Gate Daily (September 19): The first XRP ETF in the United States is listed for trading; the UK and the US sign a cooperation agreement on AI, quantum computing, and nuclear energy development.

Bitcoin (BTC) continues its rebound, currently reporting around $117,370 on September 19. The first U.S. spot DOGE and XRP ETF launched, with explosive trading volume reaching $24 million within 90 minutes, five times the first-day trading volume of any previous XRP futures ETF. The U.S. and the U.K. signed a memorandum of understanding on September 18 to jointly develop artificial intelligence, nuclear energy, telecommunications, and Quantum Computing.

Today's Outlook

1. The uncollateralized overnight call rate in Japan was 0.50%.

2. UK August seasonally adjusted retail sales (month-on-month), previous value was 0.6%.

3. Germany's August Producer Price Index (MoM), previous value -0.1%.

4. The UK September CBI Retail Sales Expectations Index, with a previous value of -16.

5. Canada July Retail Sales (MoM), Previous value was 1.5%

6. Bank of Japan Governor Kazuo Ueda holds a monetary policy press conference.

7. The Bank of Japan announces interest rate decision.

Macroeconomic Events & Crypto Hotspots

1. Analysts originally expected a lukewarm debut for the first Spot DOGE and XRP Exchange-Traded Fund (ETF) in the U.S., but traders flocked to it, driving the volume to soar. After its launch on September 18, Bloomberg ETF analyst Eric Balchunas pointed out that the fund performed strongly in its early days, with Rex XRP ETF reaching a trading volume of 24 million dollars within 90 minutes. He noted that this figure is five times the first-day trading volume of any previous XRP futures ETF. This fund's structure is different from the Spot Bitcoin and Ethereum ETFs approved by the SEC. The REX-Osprey fund is a “40 Act” regulated investment company, which allows it to gain approval on a faster timeline.

2. The United States and the United Kingdom signed a memorandum of understanding on September 18 to jointly develop artificial intelligence, nuclear energy, telecommunications, and Quantum Computing for a wide range of applications including space travel, military defense, targeted biomedical drugs, and medical procedures. The memorandum of understanding is not legally binding and will not change any existing agreements between the two countries. It proposes that multiple government departments and agencies from both countries conduct joint research on these emerging technologies. According to the memorandum of understanding, the two countries will establish a working group to develop quantum computing hardware, software, algorithms, and interoperability standards. Quantum Computing has become a topic of great interest in the cryptocurrency community, as sufficiently powerful quantum computers could break modern encryption standards that are critical to cryptography. As part of the technology R&D efforts, the UK and the US will also explore the establishment of 6G mobile telecommunications networks.

Market Trend

1. Latest Bitcoin News: $BTC continues its rebound trend, currently reported at around 117,370 USD, with a liquidation of 75.95 million USD in the past 24 hours, mainly from short positions.

On September 18, the Dow Jones Industrial Average, S&P 500, Nasdaq, and Russell 2000 all reached new highs, a synchronization that has only occurred on 25 other days this century. The Dow Jones Industrial Average rose by 124.10 points, or 0.27%, to 46,142.42 points; the S&P 500 rose by 31.61 points, or 0.48%, to 6,631.96 points; the Nasdaq rose by 209.40 points, or 0.94%, to 22,470.73 points.

(Source: Gate)

3. In the Gate BTC/USDT liquidation map, based on the current 117,380.90 USDT, if it drops to around 116,529 USD, the cumulative long liquidation amount exceeds 482 million USD; if it rises to around 118,900 USD, the cumulative short liquidation amount exceeds 1.62 billion USD. The short liquidation amount is significantly higher than the long, so it is recommended to reasonably control the leverage ratio to avoid triggering large-scale liquidations during market fluctuations.

(Source: Coinglass)

4. In the past 24 hours, BTC Spot inflow was 2.02 billion USD, outflow was 2.06 billion USD, with a net outflow of 0.04 billion USD.

(Source: Coinglass)

5. In the past 24 hours, contracts for $BTC, $ETH, $SOL, $DOGE, $XRP, etc. have seen net outflows leading to trading opportunities.

News Updates

1. REX-Osprey XRP ETF's first-day volume reached $37.7 million, making it the largest first-day trading volume of any listed fund this year.
2. Consensys CEO: MetaMask tokens are coming, and they may arrive “faster than you expect”.
3. The Bank of Canada calls for the establishment of a stablecoin framework in the country to avoid falling behind other nations.
4. EU commissioners pledge to promote pension and cryptocurrency reform within the year
5. Due to the obstruction of Brian Quintenz's nomination, the White House is considering more candidates for CFTC chairman.
6. Kalshi's trading volume this month has reached 1.3 billion USD, surpassing Polymarket.
7. PayPal's stablecoin PYUSD expands to blockchains such as Tron, Avalanche, Sei through LayerZero.
8. The hybrid crypto exchange GRVT has completed a $19 million Series A funding round, led by ZKsync and Further Ventures.
9. Canadian police seized over $56 million in cryptocurrency and shut down the TradeOgre platform.
10. PayPal stablecoin PYUSD launches on Stellar network

X KOL Selected Insights

Phyrex Ni (@Phyrex_Ni): “Today's assignment has become much easier. The most important part of the game has already passed. From the actual situation, it is as expected as yesterday. Although the interest rate meeting lowered the rate by 25 basis points, and the dot plot for 2026 was below expectations, the fact that there will be a 25 basis point cut every time in 2025 is still better than expected. Therefore, after yesterday's downgrade, there was no short-term impact on the fundamentals.”

“The short-term speculation on interest rates has come to a pause. The next round of speculation, or other speculations within the year, should focus more on non-farm data, labor force, and unemployment rate, all of which are key points, especially the unemployment rate. Currently at 4.3%, if it continues to rise, it will increase the possibility of the Federal Reserve continuing to lower interest rates. The neutral unemployment rate given by the Federal Reserve this time is 4.5%, which means that as long as it does not exceed 4.5%, there will not be much pressure on the Federal Reserve. Currently, the CME's expectation for a rate cut by the Federal Reserve in October has already reached over 91%, which is also the reason for the positive sentiment.”

Looking back at the data of Bitcoin, it is true that the turnover rate increased during the interest rate meeting, but it was not very significant, and the main force behind the turnover still comes from short-term holders, while long-term holders remain calm. This is consistent with the changes in BTC over the past few months. At least from what we can see now, the overall sentiment has not worsened. The supporting data is also very stable, indicating that investor sentiment is also very stable, and there is currently no sign of systemic risk; we are temporarily in a completely calm situation, even Trump did not criticize Powell this time. The future market games will likely still revolve around US-China relations and the upcoming game between Trump and the Federal Reserve.