#IPC
According to The Block, Vincent Liu, the investment director of Kronos Research, stated that due to macroeconomic uncertainty and institutional purchases, the current market exhibits cautious optimism. The fear and greed index leans towards greed, with whale accumulation and expectations of rate cuts pushing traders to reallocate to riskier assets.
Investors are focusing on the U.S. CPI data for July, which will be released on August 12, as a key indicator for the next decision on whether to raise or lower interest rates. Despite the Fed maintaining rates during the July FOMC meeting and Powell's assertion that a rate cut in September still depends on economic data, CME FedWatch data shows that the market anticipates an over 80% probability of a 0.25 percentage point cut.
Furthermore, Liu believes that the SEC's "Crypto Project" could benefit the market in the medium to long term. This project will reduce regulatory uncertainty, stimulate DeFi growth, and enhance market confidence by clarifying token classifications and introducing an exemption mechanism for DeFi innovation.
$ERA
