. spot bitcoin exchange-traded funds recording roughly $5.4 billion in net outflows during the first half of 2026 while Strategy sold BTC on three separate occasions this year. The price level represents roughly half of Bitco

Gate News message, the crypto market Fear & Greed Index has climbed to 41, marking its highest level in 97 days. Bitcoin has recovered above $64,000, while ETF inflows have returned following months of outflows. Expectations for a September Federal Reserve rate hike have eased during this

On August 18, 2026, Gate market data showed Brent crude at $89.16 per barrel, up approximately 5% for the week; WTI crude was at $84.09 per barrel, up 3.06% over the past 24 hours. Since the beginning of 2026, international oil prices have risen by more than 75% cumulatively, with geopolitical risk premiums becoming the key driver of prices, rather than traditional supply-and-demand fundamentals. Source: Gate 行情数据 On August 18, Gate mark

In August 2026, the core legislation of the U.S. crypto market regulatory framework, the Digital Asset Market Clarity Act (CLARITY Act), is facing unprecedented uncertainty. According to data from Gate’s event market, the probability of the bill being signed into law in 2026 has plunged from its February 19 peak of 82% to approximately 20%. Galaxy Digital’s research division is even more pessimistic, lowering the figure to 10%. How has the market’s pricing logic reversed from “almost certain” to

Goldman Sachs Chief Economist Jan Hatzius assessed in a recent client research report that a Fed rate hike in September is “extremely unlikely,” citing the simultaneous shift in three data trends: weak retail sales, weakening employment data, and cooling inflation. CME FedWatch data showed that, as of August 18, traders were pricing in only a 30.6% chance of the Fed raising rates by 25 bps (one quarter-point) in September. Key Arguments in Goldman Sachs’ Jan Hatzius Report According to Bloomberg

Bitcoin (BTC) has seen a slight rebound, temporarily trading at around $64,310 on August 18. According to an official press release issued by the U.S. Department of the Treasury, the Treasury has issued a Notice of Proposed Rulemaking under the GENIUS Act, seeking public comment on regulations governing the issuance, provision, and sale of payment stablecoins in the United States. The Office of the Comptroller of the Currency conditionally approved Trump family-backed World Liberty Financial’s a

Bitcoin rebounded to around $64,360 on August 18, driven by macroeconomic conditions, including a rise to 69% in the market-implied probability that the Fed will leave interest rates unchanged in September. Meanwhile, the 2-year U.S. Treasury yield has fallen by approximately 20 bps since July 23. BTSE COO Jeff Mei said ETF outflows last week caused early weakness in Bitcoin and Ethereum, while noting that traders still favor AI stocks. Details of Four U.S. Macro Data Releases A few weeks ago, t

According to Goldman Sachs Chief Economist Jan Hatzius, the probability of a Federal Reserve interest rate hike in September is very low, citing weakening U.S. retail sales, softening employment data, and declining inflation as key factors reducing the likelihood of further tightening. Hatzius

According to Goldman Sachs, the U.S. Federal Reserve is very unlikely to raise interest rates in September on August 17, citing weak retail sales, soft employment data, and easing inflation. Chief Economist Jan Hatzius noted that inflation is more likely to continue improving than deteriorating as t

On August 17, 2026, the latest report released by CryptoRank Research showed that the total stablecoin market cap in July was approximately $308.3 billion, down about 1% from June and remaining within the $300 billion–$320 billion range for 10 consecutive months. More notably, approximately $13.3 billion flowed out cumulatively from May through July, marking the longest sustained period of net stablecoin outflows since 2022–2023. As the “cash layer” of the crypto ecosystem, the continued contrac