đWhat happened in Crypto in the last 12h?đ
- The odds of a 50 bps rate cut by September have increased to 73.5%. Some are calling for an "emergency rate cut" before the meeting, but rate cuts in between Fed meetings are very rare.
âą The estimated "real number" liquidated from the crypto market in the past 24 hours is between $7-9 billion, making it the largest liquidation event since May 19, 2021. (Exchanges do not real full liquidation data)
âą Japan's Nikkei 225 surged over 10% at the open, rebounding after its largest 2-day drop in history.
âą Regarding US data, the focus is now on the job market. Initial jobless claims to be released this Thursday, although not typically market-moving, could influence market sentiment.
âą Bitcoin and Ethereum ETFs saw a massive $6 billion in trading volume during the August 5 market dip.
âą Spot ETH ETF inflows were positive for the day (>+$1.7M). Today marked the lowest Grayscale $ETHE outflow day, continuing the downtrend from the past few days.
âą Vitalik Buterin recently shared an optimistic outlook on interoperability projects. This ties into improving user experience, and $ZRO is seen as a first mover in this sector.
âą An OpenAI spokesperson stated that there are no plans to announce ChatGPT-5 at the DevDay scheduled for October. $WLD