On July 17, according to Farside Investors data, the U.S. spot Bitcoin ETF had a net inflow of $422.5 million yesterday, of which: IBIT had a net inflow of $260.2 million; FBTC had a net inflow of $61.1 million; ARK 21Shares' ARKB had a net inflow of $29.8 million. ETFs have had net inflows for eight consecutive days, with a cumulative total of more than $2 billion, and the number is increasing day by day.
According to the liquidation map, according to Coingalss data, based on the current mainstream CEX contract positions, if Bitcoin rebounds and breaks through $68,000, it is expected that $801 million of short orders will be liquidated. If Bitcoin falls to around $63,000, it is expected that $1.558 billion of long orders will be liquidated. According to Coinglass data, $200 million of long orders were liquidated in the past 24 hours, of which $98.8394 million of long orders were liquidated and $101 million of short orders were liquidated. On the Fed side, Fed Governor Kugler said that rebalancing the job market means that inflation will fall to 2%. If the unemployment rate continues to rise, it would be appropriate for the Fed to cut interest rates in advance, and reiterated the position that "it would be appropriate to cut interest rates later in 2024." The unemployment rate has always been a core indicator that the Fed needs to refer to for monetary policy adjustments. The CPI in June unexpectedly rose to 4.1%, and the increase in the unemployment rate means that the economy is in recession or worsening. Cutting interest rates is also one of the best ways to reduce unemployment.
According to WSJ, people familiar with the matter said that the SEC has informed several asset management companies that the first batch of spot Ethereum ETFs may be launched next Tuesday (July 23). After the asset management company submitted the last round of filing documents this week, the agency is expected to announce the effectiveness of the ETF registration statement next Monday. Once the statement takes effect, the spot Ethereum ETF can begin trading.
The time for ETH's ETF to be approved is yet to be determined, but the probability of ETF approval is certain, which is also good for the entire ETH series, focusing on the infrastructure on the ETH chain, such as lending, staking, DEX and other track projects.
Trump has understood cryptocurrency. As the current global top star and the future president of the United States, his attitude and every word he says are crucial to cryptocurrency. Currently, all the tokens of the MEME series related to Lamp are soaring. According to an exclusive interview with Trump by Bloomberg Businessweek, Donald Trump revealed that cryptocurrency will not disappear, which is amazing. The crypto industry in the United States has a good foundation. It is still a baby now. But I don't want other countries to take over this field.
And Trump plans to launch a fourth NFT series based on an interview with former President Donald Trump published in Bloomberg Businessweek on Tuesday. In the interview, Trump said that his previous series was "very successful" and sold out in one day: the entire series was sold out.
At present, the negative factors of the entire market have basically been consumed. The address change of Mentougou has been tested yesterday and will not have much impact on the market. At most, it will be a spike. The Fed’s interest rate cut has basically become a fact, and the ETF will also be approved. With the support of Trump, the market is expected to hit a record high in August. Therefore, in terms of operation, try to go long and take spot at low prices. There will be no bad consequences if you go short against the trend.
However, it is worth noting that the current market sentiment has completely changed. Judging from the liquidation map, many people have joined the long team and become longs. The funding rate of BTC is also rising. Therefore, in the process of the market operation, the bullish sentiment reaches its peak, and there is a high probability of retracement and pinning, clearing contracts, and clearing leverage to create liquidity. This is actually very unfriendly to friends who do contracts, especially those greedy high-multiple contract players.
In a word, if there is no major negative news, the market will fluctuate upward and a new historical high is expected to appear.
In the current altcoin market, MEME's trading volume is far ahead of others, beating the so-called value investment in the market. Our MEME coin can always be found in the top five of the daily increase list. In terms of trading volume, PEPE is the well-deserved champion, and the new MEME kings such as WIF, BONK, FLOKI, etc., have also surpassed the old DOGE and SHIB in short-term trading volume. Meme coin gives more ordinary people besides OG and whales an opportunity, especially allowing the general public to participate fairly and share dividends. It symbolizes the silent resistance of ordinary retail investors to traditional capital and VC.
In fact, the community has seen through this point a long time ago. Most of the secondary market bargains provided to everyone are MEME coins. The market is changing all the time, and we have to change with it, otherwise we will be eliminated and become a salted fish that can never turn over. Just yesterday, WLD, which was going to release for 730 consecutive days, suddenly changed the rules and stopped releasing. WLD rose by 30%. But can such rules be changed at will? Or do VCs think that if they start releasing, the price of the coin will spiral downward, causing panic and making it impossible for them to sell? The arm cannot twist the thigh, and since it cannot twist, I will not play with you.
The community compiled a bottom-fishing document for everyone 2 weeks ago. So far, PEPE has increased by 30%, BNX has increased by 60%, FLOKI has increased by 30%, WIF has increased by 30%, and SATS has increased by 50%.