On August 13th, Eric Balchunas, an ETF analyst at Bloomberg, stated that the approval of the SOL ETF next year depends on whether the U.S. government changes its personnel. He believes that Gensler will not stay, and the government will not choose a similar replacement. If the Republican Party takes over, anything is possible, especially since Trump has established relationships with relevant individuals and sought breakthroughs.
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On August 14th, Bostic from the Federal Reserve indicated that interest rate cuts are imminent, but more data is needed to confirm inflation trends. If rates are cut and then increased again, the situation would be dire. If the economy develops as expected, interest rates will be cut by the end of the year.
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After months of selling pressure, Bitcoin holders' behavior appears to be returning to a pattern of HODLing and accumulation. On-chain conditions indicate a strong belief among holders, and despite market volatility, accumulation behavior dominates. Long-term investors are increasing their holdings, demonstrating patience and resilience in their beliefs.
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