What Is AREA

On August 28, QCP Capital released its latest market analysis, noting that BTC has remained around $80,000 ahead of the Jackson Hole central bank annual meeting. Market attention is not only on Fed Chairman Waller's policy stance but also on how the Fed balances ongoing inflation pressures with the financial environment, especially given the new pressures facing the long-term U.S. Treasury yield curve. QCP pointed out that the U.S. Treasury previously announced it would expand the liquidity support for 10 to 30-year Treasury repurchase agreements starting September 9, raising the cap on each operation from $2 billion to at least $4 billion. Following this announcement, long-term U.S. Treasury yields briefly declined, the dollar weakened, and both gold and BTC rose in tandem. However, the Treasury emphasized that this plan aims to improve liquidity in the long-term nominal bond market and is not intended to intervene in yield levels. Inflation remains a significant constraint for the Fed. Data shows that the overall PCE in the U.S. rose 0.2% month-over-month in July, with a year-over-year increase of 3.7%; the core PCE also rose 0.2% month-over-month, maintaining a year-over-year rate of 3.3%. QCP stated that inflation remains above the Fed's 2% target, creating uncertainty for the September policy decision. Current risk assets continue to be supported by the AI investment cycle. Nvidia's latest earnings report showed quarterly revenue reaching $96.2 billion, a 106% year-over-year increase, with data center revenue hitting $89 billion, up 117% year-over-year. The company expects revenue of about $108 billion for the next quarter, exceeding previous market expectations. Nvidia's stock subsequently rose about 8.7%, boosting the overall tech sector. In the crypto market, BTC has risen from around $63,500 last week to about $80,000, briefly surpassing $81,000 during this period. The U.S. spot BTC ETF has recorded inflows for eight consecutive trading days, with a total net inflow of approximately $2.8 billion, providing support for this price increase through spot demand. Notably, this price rise has not been accompanied by a rapid increase in leverage. The open interest in BTC futures has decreased from about 646,000 BTC in mid-August to around 588,000 BTC, with funding rates remaining at low levels. QCP believes this indicates that the current rise is driven more by short covering and spot buying rather than a surge in leveraged long positions. BTC is currently approaching the $81,000 to $86,000 range, with approximately $83,300 being a key focus for the market. QCP stated that the critical question is not just whether BTC can break through this area, but whether the subsequent rise will continue to be driven by spot demand or shift to being dominated by leveraged funds. QCP noted that Waller will deliver an opening speech at the Jackson Hole meeting, and the market will closely observe how he articulates the impact of inflation targets, financial conditions, and long-term interest rate changes on the monetary policy framework.

On August 28, QCP Capital released its latest market analysis, noting that BTC has remained around $80,000 ahead of the Jackson Hole central bank annual meeting. Market attention is not only on Fed Chairman Waller's policy stance but also on how the Fed balances ongoing inflation pressures with the financial environment, especially given the new pressures facing the long-term U.S. Treasury yield curve. QCP pointed out that the U.S. Treasury previously announced it would expand the liquidity support for 10 to 30-year Treasury repurchase agreements starting September 9, increasing the cap on each operation from $2 billion to at least $4 billion. Following this announcement, long-term U.S. Treasury yields briefly declined, the dollar weakened, and both gold and BTC rose in tandem. However, the Treasury emphasized that the plan aims to improve liquidity in the long-term nominal bond market and is not intended to intervene in yield levels. Inflation remains a significant constraint for the Fed. Data shows that the overall PCE in the U.S. rose by 0.2% month-on-month in July and increased by 3.7% year-on-year; core PCE rose by 0.2% month-on-month and remained at 3.3% year-on-year. QCP stated that inflation is still above the Fed's 2% target, which introduces uncertainty into the September policy decision. Current risk assets continue to be supported by the AI investment cycle. Nvidia's latest earnings report showed quarterly revenue reaching $96.2 billion, a 106% year-on-year increase, with data center revenue at $89 billion, up 117% year-on-year. The company expects next quarter's revenue to be around $108 billion, exceeding previous market expectations. Nvidia's stock subsequently rose by about 8.7%, boosting the overall strength of tech stocks. In the cryptocurrency market, BTC has risen from about $63,500 last week to around $80,000, briefly surpassing $81,000 during this period. The U.S. spot BTC ETF has recorded inflows for eight consecutive trading days, with a cumulative net inflow of about $2.8 billion, providing support for spot demand in this rally. Notably, this rise has not been accompanied by a rapid increase in leverage. The open interest in BTC futures has decreased from about 646,000 BTC in mid-August to around 588,000 BTC, and the funding rate has remained at a low level. QCP believes this indicates that the current rise is driven more by short covering and spot buying rather than a large influx of leveraged long positions. BTC is currently approaching the $81,000 to $86,000 range, with approximately $83,300 being a key focus for the market. QCP states that the critical question is not just whether BTC can break through this area, but whether the subsequent rise will continue to be driven by spot demand or shift to being dominated by leveraged funds. QCP notes that Waller will deliver the opening speech at the Jackson Hole meeting, and the market will closely observe how he articulates the impact of inflation targets, financial conditions, and changes in long-term interest rates on the monetary policy framework.

On July 29, according to Iran's state television, the border area of Piranshahr in West Azerbaijan Province, Iran, was subjected to a US airstrike local time on the afternoon of July 29.