Daily Market Brief 2024/08/16 12:00 UTC+8
Analyst Views
“Central banks are relenting, the liquidity floodgates are opening, and Bitcoin is about to surge higher . My Global Liquidity Momentum Composite (MSI) model has given its first bullish signal since November 2023. To recap, Bitcoin rallied 75% between November and April before the model turned bearish.” - Jamie Coutts, Analyst @Real Vision
“Bitcoin price performance in halving years: So far, 2024 is performing very similar to 2016 and 2020. If prices are going to go higher, it will probably be in Q4 .” - Julio Moreno, Head of Research @CryptoQuant
"With the release of PPI and CPI, the market's volatility expectations have dropped significantly, which in turn has led to a significant decline in IVs of major maturities. Short-term IVs fell by more than 20% this week, while medium- and long-term IVs also fell by about 5%. Now that the term structure has returned to a stable structure of highs far and lows near, the market may be stagnant for a while, and now the cost-effectiveness of selling medium-term options looks better ." - Greeks.live
Market Hotspots
US Bitcoin ETF net outflows on August 15 1,316 BTC.
US Ethereum ETF net outflows on August 15 1,736 ETH.
Futures traders raised their odds of a 25 basis point rate cut by the Federal Reserve in September to 74.5% from 65% on Wednesday evening .
Donald Trump Jr. has opened a Telegram channel called “ The DeFiant Ones ” to introduce upcoming crypto projects.
Currently, 701 new funds have reported holding Bitcoin spot ETFs.
Investment and Financing Information
Orderly Network announced the completion of a US$5 million strategic round of financing, with participation from OKX Ventures, Manifold Trading, Presto Labs, LTP, Nomad Capital and Origin Protocol.
Crunch Lab announced the completion of a $3.5 million seed round of financing, led by crypto investment firm Multicoin Capital, with participation from Factor Capital, Fabric VC and Elixir Capital.
Binance Labs announced an investment in MyShell through its sixth incubation program. The specific amount has not been disclosed.
Chaos Labs announced the completion of a $55 million Series A funding round led by Haun Ventures, with participation from notable new investors including F-Prime Capital, Slow Ventures, and Spartan Capital.
Regulatory developments
The U.S. Securities and Exchange Commission (SEC) has approved the first leveraged long MicroStrategy ETF.
US Vice President Harris will unveil her economic plan on Friday.
