● 10x Research report: Institutional bullish signals on Bitcoin increase
According to ChainCatcher, 10x Research analyst Markus Thielen released a report saying that Bitcoin continues to show high risk/reward potential. After falling from the highs in March and April, the analyst team turned to a tactical bullish stance. On September 9, when the price of Bitcoin was $54,800, the report pointed out that multiple technical indicators showed oversold, suggesting that the market may rebound.
The report emphasizes that if Bitcoin breaks through the downward trend line and stabilizes the 21-week moving average ($60,996), the upward trend will be clearer and may even hit $65,000. It is worth noting that trading signals show that long positions have increased to 70%, and Bitcoin and Ethereum may provide attractive buying opportunities in the next 2 to 3 months.
● Analyst: The weakening of the yen provides further upside for Bitcoin
According to BlockBeats, on September 20, derivatives trader Gordon Grant said that in addition to the Fed's policy changes, the weakening of the yen also provided support for Bitcoin. The U.S. dollar has been strengthening against the yen since Monday, providing further upside for Bitcoin. Gordon Grant said that the strengthening of the U.S. dollar against the yen has historically been beneficial to high-risk assets because the yen is often used as a financing currency for "risk-on" transactions, and investors seek higher returns by borrowing low-interest currencies such as the yen.
According to Odaily Planet Daily, after MicroStrategy announced the purchase of 7,420 BTC, its founder Michael Saylor posted on the X platform that MicroStrategy's BTC quarterly return has reached 5.1% so far, and the BTC return rate so far this year is 17.8%. As of September 19, 2024, MicroStrategy holds 252,220 BTC, worth approximately US$9.9 billion, with a cost balance of US$39,266 per Bitcoin.
● Bloomberg analyst: Bitcoin ETF net inflows hit a record high of $17.7 billion this year
According to Odaily Planet Daily, Bloomberg ETF analyst Eric Balchunas wrote on the X platform that the Bitcoin ETF market reached an important milestone yesterday. Year-to-date (YTD) net inflows reached a new high of $17.7 billion, while fund flows turned positive in the past month. Balchunas emphasized that it is crucial to maintain stability during the "short-term correction", which will help create a new annual net inflow high faster.
● US stocks rose for the second consecutive week as investors continued to focus on macro data
U.S. stocks rose for a second straight week, but some disappointing earnings reports weighed on the market, Bloomberg reported. The S&P 500 and Nasdaq 100 closed lower after volatility in the final minutes of trading. Investors grew more confident that the Federal Reserve could achieve a soft landing.
Krishna Guha, vice chairman of Evercore ISI, said the continued rally in risk assets is unlikely to last at a time of peak election uncertainty. Gold hit a record high as traders expect further central bank easing. The CEO of JPMorgan Chase & Co. said optimism is driving the market higher. Bank of America Corp.’s Michael Hartnett sees international stocks and commodities as good bets for a soft economic landing.
The yen slipped after dovish comments from Bank of Japan Governor Kazuo Ueda. Investors will focus on PMI, GDP and PCE data next week.
● Fed Board member Waller: The speed of rate cuts depends on data performance
According to Jinshi, Fed Governor Waller said there are several scenarios that will determine the speed of rate cuts, which will depend on the data. If the data performs well, it is conceivable to cut interest rates by 25 basis points at the next meeting or the next two meetings.
● SEC approves BlackRock Bitcoin ETF options to be listed and traded on Nasdaq
According to Cointelegraph, the U.S. Securities and Exchange Commission (SEC) has approved Nasdaq to list and trade BlackRock’s spot Bitcoin ETF options.
On September 20, the SEC approved iShares Bitcoin Trust options to be listed on Nasdaq with the code IBIT.
Nasdaq said bitcoin ETF options will trade under the same rules as other ETF options.
The SEC notice states that IBIT options will be physically settled using an American-style exercise method and will be subject to the exchange’s initial and continuing listing standards.
● BlackRock: US federal debt reaches $35 trillion, institutional interest in Bitcoin increases
According to ChainCatcher, global asset management giant BlackRock said that as the US federal debt has reached 35 trillion US dollars, the market's interest in Bitcoin as a reserve asset has increased.
Samara Cohen, BlackRock's chief investment officer for ETFs, and Robert Mitchnick, head of digital assets, noted that concerns about the spread of the U.S. federal deficit and debt are driving widespread institutional interest in Bitcoin. BlackRock CEO Larry Fink has called Bitcoin a hedge against inflation, especially against the backdrop of rising global tensions and the threat of de-dollarization.
● Franklin Templeton plans to launch a mutual fund on the Solana blockchain
According to Odaily Planet Daily, SolanaFloor published an article on the X platform, revealing that at the Solana Breakpoint conference, there was news that Franklin Templeton, an asset management company with an asset management scale of US$1.3 trillion, plans to launch a co-managed fund on the Solana blockchain.
According to BlockBeats, on September 20, BNB Chain officially announced that it has integrated with the messaging application Telegram. This integration makes Web3 more accessible and is a key step for BNB Chain to achieve its goal of incorporating the next billion users into Web3.
