inflation

According to official social media news, Huobi HTX will hold a live broadcast today at 20:00 titled "BTC 80,000 Defense Battle: Are Bulls Bottom Fishing or Bears Harvesting?" At that time, crypto KOLs such as Zhengrong Shuo, Damo Ge, Crypto.0824, and Ray Lazy Sheep will discuss the long and short game around BTC at the $80,000 mark, analyzing the support strength of key price levels, potential rebound signals, and downside risks in conjunction with the macro environment, capital flow, and market sentiment. They will also share insights on position management and risk response strategies from the perspective of ordinary investors amidst market fluctuations.

The NEAR ecosystem governance proposal HSP-029 has entered the voting stage, proposing to gradually reduce the maximum annual issuance rate of NEAR tokens from 2.5% to 1.6%. This proposal was put forward by SVRN CEO Sal Ternullo, planning to linearly decrease by approximately 3.75 basis points per epoch over 24 months, while maintaining a 90/10 allocation ratio between stakers and the treasury. After the vote passes, there will be a 90-day grace period before the reduction officially begins.The proposal's calculations indicate that this plan is expected to reduce the issuance of approximately 11.8 million NEAR tokens over two years, with a cumulative reduction of about 66.1 million tokens over six years, equivalent to a 4.36% decrease in supply compared to the current situation. The annualized staking yield will gradually decrease from the current 5.268% to 3.372%. The author points out that this move aims to reduce the degree of dilution for non-staking holders and responds to discussions regarding the protocol's discretion risk following the withdrawal of the previous Sovereign Fund proposal.This proposal must go through a dual process to take effect: after passing the House of Stake vote, validators must also independently adopt it through the standard protocol upgrade process. The proposal cites Solana's SGP-0002, which was passed in August 2026 with a staking weight approval of 67.001% for a similar issuance reduction, as a precedent. Currently, the NEAR network has a total of 406 active validators, with a staking rate of 42.71%.

JPMorgan Chase CEO Jamie Dimon stated in an exclusive interview with The Wall Street Journal that the current state of the U.S. economy is strong, with significant growth in corporate profits, a low unemployment rate, and overall low leverage for businesses and consumers. He described this as a good time. Dimon also pointed out that several potential risks are accumulating beneath the surface, including persistent inflation that has lasted for five years, large fiscal deficits, and geopolitical uncertainties such as overseas wars.He emphasized that predicting the specific timing and triggers of an economic downturn is extremely difficult, as the eventual recession is often caused by a combination of factors that cannot be accurately assessed at present. When discussing how banks should respond, Dimon stated that JPMorgan Chase conducts extremely in-depth analyses of various risks to ensure that the bank can withstand shocks whether interest rates rise or fall, and whether inflation or stagflation occurs, while continuing to serve clients during difficult times. He mentioned that the bank is prepared for extreme scenarios such as a 40% drop in the stock market and a two to three times widening of bond credit spreads, rather than trying to guess when these scenarios will happen. The core principle is to be well-prepared to continuously support businesses and communities in various environments.

According to four informed sources, the Bank of Japan may raise its inflation outlook for the next fiscal year in the forecasts to be released this month, as rising oil prices are exerting more persistent price pressures on the economy than expected.Sources said that given that the Bank of Japan just raised interest rates last month, it is expected to maintain interest rates at the two-day policy meeting ending on October 30, unless the yen exchange rate falls significantly again, which would raise import costs and overall inflation levels.Sources indicated that the Bank of Japan may continue to emphasize the growing inflation risks in the quarterly report released after the meeting, leaving room for another rate hike as early as December. One of the sources pointed out that the increase in consumer prices may last longer than expected, although underlying inflation has not changed significantly. Two other sources also expressed the same view.

According to CoinDesk, institutions have differing views on Bitcoin's year-end performance, with optimists eyeing $100,000 and cautious analysts focusing on inflationary pressures. Bitwise Research Director Ryan Rasmussen believes that Bitcoin could surpass $100,000 by the end of 2026, driven by institutional purchases through ETFs, ongoing corporate buying, concerns about inflation and government debt, and a clearer regulatory environment.LO:TECH Research Director Adam Morgan McCarthy expects Bitcoin to fluctuate between $85,000 and $95,000 before the end of the year, with inflation pressures and Federal Reserve policies remaining market headwinds; to return above $100,000, the market may need to lower expectations for a rate hike in December, while a drop in oil prices and easing inflation could facilitate this change.CoinShares Research Director James Butterfill pointed out that the contradiction between persistent inflation and a weakening job market will affect the Federal Reserve's subsequent policy space: cooling inflation may provide room to address job weakness, while renewed inflation could keep monetary policy restrictive.

