Data: 66.38% of traders on Binance platform bet that Bitcoin will rebound

[The Federal Reserve May Boost Market Sentiment Through Rate Cuts and Early End to Balance Sheet Reduction] The Federal Reserve's policy committee is expected to announce two key easing measures on Wednesday: a 25-basis-point rate cut and an early end to the balance sheet reduction program. Analyst Derek Tang stated that this combination of measures could significantly enhance market risk appetite and exert downward pressure on Treasury yields. He noted that although there is still uncertainty surrounding the decision to end the balance sheet reduction early, the recent tightening in funding markets has greatly increased this possibility. These policy adjustments may signal further easing and strengthen market expectations of the Federal Reserve's support for economic growth. (UTC+8)

[S&P Downgrades Strategy to Junk Credit Rating Due to High Concentration in Crypto Business and Other Factors] S&P Global Ratings has downgraded Strategy (formerly MicroStrategy) to a junk credit rating, assigning it a B- rating, six notches below investment grade, with a stable outlook. S&P highlighted issues such as the company's high concentration in cryptocurrency business, narrow business scope, weak risk-adjusted capital strength, and insufficient U.S. dollar liquidity. Strategy holds approximately $74 billion in fair value of Bitcoin, acquired through debt and equity issuance. Although S&P acknowledged the company's ability to manage convertible bonds, it expressed concerns over liquidity risks associated with its debt arrangements. By October 2025, the company is required to pay over $640 million annually in preferred stock dividends, and $5 billion in out-of-the-money convertible bonds will begin maturing in 2028. S&P emphasized that Bitcoin price volatility could exacerbate liquidity pressures when the debt matures.

[U.S. Senator Warns Crypto Legislation Must Be Completed Early Next Year to Avoid Election Interference] U.S. Republican Senator Thom Tillis stated that Congress needs to complete cryptocurrency-related legislation by January or February 2026; otherwise, the upcoming election politics may hinder the legislative process. He emphasized the importance of advancing the regulatory framework as soon as possible to ensure that legislative efforts are not disrupted by the election cycle.

[Trump Plans to Announce Successor to Federal Reserve Chair Powell by Year-End, Five Candidates Finalized] U.S. President Trump stated that he might announce the nomination for Federal Reserve Chair Powell's successor by the end of this year. Powell's current term is set to end in May 2026, and the list of successor candidates has now been narrowed down to five. Treasury Secretary Besent plans to conduct a second round of interviews with these candidates in November and submit a streamlined nomination list to the president for the final decision. The five candidates include current Federal Reserve Governor Christopher Waller and Vice Chair for Supervision of Banking Michelle Bowman. Additionally, White House National Economic Council Director Kevin Hassett and former Federal Reserve Governor Kevin Warsh are considered frontrunners. The fifth candidate is Rick Rieder, a senior executive at BlackRock who oversees the company's massive bond portfolio.

[A Whale's Long Position on Hyperliquid Reaches $433 Million] A whale's long position on the Hyperliquid platform has risen to $433 million, with current unrealized gains of $12.05 million. Among them, the cost price for the BTC long position is $111,897, and the cost price for the ETH long position is $3,966.