🆕24h crypto market overview
⏰Friday, July 12, 2024
♨️Overview:
The market continued to have another explosive trading session when the green color returned and the good CPI news made the market more excited. The S&P500 has a new peak, showing that the market is still directing capital flows to risky assets to earn better profits. Compared to Stock, crypto in general and Bitcoin in particular are still too small so the growth potential is still very good. According to JPMorgan, the crypto market is expected to recover in August, with liquidations expected to end by the end of July.
The market will look ahead to the Fed's September FOMC meeting in 3 weeks. According to CME, the rate of confidence that the FED will lower interest rates in September reached 77%.
♨️ETF Update:
▪️July 11: GBTC -653 IBIT FBTC ARKB +75 BITB +130 BTCO HOLD BRRR EZBC BTCW 🔴TOTAL -448 BTC
▪️July 10: GBTC -141 IBIT +383 FBTC +996 ARKB +98 BITB +81 BTCO +164 HOLD +57 BRRR +357 EZBC +546 BTCW 🟢TOTAL +641 BTC
🎯Week's focus:
▪️CPI Update: This period % I Expectation 3.1%I Previous period 3.3%
▪️Friday: PPI announcement
▪️Donald Trump posted on Truth that he is a Huge Fan of Bitcoin and will support Bitcoin in USD when he is elected.
❇️Top Increase/Decrease:
🟢$OM 9% 🔴$BONK 11%
🟢$AR 6% 🔴$RDNR 8%
🟢$NEAR 6% 🔴$ORDI 7%
🆕Hot News:
- SEC officially cancels investigation of Paxos, the company issuing BUSD. Last week the court ruled that BUSD is not a security👉CoinDesk
- Binance gradually removed support for TUSD👉Binance
- FTX objects to Jump Trading👉TheBlock's claim for $264M in damages
- Binance plans to reduce its stake in Gopax (Korea) from 72% to 10%👉Chosun
