Good Morning !

ETF flow

*Top Bitcoin ETFs net inflow today: IBIT 9.41M.

*US BTC ETFs see 111M outflows, Grayscale leading with 74.89M.

*ETH ETFs net inflow today: ETHA 20.1M, ETHW 2.86M, ETH 2.51M.

*US ETH ETFs see 43M outflows, all from Grayscale Ethereum Trust.

Desk Flow:

*BTC, ETH, MOCA, TAO, SUI, TON buyers.

*SUI sellers.

News:

*Stocks climbed as investors anticipate an upcoming U.S. inflation report, which will be closely examined for its impact on the Fed's favored inflation measure.

*In early New York trading, equities moved slightly higher, with Nvidia driving gains among large-cap stocks. However, Home Depot saw a sharp decline after revising its forecast for a key sales metric downward, citing expectations that consumers will continue to reduce spending. Oil prices fell, with the potential escalation of conflict in the Middle East being balanced by the International Energy Agency's forecast of a surplus if OPEC+ follows through on its planned production increase in the next quarter.

*Meanwhile, trading activity in Chinese stocks dropped to its lowest point in more than four years, as a surge in local bond markets occurred amid a weakening economy.

*U.S. producer prices increased in July, but the rise was smaller than expected, marking the first drop in service costs this year as inflationary pressures continue to ease.

Price Action:

*Bitcoin and Ethereum saw slight declines over the past 24 hours, with their prices falling below the 30-day rolling VWAP, which could signal potential undervaluation or a short-term bearish trend. Both cryptocurrencies are nearing oversold levels, hinting at possible buying opportunities if market sentiment improves. However, the current short-term bearish outlook advises caution.