The market continues to decline in the absence of new information, reflecting a pessimistic outlook on the future economy, especially concerns about the interest rate cut in September and whether the U.S. will enter a downturn. The minutes from the Federal Reserve's July meeting indicate that most voting members remain hesitant, with only a few supporting an interest rate cut, but a downward revision of labor data could become a turning point. Trump is pressuring conservative voting member Cook, aiming to increase support for the September interest rate cut through 'killing the chicken to scare the monkey'.

In the cryptocurrency market, $BTC shows signs of rebound, but the momentum is weak, while $ETH has a stronger rebound, indicating that investor buying power is concentrated on ETH. The stability of BTC's price is more due to reduced selling pressure than new buying, with the current support level still solid; it quickly rebounded after hitting a low of $112,200, aligning with the expected bottom of $112,000. Future trends will still depend on the Jackson Hole meeting and Powell's speech. #ETH