Bitcoin (BTC) has rebounded and is currently experiencing short-term fluctuations, with a temporary report of around $110,770 on September 5th. Paul Atkins, Chairman of the U.S. SEC, released a regulatory agenda that includes proposed rules which could significantly impact how the agency handles digital assets. Trading firm and market maker Wintermute has urged the U.S. SEC to clarify that network tokens should not be subject to securities regulation. Tom Zschach, Chief Innovation Officer at SWIFT, expressed skepticism about whether Ripple's technology and XRP can meet the standards required by global banks for cross-border settlements.
Today's Outlook
Change in U.S. EIA crude oil inventories (10,000 barrels) (as of 0829), previous value was -239.2
UK July seasonally adjusted retail sales (month-on-month), previous value was 0.9%
Eurozone Q2 GDP final value (quarterly), previous value was 0.1%
Eurozone Q2 GDP Final (Annualized), Previous Value 1.4%
The unemployment rate in the United States for August was 4.2% previously.
The change in seasonally adjusted non-farm payrolls in the United States for August (thousands), with a previous value of 73.
The U.S. August Global Supply Chain Pressure Index, with a previous value of 0.07.
Federal Reserve Chairman Williams spoke at the New York Economic Club.
Chicago Fed Chair Goolsbee delivers a speech
Macro Events & Coin Circle Hotspots
Paul Atkins, the chairman of the U.S. Securities and Exchange Commission (SEC), has released a regulatory agenda that includes proposed rules that could significantly impact the agency's handling of digital assets. The SEC published approximately 20 proposed rules on September 4 as part of its Spring 2025 agenda. While the potential impact of each proposal on the cryptocurrency industry varies, many suggest that the SEC will continue to ease its enforcement approach, establish a safe harbor, and reorganize existing regulations to benefit project development. Atkins stated, "The agenda covers potential rule proposals related to the offering and sale of crypto assets to help clarify the regulatory framework for crypto assets and provide greater certainty to the market."
The trading firm and market maker Wintermute has urged the U.S. Securities and Exchange Commission (SEC) to clarify that internet tokens should not be subject to securities regulation. The company has officially responded to the agency's request for comments and elaborated on this position. Wintermute believes that regulatory certainty is crucial to prevent the misuse of securities laws and to support the ongoing development of the cryptocurrency market. The company warned that without such clarity, innovation and application in the field may face unnecessary obstacles. The rules proposed in the SEC's agenda include "certain exemptions and safe harbors" related to the offering and sale of crypto assets, as well as modifications to the Securities Exchange Act to consider the trading of crypto assets on alternative trading systems and national securities exchanges.
Tom Zschach, Chief Innovation Officer of SWIFT, expressed doubts about whether Ripple's technology and the XRP token can meet the global banking standards for cross-border settlement requirements. His remarks on LinkedIn sparked a new round of debate within the XRP community, which has long viewed Ripple as a challenger to SWIFT's dominance. Zschach stated that some observers believe XRP is a natural bridge for payments, but he questioned whether banks would be willing to outsource settlement finality to an external token. He stated, "The harder question is whether banks are willing to outsource settlement finality to a token that is neither a deposit, nor a regulated currency, and not on their balance sheets. Liquidity is one thing, legal enforceability is another."
Market Trend
Latest news on Bitcoin: $BTC is experiencing short-term fluctuations after a rebound, currently reported at around $110,770, with a liquidation of $53.9 million in the past 24 hours, mainly from long positions;
The S&P 500 Index of the U.S. stock market set a new closing record high on September 5, as weaker-than-expected labor market data boosted the prospects of interest rate cuts, overshadowing a series of disappointing earnings from tech companies. The market is awaiting the key August employment report to be released on September 6. The Dow Jones Industrial Average rose by 350.06 points, or 0.77%, to 45,621.29 points; the S&P 500 Index increased by 53.82 points, or 0.83%, to 6,502.08 points; and the Nasdaq Index climbed by 209.97 points, or 0.98%, to 21,707.69 points.
