BTC breaks through the $111000 mark

[Analyst: Easing expectations already priced in, rate cuts unlikely to drive Bitcoin rebound beyond $120,000] BlockBeats News, September 8, BTC Markets cryptocurrency analyst Rachael Lucas stated: 'The weak U.S. jobs report has indeed sparked expectations that the Federal Reserve may adopt a more dovish stance, which typically supports risk assets like Bitcoin. However, the market has already priced in a certain degree of policy easing. At the same time, we are seeing institutional investors taking profits, while ETF fund flows remain relatively stable. Bitcoin's resistance level is at $113,400, with further resistance at $115,400 and $117,100. Breaking through these resistance levels would indicate that the market has absorbed recent selling pressure and is ready to retest the highs.' Kronos Research Chief Information Officer Vincent Liu also stated that even if the Federal Reserve decides to lower interest rates, Bitcoin's price may remain subdued. 'Rate cuts could reflect economic weakness, while persistently high inflation and cautious risk sentiment limit risk appetite. Without stronger ETF inflows or genuine liquidity expansion, the $120,000 level will remain a difficult barrier to overcome.' (The Block)

[Chainlink CEO Meets with SEC Chairman to Advance Asset Tokenization Process] According to CoinDesk, Chainlink CEO Sergey Nazarov met with U.S. SEC Chairman Paul Atkins to discuss compliance pathways for asset tokenization. Nazarov stated that the SEC is accelerating efforts to integrate blockchain assets into existing securities regulations, with full compliance expected by mid-next year. Recently, the SEC and CFTC jointly issued policies supporting spot trading of specific crypto assets and launched the 'Project Crypto' initiative. The Chainlink network has already been utilized by the U.S. Department of Commerce to publish economic data, signaling an acceleration in the adoption of on-chain applications.

[A User Lost $180,390 After Signing an 'Approve' Phishing Transaction] According to a report by Jinse Finance, monitored by Scam Sniffer, a user lost $180,390 after signing an 'approve' phishing transaction.

**[Old Const Files Lawsuit Against Bitmain, Accusing Improper Contract Termination]** According to a report by Jinse Finance, a hosting service provider, Old Const, has filed a lawsuit against Bitcoin mining machine manufacturer Bitmain, accusing the company of improperly terminating the contract between the two parties. Old Const had purchased Bitmain's "HASH Supercomputing Server" and agreed to provide hosting services, claiming that Bitmain "fabricated alleged breaches of contract in order to immediately terminate the agreement." Additionally, Old Const accused Bitmain of threatening to seek a seizure order known as a "writ of replevin" outside the jurisdiction of Texas. Old Const argues that this move by Bitmain violates the "Hosting Service Agreement" signed by both parties in November 2024, which stipulates that any legal disputes should be resolved in Texas. Old Const is requesting the court to issue a temporary restraining order and injunction to prevent Bitmain from obtaining any seizure orders from courts outside of Texas.

OKX-ETH/USDT is currently trading at $4300.75, with a 5-minute increase of 0.23%. Please be aware of market fluctuations.