BIT Daily Market Brief - 07/18: US Spot Bitcoin ETF Net Inflows for 9 Consecutive Days
The bullish strength is now clearly stronger than the bearish, but the sentiment is relatively calm and has not yet entered the Fomo stage - Greeks.live2024/07/18 12:20 UTC+8
Analyst Views
"More than half of the trading volume in BTC options comes from actively buying call options, while over half of the regular trading volume in ETH comes from actively buying call options. Currently, the bullish momentum is clearly stronger than the bearish, but the sentiment is relatively calm and has not yet entered the FOMO stage." - Greeks.live
"The liquidity of stablecoins may limit the potential for significant price increases in Bitcoin in the future. The market capitalization of stablecoins has not fully increased; although there have been some positive trends, the monthly growth of USDT's market capitalization remains close to zero, which still suppresses the potential for further increases in Bitcoin's price." - CryptoQuant
"The probability of the Federal Reserve maintaining interest rates in August is 96.4%, while the probability of a 25 basis point rate cut is 3.6%. The probability of the Federal Reserve maintaining interest rates until September is 1.0%, the cumulative probability of a 25 basis point rate cut is 95.5%, and the cumulative probability of a 50 basis point rate cut is 3.6%." - CME FedWatch
News Briefs
The U.S. spot Bitcoin ETF saw a net inflow of $53 million yesterday, marking nine consecutive days of net inflows.
Today's Fear and Greed Index (FGI) remains in the greed state, dropping from 69 points yesterday to 61 points.
The U.S. spot Bitcoin ETF has now accumulated over 887,000 BTC, second only to the 3 million BTC held by CEX. In other aspects, miners' holdings, including Patoshi, amount to about 705,000 BTC, government entities hold about 207,000 BTC, and the Mt. Gox trustee holds about 139,000 BTC.
SEC Commissioner Hester Peirce stated in an interview that she may reconsider the creation/repurchase of similar types of Stake and Ethereum/Bitcoin ETFs.
German law enforcement has disclosed that the "emergency sale" of nearly 50,000 Bitcoins has concluded, with sales revenue reaching $2.88 billion (€2.639 billion).
