Bitcoin quietly fell below the $112,000 mark, and the overall crypto assets market weakened. This decline is mainly due to the adjustment of expectations for an interest rate cut in September. As Harker expressed reluctance to support a rate cut in September, market sentiment gradually turned pessimistic. CME data shows that the probability of a rate cut has dropped to 73.5%, while Kalshi platform has even fallen to 60%.

Even though some politicians are trying to stabilize the market, the effect seems to be not obvious. Investors are closely watching the upcoming Jackson Hole annual meeting, especially the speech by Federal Reserve Chairman Powell. Analysts believe that Powell may maintain a cautious attitude and adhere to data-driven economic decisions rather than providing clear policy guidance. However, if he shows an open attitude towards a rate cut in September, it may inject a dose of confidence into the market.

Currently, the Crypto Assets market is in a sensitive period, and investors need to closely monitor the global economic situation and monetary policy trends. Although there may be fluctuations in the short term, the long-term development prospects of digital assets are still worth looking forward to. In this uncertain market environment, rational analysis and risk management are particularly important.