The major U.S. stock indexes closed slightly higher last Friday (8/16). Retail sales, PPI, CPI and other data wiped away investors' concerns about the economic recession. U.S. stocks performed well last week. Bitcoin and Ethereum, on the other hand, showed a pattern of narrow consolidation.
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ToggleJackson Hole central bank annual meeting highlights this week
The Jackson Hole Central Bank Annual Conference will be held for three consecutive days starting from Thursday (8/22). Central bank governors, scholars and economists from all over the world will gather in Jackson Hole, Wyoming. This year’s theme is " "Reevaluate the effectiveness and conductivity of monetary policy." Federal Reserve Chairman Jerome Powell will deliver a keynote speech at 10pm Taiwan time on 8/23. The market expects this speech to lay the foundation for an interest rate cut in September.
BTC consolidates within a narrow range
Bitcoin price changed little last week, with a high of 61,800 and a low of $56,078. However, it dropped from 59K to $58,431 before the deadline.
Last Friday (8/16), Bitcoin spot ETFs had a net inflow of US$35.9 million. Except for Grayscale’s GBTC, which had a net outflow, the rest were 0 or net inflows. Over the past week, there has been a small net inflow of US$32.4 million, with Grayscale's continued outflow of GBTC still being the main reason.
ETH plateaus at 2,600
Ethereum had previously been relatively weak under the fear of selling pressure from Jump Trading, but it had stabilized slightly last week and closed above $2,600 at the time of writing.
Last Friday (8/16), Ethereum spot ETF had a net outflow of US$15 million, Grayscale's ETHE had a net outflow of US$27.7 million, VanEck's ETHV had a net outflow of US$4.8 million, BlackRock's ETHA and Fidelity's FETH had only a small net outflow. inflow. Over the past week, there has been an overall net outflow of US$14.1 million, with Grayscale's continued outflow of ETHE still being the main reason.
