Recently, the U.S. job market is under pressure, with the long-term unemployment rate climbing to a nearly 20-year high, a phenomenon that has sparked market speculation about the Fed potentially cutting interest rates. Against this backdrop, the Crypto Assets market has also been affected, and Bitcoin is at a critical turning point.

The financial market as a whole is showing an upward trend. The Nasdaq index rose by 0.5%, reaching a new high; the S&P 500 index increased slightly by 0.12%; gold prices surged by 1.3%, hitting a historical high of 3635 dollars/ounce. The crypto assets market is also keeping pace, with Bitcoin and Ethereum rising by 1.2% and 1.3%, respectively.

As the September Fed meeting approaches, market expectations for an interest rate cut are heating up. Currently, the probability of a 25 basis point cut is as high as 89%, while the probability of a 50 basis point cut is 11%. Weak employment data further supports this expectation.

In terms of regulation, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are strengthening their cooperation in the field of Crypto Assets regulation, planning to hold a meeting on September 29 to coordinate relevant matters. Meanwhile, the Senate is also drafting a bill aimed at establishing a joint committee to address regulatory discrepancies to protect innovation and combat fraud.

It is worth noting that multiple institutions and countries are increasing their holdings of Crypto Assets. Among them, El Salvador, Metaplanet, and Tether have increased their holdings of Bitcoin, while Bitmine and SharpLink Gaming have significantly increased their holdings of Ethereum.

Multiple factors are affecting the Crypto Assets market. Barclays predicts three rate cuts in 2025, while Standard Chartered expects a possible 50 basis point cut as early as September. U.S. Treasury bonds and political factors have driven up gold prices, which in turn has strengthened Bitcoin. Additionally, the severe U.S. employment situation is also a significant influencing factor.

The U.S. inflation data to be released this Thursday is highly anticipated, with the Consumer Price Index (CPI) expected to be 2.9% and the Core CPI at 3.1%. Some analysts believe that, in the context of continuous money printing in the U.S., Bitcoin has a long-term bullish outlook.

With the changes in the global economic situation and the adjustments of monetary policies in various countries, the Crypto Assets market may face new opportunities and challenges. Investors should closely monitor various economic indicators and policy trends to make informed investment decisions.