Main Password: Over $163 million poured into the US spot BTC ETF market, with main traders trading $100 million betting on this direction

[SEC Releases Listing Standards for Crypto ETFs, Price Impact May Be Uneven] The U.S. Securities and Exchange Commission (SEC) has announced listing standards for cryptocurrency ETFs, with industry insiders believing this will drive market development. However, analysis suggests that price impacts may be uneven.

[Analyst: Bitcoin May Test the $120,000 Level] Bitbank analyst Yuya Hasegawa stated that after the Federal Reserve's rate cut, market risk appetite has increased, and improved technical sentiment may help Bitcoin test the $120,000 level. If this level is breached, the market may see a full correction. Traders are expected to take a week to digest the impact of the rate cut and will focus on changes in inflation and interest rates. Prediction market data shows that 72% of users expect the Federal Reserve to cut rates by another 25 basis points in October.

The crypto industry has entered the long slog of rule writing on the stablecoin law, and the Treasury is inviting input on how to deal with illicit activity.

[U.S. Treasury Seeks Public Comments on Stablecoin Regulatory Guidelines] The U.S. Treasury has initiated the formulation of implementation guidelines for the "GENIUS Act" and is seeking public comments through the "Advance Notice of Proposed Rulemaking" process. The guidelines cover topics such as issuer restrictions, sanctions compliance, anti-money laundering, taxation, and reserve asset custody. The public and crypto businesses can submit feedback by October 20. This marks a substantive step in stablecoin regulation and forms a complementary framework with the "Digital Asset Market Structure Clarity Act."

[Federal Reserve Governor: Tightening Policy Increases Risks to the Job Market] Federal Reserve Governor Milan stated that the longer the tightening policy persists, the more significant the risk impact on the job market becomes.