The popularity of cryptocurrencies has turned, with Bitcoin and Ether rising to their highest levels since mid-May

4 min readAug 9, 2021


The number of new Covid cases in the United States rebounded to a six-month high in a city of 2.4 million people with only 6 ICU beds left:

The number of new Covid-19 cases in the United States has rebounded to an average of more than 100,000 cases per day, returning to the severe level of the winter epidemic six months ago. According to data compiled by Johns Hopkins University and Bloomberg, the number of new cases reached 750,000 a week by Friday, the highest level since February. The number of weekly cases in Florida is close to 135,000, a record high in the state, accounting for about one-fifth of the United States. Louisiana stated that with the spread of delta variants, 1% of its total population was infected in the past two weeks, especially among the unvaccinated.

U.S. employment growth accelerated in July, and the labor market took another step toward the Fed’s reduction target:

Employment growth in the United States in July hit the largest increase in nearly a year, and the unemployment rate fell, indicating that although there are challenges in hiring, the momentum of the job market has further strengthened. Data released by the US Department of Labor on Friday showed that non-agricultural employment increased by 943,000 in July, and the data in June was revised upward to 938,000. Economists surveyed by Bloomberg had expected a median increase of 870,000. The unemployment rate fell to 5.4% in July.

Dallas Federal Reserve President: Debt purchases should be carried out as soon as possible, and the gradual pace should be maintained:

Robert Kaplan, President of the Dallas Federal Reserve Bank of the United States, said that the Fed should reduce its asset purchase plan in a gradual manner as soon as possible. Large-scale debt purchases may lead to excessive risks. Kaplan said in an interview with Bloomberg TV Joe Weisenthal and Tracy Alloway this week, “I will support the adjustment of these purchase plans as soon as possible, but once the program is launched, I hope to proceed in a more gradual manner.”

After removing the Senate barrier, the final passage of the U.S. Huge Infrastructure Act may still be delayed until next week:

The $550 billion infrastructure bill that is critical to US President Joe Biden has cleared a procedural obstacle in the Senate, but opposition from at least one Republican congressman may delay the final vote until next week. Although the timetable is still uncertain, the results of the 67–27 pair’s vote to end the debate on the bipartisan compromise proposal hope that the bill will be finally passed. Previously, the White House had been negotiating with Republicans and Democrats for several weeks.

The European Central Bank Weidmann warned that inflation may rise faster than expected and urged the timely end of PEPP:

Jens Weidmann, a member of the European Central Bank Management Committee, warned that inflation in the euro zone may rise faster than expected and urged the bank not to delay bond purchase plans during the epidemic. According to a report published on Sunday by the Welt am Sonntag newspaper, Weidmann, who is also the governor of the Bundesbank, said in an interview that he would “urging to also pay close attention to the risk of excessive inflation, not just the risk of too low inflation.” He said: “It cannot be ruled out that the inflation rate will rise.”

The popularity of cryptocurrencies has turned, with Bitcoin and Ether rising to their highest levels since mid-May:

Although there are uncertainties in the rules of cryptocurrency in the US infrastructure plan, after a major upgrade of Ethereum, the prices of Bitcoin and Ethereum both reached their highest levels in more than two months. Bitcoin rose 4.1% on Saturday to $44,463, the highest level since May 18. Ether once rose by 6.9% to US$3,145, rising for the fourth consecutive day. The Ethereum network has undergone an upgrade of the codename “London”, which has reduced the pace of token generation.

Buffett’s Berkshire reduced the size of stock buybacks to $6 billion in the second quarter:

Warren Buffett is withdrawing some of the capital deployment strategies that he has favored in the past. According to the quarterly financial report, the billionaire Berkshire repurchased only US$6 billion in stocks in the second quarter, which was not only lower than the US$6.6 billion in the first quarter, but also the lowest level since the same period last year. He also net sold shares for the third consecutive quarter. This makes his cash reserves still as high as 144 billion US dollars, only slightly lower than the first quarter. Buffett has been facing a high-level problem in recent years: too much cash and too few opportunities.