📈Daily Market Review📉
🔸Daily Macro:
BTC Market:
Bitcoin is stable at $6K after a pullback from $70K.
🔸BTC ETF:
Initial outflows of $81.5M on July 29 revised to a $124.1M inflow. Recent data shows a $93M outflow.
🔸ETH ETF:
ETH ETFs saw a net outflow of $84.3M, with Grayscale's ETHE outflows slowing to $120.3M
🔸Macroeconomic Data:
Key interest rate decisions from the Federal Reserve, Bank of Japan, and Bank of England are expected this week, with a Federal Reserve rate cut anticipated in Sep.
🔸Daily Focus:
Mt. Gox Distribution:
59,000 of 142,000 BTC from Mt.Gox has been distributed via Kraken and Bitstamp, with minimal market impact expected. Bitcoin is around $66K
🔸Market Outlook:
The market is likely to absorb Mt.Gox's BTC distribution as it did with Germany's 48,000 BTC sale.
🔸Next Focus - Movement Public Testnet:
Reasons for Focus:
Movement's M2 is the first MOVEVM zk layer two on Ethereum, with $38M raised led by Polychain Capital.
Full review: 👉HERE👈
🔸Daily Macro:
BTC Market:
Bitcoin is stable at $6K after a pullback from $70K.
🔸BTC ETF:
Initial outflows of $81.5M on July 29 revised to a $124.1M inflow. Recent data shows a $93M outflow.
🔸ETH ETF:
ETH ETFs saw a net outflow of $84.3M, with Grayscale's ETHE outflows slowing to $120.3M
🔸Macroeconomic Data:
Key interest rate decisions from the Federal Reserve, Bank of Japan, and Bank of England are expected this week, with a Federal Reserve rate cut anticipated in Sep.
🔸Daily Focus:
Mt. Gox Distribution:
59,000 of 142,000 BTC from Mt.Gox has been distributed via Kraken and Bitstamp, with minimal market impact expected. Bitcoin is around $66K
🔸Market Outlook:
The market is likely to absorb Mt.Gox's BTC distribution as it did with Germany's 48,000 BTC sale.
🔸Next Focus - Movement Public Testnet:
Reasons for Focus:
Movement's M2 is the first MOVEVM zk layer two on Ethereum, with $38M raised led by Polychain Capital.
Full review: 👉HERE👈
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