The US stock market continues to hit new highs, and Bitmine has purchased over 560,000 ETH in total.

Alphabet's strong performance and increased capital spending on AI continue to drive U.S. stocks to new highs. The number of initial jobless claims in the U.S. slightly declined, and the market expects The Federal Reserve (FED) to maintain interest rates unchanged next Wednesday (7/30). Bitcoin remains stable above 118K. The Ethereum reserve company Bitmine Immersion Technologies, led by Tom Lee, has raised its ETH holdings to 565,821 ETH, worth over 2.04 billion USD, once again becoming the world's largest ETH holder.

The Federal Reserve (FED) is expected to keep the Intrerest Rate unchanged next week, and Trump stated that firing Powell is not "necessary".

The number of initial jobless claims in the United States reported on Thursday slightly declined, with 217,000 claims for the week ending July 19, lower than the previous week's 221,000 claims and also better than the market estimate of 227,000 claims.

After a consecutive sixth week of decline in unemployment benefit applicants, traders have slightly reduced their bets on a rate cut in the US. The Federal Reserve (FED) will announce its interest rate decision next Wednesday (7/30), with as many as 97% of traders expecting the benchmark rate to remain unchanged at 4.25~4.5%.

U.S. President Trump and Federal Reserve Chairman Powell inspected the renovation of the Federal Reserve headquarters yesterday. Trump also took this opportunity to pressure the Federal Reserve again to cut interest rates. However, he pointed out that firing Powell is not "necessary."

JPMorgan: Funds Rapidly Flowing into Digital Assets

JPMorgan analysts stated that, driven by the movement of cryptocurrency funds, CME futures activity, and venture capital fundraising, capital inflows into digital assets have reached $60 billion so far this year. Since the end of May, the inflow of funds has grown by nearly 50% and is expected to easily surpass last year's record total.

Investor interest in altcoins is also on the rise. Analysts indicate that Ethereum has been the main beneficiary due to its dominance in DeFi and smart contracts, as well as the increasing number of companies incorporating ETH into their asset reserves. JPMorgan also pointed out that asset management firms are increasingly interested in launching crypto ETFs based on altcoins with staking components.

Bitcoin holds steady at 118K, Bitmine buys Ether again.

Despite a slight outflow of funds, Bitcoin still maintains the majority market share. Bitcoin is currently holding steady above 118K.

Ethereum has led a rebound in some altcoins, but the Altcoin Season index ( is below the 50 level ) currently at 42(, indicating that this is not a complete rotation of risk appetite.

Led by Tom Lee, the Ethereum reserve company Bitmine Immersion Technologies )BMNR( has boosted its ETH holdings to 565,821 ETH, worth over $2.04 billion, once again becoming the world's largest ETH holder.

This article reports that the US stock market continues to reach new highs, and Bitmine has purchased over 560,000 ETH in total. It first appeared on Chain News ABMedia.