BIT Daily Market Briefing 08/15 - Bitcoin Set to Surge Significantly
Central banks around the world are compromising, liquidity gates are opening, and Bitcoin is about to rise significantly. My Global Liquidity Momentum Composite Model (MSI) has issued a bullish signal for the first time since November 2023.Daily Market Briefing 2024/08/16 12:00 UTC+8
Analyst Insights
"Central banks around the world are compromising, and the liquidity gates are opening; Bitcoin is about to surge significantly. My Global Liquidity Momentum Composite Model (MSI) has issued a bullish signal for the first time since November 2023. Looking back, Bitcoin rose 75% from November to April, after which the model turned bearish." - Jamie Coutts, Analyst @Real Vision
"Bitcoin's price performance during the halving year: so far, 2024's performance is very similar to 2016 and 2020. If the price is to rise, it may happen in the fourth quarter." - Julio Moreno, Research Director @CryptoQuant
"With the PPI and CPI being released successively, market volatility expectations have significantly decreased, leading to a noticeable drop in implied volatility across major maturities. Short-term IV has fallen by over 20% this week, while medium to long-term IV has also decreased by about 5%. The term structure has now returned to a solid backwardation, and the market may consolidate for a while; selling medium-term options now looks more cost-effective." - Greeks.live
Market Highlights
On August 15, the U.S. Bitcoin ETF saw a net outflow of 1,316 BTC.
On August 15, the U.S. Ethereum ETF experienced a net outflow of 1,736 ETH.
Futures traders raised the probability of a 25 basis point rate cut by the Federal Reserve in September from 65% on Wednesday night to 74.5%.
Donald Trump Jr. launched a Telegram channel "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 $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, with the specific amount undisclosed.
Chaos Labs announced the completion of a $55 million Series A financing round, led by Haun Ventures, with notable new investors including F-Prime Capital, Slow Ventures, and Spartan Capital.
Regulatory Dynamics
The U.S. Securities and Exchange Commission (SEC) has approved the first leveraged long MicroStrategy ETF.
U.S. Vice President Harris will unveil her economic plan this Friday.
