ChainCatcher news, Bank of Japan Governor Kazuo Ueda stated that if the economic and price trends align with forecasts, the Bank of Japan will continue to raise policy interest rates and adjust the level of monetary support. The timing of interest rate hikes will depend on the economic, price, and financial outlook. Vigilance must be maintained regarding various risks, including trends in overseas markets. (Jin Ten)

ChainCatcher news, Lightspark co-founder and Chief Strategy Officer, Christian Catalini, founder of the MIT Cryptoeconomics Lab (who was also a co-founder of the failed Diem/Libra project), shared his views on the U.S. debt, the Bitcoin strategic reserve proposal, and the calls to replace Federal Reserve Chairman Powell.Catalini believes that despite some false advertising in the market, the U.S. is not on the brink of a debt crisis. From a broader perspective, the world has accumulated debt, especially after the 2008 global financial crisis. While this does not mean that over-indebtedness is a good thing, it is a common issue that almost every country must address in some way. However, if Powell is removed in January next year, it would undermine the institutional credibility of the SEC and weaken the dollar, raising doubts about the market's ability to maintain debt. If Bitcoin were to truly become a strategic reserve asset in the future, it could signify "the end of the Federal Reserve's leadership in global monetary policy."

ChainCatcher news, according to Jinshi reports, since Trump has taken the lead in the prediction market and won his second term on Tuesday, the U.S. bond market has experienced a slight crash, leading to an increase in mortgage and other household borrowing costs. Fortunately, Trump has a clear way to mitigate this damage and start his term on a good note: he should announce that he fully trusts Federal Reserve Chairman Powell, whose term will last until May 2026, and commit to remaining silent on monetary policy issues.Powell had a brief conversation with reporter Victoria Guida:Guida: Some of Trump's advisors suggest you should resign. If he asks you to leave, would you go?Powell: No.Guida: Do you believe legally you don't have to leave?Powell: No, I don't have to.It is reported that Powell was not joking. Following these comments, the yield on the 10-year U.S. Treasury initially fell by about 4 basis points, totaling a decline of 11 basis points for the day.

ChainCatcher message, Federal Reserve Chairman Powell stated at a press conference that no decision has been made regarding what policy action the central bank will take in December. He said, "In the face of uncertain prospects, we are prepared to adjust our assessment of the appropriate pace and ultimate goals of monetary policy."

ChainCatcher message, Federal Reserve Chairman Powell will hold a monetary policy press conference in ten minutes.

ChainCatcher news, a Reuters survey shows that the Brazilian central bank will raise the benchmark interest rate by 50 basis points on November 6, marking the second step in its short-term tightening actions, in stark contrast to the policy easing in most global markets. The Brazilian central bank's monetary policy committee, Copom, raised the benchmark interest rate by 25 basis points last month, the first increase in two years, and hinted at more adjustments to come in response to a challenging inflation outlook.According to the Reuters survey conducted from October 21 to 25, the median estimate of 34 economists indicates that Copom may raise the Selic rate from 10.75% to 11.25%. Among them, 30 economists expect a 50 basis point increase, while four predict an additional 25 basis points increase.

ChainCatcher news, according to Forbes, recent research shows that major financial institutions, including the Federal Reserve Bank of Minneapolis, the European Central Bank (ECB), and the International Monetary Fund (IMF), are intensifying their research on Bitcoin. These institutions are generally concerned about the potential impact of Bitcoin on traditional monetary policy.The latest research released by the ECB when Bitcoin's price approached $70,000 indicates that the rise in Bitcoin's price could lead to a wealth redistribution effect, benefiting early holders while reducing the purchasing power of other social groups. The Minneapolis Fed warns that the existence of Bitcoin may affect the government's ability to sustain budget deficits.The IMF's policy document in 2023 specifically emphasizes that crypto assets could undermine the effectiveness of monetary policy in emerging markets. The IMF suggests that while countries should strengthen regulation, they should focus on enhancing the credibility of their monetary policy frameworks rather than implementing a comprehensive ban. These studies indicate that central banks are reassessing the challenges posed by Bitcoin to the traditional financial system.

