☄️The Federal Reserve's balance sheet shrank by $27 billion in one week.

🔵 Goolsbee, Fed Chair:
— We are seeing the desired reduction in inflation
— If US unemployment exceeds 4.1% (currently 4.3%), the Fed will respond by lowering the interest rate

🔵Citi:
— We expect the Fed to cut rates by 1.25% this year (0.5% in September, 0.5% in November, 0.25% in December).

🔵 Bank of America:
— We forecast a 0.25% rate cut by the Fed in September and 0.25% in December

🔵Goldman Sachs:
— The Fed is likely to cut rates by 0.25% in September, 0.25% in November and 0.25% in December

Market Expectations (Fed rate):

— September 18: 50 bps cut to 4.75-5.00%.
— November 7: 50 bps cut to 4.25-4.50%.
— December 18: 25 bps cut to 4.00-4.25%.
— January 29, 2025: 25 bps cut to 3.75-4.00%.

baitu22 ...

🔥In an interview with CNBC, Fed Chairman Austan Goolsbee decided to put everyone at ease:

🔵The Fed is taking a conservative stance.
🔵Data does not indicate the economy is overheating.
🔵Jobs data was worse than expected, but does not indicate a recession.
🔵The Fed needs to make decisions going forward.
🔵 Other data such as business defaults have some alarming indicators.
🔵Economic growth continues at a steady level.
🔵Everything is always up for discussion, including rate hikes and cuts.

👍 - well done, you got it right /

🟢Senator Cynthia Lummis has officially introduced a bill in the U.S. Senate proposing Bitcoin as a reserve asset for the Federal Reserve.

Key Points:

🔵The U.S. government should purchase 5% of Bitcoin's total issuance.
🔵A "Bitcoin Purchase Program" is introduced, allowing up to 200,000 BTC acquisitions per year for five years.
🔵A reserve fund must be established with strict cybersecurity parameters.
🔵U.S. states can voluntarily become custodians of Bitcoin reserves.

$BTC $XRP $ETH

🔼 Solana surpasses Ethereum in weekly fee revenue for the first time

For the first time, the Solana network has surpassed the Ethereum blockchain in weekly collected fees, according to Blockworks Research analysts 📊

Over seven days, Solana collected $25 million in base fees and priority fees, while Ethereum collected $21 million
$SOL #solonapumping

💥A summary of Trump's speech at the 2024 Bitcoin Conference:

▪️ On day one, I will fire Gary Gensler and appoint a new SEC chairman.

▪️ If elected, I will create a strategic national bitcoin reserve for the U.S. government.

▪️ The U.S. government will retain 100% of the bitcoins it owns.

▪️ Bitcoin is going to the moon.

▪️ Never sell your bitcoin

▪️ Bitcoin will probably one day surpass the market capitalization of gold.

▪️ I reaffirm my pledge to commute Ross Ulbricht's sentence.

▪️ As long as I am President of the United States, there will never be a CBDC.

▪️ If elected president, bitcoin and cryptocurrencies will skyrocket like never before.

▪️ Bitcoin does not threaten the dollar, the dollar is threatened by the current US government.

▪️ The United States will become the crypto capital of the planet and the bitcoin superpower of the world.

▪️ Bitcoin symbolizes freedom, sovereignty and independence from government coercion and control.

▪️ I promise the bitcoin community that the day I take the oath of office, Joe Biden and Kamala Harris' crusade against cryptocurrencies will end.

$BTC

📌VanEck's CEO holds more than 30% of his portfolio in BTC. And here's what he thinks:

🔗Bitcoin has significant growth potential.

🔗BTC could reach $2.9 million over the next 26 years if it is massively adopted by banks and governments.

🔗Investors who believe in bitcoin's potential shouldn't sell it for a dollar profit.
$BTC

📊 Saylor predicts Bitcoin at $49M or $3M by 2045

Michael Saylor predicts that by 2045, Bitcoin's price could reach $49 million in a bullish scenario, while in a bearish scenario, it could fall to $3 million 💬

$BTC

U.S. presidential candidate Robert F. Kennedy Jr. at Bitcoin 2024 conference

🔴 Plans to transfer 200,000 BTC to the U.S. Treasury as a strategic asset.

🔴 Proposes the U.S. Treasury buy 550 BTC daily until a reserve of 4,000,000 BTC is established.

