Magic Runner Launch

Run, train, earn: which GameFi projects to watch in 2024 According to the Messari report, in 2023, about 3.4 billion gamers brought the gaming industry $184 billion. The latter undergoes a paradigm shift once every 10 years, so the rise of the GameFi financial sector can be compared to

REMINDER: $14,600,000,000 WORTH OF BITCOIN AND ETHEREUM OPTIONS EXPIRE TODAY. EXPECT VOLATILITY!

JUST IN: BlackRock buys 15,006.02 $ETH worth $67.1 million.

Tonight, the cryptocurrency market will welcome two major events that may significantly impact the price trends. First, the U.S. core personal consumption expenditures (PCE) price index for July is set to be announced at 20:30. As one of the main indicators for the Federal Reserve to measure inflation, PCE data holds significant guidance for the direction of monetary policy. If the PCE data comes in below expectations, it may suggest a weakening of inflationary pressures, increasing the likelihood of future rate cuts by the Federal Reserve. In this case, market liquidity is expected to improve, potentially driving up the prices of cryptocurrencies such as Bitcoin and Ethereum. Conversely, if the PCE data exceeds expectations, it could lead the Federal Reserve to maintain current interest rates or further tighten monetary policy, thereby triggering a flow of funds back to traditional safe assets like the dollar, putting pressure on the cryptocurrency market. Secondly, a highly anticipated hearing will take place at 22:00. Although this matter is not directly related to the cryptocurrency field, it may have a significant impact on overall market sentiment. If the hearing results exacerbate investors' concerns about the political situation in the United States, risk-averse sentiment may rise, leading to funds being withdrawn from high-risk investment areas (including the cryptocurrency market). However, if the hearing results lead the market to believe that the political situation is better than expected, investor confidence may be boosted, favoring the reflow of funds into the cryptocurrency market. The outcomes of these two events will largely determine the direction of the cryptocurrency market in the near term. Investors should closely monitor these developments and adjust their investment strategies accordingly. Regardless of the outcome, this night will be a crucial moment filled with uncertainties for the cryptocurrency market.

At 8:30 tonight, an important economic indicator will be released - the Core Personal Consumption Expenditures ( PCE ) data. This data may influence Fed Chairman Powell's policy stance, and it could also be a key factor in determining whether Ethereum can break through the $5000 barrier. The market generally believes that if inflation data continues to rise, the cryptocurrency market may experience a strong rally, pushing the current bull market to a new peak. However, if the inflation data is lower than expected, it may be interpreted as the positive factors having been fully digested, and the market may face a risk of correction. For investment strategies in Ethereum, some analyses suggest considering establishing long positions around $4350, with a short-term target price of approximately $4500. From a long-term perspective, there are opinions that Ethereum is expected to reach the level of $5500. However, investors should keep in mind that the cryptocurrency market is highly volatile, and any investment decision should be based on their own risk tolerance and comprehensive market analysis. Paying close attention to tonight's economic data release will help investors better assess market trends and potential risks.