● Nasdaq 100 Index recorded its biggest one-day drop since December 2022
The Nasdaq 100 closed down 2.9% on Wednesday, its biggest one-day drop since December 2022, ChainCatcher reported.
The “Big Seven” heavyweight stocks all fell, with Nvidia falling more than 6.6% and Apple falling 2.5%. The market value of the “Big Seven” evaporated by a total of about US$580 billion in a single day.
Goldman Sachs' trading desk says the S&P 500 has only one way to go now, down, and it won't be buying the dip.
● Marex Solutions: Wall Street's shift to small-cap stocks could drive crypto market gains
Marex Solutions said on Wednesday that Wall Street's shift to small-cap stocks at the expense of large-cap stocks could drive the crypto market higher, according to Odaily Planet Daily. Ilan Solot, senior global strategist at Marex Solutions, said that industry rotation may be the most important macroeconomic factor for cryptocurrencies. Solot believes that as the heat of Mag 7 stocks fades, funds will look for other places to deploy, and small-cap stocks are a knee-jerk reaction, but he doubts that cryptocurrencies will benefit from this rotation.
● The US dollar index fell below 104, hitting a new low since June 8
According to Golden Finance, the U.S. dollar index fell below 104, down 0.24% on the day, the lowest since June 8.
● BTC and ETH's upward trend stagnated, but implied volatility continued to rise
According to Odaily Planet Daily, Greeks.live analyst Adam said that the upward trend of BTC and ETH has stagnated, but the implied volatility IV of major maturities continues to rise. As we mentioned yesterday, IV has always been relatively slow to respond to the market. More than half of the trading volume of BTC option block trades comes from active buying of call options, while more than half of ETH's ordinary trading volume comes from active buying of call options. Now the bullish force is obviously stronger than the bearish force, but the sentiment is relatively calm and has not yet entered the Fomo stage.
● 9 spot Ethereum ETF fees have been announced
According to the Daily Planet, as issuers have successively submitted S-1/A and other documents of spot Ethereum ETFs to the US SEC, the fees of the current 9 spot Ethereum ETFs have been announced.
● SEC may reconsider staking Ethereum ETF
According to BlockBeats, on July 17, Coinage founder Zack Guzmán said on social media that U.S. Securities and Exchange Commission Commissioner Pierce revealed in an interview that the Ethereum ETF that can be "pledged" may be reconsidered by the SEC. Pierce said: "I think it is definitely something like staking, or any feature of the product... As far as I am concerned, these can always be reconsidered."
● Fed Board Member Waller: The time for rate cut is getting closer
According to BlockBeats, on July 17, Federal Reserve Board Governor Waller said in a speech on the U.S. economic outlook that based on potential scenario analysis, the time for the Fed to cut interest rates is "getting closer," but the uncertainty of economic trends makes it unclear when interest rates may be lowered.
● Trump said he does not want other countries to dominate Bitcoin and cryptocurrencies
According to Odaily Planet Daily, Trump said he does not want "another country to take over" the dominance of Bitcoin and cryptocurrencies.
According to Foresight News, the Legislative Yuan of Taiwan has passed the third reading of the amendment to the Anti-Money Laundering Act to include cryptocurrency traders. In the future, businesses or personnel providing virtual asset services and third-party payment services must complete the anti-money laundering and service capacity registration or login, otherwise they will be sentenced to a maximum of 2 years in prison or a fine of up to NT$5 million.
● Worldcoin faces price manipulation charges due to delayed token unlocking
According to Foresight News, on-chain detective ZachXBT said that Worldcoin faces community price manipulation and fraud charges for delaying the unlocking of 80% of its native tokens. The WorldCoin project allows insiders to continue to profit from its "scam." According to DeFi Squared, someone on the WorldCoin team was suspected of "using insider information to buy news first" before the news was announced.
