On Monday, the Nasdaq and S&P 500 hit new intraday highs. In contrast to their performance at the beginning of the year, the cryptocurrency market has experienced a long and quiet summer, while the U.S. stock market is soaring. Can the cryptocurrency market catch up with the growth in the second half of the year?

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South Korea's financial authorities plan to reassess the listing of about 600 cryptocurrencies traded in the country. The strict review is aimed at ensuring compliance with the new rules of the Virtual Asset User Protection Act, which came into effect on July 19. Markuyeda, a member of the U.S. Securities and Exchange Commission, said that calling tokenization part of a broader technological advancement, new technologies and innovations may provide further efficiency for global markets and investors, and can provide "security, transparency and immutability", eliminating the need for intermediaries, thereby simplifying transactions and reducing costs. The U.S. Cybersecurity and Infrastructure Security Agency (CISA) said on June 12: "There has been a surge in scams targeting crypto investors, please do not pay the caller." Cointelegraph said that crypto startups have raised more than $100 billion since the end of May 2014, nearly half of which came from U.S. investors, with the United Kingdom and Singapore ranking second and third respectively. The Coinbase report pointed out that the number of cryptocurrency developers in the United States has dropped significantly, down 14% in the past five years, and currently only accounts for 26%. Ali Charts analysts said that ETH whales have accumulated more than 700,000 ETH in the past three weeks, about $2.45 billion. According to HODL15Capital data, as of June 14, the Hong Kong BTC spot ETF held 4,064 BTC. Kucoin's June research report shows that crypto market participants are increasingly turning their attention to characters or celebrity memes with "relatively unknown low-market-cap assets". This shift stems from investors' frustration with projects with high fully diluted value (FDV) and low initial circulation market value. Some investors are avoiding tokens with high FDV because they provide investors with limited price discovery opportunities, making it challenging. Tether co-founder Wiliam Quigley said that don't expect the momentum of cryptocurrency ETFs to slow down after the approval of spot BTC and ETH funds in the United States. Wall Street's "greed" will drive more and more such products. Due to Wall Street's relentless pursuit of profits, ETFs for other mainstream cryptocurrencies will also emerge in large numbers. And warned that Wall Street's aggressive marketing of crypto products may bring significant risks, especially during market declines.

Quinn Thompson, founder of crypto hedge fund Lekker Capital, said not to invest in altcoins, pointing out several indicators of market instability, including high leverage and open interest, lack of FOMO buying, and stagnant stablecoin supply, coupled with low summer trading volume, making it difficult for altcoins to gain traction. On June 15, Tether issued an additional 1 billion stablecoins on the TRON network. On Monday, Bitcoin fell, the U.S. stock index opened flat, and Bitcoin spot ETFs in the U.S. stock market rose 0.5%. Last week, the U.S. BTC spot ETF had a net outflow of $580.6 million, of which Grayscale GBTC had a net outflow of $274 million and BlackRock IBIT had a net inflow of $41.6 million. In June, the U.S. spot BTC ETF had a net inflow of 17,134 BTC. QCP Capital reported that it will usher in a quiet summer with low volatility and no catalysts to drive the market. Traders may consider accumulation as a strategy to cope with the "long and quiet summer". They predict that ETH prices will not fluctuate significantly in July. Samara Cohen, chief investment officer of BlackRock ETF and index investment, said: According to last quarter's 13-F filing, hedge funds and brokerage firms have been buyers of BTC ETFs. Investment advisory firms have always been "cautious" about BTC ETFs, but are now beginning to shift and gradually explore BTC ETF funds, which have historically fluctuated as much as 90% in price. asset class, their job is actually to build portfolios and do risk analysis and due diligence, and they are doing these things now. Fed's Goolsbee believes that "last week's CPI data was "very good", and if inflation continues to make progress, interest rates can fall and we may avoid a recession." Fed's Kashkari: The labor market may cool further, and I hope the decline will be moderate, and there may be a rate cut at the end of the year. The Fed's hawks rarely "relaxed". Mester said: The latest CPI data is "good news", and the Fed will not wait until the inflation rate drops to 2% before starting to cut interest rates. She hopes to see a few more months of good data before considering a rate cut, but it is important not to wait too long to cut interest rates. High interest rates may cause damage to the economy.

Forbes said that central banks around the world have begun to cut interest rates, and the global liquidity cycle indicates that the money supply may increase, which can support asset prices, including cryptocurrencies. Morgan Stanley said: Weak economic growth is a risk facing the US stock market. Once the Federal Reserve starts to cut interest rates, large growth stocks will continue to perform strongly, which is also a typical late cycle phenomenon. Julian Emanuel, a well-known short seller on Wall Street and strategist at Evercore ISI, raised his year-end forecast for the S&P 500 from 4,750 to 6,000 (currently 5,442), and said: The decline in inflation and the artificial intelligence boom will drive the stock market further higher. Goldman Sachs raised its year-end target for the S&P 500 for the third time: from 5,200 to 5,600. For cycles that are not triggered by economic recessions, historically, interest rate cuts mark a key turning point, which has brought strong stock returns. The Atlanta Fed's GDPNow model predicts that the annual growth rate of US real GDP in the second quarter will climb to 3.1% from 1.3% in the first quarter. June is usually a quiet period for the market, and trading volume will decline after entering the summer. Carol Schleif, chief investment officer of the family office of Bank of Montreal, said: "There is little sign on the horizon that you will see any real bumpy landing." According to Deutsche Bank data, the overall position of U.S. stocks has now climbed to the highest level since November 2021 last week. According to Bank of America data, the technology sector received an inflow of $2.1 billion last week, the most since March. Following the rise last week, the U.S. stock market opened higher again this week; at the beginning of this year, the currency market soared and overdrew the gains, and the U.S. stock market was flat; in the middle of this year, the currency market was flat, and the U.S. stock market soared to make up for the gains; it is expected that both can rise at the same time in the second half of the year. As a so-called "risk asset", the currency market lacks the ability to make up for the gains in the same environment relative to the U.S. stock market. #币安合约锦标赛 #币安上线ZK #美联储何时降息？