Global economic turmoil triggers Fluctuation in the crypto market, RWA track continues to heat up

Recently, the global macroeconomic and policy landscape has been turbulent. The U.S. non-farm payroll data for July was significantly below expectations, causing market upheaval. This data not only led to Trump firing the head of the Bureau of Labor Statistics but also intensified doubts about the reliability of federal economic data. Meanwhile, Fed Governor Quarles unexpectedly resigned, creating an opportunity for a new governor who may support interest rate cuts, and market expectations for a rate cut in September have thus risen significantly.

These factors, combined with the pressure from the new tariff policy and OPEC+ production increases, have led to global risk assets being under pressure. Market analysis indicates that although the earnings reports of large tech companies are strong, their stock price reactions have been tepid, and small-cap stocks have faced significant declines, with a severe lack of market breadth and a clear shift of funds towards safe-haven assets. New York Fed President Williams believes that the labor market is cooling moderately but remains robust, and he holds an open yet cautious attitude towards a rate cut in September. However, the market generally believes that the Federal Reserve is facing a dilemma between rising inflation and a weakening labor market, with the risk of policy missteps re-emerging.

In the Asia-Pacific region, the RWA sector is developing rapidly. The world's first RWA registration platform is about to be launched, aiming to provide a full-process service for the tokenization of physical assets. Industry analysis believes that the launch of this platform is a key step in Hong Kong's regulatory innovation in the RWA field, which will help enhance market compliance and transparency. The strong confidence of the capital market in the RWA sector will further drive the research and development of relevant technologies and commercial applications, injecting new momentum into the digital economy development of the Asia-Pacific region.

The price of Bitcoin dropped below $112,000 over the weekend but has currently rebounded to above $114,000. Market analysis indicates that the price drop below $112,000 is related to the weakness in the US labor market and may signal a significant change in market trends. Some analysts have warned that if it cannot return to $116,000, the price may further decline to $104,000. However, there are also views that the range between $110,000 and $112,000 may provide effective support. Although August and September are usually weak months for Bitcoin, some analysts remain optimistic about future trends, predicting it could reach $150,000 by October 2025.

In terms of Ethereum, some analysts predict it may test $3000. The market has mixed views on its short-term performance; some believe the current situation may be a false breakout and advise cautious operations, while others focus on the opportunity for it to once again challenge the 3.8K-4K range. Some analysts are extremely optimistic about Ethereum's long-term prospects, believing that with the participation of traditional financial institutions, its price could reach $10,000 to $20,000 within the next 12 months.

In another hot area, Meme coins related to the Grok concept rose across the board over the weekend, with the female AI companion concept Ani increasing by 45% in 24 hours, while the male AI companion concept Valentine surged by 103%.

Overall, the current crypto market is in a complex environment intertwined with macroeconomic fluctuations and emerging concept hotspots, and investors need to closely monitor changes in the global economic situation and the latest developments in various fields.