🔴 Believes Bitcoin's value could reach hundreds of trillions of dollars.

🔴 Advocates for tax-free transactions between the dollar and BTC.

🔴 Supports using Bitcoin for real estate purchases.

🔴 Describes Bitcoin as a technology of freedom, hope, optimism, and independence, calling it the perfect currency.

$BTC

⚡️The Russian State Duma has passed in the first reading a bill to restrict the free circulation of cryptocurrencies in Russia.

The bill will also introduce regulation of mining activities.
$BTC

Let's go bullish .... 🔥🔥 $LDO
#ETH_ETFs_Trading_Today #Ldo

The Mt․Gox wallets transferred 37,477 BTC ($2.5 billion) to an unknown address.-

Mt․Gox still has 90,344 BTC ($5.93 billion) left on its balance.

🔥The first day of the nine spot ETH ETFs saw a total inflow of $107m and a total trading volume exceeding $1.1bn. The inflows and outflows for specific ETFs are as follows:
$ETH #ETH_ETFs_Trading_Today

🔵BlackRock ETHA: Inflow of $266.5m
🔵Bitwise ETHW: Inflow of $204m
🔵Fidelity FETH: Inflow of $71.3m
🔵Grayscale ETHE: Outflow of $484m

🧨 DYDX is hacked.

Stay away from any interactions with the exchange!

Before, there were reports that there are issues with dydx.exchange, while Bloomberg reported that the exchange is in talks with Wintermute and Selini to sell the platform.

$DYDX
#DYDX🔔

🔈Spot Ethereum ETFs have started trading!

Bloomberg analysts are predicting capital inflows of $5-6 billion in the first year after listing.

$ETH
#ETH_ETFs_Trading_Today

😏According to Arkham, Mt. Gox transferred 42.587k BTC to the address starting with 15yp at 13:06 UTC+8 today, worth about $2.85 billion.
$BTC #MtGoxJulyRepayments

🔥US spot Ethereum ETFs will start trading on July 23, following unexpected approval by the SEC in May.

Here are the firms that have received the green light to launch their ETFs:

➡️BlackRock
- Product: iShares Ethereum Trust
- Fee: 0.25% (reduced to 0.12% for 12 months or $2.5 billion AUM)

➡️Grayscale
- Product: Grayscale Ethereum Trust (ETHE)
- Fee: 2.5% for main ETF, 0.15% for Mini Trust (fees waived for six months or until $2bn AUM)

➡️21Shares
- Product: 21Shares Core Ethereum ETF (CETH)
- Fee: 0.21% (waived for six months or until $500m AUM)

➡️ProShares
Approved, but specifics like ticker and fee structure not yet announced

➡️Fidelity
- Product: Fidelity Ethereum Fund (FETH)
- Fee: 0.25% (waived until end of 2024)

➡️VanEck
- Product: VanEck Ethereum ETF (ETHV)
- Fee: 0.20% (waived for the first year or until $1.5bn AUM)

➡️Franklin Templeton
- Product: Franklin Ethereum ETF (EZET)
- Fee: 0.19% (waived until end of January 2025 or $10bn AUM)

➡️Invesco/Galaxy Digital
- Product: Invesco Galaxy Ethereum ETF (QETH)
- Fee: 0.25%

➡️Bitwise
- Product: Bitwise Ethereum ETF (BITW)
- Fee: 0.20% (waived for the first six months or until $50m AUM)

➡️Hashdex
Initially proposed but later abandoned a spot Ethereum ETF; now pursuing a combined Bitcoin and Ethereum spot ETF.

📺

Gary Gensler will likely retire by January/February 2025.

After a change in the White House administration, the head of the SEC usually resigns (the administration will change after the presidential election).

👆CoinShares report on crypto financial flows for the past week.

Investment in digital assets continued last week, with inflows totaling $1.35bn.

🔵Bitcoin (BTC): Inflows amounted to $1.27bn, with outflows in short positions of $1.9m.
🔵Ethereum (ETH): Inflows totaled $45m.
🔵Solana (SOL) and Litecoin (LTC) received inflows of $9.6m and $2.2m, respectively.

🔍 Daily crypto market overview:

Global market cap:
$2.48T(+1.37% in 24h)

24h Trading volume:
$67.8B(+33.58%)

Bitcoin dominance:
54.21%(+0.01%)

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