Walsh: AI Opportunities Pose Challenges for Policymakers

According to market data from BIT (bit.com), IBM (IBM.N) plunged 23%, marking its largest single-day intraday drop since 1987. Earlier reports noted that IBM’s preliminary second-quarter revenue stood at $17.2 billion, against market expectations of $17.86 billion.

Analyst Justin McQueen said that after Federal Reserve Governor Christopher Waller delivered a hawkish speech on Monday, hinting he would support a near-term interest rate hike if core CPI came in strong, U.S. June inflation data released on Tuesday sent a clear dovish signal. The data showed core CPI was flat month-over-month, below market expectations of a 0.2% rise; the year-over-year increase stood at 2.6%, also missing forecasts. This outcome has significantly reduced the urgency for the Federal Reserve to raise rates further in the short term. In terms of market pricing, expectations for a July rate hike have cooled notably. The implied probability of a July rate hike in interest rate markets has fallen to around 15%, almost back to the level before Waller’s speech, meaning investors have nearly ruled out a July rate hike. While this does not mean the possibility of further policy tightening within the year has completely vanished, the threshold for the Fed to raise rates again has risen significantly. Analysts believe that unless the Middle East situation escalates, disrupting energy supplies again and driving a sharp rise in oil prices to reignite inflationary pressures, the Fed is more likely to keep rates steady for the coming period, with the likelihood of a near-term rate hike having dropped sharply.

According to market data from BIT (bit.com), IBM’s stock price decline has widened to 26%, marking its largest single-day drop in history.

According to monitoring by Onchain Lens, Grayscale transferred 852.7 BTC to Coinbase Prime, worth approximately $54.4 million.

According to HTX market data, Bitcoin has rebounded to break through the $64,000 mark, currently trading at $64,001, with a 2.49% increase in the past 24 hours.

According to Lookonchain’s monitoring, after losing $46.46 million shorting HYPE, prominent Hyperliquid trader Loracle opened new positions today: long SKHX and short crude oil. His profit and loss trajectory has been a rollercoaster: he once hit a peak profit of $42.87 million, then flipped to a $17.27 million loss, and has now rebounded to an overall profit of $2.06 million.