(Source: Gate)
In the Gate BTC/USDT settlement map, based on the current 111,229.10 USDT, if it drops to around 109,313 USD, the accumulated liquidation amount for long positions exceeds 471 million USD; if it rises to around 111,839 USD, the accumulated liquidation amount for short positions exceeds 344 million USD. The liquidation amount for shorts is significantly higher than that for longs, so it is advisable to reasonably control the leverage ratio to avoid triggering large-scale liquidations during market fluctuations.
(Source: CoinGlass)
In the past 24 hours, BTC spot inflow was 1.6 billion USD, outflow was 1.62 billion USD, with a net outflow of 0.02 billion USD.
(Source: CoinGlass)
In the past 24 hours, contracts such as $ETH, $SOL, $WLFI, $XRP, and $DOGE have seen net outflows leading, presenting trading opportunities.
News Update
Crypto-friendly bank Lead Bank completes $70 million financing with a valuation of $1.47 billion, led by a16z and others.
A participant from an Ethereum ICO staked 150,000 ETH to ETH2 after being inactive for 8 years, amounting to approximately $656 million.
The Stuttgart Stock Exchange has launched the pan-European tokenized asset settlement platform Seturion.
Figma releases Q2 performance report: holds $90.8 million in Bitcoin ETF
The UK regulator has drafted new anti-money laundering rules for crypto companies.
Analyst: REX-Osprey may launch the first Dogecoin ETF as early as next week.
Stripe and Paradigm launch the joint blockchain project Tempo designed specifically for stablecoin payments.
The US SEC has delayed its approval decision for the 21SHARES spot SUI ETF.
BlockSpaceForce and Mainnet Capital launched a crypto hedge fund, targeting a management scale of 100 million dollars.
In August, the monthly spot trading volume of Ethereum on CEX reached approximately 480 billion USD, surpassing Bitcoin for the first time.
The SEC announced an agenda to amend cryptocurrency policies and ease Wall Street regulations.
Mega Matrix submits a $2 billion securities registration statement to advance the DAT strategy.
Fireblocks launches stablecoin payment network
RedStone acquires the DeFi credit rating platform Credora
X KOL Selected Insights
Phyrex Ni (@Phyrex_Ni): "The difficulty of operations on September 5 is continuing to rise. First, the non-farm payroll data was released, and the numbers were exactly as imagined—employment numbers have directly halved compared to last month, indicating that the U.S. labor market is not very healthy. Coupled with the fact that the number of job openings is less than the number of unemployed reported yesterday, it indeed shows that the U.S. economy may be on a downward trend. Although the market expects that interest rate cuts in September will increase, the actual data indicates that economic downturn data may show economic decline. Besides the economic data, there are also unfavorable policies emerging for cryptocurrencies, which is a situation that has occurred for the first time since Trump took office. Mainly, Nasdaq announced that purchasing cryptocurrencies in U.S. stocks can no longer just be approved by the board of directors; it also requires approval from the shareholders' meeting, which increases the complexity for listed companies to purchase Tokens. Overall, however, the impact is not significant; those who need to buy will still buy, at most it will affect the frequency of purchases, but it will not interfere with the total amount bought. So although there are slight negative factors, the impact will not be very large."
Looking at the data for Bitcoin, as the price of BTC declines, the turnover rate is also falling, and investors' interest in trading is starting to weaken. Those who bought the dip yesterday are the biggest sellers today, mainly due to the potential for interest rate cuts and economic downturn, which worries investors more than not cutting rates. The short-term focus of the market is still on Friday's non-farm payrolls. The way to bring the market back up is either tomorrow's labor data being worse or the market expecting a 100% interest rate cut in September, which may not necessarily be good for the economy. However, the support situation is still quite stable, and the sixth support range may need to be adjusted next week.
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Bitcoin (BTC) has been fluctuating in the short term after a rebound, currently reported at around $110,770 on September 5. Paul Atkins, the chairman of the SEC, has released a regulatory agenda that includes proposed rules that could significantly impact the agency's handling of digital assets. Trading firm and market maker Wintermute has urged the SEC to clarify that network tokens should not be subject to securities regulation. Tom Zschach, Chief Innovation Officer of SWIFT, expressed doubts about whether Ripple's technology and the XRP token can meet the global banking standards for cross-border settlements.
