On Tuesday, Powell spoke dovishly at the ECB forum, and the Nasdaq once again stood above 18,000 points, up 0.7%. The addresses marked as Germany and the United States are still selling, affecting short-term prices, waiting for the negative impact (Germany, the United States, and MtGox sales) to be exhausted.

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Mark Uyeda, a member of the U.S. Securities and Exchange Commission, issued a statement on the registration rules for index-linked annuities and registered market value-adjusted annuities. He called for an update to the S-1 form to better accommodate the uniqueness of cryptocurrencies. This was Uyeda's first public call for a disclosure system tailored for crypto assets. Coinbase (COIN.O) said it would provide cryptocurrency custody services to the U.S. Marshals Service. Coinbase Chief Policy Officer Faryar Shirzad said the focus of support for the cryptocurrency PAC is the U.S. Congress. The U.S. Department of Justice (DOJ) paid Coinbase $32.5 million to use its custody and trading services to dispose of confiscated cryptocurrencies. CoinShares' weekly report showed that digital asset investment products had outflows for the third consecutive week last week, totaling $30 million. According to ali_charts data, miners sold more than 2,300 BTC worth about $145 million in the past 72 hours. Arkham data showed that the address marked as "German government" yesterday transferred 1,500 BTC to a centralized platform. The German government currently holds 44,692 BTC. Arkham data shows that the wallet address marked as "US government" yesterday transferred 3,375 ETH to the address starting with 0x5aC4. Nate Geraci, president of The ETF Store, said that BlackRock acquired Preqin, an asset/private market data provider, seeking to use this data to eventually create an ETF. Tom Lee, co-founder of Fundstrat, insisted that BTC will reach $150,000, and said that the MtGox suspense will disappear in the second half of the year. BTC is still in the early stages of the upward cycle. The idea that it may reach $150,000 this year is still within the agency's basic assumptions, and explained that this forecast is based on changes in the US macroeconomy. James Butterfill, head of research at CoinShares, said that recent outflows have "reduced significantly" and there are signs that BTC's market sentiment is shifting. Compared with the overall net outflows in the previous two weeks, most crypto investment product providers had lower outflows last week, with net inflows of US products leading the way, reaching $43 million, and net outflows of funds in other regions totaling $79 million.

Yesterday, the US BTC spot ETF had a net inflow of $129 million, with net inflows for 5 consecutive days. Fidelity FBTC had a net inflow of $65 million; Bitwise's BITB had a net inflow of $41 million; Grayscale GBTC and BlackRock IBIT had an outflow/outflow of 0. Among the top 100 addresses with the most BTC, 44 addresses have never had a transfer record. These 44 addresses hold a total of 1,350,707 BTC, worth about $85 billion. The U.S. Securities and Exchange Commission has confirmed receipt of the 196-4 application for Hashdex NasdagCrypto llndex US ETF, which will hold spot BTC and ETH at the same time. Falconx analyst David Lawant pointed out that the premium of BTC on Coinbase has dropped to the lowest negative level since the collapse of FTX. Such negative readings usually appear at local bottoms in prices and foreshadow subsequent increases. For example, in November 2022, the price of BTC rose by more than 50% in a few months after bottoming out. According to CryptoQuant data and analyst opinions, BTC hashrate has fallen to its lowest level since the FTX crash in December 2022, indicating that BTC prices may have bottomed out. Other indicators such as exchange reserves and miner position index also show low selling pressure, supporting the view that the market has bottomed out. The Grayscale research team said in a statement that the selling pressure in June came from multiple sources such as the MtGox bankruptcy legacy, the German government liquidation, the US government sale, and miners' reduction of holdings. Although short-term liquidity has affected BTC prices, the fundamentals of the asset have not changed much. It is expected that the spot ETH ETF will begin trading in the third quarter of 2024. If there is no major shift in the macroeconomic outlook, cryptocurrency valuations will recover in the coming months. The macro background still supports the crypto asset class. On Tuesday, Powell spoke dovishly at the ECB forum, and the Nasdaq once again stood above 18,000 points, up 0.7%. After the rebound of the big cake, the addresses marked as "German Government" and "US Government" continued to sell BTC and ETH, which became bearish, affected prices, and continued to grind the bottom. The short-term market is of little significance. Wait for the negative impact (Germany, the United States, MtGox sales) to be exhausted, and wait for the next wave of interest rate cuts in September, November, and December. #比特币是否有望达到新的峰值