Powell's dove is good, and Japanese stocks hit new highs! But Bitcoin dropped another $60,000, and Ethereum followed suit.

U.S. Federal Reserve (Fed) Chairman Powell made his latest comments last night. He expressed satisfaction with the progress of the decline in inflation over the past year, but still emphasized that he hopes to see more progress (economic data confirms that inflation slow down), there will be more confidence to start cutting interest rates.

Both the latest data and the previous one show that we are back on the path to cooling inflation. We would like to be more confident and see inflation continue to fall to 2% before we start cutting rates.

In addition, Powell also acknowledged that risks to inflation and employment targets "have become more balanced," indicating that the U.S. economy may be approaching a turning point where further inflationary progress will involve a trade-off of rising unemployment.

In fact, in addition to the United States, various countries are now showing signs of slowing inflation, and some central institutions, including the European Central Bank and the Bank of Canada, have also begun to slowly cut interest rates.

US stocks surge

Inspired by Powell’s dovish remarks, the four major US stock indexes all closed higher today (3rd). The S&P 500 index closed above 5,500 points for the first time, and both the S&P 500 index and the Nasdaq index reached new record highs.

• The US stock market Dow Jones rose 162.33 points or 0.41% to close at 39,331.85 points.

• The S&P 500 rose 33.92 points or 0.62% to close at 5,509.01 points. (Rewriting all-time highs for the 32nd time this year)

• Nasdaq rose 149.46 points or 0.84% ​​to close at 18,028.76 points. (Rewriting historical highs for the 22nd time this year)

• Philadelphia Semiconductor rose 67.85 points or 1.24% to close at 5,544.99 points.

Encouraged by the continued record highs in US stocks, the Nikkei Index, which has reached the 40,000 mark, also opened higher today. The Nikkei closed temporarily at 40,425.37 points, up 350 points (0.88%), and the Topix closed at 2,862.38 points, up 0.2%. It is expected to rise for four consecutive trading days.

Bitcoin fell below US$61,000

But back to the cryptocurrency market, not only did Bitcoin not receive incentives, but it continued to decline at 9 o'clock this morning. It once hit US$60,608 before noon. The gains that started last weekend have been fully recovered. Taking.

Ethereum also reached a low of $3,331 at about the same time. This has poured cold water on the market's original desire for a new rebound in July.

Since the market did not have any major events that would obviously cause fluctuations this morning, some people in the community judged: "All the money in the crypto market has been sucked away by the stock market. The US stock S&P 500 has hit a new high for the 32nd time this year. The stock reached the 40,000 mark... and Bitcoin was attracting money."

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