Bitcoin spot ETF funds are also continuing to flow in. Yesterday, 9 US Bitcoin spot ETFs increased their holdings by 1,661 BTC, which means that ETF funds are taking over the Bitcoin sold by the German government.

JPMorgan Chase predicts that the crypto market will rebound at the end of August.

Bitwise released its second quarter report saying: The bull market is far from over. Bitcoin ETFs inflows exceeded $2.4 billion in the second quarter, setting a new record for investor demand. Investors bought more than 100% of newly mined Bitcoin, leading to increased supply pressure.

Looking ahead to the second half of the year, including the US election and the upcoming spot Ethereum ETF, there is no sign of the bull market ending.

Data shows that the number of Bitcoin whales and large-scale wallets is increasing, while small traders sold their Bitcoin during the downturn, many at a loss. In July, the number of wallets holding at least 10 Bitcoins increased by 261 net, a signal that long-term holders are bullish.

The Republican Party of the United States supports a number of crypto-friendly policies in its 2024 party platform.

If former US President Trump wins the November election and the Republican Party comes to power, current SEC Chairman Gary Gensler may be replaced by Hester Peirce.

Peirce has been pushing for a more friendly crypto regulatory framework and is known as the "crypto mom." If she takes office, the SEC's crypto policy may undergo a major shift.

The 2024 Bitcoin Conference will be held on July 27, and Trump will deliver a speech. The conference is large in scale and has attracted many big names in politics and finance. Goldman Sachs also announced that it will enter the crypto market and plans to launch three BI projects by the end of the year #美国6月CPI大幅降温 #美联储何时降息？ #美国大选如何影响加密产业？ #德国政府转移比特币 #美国6月非农数据高于预期