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WhatToBuy,WhatToBuy
· 18h ago
Bitcoin (BTC) is experiencing short-term fluctuations after a rebound, currently reported at around $110,770 on September 5. The chair of the U.S. SEC, Paul Atkins, has released a regulatory agenda that includes proposed rules that could significantly impact how the agency handles digital assets. Trading firm and market maker Wintermute has urged the U.S. Securities and Exchange Commission (SEC) to clarify that network tokens should not be subject to securities regulation. SWIFT's Chief Innovation Officer, Tom Zschach, expressed skepticism about whether Ripple's technology and XRP tokens can meet the global banking standards for cross-border settlement.
Gate Daily (September 5): SEC proposes reforms for cryptocurrency broker-dealer; SWIFT CIO questions XRP banking settlement standards.
Bitcoin (BTC) has rebounded and is currently experiencing short-term fluctuations, with a temporary report of around $110,770 on September 5th. Paul Atkins, Chairman of the U.S. SEC, released a regulatory agenda that includes proposed rules which could significantly impact how the agency handles digital assets. Trading firm and market maker Wintermute has urged the U.S. SEC to clarify that network tokens should not be subject to securities regulation. Tom Zschach, Chief Innovation Officer at SWIFT, expressed skepticism about whether Ripple's technology and XRP can meet the standards required by global banks for cross-border settlements.
Today's Outlook
Change in U.S. EIA crude oil inventories (10,000 barrels) (as of 0829), previous value was -239.2
UK July seasonally adjusted retail sales (month-on-month), previous value was 0.9%
Eurozone Q2 GDP final value (quarterly), previous value was 0.1%
Eurozone Q2 GDP Final (Annualized), Previous Value 1.4%
The unemployment rate in the United States for August was 4.2% previously.
The change in seasonally adjusted non-farm payrolls in the United States for August (thousands), with a previous value of 73.
The U.S. August Global Supply Chain Pressure Index, with a previous value of 0.07.
Federal Reserve Chairman Williams spoke at the New York Economic Club.
Chicago Fed Chair Goolsbee delivers a speech
Macro Events & Coin Circle Hotspots
Paul Atkins, the chairman of the U.S. Securities and Exchange Commission (SEC), has released a regulatory agenda that includes proposed rules that could significantly impact the agency's handling of digital assets. The SEC published approximately 20 proposed rules on September 4 as part of its Spring 2025 agenda. While the potential impact of each proposal on the cryptocurrency industry varies, many suggest that the SEC will continue to ease its enforcement approach, establish a safe harbor, and reorganize existing regulations to benefit project development. Atkins stated, "The agenda covers potential rule proposals related to the offering and sale of crypto assets to help clarify the regulatory framework for crypto assets and provide greater certainty to the market."
The trading firm and market maker Wintermute has urged the U.S. Securities and Exchange Commission (SEC) to clarify that internet tokens should not be subject to securities regulation. The company has officially responded to the agency's request for comments and elaborated on this position. Wintermute believes that regulatory certainty is crucial to prevent the misuse of securities laws and to support the ongoing development of the cryptocurrency market. The company warned that without such clarity, innovation and application in the field may face unnecessary obstacles. The rules proposed in the SEC's agenda include "certain exemptions and safe harbors" related to the offering and sale of crypto assets, as well as modifications to the Securities Exchange Act to consider the trading of crypto assets on alternative trading systems and national securities exchanges.
Tom Zschach, Chief Innovation Officer of SWIFT, expressed doubts about whether Ripple's technology and the XRP token can meet the global banking standards for cross-border settlement requirements. His remarks on LinkedIn sparked a new round of debate within the XRP community, which has long viewed Ripple as a challenger to SWIFT's dominance. Zschach stated that some observers believe XRP is a natural bridge for payments, but he questioned whether banks would be willing to outsource settlement finality to an external token. He stated, "The harder question is whether banks are willing to outsource settlement finality to a token that is neither a deposit, nor a regulated currency, and not on their balance sheets. Liquidity is one thing, legal enforceability is another."
