The price of Bitcoin has quietly fallen below $112,000, with the market's speculation on the interest rate cut in September becoming the main influencing factor. As Hamark takes a cautious stance on the interest rate cut in September, investor sentiment is gradually turning pessimistic. The probabilities of interest rate cut expectations for CME and Kalshi have dropped to 73.5% and 60%, respectively.

Despite some politicians attempting to influence the market, the effect is not significant. Investors are more focused on the upcoming Jackson Hole annual meeting, especially the speech by Fed Chairman Powell. It is expected that Powell may not provide clear guidance on September's monetary policy but will emphasize a data-driven decision-making approach. However, if he shows a neutral stance on a rate cut in September, it could bring some positive news to the market.

Currently, the cryptocurrency market is becoming increasingly intertwined with traditional financial markets. Investors need to closely monitor global economic policy trends, especially the decisions of the Federal Reserve, to better grasp market movements. At the same time, it is also important to be aware of the inherent volatility of the cryptocurrency market and to manage risks effectively.