Market Price Overview (Intraday)

Bitcoin (BTC) is down about $111,437, a decrease of approximately 2.7%—significantly pulling back. Ethereum (ETH) is down about $4,628, a decrease of approximately 2.9%—adjusting after a previous high. Solana (SOL) is down about $197.9, a decrease of approximately 3.3%—slightly weaker than ETH's pullback. Cardano (ADA) is down about $0.8626, a decrease of approximately 3.7%—the largest drop. XRP is down about $2.95, a decrease of approximately 2.3%—a slight pullback. BNB is down about $859.6, a small decrease of 0.4%.
Overall, mainstream currencies are generally showing a correction trend today, reflecting a slight cooling of market sentiment after Powell's comments on interest rate cuts.

Today's Cryptocurrency News

1. After Ethereum broke through to a new high, it retraced.
Ethereum briefly surpassed its 2021 high today, reaching $4,945, but closed in the US market at around $4,628, reflecting profit-taking after hitting a new high. The market capitalization nears $600 billion, indicating strong inflows from institutions and ETFs.

2. Global exchanges call for strengthened regulation on "tokenized stocks"
The World Federation of Exchanges (WFE) urges the US SEC, ESMA, and IOSCO to impose stricter regulations on "tokenised stocks" products that simulate stock prices but do not confer legal shareholder rights. It points out that such products could mislead investors and harm market integrity.

3. American banks oppose interest-bearing stablecoins
Bankers are concerned that the Genius Act regulations leave a loophole for indirectly paying returns on stablecoins through exchanges, which could lead to significant deposit outflows, affecting credit supply and financing for small and medium-sized enterprises. Banks are lobbying for legislative amendments, which stand in opposition to the policy objectives of the cryptocurrency industry.

Summary and Market Observation

Today's market is focused on the correction after Ethereum reached a new high, with BTC and most mainstream coins also falling in line.

In terms of exchange rates, the new high of ETH is a confidence indicator, but whether it can maintain the new high and shift to an upward trend still needs to be observed.

On the policy front, regulatory issues have resurfaced: the controversy over "tokenized stocks" and stablecoin interest rates indicates that friction between the financial and cryptocurrency sectors is intensifying.

Investor sentiment has shifted from a sharp rebound to cautious observation, with short-term recommendations to pay attention to the direction of the US dollar and changes in ETF inflows.