Daily Market Brief 2024/07/26 12:00 UTC+8
Analyst Views
“Clients have little interest in cryptocurrencies outside of Bitcoin (BTC) and Ethereum (ETH), and don’t expect to see many cryptocurrency exchange-traded funds (ETFs) beyond these two core digital assets.” - Robert Mitchnick, head of digital assets at BlackRock
“The Bitcoin Coinbase Premium Index has turned negative, indicating that demand from U.S. investors is declining.” - IT Tech, CryptoQuant Analyst
"The market could see further downside due to potential stress from Mt. Gox, the upcoming U.S. earnings season, and seasonal weakness in August and September." - 10x Research
“The trend of SOL in July 2024 is basically the same as that in July 2021. Pay attention to the subsequent trend.” - Ali, On-chain Analyst
Market Hotspots
Yesterday, U.S. spot Bitcoin ETFs had a total net inflow of $31.4 million.
On July 25, eight Ethereum ETFs in the United States sold a total of 100,230 ETH, equivalent to approximately US$316.22 million.
Jersey City Pension Fund in New Jersey, USA will invest in Bitcoin ETF.
Traders continue to expect the Fed to cut interest rates by 25 basis points in September, November and December.