ChainCatcher news, European Central Bank President Lagarde defended two main targets often criticized by Trump: monetary policymakers and global trade.Lagarde suggested that Trump visit Frankfurt to understand how challenging the work of Federal Reserve Chairman Powell, whom he frequently criticizes, really is. She discussed the issue of monetary policymakers being susceptible to political criticism during an interview.Lagarde also stated that Trump's notion that setting interest rates is easy is incorrect. In addition to monetary policymakers, Lagarde also expressed disagreement on the tariff issues that Trump is most passionate about.

ChainCatcher message, Fed's Daly stated that the Fed will continue to adjust policies to adapt to economic conditions; further rate cuts are expected in the future; no reasons have been seen to stop rate cuts; monetary policy is certainly still tight; does not want to see further deterioration in the labor market; the recent rate cut by the Fed passed by a narrow margin, and I strongly supported a 50 basis point cut at that time.

ChainCatcher news, according to Jinshi reports, Federal Reserve's Daly stated that the interest rate cut in September is a moderate adjustment of monetary policy, and the recent inflation readings are just slightly above 2%. Households, businesses, and markets have seen progress in inflation and believe that this progress will continue. The Federal Reserve's monetary policy remains restrictive and is working to reduce inflation.

ChainCatcher news, a Reuters survey shows that although nearly 90% of economists still expect the Bank of Japan to raise interest rates by the end of March next year, a slight majority of economists believe that the Bank of Japan will abandon further rate hikes this year. The published survey results highlight the challenges the Bank of Japan faces in advancing policy normalization, as most central banks globally tend to favor rate cuts, and there is uncertainty regarding the new political leadership's preferences for monetary policy.

ChainCatcher message, Coinbase analysts David Duong and David Han stated, "Despite the lackluster price movement of Bitcoin this week, market sentiment has remained largely unchanged, as evidenced by the stable perpetual contract funding rates and open interest over the past week." Coinbase analysts pointed out that the macro factors influencing cryptocurrency performance are shifting from monetary policy to the results of the U.S. elections. Despite the recent rise in CPI and core PPI, market expectations for interest rate cuts remain broadly stable.

ChainCatcher news, according to The Wall Street Journal, Federal Reserve's Bostic is open to not lowering interest rates in November.

ChainCatcher news, the European Central Bank (ECB) has questioned the view that stablecoins are a "safe haven" for investors during market turmoil, finding that they are actually highly influenced by U.S. monetary policy.The working paper examines the connections between U.S. monetary policy, money market funds (MMFs), and stablecoins. It argues that monetary policy, especially dollar policy, is key to linking cryptocurrencies and traditional financial markets. Stablecoins, which have a fixed price typically pegged to fiat currencies (usually the dollar), are susceptible to shocks from within the traditional financial markets, such as changes in U.S. monetary policy, like interest rate hikes.

ChainCatcher news, according to Jinshi reports, Federal Reserve Governor Bowman reiterated previous comments on monetary policy, stating that the core inflation rate remains uncomfortably high above the 2% target.

ChainCatcher news, Federal Reserve Chairman Powell did not discuss monetary policy or economic outlook in his brief opening remarks at the New York Fed. (Jin Shi)

ChainCatcher news, QCP Capital has released its latest market analysis report. The report indicates that Bitcoin is currently oscillating in the range of $62,000 to $64,000, while Ethereum's trading price is close to the low of $2,600. Micron Technology (MU) shares surged 16% due to an upward revision of its fourth-quarter revenue expectations, and the market anticipates that chip companies like Nvidia (NVDA) may follow suit, which could serve as a catalyst for Bitcoin to break through $64,000.Today's key macro events include U.S. GDP data and a speech by Federal Reserve Chairman Jerome Powell. The market will closely monitor Powell's speech for any changes in policy stance following last week's FOMC press conference. U.S. presidential candidate Kamala Harris has reiterated her support for cryptocurrencies, promising to position the U.S. as a leading force in "AI, quantum computing, and blockchain."QCP Capital believes that as global central banks begin to ease monetary policy, the expected increase in liquidity may drive cryptocurrency prices higher. The company suggests that investors consider going long on long-term options structures with unlimited upside potential to capture potential parabolic price increases.