Market Trend
Latest news on Bitcoin: $BTC is experiencing short-term fluctuations after a rebound, currently reported at around $110,770, with a liquidation of $53.9 million in the past 24 hours, mainly from long positions;
The S&P 500 Index of the U.S. stock market set a new closing record high on September 5, as weaker-than-expected labor market data boosted the prospects of interest rate cuts, overshadowing a series of disappointing earnings from tech companies. The market is awaiting the key August employment report to be released on September 6. The Dow Jones Industrial Average rose by 350.06 points, or 0.77%, to 45,621.29 points; the S&P 500 Index increased by 53.82 points, or 0.83%, to 6,502.08 points; and the Nasdaq Index climbed by 209.97 points, or 0.98%, to 21,707.69 points.
(Source: Gate)
(Source: CoinGlass)
(Source: CoinGlass)
News Update
Crypto-friendly bank Lead Bank completes $70 million financing with a valuation of $1.47 billion, led by a16z and others.
A participant from an Ethereum ICO staked 150,000 ETH to ETH2 after being inactive for 8 years, amounting to approximately $656 million.
The Stuttgart Stock Exchange has launched the pan-European tokenized asset settlement platform Seturion.
Figma releases Q2 performance report: holds $90.8 million in Bitcoin ETF
The UK regulator has drafted new anti-money laundering rules for crypto companies.
Analyst: REX-Osprey may launch the first Dogecoin ETF as early as next week.
Stripe and Paradigm launch the joint blockchain project Tempo designed specifically for stablecoin payments.
The US SEC has delayed its approval decision for the 21SHARES spot SUI ETF.
BlockSpaceForce and Mainnet Capital launched a crypto hedge fund, targeting a management scale of 100 million dollars.
In August, the monthly spot trading volume of Ethereum on CEX reached approximately 480 billion USD, surpassing Bitcoin for the first time.
The SEC announced an agenda to amend cryptocurrency policies and ease Wall Street regulations.
Mega Matrix submits a $2 billion securities registration statement to advance the DAT strategy.
Fireblocks launches stablecoin payment network
RedStone acquires the DeFi credit rating platform Credora
X KOL Selected Insights
Phyrex Ni (@Phyrex_Ni): "The difficulty of operations on September 5 is continuing to rise. First, the non-farm payroll data was released, and the numbers were exactly as imagined—employment numbers have directly halved compared to last month, indicating that the U.S. labor market is not very healthy. Coupled with the fact that the number of job openings is less than the number of unemployed reported yesterday, it indeed shows that the U.S. economy may be on a downward trend. Although the market expects that interest rate cuts in September will increase, the actual data indicates that economic downturn data may show economic decline. Besides the economic data, there are also unfavorable policies emerging for cryptocurrencies, which is a situation that has occurred for the first time since Trump took office. Mainly, Nasdaq announced that purchasing cryptocurrencies in U.S. stocks can no longer just be approved by the board of directors; it also requires approval from the shareholders' meeting, which increases the complexity for listed companies to purchase Tokens. Overall, however, the impact is not significant; those who need to buy will still buy, at most it will affect the frequency of purchases, but it will not interfere with the total amount bought. So although there are slight negative factors, the impact will not be very large."
Looking at the data for Bitcoin, as the price of BTC declines, the turnover rate is also falling, and investors' interest in trading is starting to weaken. Those who bought the dip yesterday are the biggest sellers today, mainly due to the potential for interest rate cuts and economic downturn, which worries investors more than not cutting rates. The short-term focus of the market is still on Friday's non-farm payrolls. The way to bring the market back up is either tomorrow's labor data being worse or the market expecting a 100% interest rate cut in September, which may not necessarily be good for the economy. However, the support situation is still quite stable, and the sixth support range may need to be adjusted next week.