【Crypto Script】
$XAU
The Script Master takes you through the crypto scene｜The SPDR Gold ETF holds about 1017 tons, slightly down from the early month high of 1035 tons but stabilizing, indicating a cooling off of risk-averse capital, though it still remains in a relatively high volatility range. For the crypto market, the short-term outlook leans more bearish: if gold weakens alongside a strengthening dollar and high real interest rates, it will suppress global liquidity, putting pressure on BTC and risk assets.
However, in the mid-term, if the allure of traditional safe-haven assets diminishes, some capital might shift towards the 'digital gold' narrative, providing Bitcoin with ongoing positioning support. Overall, it's a seesaw effect of macro liquidity. We need to keep an eye on the rhythm of changes in the dollar and real interest rates.
The U.S. Congress passed a ban on the Federal Reserve issuing CBDCs, essentially limiting the 'expansion of the national digital currency system.' #美国国会通过法案禁止美联储发行CBDC
In the short term, this reinforces market expectations for privacy and decentralized assets, but it largely remains on a policy signal level, with the actual impact depending on subsequent regulatory details.
$XAU
The Script Master takes you through the crypto scene｜The SPDR Gold ETF holds about 1017 tons, slightly down from the early month high of 1035 tons but stabilizing, indicating a cooling off of risk-averse capital, though it still remains in a relatively high volatility range. For the crypto market, the short-term outlook leans more bearish: if gold weakens alongside a strengthening dollar and high real interest rates, it will suppress global liquidity, putting pressure on BTC and risk assets.
However, in the mid-term, if the allure of traditional safe-haven assets diminishes, some capital might shift towards the 'digital gold' narrative, providing Bitcoin with ongoing positioning support. Overall, it's a seesaw effect of macro liquidity. We need to keep an eye on the rhythm of changes in the dollar and real interest rates.
The U.S. Congress passed a ban on the Federal Reserve issuing CBDCs, essentially limiting the 'expansion of the national digital currency system.' #美国国会通过法案禁止美联储发行CBDC
In the short term, this reinforces market expectations for privacy and decentralized assets, but it largely remains on a policy signal level, with the actual impact depending on subsequent regulatory details.