Bitget UEX Daily Federal Reserve releases sound signals of policy; flashy, American light lifts the AI plate but divides the United States; PCE inflation pushs up policy uncertainty

I. Hot spots

Federal Reserve Developments

Chairman, Federal Reserve, New YorkWilliams: The current monetary policy stance is sound, with inflation significantly above 2 per cent as an irrefutable fact

• According to Williams, tariffs, energy prices and AI investments are the main drivers of current inflation, which is expected to drop to about 3.5 per cent by the end of 2026 and return to the 2 per cent target by 2028; unemployment will fall to 4 per cent。
• He stressed that the current level of interest rates was sufficient to help return inflation to its target, but significant risks remained and policies needed to be flexible。
• Market impact: The Federal Reserve's expectation of maintaining higher interest rates for a longer period of time has been reinforced, short-term pressure-down interest-rate bets have been reduced, the dollar index has remained strong and risk assets have been under pressure。

Major international commodities

Iran and the Strait of Hormuz continue to ferment and test the US-Iraq ceasefire agreement

• Iran expects to receive approximately $40 billion per year in revenue from the Strait of Hormuz and has proposed a joint fee with neighbouring countries, while the Iranian Revolutionary Guards attack a Singapore cargo ship near the Strait to test the implementation of the ceasefire agreement。
• Context of the incident: the earlier conflict in the Middle East pushed up energy prices, thereby pushing up inflation in the United States; the ceasefire had led to a fall in oil prices, but the incident demonstrated the fragility of the agreement。
• Market impact: Short-term oil price undercut, but geo-determining still underpins energy marketsGoldThe risk-averse assets are subject to short-term swings of the dollar。

Macroeconomic policy

THE PCE PRICE INDEX ROSE TO 4.1 PER CENT IN MAY, THE FIRST BREAKTHROUGH SINCE APRIL 2023

• CORE DRIVERS INCLUDE ENERGY PRICE INCREASES RESULTING FROM THE MIDDLE EAST CONFLICT AND THE FORWARD EFFECTS OF THE TRUMP TARIFF POLICY; Q1 GDP UP TO 2.1 PER CENT, BUT LOWER PRIVATE DOMESTIC PURCHASING POWER SHOWS A WEAK CONSUMPTION DRIVE。
• Agencies forecast unemployment to rise to 4.7 per cent at the end of the year, with cautious recruitment。
• Market effects: inflation is sticky over expectations, adding to Fed officials' statements, market expectations of interest rate reductions during the year are further reduced, and the dollar and US debt yields are supported。

Market revisiting

large commodities & amp; foreign exchange performance

• Cash goldUS$ 4,021/ounce, -0.14%
• Cash and silverUS$ 57.40/ounce, -0.72%
• WTI CRUDE OILUS$ 71.70/barrel - 0.33%
• Brent crude oil: $75.20/barrel, -0.4%
• UNITED STATES DOLLAR INDEX (DXY)101.51, 0.02%

Driver analysisThe United States dollar index was maintained at a strong range near 101.5, which stemmed from the “higher interest rate longer” signal released by Fed officials and the stickiness of inflation data in the United States. While gold and silver are rebalancing in terms of dollar swings and risk bias, geographical uncertainty in the Middle East still provides some shelter. Oil prices have fallen slightly in the wake of the developments of the ceasefire in the Americas and the events in the Straits of Hormuz, and the market is expected to warm up supply recovery, but the fragility of the agreement has limited the space for decline. In the short term, the United States dollar movement and the Fed policy path remain the core variables for precious metals and energy prices, and it is generally accepted that if inflation data continue to exceed expectations, precious metals or maintain inter-zone shocks, oil prices will need to focus on the dynamics of geo-real progress and OPEC+。

Encryption Currency Performance

• BTC: US$ 59,595 - 2%
• ETHUSD 1,565, 3.25 per cent
• Total market value of encrypted currency$2.14 trillion, -1.4 per cent
• Market warehouse situation: 24h total blast warehouse of approximately $887 million, with multiple single detonation of approximately $691 million
• Bitget BTC/USDTLiquidation maps: THE CURRENT BTC PRICE IS ABOUT US$ 59,576 AND US$ 58,500-59,300 BELOW. OVER $60,000-62,500 THE CUMULATIVE EMPTY SETTLEMENT IS SIGNIFICANTLY LARGER, AND OVERALL LIQUIDITY REMAINS PRICE-ATTRACTIVE, BUT SHORT LINES NEED TO BE SECURED AT $59,000 TO AVOID EMPTY LEAD。

