● On-chain data: The German government has sold more than half of its seized assets
According to Golden Finance, the German government transferred 16,309 bitcoins it held to cryptocurrency exchanges and market makers on Monday (July 8). Blockchain data shows that due to this transfer, more than $900 million worth of bitcoin assets flowed out of the German government's wallet, causing Bitcoin (BTC) to fall in European markets on Monday afternoon. According to blockchain data platform Arkham Intelligence, these bitcoins were transferred in batches to external addresses, including cryptocurrency exchanges Bitstamp, Kraken and Coinbase, and market maker Flow Traders. Arkham Intelligence data also shows that wallets related to the German government still hold about 23,788 bitcoins, which means they have sold more than half of the seized assets.
● On July 9, the cryptocurrency panic and greed index was 27, and market panic sentiment intensified
According to BlockBeats, according to Alternative data, the cryptocurrency panic and greed index on July 9 was 27, which was lower than yesterday's 28, and panic in the market continued to spread.
● Six US Ethereum spot ETF applicants have submitted revised S-1 documents
According to Odaily Planet Daily, six US Ethereum spot ETF applicants have submitted revised S-1 documents, including Fidelity, VanEck, Franklin Templeton, 21Shares, Grayscale and BlackRock. VanEck said it would waive fees for its Ethereum spot ETF at the outset, while Franklin Templeton set its fee rate at 0.19%. Some issuers, such as BlackRock, have not yet set fees.
● VanEck and 21Shares’ Solana ETF’s Form 19b-4 has been filed with the SEC
According to a public document, Cboe has submitted a 19b-4 form to the U.S. Securities and Exchange Commission (SEC) for the listing of the VanEck Solana ETF, according to Odaily Planet Daily. Nate Geraci, president of The ETF Store, commented that Cboe has submitted 19b-4 documents on behalf of VanEck and 21Shares Solana ETFs respectively, and once the U.S. Securities and Exchange Commission confirms these documents, the decision clock will start "ticking."
According to PANews, JPMorgan Chase said in a research report on Monday that the total market value of cryptocurrencies fell 8% to around $2.25 trillion in June, wiping out most of the gains in May. The market value of tokens, DeFi and NFTs all retreated in June. Spot cryptocurrency daily trading volume fell 18% compared with the previous month. From the perspective of valuation and trading volume, March 2024 is the peak of the crypto ecosystem in the current cycle. The bank pointed out that this trend is in stark contrast to traditional markets, with the S&P 500 rising 4% and the tech-heavy Nasdaq rising 6% that month. However, the report added that stablecoins outperformed other crypto sectors in June, mainly driven by USDT. In addition, the total market value of listed Bitcoin mining companies also increased by 19%, and these companies benefited from the gains brought by "power use cases related to artificial intelligence." JPMorgan also said that the spot Bitcoin ETF had the second worst month of traffic since its launch, and estimated that 10 U.S. spot ETFs had sales of $662 million this month.
According to Odaily Planet Daily, CoinShares' latest weekly report shows that the total inflow of funds into digital asset investment products last week reached $441 million. The recent price weakness caused by Mt Gox and the selling pressure from the German government are likely to be seen as buying opportunities. The inflow of Bitcoin investment products was $398 million, but as investors choose to invest in a wider range of altcoins, the inflow of Bitcoin investment products only accounts for 90% of the total inflow of digital asset investment products. Blockchain stocks did not reflect the improvement in investor sentiment, with another $8 million of funds flowing out last week.
● Data: If Bitcoin falls to $50,000, mainstream CEX will have $658 million in long orders liquidated
According to ChainCatcher, Coingalss data shows that based on the current mainstream CEX contract positions, if the price of Bitcoin falls to around $50,000, it is expected that CEX will have $658 million in long orders liquidated. On the other hand, in a unilateral downward trend, as long orders decrease and short orders increase, if the price of Bitcoin rebounds to around $58,000, it is expected that $1.522 billion in short orders will be liquidated.
