$WATERWATER Price

On August 23, Paul Chan, the Financial Secretary of the Hong Kong Special Administrative Region, published a blog stating that the AI boom is adding strong momentum to Hong Kong's economy and consumer market. The SAR government is fully promoting the implementation and widespread application of AI across various sectors. Chan noted that the development of AI has significantly boosted Hong Kong's economy and financial markets. Benefiting from the strong global demand for AI-related products, Hong Kong's exports have recorded high double-digit growth for several consecutive quarters. In the capital market, from December last year to May this year, the fundraising amount for AI-related new stocks in Hong Kong reached nearly HKD 100 billion, accounting for about 55% of the total during the same period. The Hang Seng Index Company has also recently included several AI-related companies in its index, reflecting their increasingly important role in the economy. Research reports further estimate that if the AI usage rate of small and medium-sized enterprises in Hong Kong can catch up with that of large enterprises by 2035, it could release up to HKD 65 billion in economic benefits for Hong Kong. The SAR government's operations are also increasingly empowered by AI, with the AI Efficiency Enhancement Group facilitating the first batch of 30 efficiency enhancement projects involving 13 departments.

On August 23, Paul Chan, the Financial Secretary of the Hong Kong Special Administrative Region, stated in a blog post that the AI boom is providing strong momentum for Hong Kong's economy and consumer market. The HKSAR government is fully promoting the implementation and widespread application of AI across various fields. Chan noted that the development of AI has significantly aided Hong Kong's economy and financial market. Benefiting from the strong global demand for AI-related products, Hong Kong's exports have recorded high double-digit growth for several consecutive quarters. In the capital market, from December last year to May this year, the fundraising amount for AI-related new stocks in Hong Kong reached nearly HKD 100 billion, accounting for about 55% of the total during the same period. The Hang Seng Index Company has recently included several AI-related companies in its index, reflecting their increasingly important role in the economy. Research reports further estimate that if the AI usage rate of small and medium-sized enterprises in Hong Kong can catch up with that of large enterprises by 2035, it could release up to HKD 65 billion in economic benefits for Hong Kong. The HKSAR government's operations are also increasingly empowered by AI, with the AI Efficiency Enhancement Group facilitating the first batch of 30 efficiency enhancement projects involving 13 departments.

On August 23, Forbes reported that Bitcoin recently surged from $62,900 to $79,500, marking a 26% increase within five days, following the liquidation of over $3.1 billion in short positions. Trader MARMOT stated that this rally is not entirely driven by natural demand but is a typical short squeeze scenario. He noted that approximately $3.1 billion in short positions were liquidated in the past few days, making it one of the largest liquidation events he has witnessed. As Bitcoin rapidly climbs, retail investors are jumping in, leading to a noticeable FOMO (Fear of Missing Out) sentiment in the market. Geoff Kendrick, head of digital asset research at Standard Chartered Bank, indicated that his previous prediction of Bitcoin reaching $100,000 by year-end may be underestimated. He believes Bitcoin could retest its historical high of $126,000 and expects market recovery to accelerate further after October 6. Meanwhile, some market participants are concerned about the short-term overheating risks of the current rally. Trader David Goldstein noted that Bitcoin's rise from $64,000 to nearly $80,000 has been primarily driven by signals from the U.S. Treasury's bond buyback and an unprecedented short squeeze. He considers $80,000 to be the first significant resistance level, suggesting that this rally may peak in the $85,000 to $90,000 range before experiencing a correction or fluctuating around $70,000 to $75,000. Prediction platforms indicate a warming market expectation for Bitcoin's future price. Additionally, U.S. spot Bitcoin ETF inflows have rebounded, with a total of $1.62 billion flowing in over four trading days as of August 21, reversing the previous week's net outflow trend. However, several traders caution investors against chasing prices due to the rapid increase. Crypto Kit remarked that just a week ago, the market was waiting for buying opportunities in the $45,000 to $50,000 range, and now, after Bitcoin has risen to $77,000, investors are suddenly accepting the current price, indicating a significant rise in market FOMO sentiment. They stated, 'I wouldn't rush in just because I'm afraid of missing out, as the market could drop 10% at any moment, and nothing can prevent that from happening.'