• NET INCOMING/OUTWARD SPOT ETF: BTC CASH ETF NET OUTFLOWS OF $414 MILLION YESTERDAY, $469 MILLION THE PREVIOUS DAY AND $997 MILLION FOR THREE CONSECUTIVE DAYS。

Driver analysisThe market is concerned that the Fed may be able to maintain higher interest rates for longer and that risk assets are generally under pressure. The leverage market has seen a clear multi-head silo, with a 24h silo amount approaching $900 million. The continuation of net outflows in the ETF financial landscape reflects a cautious institutional lookout in a highly volatile environment. The performance of ETH was relatively weak and somewhat polarized from that of BTC. On the technical side, the BTC needs to focus on the supporting effectiveness of $58,000 in the short term, which could lead to further testing of lower zones; above, it will require an effective breakthrough of $62,000 to open up the rebound space. In general, macro-uncertainty dominates short-term trends, and the institutional view tends to assume that the current adjustment is a normal return after a high valuation, subject to vigilance over the further fermentation of geography and policy risks。

United States equity index performance

• Finger: 51,920.62 (+0.14%)
• Pistol 500: 7,357.49 (-0.01%)
• Nut finger: 25,358.60 (-0.46%)

Technology giant dynamics

• NVDA$200, - 1.9 per cent
• AAPL: $275 - 6.1%
• MSFT: $357 - 3.5%
• GOOGL: $344, - 0.5 per cent
• AMZN$228 and 3.0 per cent
• META: $557 - 4.5 per cent
• TSLA: $376 - 6.1%
• MUUS$ 1,214 + 15.7%
• SPCXUS$ 150, +1.3%

Summary of performance and driver analysisTHE UNITED STATES SHARES SHOW A CLEAR PATTERN OF FRAGMENTATION, WITH THE SIGNIFICANT INCREASE IN AI INFRASTRUCTURE-RELATED MEMORY AND CHIP UNITS (OVER 15 PER CENT IN AMERICAN LIGHT, FLASHY, ETC.), REFLECTING THE MARKET ' S OPTIMISTIC EXPECTATIONS OF THE SUSTAINABILITY OF AI CAPITAL SPENDING; IN CONTRAST, CONSUMPTION TECHNOLOGY GIANTS SUCH AS APPLE, MICROSOFT, AMAZON, AND OTHERS, WHICH ARE SOLD OUT OF PRODUCT PRICE INCREASES, WITH APPLES FALLING BY OVER 6 PER CENT A DAY, THE LARGEST SINGLE DROP SINCE APRIL 2025. THE DRIVERS VARY SIGNIFICANTLY: THE MEMORY UNIT BENEFITS FROM THE STRONG DEMAND FOR HBM AND THE STORAGE CHIP FROM THE AI DATA CENTRE, AND CORPORATE PERFORMANCE SUCH AS AMERICAN LIGHT IS MORE THAN EXPECTED TO RAISE THE PLATE DIRECTLY; LARGE TECHNOLOGY UNITS ARE FORCED TO RAISE PRICES BECAUSE OF THE RAPID INCREASE IN THE COST OF STORING THE CHIP, RAISING MARKET CONCERNS ABOUT DEMAND ELASTICITY AND PROFITABILITY. OVERALL TABLET TRENDS INDICATE THAT THE AI THEME IS STILL FERMENTING, BUT THE HIGH-VALUATION CONSUMER SCIENCE AND TECHNOLOGY UNIT IS UNDER COST-DRIVE PRESSURE, WITH INSTITUTIONAL PERCEPTIONS THAT THIS FRAGMENTATION WILL CONTINUE AND THAT FUNDING FAVOURS THE AI SUPPLY CHAIN UNITS WITH HIGH PERFORMANCE VISIBILITY。

Encrypted market stock derivativesOverview

• 24H TOTAL$20,199 million (4.77 per cent)
• Master$5,571 million (+ 1.78 per cent)
• IT'S 24H$30,948.86 million
• Share of turnover: 8.85%
• Share of holding: 5.37%
• As a percentage of the blast chamber: 3.48%

The plate holds

• Biotechnology1.7296 million
• Consumption$7.910.9 million
• Industry$2.664 million
• Finance$153 million
• Technology$2.893 billion

3.Market heat

Maximum hold/heat scale:

• SPCX:$745 million
• MU:$571 million
• SKHX:$463 million
• SNDK:$357 million
• NVDA:$233 million

