Gold emerges from Q2 slump, Wall Street sets target for next 12 months at $5400

Peter Brandt stated that the form of Bitcoin has turned into an effective bottom and has bought in when it breaks through. On July 20th, Peter Brandt stated that he expects the current Bitcoin market cycle to bottom out on October 4th, 2026, and believes that investing in Bitcoin for the next two to three years will yield better returns than investing in AI stocks.

The initial value of the US August S&P Global Manufacturing PMI is 53.2, with an expected value of 53.9, compared to the previous value of 53.9; The initial value of the US S&P Global Services PMI for August is 56.8, with an expected value of 54, compared to the previous value of 54.6.

The Financial Accounting Standards Board (FASB) of the United States issued a proposed accounting standard update (ASU) on August 18, 2026, aimed at clarifying the applicable standards for defining cash equivalents in digital assets such as stablecoins and enhancing disclosure transparency. Stakeholders are required to submit their opinions by November 19, 2026.

Gold experienced a sell-off after reaching a historic high of $5600, and its performance in the second quarter was the worst since 2013, currently undergoing a rebound and recovery. Wall Street has set a 12-month target for gold at $5400, with analysts warning that gold is facing macro resistance and downward pressure in the short term. （CNBC）

[Jeremy Allaire: Proposed FASB Accounting Rules Will Drive Institutional Adoption of USDC] Circle CEO Jeremy Allaire stated that the new proposed accounting rules will strategically promote the adoption of digital dollars like USDC. Combined with the GENIUS Act, the FASB rules will enable USDC to be widely used by global enterprises and financial institutions.