BIT Daily Market Briefing 08/15 - Global Liquidity Trends and Monetary Policy Easing Will Further Benefit the Crypto Market
Global liquidity trends and monetary policy easing will further benefit the cryptocurrency market. Although occasional sell-offs occur, the continued support from long-term holders helps sustain the stability of Bitcoin amid market fluctuations.Daily Market Briefing 2024/08/15 12:00 UTC+8
Analyst Opinions
"The global liquidity trend and monetary policy easing will further benefit the crypto market. Despite occasional sell-offs, the continued support from long-term holders is sustaining Bitcoin's stability amid market fluctuations." - Cryptocrunch
"On Wednesday, the U.S. government transferred 10,000 seized Bitcoins (BTC) related to Silk Road to the institutional platform Coinbase Prime. In this case, the transfer may be for custody reasons, as the U.S. Marshals Service, a division of the Department of Justice, announced last month a partnership with Coinbase Prime to 'safeguard and trade' large digital assets." - Coindesk
"Over 45% of Bitcoin's total supply has not moved in the past six months. Long-term holders (LTHs) have held their assets for at least 155 days, demonstrating strong holding willingness even after Bitcoin reached its all-time high." - Glassnode
Market Highlights
On August 14, the U.S. Bitcoin ETF saw a net inflow of 1,190 BTC.
On August 14, the U.S. Ethereum ETF saw a net inflow of 18,726 ETH.
The Wisconsin Investment Board increased its holdings in the BlackRock Bitcoin ETF.
Traders estimate a 56.5% probability that the Federal Reserve will cut rates by 25 basis points at the September meeting, and a 43.5% probability of a 50 basis point cut.
Today's largest Bitcoin options trade involved an investor buying a call option for $65,000 at the end of the year while selling a call option for $85,000 at the end of March next year, totaling 380 BTC, with a premium income of $1.975 million.
Funding Information
The stablecoin payment app Sling Money completed a $15 million Series A funding round, led by USV and others.
Ethereum Layer 2 development company Parfin completed a $10 million Series A funding round, led by ParaFi Capital.
Smart account development company Rhinestone completed a $5 million seed funding round, led by 1kx.
Regulatory Developments
Fireblocks announced it has obtained a cryptocurrency custody license in New York, allowing it to custody cryptocurrencies for U.S. clients.
Binance will pay 9.6 million reais (approximately $1.76 million) to the Brazilian Securities and Exchange Commission (CVM) to end the investigation into its provision of derivatives trading services in Brazil without the necessary licenses.