Plank Instant Observation

MEMORY AND AI CHIPA HUGE INCREASE OF OVER 15 PER CENT AND CONTINUED FERMENTATION OF THE AI INFRASTRUCTURE THEME, IN SHARP CONTRAST TO THE CONSUMER SCIENCE AND TECHNOLOGY UNIT

• REPRESENTING UNITS: U.S.U.+15.74%, MOODY ' SSandiskI'm sorryWDC+21% +, application materialAMAT+13% +

• Driver analysis: Quarterly performance in the United States of America was significantly higher than expected and adjusted upwards throughout the year, centred on the surge in demand for high bandwidth memory (HBM) from AI training and reasoning. The current single HBM3/HBM3E capacity and bandwidth is several times higher than the previous generation, and the new generation of GPUs like NVIDIA Blackwell is three to eight times higher than the previous generation ' s demand for HBM, resulting in continued global strain on HBM capacity. As a small number of manufacturers with HBM mass and design capabilities, the order visibility has increased significantlyASPUPWARD, DIRECTLY DRIVING MĀORI RATE EXPANSION AND PROFIT EXPECTATIONS. SEMICONDUCTORS SUCH AS APPLICATIONS BENEFIT FROM CAPITAL EXPENDITURES RESULTING FROM ADVANCED SEALING, 3D STACKING AND THE EXPANSION OF MEMORY LINESWestern DigitalTHE STORAGE PLANT IS ALSO RISING BECAUSE OF THE NEED FOR HIGH-SPEED NAND FLASH MEMORY IN THE AID DATA CENTRE。

  This increase contrasts sharply with large consumer shares of technology (e.g. apples, Microsoft, price increases due to surges in storage costs, and sales), highlighting the market's differential pricing of “AI capital expenditure with high certainty ROIC” and “consumption demand elasticity”. Even in May, when PCE inflation rose to 4.1% the same time, and Federal Reserve official Williams released a “higher interest rate” signal at a macro level, the AI-related supply chain was considered a non-discretionary (non-optional) growth track, with continued inflows of funds to pure AI enablers. The institutional view is that if the capital expenditure direction is maintained robustly (historical data indicate high AI ROI visibility), the excess returns on memory and equipment plates may continue until 2027; however, there is a need to guard against the risk of slowing overall science and technology expenditure if macro-data deteriorate or geo-risk escalation continues. In the short term, there is a certain profit-making pressure on the panels, and attention is being paid to the batching opportunities in the backsliding and to the validation of Q3-capable slope data。

III. In-depth interpretation of United States shares

1.Micron Technology- OVER-ANTICIPATED DEMAND FOR AI MEMORY CONTRIBUTED TO HIGH PERFORMANCE

Summary of events• QUARTERLY FINANCIAL DISCLOSURE BY AMERICAN LIGHT TECHNOLOGY, WITH REVENUES AND PROFITS SIGNIFICANTLY EXCEEDING MARKET EXPECTATIONS, MAINLY DUE TO THE HIGH BANDWIDTH MEMORY (HBM) OF THE AI DATA CENTREDRAMSTRONG DEMAND. CORPORATE MANAGEMENT HAS ADJUSTED THE YEAR-ROUND GUIDELINES, AND MARKET CONCERNS ABOUT THE AI CAPITAL EXPENDITURE CYCLE HAVE BEEN CONSIDERABLY EASED。Market interpretation: A NUMBER OF INVESTMENT BANKS HAVE INCREASED THEIR TARGET PRICES TO CONSIDER THAT AI INFRASTRUCTURE IS STILL AT AN EARLY STAGE, THAT THERE ARE CLEAR TRENDS IN THE UPTURN IN MEMORY CYCLES AND THAT SUPPLY CONSTRAINTS WILL SUPPORT PRICES AND MĀORI RATES. SOME AGENCIES POINTED OUT THAT MIYUKI WAS LEADING BY PEERS IN THE HBM AREA AND WAS THE CORE BENEFICIARY OF THE CURRENT ROUND OF AI WAVES。Investment revelation: THE MEMORY AND STORAGE LINKS UNDER THE AI THEME ARE STILL RELEVANT AND IT IS RECOMMENDED THAT ATTENTION BE GIVEN TO THE VISIBILITY OF PERFORMANCE AND THE PACE OF EXPANSION OF CAPACITY。

2.Apple- The sharp increase in the cost of storage chips has prompted market concerns for product price increases

