For the current currency market, it must be very clear that liquidity is the root cause. The reason why spot ETFs are attracting attention is because it opens up the barriers between the stock market and the currency market, bringing greater liquidity and funds. Amount, all investors can invest in BTC, and based on the experience that has been mastered so far, as long as BTC passes ETH, it will not be difficult to pass. Of course, other Tokens still have a long way to go, but at present There are opportunities for several projects that have been deemed non-securities by the SEC, including BCH, LTC and DOT. Therefore, the most direct judgment for the currency market is to look at the three data of stablecoin market value, purchasing power and trading volume.
This morning, the SEC also officially accepted Bitwise's application for BTC ETP trust. Although this does not mean that the application will definitely be approved, it still gives the market enough expectations and rising sentiment. As of the closing of the U.S. stock market (the main trading time zone of the United States), the BTC trading volumes of Coinbase and Binance have shown an upward trend, indicating that more investors are beginning to resume their willingness to invest. This is a good sign for the almost stagnant currency market, but whether it can continue is not clear at present. However, there is indeed a lot of positive sentiment in the market recently. Not only has trading begun to predict that July will be the last rate hike by the Federal Reserve, but there is even news that the president of the Federal Reserve Bank of St. Louis, Bullard (Eagle King), has resigned, which has also stimulated the rise of risk markets.
Bitcoin once broke through 31,000 US dollars. If the market can stand firm above 31,000, there is a high probability that Bitcoin will reach 35,000 in the future. The market fell back today, but the support below is still relatively strong. From the daily line, after yesterday's sharp rise in the market, the price ran above the moving average. From the trend point of view, the market is in a strong bullish trend. Overall, Bitcoin is currently looking at key support below. As long as the support is not broken, it will continue to be bullish in the future!
Today's hot spots:
1. Security team: Apache RocketMQ disclosed a remote command execution vulnerability, and attack cases have occurred;
2. Crypto.com launched XRP, supporting transactions in more than 20 fiat currencies;
3. Kwenta: The staking contract was suspended due to a potential vulnerability found in the Stake v2 contract, and the funds are safe;
4. TrueUSD: The final stage of the international transition of TrueUSD has begun, and Techteryx will fully manage all offshore businesses;
5. The number of Sui active addresses exceeded 1 million;
6. Former Celsius Network CEO pleads not guilty to fraud charges;
7. Aptos ecosystem DeFi protocol Thala will launch Thala V2 in three phases in August;
8. ConsenSys Mesh launches innovative blockchain project accelerator program TachyonX;
9. Ion Protocol raised $2 million in financing, led by Portal Ventures and SevenX Ventures;
10. Scroll launches the "Contribute to Scroll" program to encourage open collaboration and developer tool integration;
11. Gauntlet will deploy targeted liquidity mining programs on Uniswap;
12. Report: In Q2 2023, Binance’s market share was 50.6%, still ranking first in the market;
13. BAYC: ApeFest 2023 will be held in Hong Kong from November 3rd to 5th.
