Small non-farm payrolls exceeded expectations, and the three major U.S. stock indexes and the market fell more than 1%. Data released by the United States today showed that ADP employment in June was 497,000, higher than the expected value of 228,000 and higher than the previous value of 278,000. The ISM non-manufacturing PMI in June was 53.9, higher than the expected value of 51 and higher than the previous value of 50.3. The final value of the Markit services PMI in June was 54.4, higher than the expected 54.1 and higher than the previous value of 54.1. ADP employment, known as "small non-farm employment", significantly exceeded the previous value and expected value, increasing by 497,000 people, the largest increase since February 2022. The service PMI (Purchasing Managers Index) is also significantly ahead of expectations. The Fed views the U.S. economy's resilience as a generally positive feature, having avoided a recession so far, but it has also raised concerns about how long it will take for inflation to fall to its 2% target. After the data was released, the probability of the Federal Reserve raising interest rates in July rose to 93.6%, and the probability of raising interest rates in November rose to 46%. The three major U.S. stock indexes fell sharply after hearing the news, all falling by more than 1%, and the market fell by nearly 1%.

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The European Commission, announcing the first 20 use cases of the European Blockchain Regulatory Sandbox to increase legal certainty for innovative blockchain solutions, will run from 2023 to 2026 and support 20 projects per year. Huang Lexin, head of the Financial Technology Group of the Hong Kong Securities and Exchange Commission: The Securities and Exchange Commission will soon issue a notice to change the view on STO (security token) 4 years ago, or RWA will not be defined as a complex product and have the opportunity to be opened to retail investors; RWA will be supervised based on the underlying assets. For example, if the tokenized asset is a bond, it will be supervised in the form of a bond. BlackRock CEO Larry Fink: Bitcoin is an international asset, and BlackRock hopes to use its influence to reduce its costs and make it easier to invest in cryptocurrencies. Nasdaq resubmits BlackRock’s BTC spot ETF application.

According to CCData data, Bitcoin futures trading volume on the Chicago Mercantile Exchange (CME) hit a record high in June, increasing 28.6% to $37.9 billion. Bitcoin micro futures (MBT) trading reached $702 million, an increase of 21.1%. The total number of BTC contract transactions was 264,323, an increase of 22.7% from the previous month. Yesterday, the amount of ETH burned reached 5,336.77 pieces, a new high since May 25; so far, the cumulative amount of ETH burned has reached 3.4389 million ETH. ARK Invest released its monthly Bitcoin report: In June, BTC that had not moved for at least a year reached an all-time high, accounting for approximately 70% of the circulating supply. BTC holdings on over-the-counter trading platforms reached a one-year high in June, with balances increasing by 60%, indicating that institutions and large fund allocators are paying increasing attention to BTC. Grayscale GBTC’s negative premium rate narrowed to 26.76%.

CZ, CEO of Bn: Bn is preparing for an increase in trading volumes over the coming months and if you look at the historical patterns, we would like to be prepared for higher trading volumes, which have started to recover in recent weeks. Cryptocurrency service provider Matrixport: Based on the average return of signals triggered in 2015, 2019 and 2020, BTC price may increase by +123% in 12 months and +310% in 18 months, making the price within 12 months It rose to $65,539 and to $125,731 in 18 months. BlackRock CEO Larry Fink: Bitcoin, as the largest cryptocurrency by market capitalization, has the role of "digitizing gold." We have a strong track record of working with regulators and work hard to ensure that we take into account all issues surrounding any application (Bitcoin Spot ETF).

Labor and economic data beat expectations on Thursday. On Friday night, more important unemployment and non-agricultural data will be released. The unemployment rate was previously 3.7%, and the expected value was 3.6%; the non-agricultural employment value was 339,000, and the expected value was 225,000. Today's small non-farm payrolls (ADP) significantly exceeded expectations, and Friday night's non-farm payrolls may also exceed expectations. The three obstacles before the Federal Reserve raises interest rates this month are employment, economy, and inflation. Among them, employment and economic data have been disarmed, and they are inclined to raise interest rates more. The only hope is the inflation data next Wednesday, with the previous CPI value of 4% and the previous core CPI value of 5.3%. Not only small non-agricultural workers and PMI, the JOLTs job vacancies, initial unemployment claims, and challenger company layoffs announced tonight are all "good", with each worker corresponding to two positions. Fed's Williams said: The U.S. economy responded "quite well" to interest rate hikes. The probability of the Federal Reserve raising interest rates in November has risen to 46%. The interval is too long and has little reference value.

Recession, or bubble, cannot be seen. Economist Andrew Challenger believes that severe unemployment caused by inflation and interest rates will not become a reality, especially if the Federal Reserve keeps interest rates unchanged. The service industry grew faster than expected in June, but business input price indicators fell to more than three-year lows. Inflation in the closely watched service industry continued to cool, and the economy is still growing slowly. People are worried about recession and interest rate hikes, and one of them is missing, which is what happened in the first half of this year. Wall Street investors who bet on recession in the first half of the year have left the market sadly. The technology stocks closest to the big pie, Bank of America raised Tesla's target price from $225 to $300, with a market value of nearly $1 trillion. The well-known investment bank Wedbush predicts that Microsoft's market value will exceed US$3 trillion early next year (currently US$2.5 trillion), and Apple's market value is expected to rise to US$4 trillion by the end of 2025 (currently US$3 trillion). As a pie that outperforms the technology stock index in the long term, it will not be inferior. In the absence of a recession, what we are still waiting for is the end of the interest rate tightening cycle, the return of funds, and the recovery of the stock and currency markets. This process is full of excitement. #BinanceTournament #feedfeverchallenge