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Market data shows that BTC has surpassed $78,000, currently priced at $78,009.49, with a 24-hour decline narrowing to 3.23%. The market is experiencing significant volatility, so please ensure proper risk management.

Market data shows that BTC has surpassed $78,000, currently priced at $78,009.49. The 24-hour decline has narrowed to 3.23%. Due to significant market fluctuations, please ensure proper risk management.

On August 29, following remarks by Federal Reserve Chairman Walsh regarding the need to curb inflationary pressures, market bets on a Fed rate hike significantly increased, leading to a stronger dollar and a sharp decline in the prices of precious metals like gold. As of the time of this report, spot gold had fallen by 2.6% in a day, dropping over $120 to $4,480 per ounce, with an intraday low of $4,464, marking a one-week low. Independent analyst Tai Wong noted, "Chairman Walsh clearly stated that inflation has not shown substantial signs of slowing and emphasized that the Fed 'still has work to do,' which triggered a severe sell-off in the gold market. Although this may still be a communication strategy of 'much ado about nothing,' it is enough for the market to view the September meeting as a deadlock with equal probabilities for a rate hike and a pause." Walsh's comments mark his closest public acknowledgment yet that further rate hikes may be necessary to alleviate price pressures. He pointed out that if policymakers cannot be confident that core inflation is steadily returning to the 2% target, the Fed still has "work to do." In response, traders quickly increased their bets on a rate hike in September. In other precious metals, spot silver fell by 3.63% to $66.77 per ounce; spot platinum shifted from gains to losses, down 0.27% to $1,841.90; while spot palladium's gains narrowed to 5.05%, priced at $1,418.30.