A prominent trader says that if Bitcoin breaks through $83,000, it could trigger a short squeeze that would push the cryptocurrency to $95,000.

The U.S. annual inflation rate in July unexpectedly held steady, marking the 65th consecutive month it has remained well above the Federal Reserve’s 2% target. Disruptions from the Iran conflict have stalled the recent downward trend in inflation after it hit high levels, likely intensifying tense internal debates within the Fed over whether to raise interest rates or keep policy unchanged. Data released Wednesday by the U.S. Bureau of Economic Analysis (BEA) shows that the Fed’s preferred gauge—the U.S. July Personal Consumption Expenditures (PCE) price index—rose 3.7% year-over-year, matching June’s figure and coming in above the 3.6% analyst forecast. With trade talks between the U.S. and its second-largest trading partner Canada collapsing on Friday, a new wave of tariff-driven inflation pressure may be on the horizon. On a month-over-month basis, the July PCE price index rose 0.2%, also exceeding economists’ expectations. The index had fallen 0.1% month-over-month in June, its lowest level since April 2020. The BEA also revised second-quarter economic growth data, keeping the annualized growth rate of U.S. real gross domestic product (GDP) unchanged at 1.5%. (Jinshi)

The U.S. Personal Consumption Expenditures (PCE) price index, the Federal Reserve’s preferred inflation gauge, has been released. The annual PCE inflation rate stood at 3.7%, unchanged from June. Excluding the volatile food and energy categories, core PCE annual inflation hit 3.3%, also flat with June. Since the report incorporates other inflation data released earlier, PCE figures typically align closely with investor expectations. But as the Fed grapples with inflation, this report further clarifies the inflation landscape, and Fed Chair Walsh is set to deliver a key speech on Friday. U.S. CPI data brought good news in July: core CPI fell to a relatively moderate 2.5%. However, the PCE inflation rate assigns different weights to various spending categories, so its reading has consistently run higher. There remains significant uncertainty about how Walsh views the inflation challenge he has taken on. He has not included his own economic projections in the quarterly dot plot, which aggregates Fed officials’ outlooks for the economy and interest rates; nor has he signaled whether he might support additional rate hikes at upcoming meetings, an issue that has sparked divisions among Fed officials. (Jin10)

Market pricing indicates that expectations of a Federal Reserve rate hike have slightly risen, after U.S. government data revealed the Fed’s key inflation gauge rose 3.7% year-on-year in July, slightly exceeding economists’ forecasts. Interest rate futures data shows that following the data release, the market estimates the probability of a Fed rate hike in September at around 42%, up from roughly 36% before the data was published. (Jin10)

MiniMax disclosed at its mid-2026 performance meeting that its token consumption in July reached 20 times the level of January, Q2 revenue rose 81.8% quarter-on-quarter compared to Q1, and its August annual recurring revenue (ARR) further increased to over $800 million.

U.S. July core PCE price index rose 3.3% year-over-year, matching the 3.30% consensus estimate and the prior reading of 3.30%. The July core PCE price index posted a 0.2% month-over-month increase, in line with the 0.20% forecast, up from the prior 0.10%.

The U.S. revised annualized quarterly real GDP for the second quarter came in at 1.5%, matching the initial estimate and meeting market expectations.