Last night's data not only confirmed the market's expectation of a 100% interest rate cut this month but also raised concerns about the risk of an economic recession. If a recession is indeed confirmed, it would be much more severe than the interest rate cut, which is negative for the market. However, based on the current data, a recession is far from the reality. But the market behaves this way; it typically panics first and then corrects itself;

Currently, Bitcoin is primarily in a consolidation phase on the 4-hour chart. 110000 is a strong support level, and so far, there have been 4 instances of effective support around 110000. However, if there are no significant positive stimuli in the future, the market will mainly focus on consolidation and adjustment;

As long as the market stabilizes and continues to undergo adjustments, altcoins will be very active. We are currently in the altcoin phase, so pay close attention to CEX altcoins, as the leading projects are performing strongly;

Let’s discuss today’s market highlights:

1. CME 'Federal Reserve Watch': The probability of the Federal Reserve cutting rates by 25 basis points in September is… #ENA #SKY and other teams have put forward their respective proposals. Currently, the SKY team's proposal seems the most appealing;

2. Tether issued USD0 on Xlayer, and the subsequent Xlaunch may lean towards Xlayer. Therefore, in addition to daily volume, pay special attention to OKB;

3. The Treasury company Heritage Distilling has refined its strategy, and the native IP token of Story has reached a historic high;

4. Binance will launch Ethena USDe (USDe), which is of great significance for ENA. The launch of USDe is just the beginning; a real spiral is brewing behind it;

5. SharpLink Gaming (SBET) has slowed down its accumulation speed, having not increased its Ethereum holdings in the past week. Its current holding remains 837230 ETH, consistent with the data observed on September 3;

6. Trump’s Truth Social will allow users to convert rewards into CRO, deeply binding it with CRO, which can also be seen to be performing strongly;

7. The market's attention has been on Binance's Alpha market these past few days, with strong performances in both spot and contract trading. Previously TRB, now MYX, has caused losses for those attempting to short MYX recently. No one knows how the market makers operate, but in the end, it will definitely catch up; it's just a matter of time;

8. There isn't much good narrative on-chain, but CEX is performing well instead, and some altcoins have started to take action, like WLD ENA KAITO, etc.; #AI板块表现突出 #山寨币市场回暖