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According to BlockBeats, the U.S. Department of Commerce has announced the inclusion of 407 product categories in the steel and aluminum tariff list, with a tax rate of 50%. The announcement was made on August 19, local time.The Commerce Department's statement highlighted the extensive range of products affected by the new list. These include wind turbines and their components, mobile cranes, railway vehicles, furniture, compressors, and pump equipment, among hundreds of other items.

Bitcoin (BTC) risks a deeper pullback as technical breakdowns and whale activity align with bearish reversal patterns.Bitcoin has corrected nearly 8% from its all-time high above $124,500 set just four days ago, now trading at around $114,969. Analysts warn the flagship cryptocurrency may face further downside pressure after confirming a rising wedge breakdown on the daily chart.Technical Breakdown Points to $88K–$94KCrypto analyst Captain Faibik noted that Bitcoin has broken below the wedge’s support line, a classic bearish reversal pattern often preceding sharp declines.Immediate support: $110,000–$112,000Next zone: $105,000–$108,000Psychological level: $98,000–$100,000Full wedge breakdown target: As low as $88,000Losing the $110,000 range could accelerate selling pressure, pushing BTC toward deeper support levels by September.Double-Top Scenario Echoes 2021On the weekly chart, analysts at Swissblock flagged a potential double-top formation, similar to the 2021 cycle that triggered a 77% drawdown.Key level: $94,750 (50-day EMA support)Upside invalidation: Holding above the 50-day EMA and rebounding toward $125,000Failure to reclaim the upper wedge trendline may cement the bearish case, raising the likelihood of a deeper retracement.Whale Activity Adds Selling PressureOn-chain data from Glassnode shows significant whale distribution:Mega whale addresses (10,000+ BTC) have fallen to their lowest in 2025.1,000–10,000 BTC wallets are also declining, reflecting profit-taking.This sustained selling from top holders aligns with weakening technicals, adding weight to bearish targets.Macro Outlook: Fed Rate Cut May Offer ReliefUnlike 2021, when the Fed began tightening, this cycle could benefit from monetary easing. CME FedWatch data suggests a 25-basis-point cut in September, potentially boosting liquidity and offsetting near-term weakness.Some analysts still forecast BTC could reach $132,000–$170,000 in the coming months, provided liquidity conditions support risk assets, according to Cointelegraph.Key TakeawayBitcoin’s technical breakdown and whale-driven selling hint at potential downside toward $88K–$94K. However, a Fed rate cut and expanding money supply could sustain BTC’s long-term bullish trajectory, despite short-term volatility.

According to Foresight News, the Executive Director of the Intermediaries Division at the Hong Kong Securities and Futures Commission, Yeh Chi-hang, has cautioned investors about companies inflating their stock prices under the guise of applying for stablecoin licenses. Yeh advised investors to remain rational and vigilant against potential scams.

He disclosed that in the first half of this year, the commission received 265 complaints related to virtual asset transactions. These complaints primarily involved overseas fraud, platform violations, or frozen funds. Yeh also warned about the risks associated with trading on unlicensed platforms.