Federal Reserve Chairman Powell stated at the European Central Bank Forum that despite progress in inflation, he hopes to see more progress before being confident to start cutting interest rates. The number of initial jobless claims in the US has risen for the ninth consecutive week, reaching a recent high. Analysts at Standard Chartered Bank predict that Bitcoin may reach $100,000 on the US election day. QCP Capital points out that despite the stock market's rise, the cryptocurrency market still leans towards bullishness. Genesis Digital Assets is considering an IPO in the US. Binance has updated its services in accordance with new regulations in Turkey, halting all direct marketing activities targeting Turkish users.

1. Powell: Hope to see more progress before having enough confidence to start cutting interest rates. Federal Reserve Chairman Powell stated at the Central Bank Forum hosted by the European Central Bank that the Fed has made significant progress in terms of inflation. However, he also mentioned that he hopes to see more progress before having enough confidence to start cutting interest rates. When asked about what keeps him up at night, Powell pointed out the delicate balance between controlling inflation and avoiding a significant deterioration in the labor market. Powell expressed satisfaction with the downward trend in U.S. inflation after a rebound at the beginning of the year, highlighting a cautious optimism.

2. The U.S. announced that the number of continued jobless claims for the week ending June 22 was 1.86 million, with an expectation of 1.84 million and a previous value of 1.839 million. The number of initial jobless claims in the U.S. for the week ending June 29 was 238,000, with an expectation of 235,000 and a previous value of 233,000. The number of people applying for unemployment benefits in the U.S. has risen for the ninth consecutive week, marking the longest duration since 2018. As of the week ending June 22, the number of continued claims for unemployment benefits increased to 1.86 million, reaching the highest level since November 2021.

3. Standard Chartered Bank Research Director: Bitcoin may reach a new historical high in August, reaching $100,000 on U.S. election day. The analyst's prediction depends on whether President Biden can continue to participate in the presidential election, which the market believes would increase the chances of former President Trump's re-election. This outcome is considered favorable for Bitcoin, as Trump's victory may bring about more favorable policies for the crypto market. Additionally, the Standard Chartered Bank analyst shared predictions for other presidential election scenarios, with the least likely scenario being Biden dropping out of the race by the end of July, which could lead to a drop in Bitcoin prices to $50,000 to $55,000. Previously, Standard Chartered Bank predicted a year-end target of $150,000 for Bitcoin, reaching $200,000 by 2025.

4. QCP Capital: Options market still biased towards bullish sentiment, market still expects year-end rebound. The U.S. stock market surged to new highs due to Powell's statement that the U.S. economy is progressing along the path of disinflation, but this upward momentum did not transfer to BTC and ETH, with prices hovering above $60,000 and $3,300, respectively. Despite some selling pressure, the options market still leans towards bullish sentiment, indicating that the market still expects a year-end rebound, consistent with the significant buying interest in long-term options at $100,000/$120,000 observed. Looking ahead, due to the uncertainty surrounding the supply released by Mt. Gox, BTC is expected to remain subdued in the third quarter.

5. Insider: Crypto mining company Genesis Digital Assets is considering an IPO in the U.S. This crypto mining company is collaborating with advisors on potential listing matters. An insider stated that the company plans to raise pre-IPO financing, which could launch in the coming weeks; discussions are ongoing, and details of the fundraising plan may change. Notably, SBF's former hedge fund Alameda is an investor in this cryptocurrency mining company GDA, with investments exceeding $1 billion. According to an internal spreadsheet seen by Bloomberg News listing FTX and Alameda's venture capital portfolio, GDA was valued at $5.50 billion in a financing round in April 2022.

6. Binance updates services according to new regulations in Turkey, halting all direct marketing activities for Turkish users. Binance announced service updates in accordance with new cryptocurrency regulations in Turkey, with the Turkish language option on Binance.com gradually closing within 3 months, and all direct marketing activities for Turkish users will cease.

Powell discusses rate cut conditions, US jobless claims rise, outlook on the crypto market, and Binance updates Turkish services