In the past hour, total liquidations across the network reached $18.46 million, with $1.17 million from long positions, with $17.29 million from short positions. BTC liquidation $2.37 million, ETH liquidation $1.06 million.

According to Bitcoin News, Bhutan has transferred 300 bitcoins, worth $19.3 million, to a new address, according to Odaily Planet Daily.

The Federal Reserve's meeting minutes contained no mention of any support for interest rate cuts, indicating a significant shift in the Fed's policy discussions over the past year. At the beginning of last year, the market expected the Fed to be able to lower borrowing costs this year as inflation slowed. However, price pressures have continued to accumulate, especially after the Trump administration joined Israel in its war against Iran. Nearly six months into the conflict, oil and gas shipments through the strategic Strait of Hormuz remain restricted. Recent data shows a slight cooling in inflation, while businesses unexpectedly cut jobs in July, leading the market to expect the Fed to keep policy rates unchanged at its September 15-16 meeting. This data leaves Fed officials divided on whether a rate hike is needed to further curb inflation, but at the same time, officials are more cautious about the strength of the labor market and the risks to achieving the full employment goal. Because Warsh has consistently refused to discuss the path of monetary policy during his tenure, the market lacks clear guidance from the Fed Chairman. (Jinshi)

According to Odaily Planet Daily, the minutes of a Federal Reserve meeting revealed that Chairman Warsh proposed reducing the number of annual policy meetings of the Federal Open Market Committee (FOMC) from eight to six. The minutes stated, "The Chairman noted that scheduling six meetings per year, approximately every two months, would allow more information to accumulate between meetings than the current arrangement, while also giving policymakers and Fed staff more time to study and consider strategic issues related to monetary policy." Warsh then sought feedback from committee members on this idea. The minutes explicitly stated that the number of meetings would not be adjusted this year. Reducing the number of policy meetings would signify a significant change in how the Fed operates. (Jinshi)

According to Odaily Planet Daily, minutes from the Federal Reserve meeting showed that several officials favored raising interest rates last month, while many others stated that monetary policy would need to be tightened further if inflation failed to decline. However, uncertainty continued to significantly influence the Fed officials' judgments at the July meeting. The minutes stated: "Regarding the outlook for monetary policy, participants reiterated that their interpretation of future data would be a key component of policy discussions." The FOMC decided in July to maintain the benchmark interest rate in the range of 3.5% to 3.75% by a 9-3 vote. Logan, Hammark, and Kashkari voted against raising the rate by 25 basis points. Two other regional Fed presidents who did not have voting rights in July—Schmid and Mussallem—later stated that if they had voted, they would have supported raising rates at that meeting. Much of the policy discussion at the July meeting revolved around differing assessments of future inflation trends. The meeting minutes stated: "Most participants expected inflation to gradually decline over the remainder of the year as the effects of tariffs and previous energy price increases subsided; however, many participants noted that the possibility of persistently high inflation remained." (Jinshi)