Topics related to the US president still have a positive impact on the market. This week, a highly anticipated event, the 2024 Bitcoin Conference, will be held in Nashville from July 25 to 27. This has attracted the participation of many heavyweights, the most notable of which is former President Trump. Democratic Party Biden has announced his withdrawal from the election, so Trump seems to have a higher chance of being elected. Trump's speech at the conference may have a profound impact on the market, so we must pay close attention to his remarks. At the same time, in the past two days, Ma suddenly changed his Twitter image and replaced his profile picture with laser eyes. This move has caused widespread speculation. Given that the 2024 Bitcoin Conference is about to be held, it may indicate that Musk is expressing his support for Trump. I think Ma's sudden change of avatar should have little to do with Bitcoin, and there is no need to make excessive speculations.
In addition, we have reported yesterday that if Trump is re-elected as president, he may consider the CEO of Blackrock to serve as the next Secretary of the Treasury. Previously, there were reports that Trump considered the CEO of JPMorgan Chase as Secretary of the Treasury, but now it seems that he may prefer to choose Larry Fink. In any case, those who are related to cryptocurrency ETFs may hold important positions in American politics, which can be regarded as positive news.
Yesterday, ETFs continued to maintain large inflows, with a net inflow of 7,781 bitcoins. What makes me curious is that Black Rock's data was synchronized very early today. Their IBIT inflow of 7,680 bitcoins yesterday, which is more than 20 times the inflow of Fidelity. As long as the spot ETF can continue to maintain inflows, there is hope that Bitcoin will return to $70,000. Just don't expect too much to set a new high in the third quarter. Of course, if you can set a new high, it will be better, which means we will move towards $96,000. After breaking through $96,000, Bitcoin will continue to accelerate.
