U.S. stocks and gold hit new highs, Crypto Assets fell big, with a liquidation of 1.8 billion.

The three major U.S. stock indices hit new highs again, and Nvidia promised to invest up to $100 billion in OpenAI, pushing its stock price up about 4%. While gold and the stock market continue to reach new highs, the crypto market experienced a comprehensive decline yesterday, with Bitcoin (BTC) briefly falling below 112K, and Ether (ETH) hitting a low of $4,077. In the last 24 hours, up to $1.8 billion in positions were liquidated, marking the largest liquidation wave since the end of March.

This week focuses on the remarks of Federal Reserve officials and PCE data.

Several Federal Reserve officials will speak at public events, including Chairman Powell's speech on Tuesday.

Federal Reserve Governor Stephen Miran, in his first policy speech since joining the Federal Reserve, outlined his case for significant interest rate cuts. At the same time, St. Louis Federal Reserve Bank President Alberto Musalem pointed out that, in the context of high inflation, he believes there is limited room for rate cuts. Cleveland Federal Reserve Bank's Beth Hammack also stated that officials should act cautiously to avoid overheating the economy.

Investors are focusing on the Personal Consumption Expenditures Price Index to be released on Friday (PCE), with the market expecting the PCE excluding food and energy in August to rise by 0.2%, down from 0.3% in July. On an annualized basis, the so-called core index is expected to remain at a high of 2.9%.

The cryptocurrency market has fallen sharply, with a total liquidation of 1.8 billion.

While gold and the stock market continue to reach new highs, the crypto market experienced a comprehensive decline yesterday, with a total market cap falling by 3.41% to $3.89 trillion. Bitcoin (BTC) briefly fell below 112K, and Ether (ETH) hit a low of $4,077.

Although cryptocurrency ETFs and digital asset finance company (DAT) continue to buy in, the market has lost momentum in the short term.

According to Coinglass data, positions worth up to 1.8 billion dollars have been liquidated within 24 hours, with ETH at 523 million dollars being the largest, followed by BTC at 301 million dollars. This is the largest liquidation wave since the end of March.

CryptoQuant's data shows that the funding rate for Ether perpetual futures has turned negative, falling to the lowest level since last year's yen arbitrage trade unwinding. This indicates that bears are in control and are paying longs to maintain their positions.

This article discusses how the US stock market and gold have reached new highs, while cryptocurrencies have fallen sharply, with a total liquidation of 1.8 billion dollars across the network, first appearing on Chain News ABMedia.