Daily Market Brief 2024/07/31 12:30 UTC+8
Analyst Views
“Bitcoin prices are expected to rise in September . While Bitcoin failed to break out of the reaccumulation range, a period when buyers accumulate in anticipation of more price gains, in the 100 days following Bitcoin’s April halving, such a breakout was always unlikely.” - Rekt Capital
"The SEC no longer considers tokens such as SOL as securities and does not increase the probability of approval of spot ETFs such as SOL. To pass ETF approval, one of the following conditions must be met: a long enough history of SOL futures trading on CME; a comprehensive crypto regulatory framework and administrative changes." - Nate Geraci, President of The ETF Store
“GBTC fell 10% pre-market as the value of this portion of the trust will flow into the Grayscale Mini Bitcoin Trust (BTC ), with a record date of July 30 and expected to start trading on the 31st.” - James Seyffart, Bloomberg analyst
Market Hotspots
Yesterday, the U.S. Bitcoin spot ETF saw a net outflow of $18.1 million .
Yesterday, the US Ethereum spot ETF had a net inflow of US$33.6 million .
A user sold a $65,000 call option for Bitcoin at the end of the year today, and bought a $100,000 call option at the end of the year, totaling 551 BTC, with a premium of $4.89 million.
Investment and Financing Information
Web3 AI company Hyperbolic completed a $7 million seed round of financing, led by Polychain Capital and others;
NFT startup Mintify completes $3.4 million in new round of financing, with Cumberland and others participating;
Binance Labs Announces Investment in Monad Ecosystem Liquidity Staking Platform aPriori
Regulatory developments
The Bahamas has introduced the Digital Assets DARE 2024 Act, introducing sweeping reforms designed to address the changing landscape of the digital assets and cryptocurrency markets.