Summary of events: Apple experienced “unprecedented” price increases for storage and memory chips due to the demand for the AI data centre and announced price increases of up to $300 for product lines such as Mac and iPad. At the same time, the company adjusts its chip strategy, skips parts of the M series and prioritizes the development of the AI optimization architecture。Market interpretation: Market concerns that price increases may inhibit demand elasticity, especially in a context where consumer e-recovery is not yet stable. The institutional perspective is divided: it is seen in part as a necessary measure under cost pressures to improve Māori rates over the long term, while others point to high-price strategies or accelerated loss of users to the Ando camp, with short-term stock pressure reflecting caution about demand prospects。Investment revelation• FOCUS ON FEEDBACK ON DEMAND FOLLOWING THE DOWN-TO-GROUND PACE AND PRICE INCREASES OF APPLEAI HARDWARE, AND ON POST-REFERRAL CONFIGURATION OPPORTUNITIES IN SHORT-TERM FLUCTUATIONS。

3. Western Digital - AI Storage Demand Driver NAND/SD Share Increase

Summary of events: Western Digital (WCC), as representative of the storage block, has risen significantly as the light's performance exceeded expectations, and the market has recognized its direct beneficial position in the AI Data Centre expansion。Market interpretation: The Agency believes that there has been an exponential increase in the demand for NAND and SSD at the enterprise level for AI training and reasoning, and that Western Digital has benefited fully from the expansion of data centre storage capacity by virtue of its share and product mix in this area. Supply-side expansion is prudent and price elasticity provides an upward space for profit。Investment revelation: Focus on Western Digital quarterly stock levels and ASP trends as an AI theme satellite holdout, complementing the Core Memory Unit。

I'm sorry.Coring- Accelerated demand for data centre interconnected materials

Summary of eventsOther OrganiserGLWDATA CENTRE MATERIAL VENDORS, FOR EXAMPLE, HAVE BENEFITED FROM THE ACCELERATED DEPLOYMENT OF THE AI SERVER AND THE SYNCHRONIZED UPGRADING OF FIBRE-OPTIC AND GLASS BASE PRODUCT REQUIREMENTS。Market interpretation: The demand for high-speed connectivity in the AI data centre has contributed to the growth of orders for the Corning fibre-optic solution, which the agency considers to be an essential complement to the construction of the AI infrastructure and which continues to be distributed as the server expands。Investment revelation: Corning is suitable as an indirect beneficiary of AI capital expenditure, with a focus on tracking the validation signal for data centre capital expenditure。

5.BlackBerry- EDGE CALCULATION AND SECURITY LAYOUT AND COOPERATION WITH INGWEIDA HAS ATTRACTED THE ATTENTION OF THE AI MARKET

Summary of events: BlackBerryBBTHROUGH ITS LONG-STANDING ACCUMULATION IN THE FIELD OF MARGIN COMPUTING AND SECURITY, ADDITIONAL ATTENTION HAS BEEN GIVEN TO AI THEMATIC DISCUSSIONS, IN PARTICULAR AS AI ' S DEPLOYMENT HAS EXPANDED FROM CLOUD TO EDGE, AND ITS QNX SECURITY OPERATING SYSTEM HAS FURTHER HIGHLIGHTED THE APPLICABILITY OF THE SOLUTION THROUGH DEEPER COOPERATION WITH INGWEIDA。Market interpretation: The AI-driven security platform support BlackBerry, such as Cylance, cuts into the IOT security market to provide real-time threat detection and protection support for distributed data centres, autopilot terminals and industrial goods networking devices. The extended integration (covering robotic, medical and industrial systems) of the QNX Safety OS and British IGX Thor platforms for the construction of a security-critical, borderline AI unified platform is in line with the industry trend for the migration of AI applications from centralized training to marginal reasoning. The agency believes that BlackBerry ' s end-to-end security capabilities have a differential competitive advantage and are expected to occupy a place in the full chain of AI infrastructure in a context of tighter data privacy regulation and frequent cyberattacks. Although the core business transformation remains a challenge, the growth potential of the AI security track and the Weeda partnership has been recognized by analysts。Investment revelation: BlackBerry can be used as an aid to AI safety and margin calculations, and investors need to focus on tracking their progress in working with Weeda, the location of contracts in the Iot/AI secure market, partner dynamics and changes in quarterly revenue contributions; fit with pure AI hardware/store to spread single thematic risks in the portfolio, with attention to the impact of macro-interest rate environments on their valuation restoration。

project & market dynamics

ETHERWOOD TREASURY, 8 MONTHS FROM NOWSharplinkThe increase was restarted today and 5,000 ETHs (US$ 7.85 million) were received from FalconX six hours ago. It currently holds 876,000 ETH ($1.37 billion) at an average cost of $3609, leaving a deficit of $1,789 million (56 per cent)。

