On Wednesday night, the U.S. stock market opened, the Nasdaq fell 3%, the S&P 500 fell 1.8%, and the gold price rose 0.2%. According to a Reuters survey, 73 of 100 economists expect the Federal Reserve to cut interest rates by 50 basis points in 2024, 13 believe that the interest rate will be cut by 25 basis points, and 3 believe that there will be no interest rate cut. Cointelegraph reported that in 2024, the inflow of BlackRock's big pie ETF IBIT has exceeded the inflow of the "Seven Sisters of U.S. Stocks" (Microsoft, Apple, Tesla, Amazon, Meta, Alphabet and Nvidia) stocks, which is a puzzling inflow.

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Tom Emmer, the majority whip of the U.S. House of Representatives, said at a hearing of the House Financial Services Committee that as technology continues to mature, digital assets and artificial intelligence may form a "symbiotic relationship" in the future. The connection between artificial intelligence and digital assets is inevitable. The integration of blockchain and artificial intelligence can not only improve the credibility of data, but also the decentralization of artificial intelligence data can alleviate the single point failure security problem. Jupiter Zheng, partner of Hlashkey Capital Liquid Fund, said that the outflow of funds from the Grayscale ETH Trust Fund may put pressure on the price of ETH after the launch of the ETF, and it may also suppress market sentiment in the short term, just like the BTC ETF, investors may move to options with lower fees. Citi upgraded Coinbase's rating from neutral to buy due to improved regulatory risks, and raised its target price from $260 to $345. Wintermute expects that the BTC ETF will accumulate about $32 billion by the end of the year. CryptoQuant founder Ki Young released data saying that on July 23, the inflow of ETH long-term holder addresses reached a record high of 714,000 ETH. BlockFi completed the sale of FTX claims and prepared for the final creditor distribution. BlockFi reported the sale to the New Jersey Bankruptcy Court in the United States. CryptoQuant analyst Axel Adler Jr said that on-chain data showed that the number of BTC deposit addresses on exchanges had dropped sharply to a low of 25,000, which may indicate a shift in investors' strategies for holding BTC. From a behavioral economics perspective, the current trend may reflect the increased confidence of BTC investors, and this change in behavior may be driven by factors such as increased institutional investment in cryptocurrencies.

Robert Kiyosaki, author of Rich Dad Poor Dad, predicts that if Trump is re-elected, the dollar will weaken, leading to higher prices for gold, silver, BTC and other assets. By August 2025, gold will rise from $2,400 per ounce to $3,300, silver will rise from $29 per ounce to $79, and BTC will rise from $67,400 to $105,000. At the close of July 23, the first day of listing of nine ETH spot ETFs in the United States, net inflows of $106.6 million. Among them, Grayscale ETHE outflowed $480 million, BlackRock ETHA inflows $266 million, Bitwise ETHW inflows $204 million, Fidelity FETH inflows $71.3 million, Franklin EZET inflows $13.2 million, etc. The nine ETH spot ETFs had a cumulative trading volume of $1.019 billion on the first day of listing on US exchanges. Among them, Grayscale ETHE led with a trading volume of $456 million, accounting for nearly half of the total trading volume; BlackRock ETHA had a trading volume of $240 million, accounting for 24%; and Fidelity FETH had a trading volume of $136 million, accounting for 13%. In contrast, the trading volume of the BTC spot ETF on its first day of listing in January this year was $4.6 billion. Haseeb Qureshi, managing partner of Dragonny, said that the opening trading volume of the ETH spot ETF was very strong, but the price of ETH did not change significantly because Grayscale's ETHE was mainly selling, which would offset a lot of the first day's capital inflows. On July 24, 3 hours after the opening of the U.S. stock market, Fidelity FETH's address increased its holdings by 20,500 ETH. Bloomberg ETF analyst Eric Balchunas said that the net inflow of the ETH ETF in the first year is expected to reach $5-6 billion (about 20% of the inflow of the BTC ETF), with BlackRock and Fidelity being the first choice for most assets.

BlackRock's BTC spot ETF IBIT has seen more inflows this year than the QQQ ETF tracked by Nasdaq. BlackRock IBIT reported that its BTC spot ETf inflows reached $526.7 million on July 22, the highest single-day inflow since March. Cointelegraph reported that in 2024, the inflows of BlackRock's BTC ETF IBIT have exceeded the inflows of the "Seven Sisters of US Stocks" (Microsoft, Apple, Tesla, Amazon, Meta, Alphabet and Nvidia) stocks, which may push the BTC price to $88,000 by September. IBIT has accumulated nearly $19 billion in BTC so far this year. Jeroen Blockalnd, founder of Blockland Smart AssetFund, said that this puzzling inflow of funds is greater than the inflows of the "Seven Sisters of US Stocks" stocks in 2024, which is more than Invesco's Nasdaq 100 ETF, including the hyped seven stocks and the artificial intelligence craze. In addition, Fidelity's spot BTC ranked 11th, bringing in $10 billion in inflows. Strategist Donald Hagan said that drawing on the experience of the past 17 interest rate cut cycles, the S&P 500 index rose an average of 14% in the year after the Fed's first rate cut, and investors pushed up corporate valuations after the Fed's first rate cut. According to a Reuters survey, 73 of 100 economists expect a 50 basis point rate cut in 2024, 13 believe that the rate cut will be 25 basis points, and 3 believe that there will be no rate cut; 70 of 100 economists believe that the Fed will cut interest rates by 25 basis points in both September and December; analysts raised their forecasts and believed that gold prices are expected to hit new highs in the coming months, with an average price of $2,445 expected in the fourth quarter of 2024.

On Wednesday night, the U.S. stock market opened, the Nasdaq fell by 3%, the S&P 500 fell by 1.8%, the gold price rose by 0.2%, Bitcoin rose by 0.6%, and Ethereum rose slightly by 0.2%. Bitcoin led the correction of the U.S. stock market and has now performed steadily. On July 24, MtGox creditors said they had received compensation, and Grayscale's ETH outflow was obviously weaker than the outflow of its Bitcoin spot ETF on the first day of listing. Spot ETFs such as BlackRock and Fidelity are flowing in. BlackRock's BTC spot ETF IBIT has accumulated $19 billion in BTC this year, and the amount of inflow has exceeded the QQQ ETF tracked by the famous giant Nasdaq in the U.S. stock market, which is puzzling. After digesting the negatives such as MtGox and ETH spot ETFs and the sale of Germany and the United States, the Federal Reserve will hold a meeting on interest rates on July 30-31. At this meeting, Powell is likely to be dovish, paving the way for a rate cut in September. I hope Bitcoin can keep up with the rise of the U.S. stock market in the next wave. #美国以太坊现货ETF开始交易 #比特币大会 #美国大选如何影响加密产业？