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 pressure 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 US$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.
