Federal Reserve's Harker: May Temporarily Hold Rates Steady

According to Bitget data, South Korea's KOSPI index rose more than 1% intraday. SK Hynix gained over 3% after earlier falling more than 8%, while Samsung Electronics rose 4%.

According to an official announcement, Upbit will list DRV trading pairs against KRW, BTC, and USDT.

Garrett Jin, the representative of the "BTC OG Insider Whale", posted a statement noting that during a bull market, large-scale deleveraging events usually create favorable buying opportunities, citing South Korea's KOSPI index as an example.

The U.S. Department of Labor will release June U.S. CPI data at 20:30 Beijing time tonight, including unadjusted annual CPI (previous value: 4.20%, forecast: 3.80%), adjusted monthly CPI (previous value: 0.5%, forecast: -0.1%), as well as adjusted core CPI monthly rate and unadjusted core CPI monthly rate, which may trigger market volatility. Fed Governor Christopher Waller stated that if future data shows inflation remains far above the 2% target, the Federal Reserve may need to raise interest rates in the "near term". He noted that current monetary policy is at a "crossroads", with its direction to be determined by new information such as the CPI report released on Tuesday. If data trends turn unfavorable, the Fed is in a phase where it should not "slack off". Nick Timiraos, known as the "Fed's mouthpiece", said economists expect June's headline CPI to be pulled lower by falling energy prices, but core metrics are more important for the Fed. Core CPI is projected to be near May's 0.21% monthly rate; market focus will then shift to PPI and its implications for the PCE. Investinglive analyst Eamonn Sheridan forecast that U.S. June consumer price index will fall 0.2% month-over-month, the first decline since the pandemic, driven entirely by a 15% drop in gasoline prices from mid-May to the end of June. Annual inflation is expected to slow from May's 4.2% to 3.8%. Core CPI is seen rising 0.2% month-over-month, with annual core inflation edging down just from May's 2.9% to 2.8%.

According to Bitget data, South Korea’s KOSPI index has turned positive after earlier falling more than 5%. Samsung Electronics rose over 3%, while SK Hynix’s decline narrowed to 0.8%.

According to Bitget data, SK Hynix has reversed its earlier decline, now trading 0.7% higher after falling more than 8% earlier.