2. Strategy Priority Unit for SustainabilitySTRCTHE 90-DAY CORRELATION WITH BITCOIN PRICES HAS RISEN TO NEARLY 0.70, THE HIGHEST SINCE THE PRODUCT WAS INTRODUCED IN JULY 2025. STRC FELL BY 23 PER CENT TO $76 THIS MONTH AND THE BTC PRICE FELL BY ALMOST 20 PER CENT TO LESS THAN $60,000, BOTH OF WHICH WENT DOWN AT THE SAME TIME。

3. BlackBerry (BlackBerry), once known as a physical keyboard phone, has quietly been transformed into a key software layer provider for "physical AI" and robotic ecosystems, and its QNX software framework is referred to as an autonomous machine nervous system called "never crash"NvidiaandAMDThey provide a secure, reliable and definitive real-time operating system for smart cars and storage robots。

4 In response to CoinDesk, it was reported that the Kraken parent company Payward was negotiating the acquisition of 15 per cent of the shares in the Aave Agreement at a value of $385 million (only equivalent toAAVE30% of the token FDV) Aave's founder, Stani Kulechov, replied on platform X, “We will never sell AAVE at a 70% discount” and pointed out that CoinDesk's story was inaccurate。

In a post published by MulticoinHyperliquidThe current price of the original coin, HYPE, is seriously underestimated by the market. Multicoin gave an HYPE target price of $319 for 2028 under the base scenario, by which time it is expected that Hyperliquid ' s annual revenue will be about $8 billion, based on a 20-fold gain. Multicoin disclosed that it had been actively buying hype since February and was now one of the largest holding blocks for its liquidity hedge fund。

SixTDCowen Analysts indicated that if SpaceX was unable to reach a network sharing agreement, it could accelerate its wireless operations layout by acquiring T-Mobile. T-Mobile andStarlinkExisting partnerships are strategically coherent. The idea was purely speculative, but highlighted the growing competitive pressure of SpaceX on the telecommunications sector。

7 Based on the current price of US$ 59,600 in bitcoin and US$ 75,821 in fixed investment cost of 200 days (C200), the Ahr999 bottom-down indicator is approximately 0.287, which is extremely undervalued; the lower point during the year is 0.27 as at 6 February 2026. Statistics show that Ahr999 is below 0.3 as a very rare signal, usually only at the bottom of a systematic panic or bear market. Historically, this indicator fell to 0.3 during the early 2011 market, in 2018, at the bottom of the bear market (at a minimum of about 0.24), in 2020, and in 2022, during the liquidation of the FTX and ETH chain。

V. Today ' s market calendar

Data release schedules

The big news

• Officer Fed speakingSeveral officials, such as the Chairman of the Chicago Federal Reserve, Goolsbee, may speak, and the market is interested in its latest statement on the path to inflation and policy。

Institutional perspective:

Combining the last 24 hours of U.S. stock, precious metalscrude oilThe mainstream investment and strategists are cautiously optimistic about the movement of foreign exchange and encrypted currency. The signal released by Fed officials, Williams and others, that “the current policy stance is appropriate, inflation targets are targeted or extended to 2028” has been interpreted by the market to mean that interest-rate reductions in the year may be less than previously anticipated and that the dollar and US debt-revenue rates are supported. The “higher interest rates” narrative was reinforced by over-anticipation in inflation data (PCE 4.1 per cent), but the strong momentum of AI capital spending underpinned the structural opportunities of the United States equity, a logic confirmed by memory and the performance of the chip unit. While the short-term charge of precious metals and encrypted currencies is charged against the strength of the United States dollar and fluctuations in risk preferences, it is generally accepted that the current range of adjustments already partly reflects macro-uncertainities and long-term configuration values. Some of the strategy reports indicate that if the geo-situation situation is further eased and inflation data are not sustained beyond expectations, risk assets or phase restorations are expected; conversely, caution is needed against the chain effects of the further strengthening of the dollar. Overall, markets are transitioning from a “lax expectation” to a “data validation” phase, and structural fragmentation will become the dominant melody for some time to come。

DISCLAIMER: THE ABOVE IS COLLATED BY AI, MANUALLY ISSUED ONLY FOR VALIDATION AND IS NOT RECOMMENDED FOR INVESTMENT. FOR UNAVOIDABLE DEVIATIONS IN THE TEXT, PLEASE REFER TO MARKET INSTANTANEOUS DATA。