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Ether has struggled to break out of its long-standing trading range, with hedge fund short positioning playing a key role in capping its price movement, according to analysts.Despite strong trading volume and recent surges in activity, structural weaknesses and competition from alternative networks have left ether vulnerable to ongoing bearish sentiment, an analyst said.
Federal Reserve Chair Powell’s testimony on February 11 will provide critical insights into monetary policy, potentially affecting market sentiment. The U.S. Consumer Price Index (CPI) report on February 12 will influence expectations regarding interest rate cuts and crypto price movements. Bitcoin remains in a narrow range between $95,000 and $100,000 as traders await economic data that could trigger significant volatility.
Quick Take Commodity Futures Trading Commission (CFTC) Commissioner Summer K. Mersinger said that election event contracts on platforms like Kalshi are “here to stay.” Mersinger’s comments come after the CFTC clashed with Kalshi over whether the platform’s contracts over election results could lead to political interference. In September 2024, a federal judge ruled that the CFTC overstepped its authority in attempting to block Kalshi from listing these contracts.
Quick Take Donald Trump-backed World Liberty Financial is forming a strategic token reserve meant to “to bolster leading projects like Bitcoin, Ethereum and other cryptocurrencies that are at the forefront of reshaping global finance.” The DeFi platform’s reserve, dubbed Macro Strategy, will serve to help World Liberty Financial diversify its holdings, according to an announcement. World Liberty Financial also said it is “engaging” with financial institutions in the hopes they will contribute tokenized ass
Quick Take U.S. President Donald Trump plans to tap Brian Quintenz, head of global policy at a16z crypto, to chair the agency. Quintenz served as a commissioner of the CFTC from 2017 to 2021.
- 20:24All Three Major U.S. Stock Indexes Close LowerAccording to Jinse Finance, all three major U.S. stock indexes closed lower, with the Dow Jones down 0.94%, the Nasdaq down 0.92%, and the S&P 500 down 0.79%. Shares of Japanese and South Korean companies listed in the U.S. declined, with Nissan Motor falling over 7%, Toyota Motor nearly 4%, South Korea’s SK Telecom over 7%, and LG Display over 8%. Most major tech stocks also dropped, with Tesla down more than 6%, and Apple and Google both down over 1%.
- 19:28Sources: EU seeks agreement with US to offset automotive trade imbalanceAccording to a report by Jinse Finance, EU sources revealed that the European Union is exploring a potential automotive agreement to offset the imbalance between U.S. automobile exports and imports. The EU may secure basic tariff exemptions for aircraft and spirits in its trade agreement with the United States.
- 18:13Goldman Sachs: The Fed May Cut Interest Rates in SeptemberAccording to a report by Jinse Finance, Goldman Sachs stated that the Federal Reserve may cut interest rates in September. As the impact of tariffs diminishes and inflation recedes, the Fed could move up its timeline for rate cuts. The terminal rate range is now expected to be 3.00-3.25%, compared to the previous forecast of 3.50%-3.75%.