Early this morning, the crypto market ushered in a strong rebound, with Bitcoin reaching its highest point at $67,380 and Ethereum also breaking through $3,540.
Altcoins as a whole also rebounded along with the broader market. Among them, the AI sector performed the strongest, with BONK, POPCAT, and TURBO all rising by more than 20%.
This time the market rose rather suddenly. Apart from the good news about the Ethereum spot ETF, there was no new good news.
The news worth noting is:
1. According to official information from the Chicago Board Options Exchange Cboe, five Ethereum spot ETFs including Fidelity will begin trading on July 23.
After the Ethereum spot ETF is launched, we can look forward to when the Ethereum pledged version of the ETF will be passed, which will benefit the projects in the entire Ethereum ecosystem.
2. On July 19, according to NBC News, the family of US President Biden began discussing Biden's plan to withdraw from the election. People close to the top of the Democratic Party also said that it is only a matter of time before Biden withdraws from the presidential election.
If Biden withdraws from the election, it will further increase Trump's chances of being elected.
Trump once said: The creation of central bank digital currency must never be allowed, and we must ensure that the CRYPTO revolution happens in the United States.
After Trump takes office, if the United States announces that it will use Bitcoin as a national strategic asset reserve, how much do you think the price of Bitcoin will be at that time?
3. Yesterday, Microsoft had a blue screen incident. Major banks, media, airlines, offices, hospitals and enterprises around the world suffered serious IT outages, which greatly affected the operation of enterprises and the normal life of users.
Microsoft said today that a global outage in its CrowdStrike security software has been fixed.
4. According to Spot On Chain monitoring, the total ETH holdings of the WazirX attacker have risen to 59,097, worth approximately US$201 million.
These tokens include 15,298 ETH that was directly stolen and 43,799 ETH obtained by selling various assets.
The attacker has not yet taken further action using ETH.
5. The US court approved Binance US to invest some of its customers' fiat currency assets in U.S. Treasury bonds.
Additionally, Binance.US must transfer cryptocurrencies to a third-party custodian that is not affiliated with the exchange.
This means that Binance.US can continue to manage the assets of existing U.S. users during the SEC case, can use these existing U.S. dollars to invest in U.S. bonds, and cannot have any connection with Binance.
This incident is beneficial to Binance US's funding issues, but has nothing to do with the Binance exchange.
6. IntoTheBlock published a post on the X platform stating that the total holdings of addresses with 1,000 or more BTC have reached the highest level in two years. This shows that large investors are optimistic about the trend in the second half of the year and are continuing to increase their holdings of Bitcoin.
7. It should be noted that Token Unlocks posted on the X platform that tokens worth $132 million will be unlocked next week.
Among them: ALT unlocked $104 million, ID unlocked $8.53 million, YGG unlocked $7.25 million, ENA unlocked $7.01 million, and AGIX unlocked $5.18 million. This may affect their short-term price trends.
8. According to on-chain analysts, the BananaGun treasury address received 800,000 BANANA, which may be in preparation for the Binance airdrop.
9. Scallop_io, a DeFi protocol in the SUI ecosystem, achieved revenue of over one million in a single quarter and launched a loyalty program for protocol users. Users will have the opportunity to receive more protocol revenue returns.
In general, short-term prices are determined by market sentiment. The current market panic and greed index has reached 74, indicating that market sentiment has returned to the level of greed.
With the Ethereum spot ETF officially going online for trading next week and the convening of the Bitcoin 2024 conference, market sentiment will be further boosted.
In terms of operating strategy, 80% of the long-term positions are held in coins waiting for appreciation, and 20% of the positions can be used to buy low and sell high based on market sentiment.