European Central Bank President Christine Lagarde stated that the sell-off in the bond market has led to an increase in borrowing costs in the Eurozone, which has hindered economic growth and ultimately suppressed inflation. She pointed out that tightening financing conditions and rising long-term interest rates will slow down economic growth and weaken the transmission effect of prices.

European Central Bank President Christine Lagarde emphasized the importance of maintaining sound public finances, calling it a key pillar of economic stability. She pointed out that countries should ensure that fiscal measures to address energy shocks are temporary and targeted.Lagarde reiterated that the economic outlook for the Eurozone faces downside risks, while inflation risks are tilted to the upside.

According to Jinshi Data, Bank of Japan Governor Kazuo Ueda stated that Japan's core inflation is close to 2%, marking a policy shift, and the central bank's policy has entered a new phase where inflation cannot be allowed to rise further. Due to core inflation being close to 2% and the financial environment remaining accommodative, the Bank of Japan will continue to raise interest rates and adjust its monetary easing policy. The central bank will discuss whether to adjust the assessment of "core inflation close to 2%" at the upcoming meeting.Kazuo Ueda mentioned that the situation in the Middle East, demand for artificial intelligence, and exchange rates will influence the timing of interest rate hikes. The central bank has been monitoring the impact of the weakening yen and the Middle East situation on inflation. He also stated that it is difficult to make a clear statement about Japan's neutral interest rate, and the stability of 2% inflation is becoming increasingly important. The central bank will focus on consolidating the 2% inflation target. Additionally, Ueda noted that the main takeaway from this week's meeting (including the G20) was the communication with other policymakers regarding the impact of the Middle East conflict and demand for artificial intelligence on the global and Japanese economy, and there was nothing heard that deviated from the Bank of Japan's fundamental views. He exchanged opinions with Federal Reserve Chairman Waller but will not disclose specific details; since the meeting in Asheville, he has not contacted U.S. Treasury Secretary Yellen.

In September, the U.S. PPI rose by 1.3% month-on-month, marking the largest increase since March 2022, raising concerns about inflation. U.S. Treasuries surged against the trend due to safe-haven buying, with the ten-year yield falling back to above 5.08%. Gold attempted to reverse the downward trend since August.

Federal Reserve Chairman Waller stated that inflation is not unique to the United States.

Jonas Golterman, Chief Market Economist at Caixin Macro, warned that there are increasing signs of a cyclical downturn in the US stock market, and a correction may continue over the next year, with US Treasury yields declining in tandem.He pointed out that despite recent high inflation data, concerns about whether the artificial intelligence boom can be sustained are rising, affecting market performance.

According to Bloomberg, the cryptocurrency market is experiencing a tug-of-war between bulls and bears, with analysts still leaning bullish, but the speculative market is shifting towards defense, putting pressure on risk appetite. Bitcoin briefly fell below $80,000 for the first time in nearly a month; affected by the sell-off in the U.S. stock market's AI sector, risk assets retreated, and the bullish sentiment that the cryptocurrency market was trying to rebuild was once again thwarted.Jeff Anderson, head of STS Digital in the U.S., stated that inflation data will "severely impact risk appetite," and the market is entering a quiet period before the Federal Reserve's interest rate meeting, with interest rate expectations still uncertain. Nick Forster, founder of Derive.xyz, mentioned that in the past 24 hours, the market's pricing of Bitcoin's probability of rising to $100,000 before Christmas has decreased by 2.8 percentage points to 9.7%; long-term bullish bets have quickly retreated, short-term hedging demand has surged, and institutions are reassessing macro risk exposure as the interest rate outlook becomes unclear again.

Due to the impact of rising energy costs, the U.S. Producer Price Index for September exceeded expectations across the board, indicating that the effects of rising energy prices are being transmitted to various sectors of the U.S. economy. Data released by the U.S. Bureau of Labor Statistics on Thursday showed that the Producer Price Index for September rose 1.3% month-on-month and 6.3% year-on-year.Excluding food and energy, the core PPI rose 0.7% month-on-month and 5% year-on-year. The report indicated that while fuel prices are rising, underlying inflationary pressures in the U.S. remain stubborn. With only a few weeks left until the midterm elections in November, the burden of living costs has become a central issue in the election.This data may also prompt Federal Reserve officials to continue raising interest rates in the coming months, especially as another report released on Wednesday showed that a key consumer price index in the U.S. for September rose more than expected. The report also indicated that price pressures are expected to remain high in the coming months. An indicator measuring input price expectations for the next six months rose to its highest level since 2022.

Bai Xue, Deputy Director of Research at Dongfang Jincheng, stated that U.S. inflation rebounded significantly in September, with the CPI rising 3.7% year-on-year and the core CPI rising 2.6% year-on-year. The rebound in inflation has strengthened the necessity for the Federal Reserve to continue raising interest rates this year, with an increased probability of holding steady in October and raising rates by 25 basis points in December.