According to BlockBeats, on July 29, Bitget data showed that spot silver rose by $1 during the day, currently trading at $58.10 per ounce, up 1.75%.

According to BlockBeats, on July 29th, on the eve of the Federal Reserve's interest rate decision, the market was no longer simply facing a binary choice between raising rates or holding steady, but rather a shift in the monetary policy decision-making model. Warsh's continued downplaying of forward guidance has deprived the market of its past reliance on officials' speeches to predict policy. Wall Street is now forced to find answers through probability trading and hedging positions, which explains the recent record high in open interest in federal funds futures and the simultaneous increase in demand for rate hike hedging. Even though most institutions still expect rates to remain unchanged, what truly influences market volatility will be how Warsh defines inflation risk, whether he accepts short-term shocks from energy prices, and whether he establishes a new policy framework in his post-meeting remarks. In other words, the core of this FOMC meeting is not the interest rate outcome, but whether the market can gradually understand Warsh's future reaction function, as this will directly affect the repricing of global funds' risk premium for dollar assets.

At the corporate level, a shift in capital allocation strategies is also evident. Amazon's decision to scale back its internal AI models and concentrate resources on cutting-edge model research reflects a shift in AI competition from "model quantity" to "model quality and resource concentration." This signifies that large tech companies are beginning to prioritize capital efficiency over unlimited expansion of their R&D footprint. Market focus is increasingly shifting towards return on investment and cash flow efficiency, potentially altering the valuation logic of highly valued tech stocks.

On the other hand, the situation in the Middle East remains highly sensitive. Although the US and Iran continue to seek diplomatic solutions through third parties such as Oman, and Trump and Netanyahu signaled cooperation after their meeting, Iran's missile strikes on US military bases, Houthi attacks on Saudi oil tankers, and the dispute over the Strait of Hormuz all indicate that the conflict remains highly recurring. The market has not yet fully priced in the worst-case scenario, so every military clash could push up the risk premium for crude oil, further impacting inflation expectations and the Federal Reserve's policy space. OPEC+'s signal to maintain stable production levels until 2026 after September also means that supply will not increase significantly in the short term. If Middle Eastern supply is disrupted again, oil prices will be more susceptible to event-driven volatility.

It's worth noting that the South Korean KOSPI index has already corrected by more than 30% from its June high, indicating that Asian markets have taken the lead in adjusting to overvalued tech stocks and the global liquidity environment, a stark contrast to the relatively high levels still held by US stocks. If the Federal Reserve releases a more hawkish signal than the market expects, US tech stocks may face similar valuation pressures as those in Asian markets; conversely, if Warsh maintains the current interest rate stance and continues his "data-driven decision-making" approach, market focus will quickly return to corporate earnings reports and the validation of AI capital expenditures.

In the short term, what the global market is really waiting for is not an answer on interest rates, but whether the three main themes of policy framework, corporate profits and geopolitics can work together to drive down the currently high risk premium.

According to BlockBeats, on July 29th, as monitored by ai_9684xtpa, after Hynix's financial report was released, address 0xc8b…48891 added 1.817 million USDC as margin to Hyperliquid, and then opened a long position of 31,968.24 SKHX with 4x leverage, worth approximately $31 million, at an opening price of $981.91. Currently, the unrealized loss is approximately $401,000.

According to a Reuters report on July 29, BlockBeats reported that the Russian Federal Security Service (FSB) has accused Telegram founder Pavel Durov of aiding and abetting terrorist activities. An international arrest warrant has been issued.