CoinEx Daily: Bitcoin Rebounds to $60,000; SUI Surges Significantly, Breaking Through $1

Overview

Bitcoin prices have rebounded to $60,000, and altcoins have generally recovered with significant gains in the past 24 hours. SUI has performed outstandingly after Grayscale announced the launch of its SUI Trust product, breaking through the $1 mark.

Daily Macro

Bitcoin Market After pulling back to $58,000, Bitcoin has slightly rebounded to $60,000. Ethereum showed strong performance, rising 6% to $2,700.

Bitcoin ETF On August 13th, preliminary reports showed a net inflow of $28 million into U.S. Bitcoin spot ETFs yesterday.

Ethereum ETF On August 13th, preliminary reports showed a total net inflow of $4.9 million into U.S. Ethereum spot ETFs yesterday.

Macroeconomic Data Yesterday, the U.S. released the New York Fed’s one-year inflation expectation for July, which came in at 2.97.This data is broadly positive, potentially driving up the prices of gold, silver, and oil. As for U.S. dollar policy, it could further accelerate the Federal Reserve’s interest rate cut schedule.

Daily Focus

SUI

Reason for Focus: Grayscale announced the launch of its SUI Trust product. Over the past week, SUI has surged from a low of $0.46 to a high of $1.1 last night, marking a peak increase of nearly 140%.

Market Outlook:With Grayscale launching the SUI Trust product, many KOLs (Key Opinion Leaders) have also started promoting SUI. The rivalry between SUI and SOL is becoming more prominent, but traders suspect that this may be a large-scale promotion by institutions looking to offload their holdings. Caution is advised when trading SUI.

Next Focus

Nikkei 225

Reasons for Focus:The Nikkei 225 index has recovered to levels before the over 12% drop on August 5th. The large-scale sell-off peaked last week, and investors are now shifting their focus to fundamentals such as corporate profitability. The Japanese stock market is likely to stabilize for the first time in a while. The stability of the yen will also help stabilize the Japanese stock market.

How to Participate: The global asset sell-off triggered by the Japanese stock market has initially stabilized, but many uncertainties remain. The Japanese Parliament will hold a special meeting in the Lower House Committee on August 23rd to discuss the Bank of Japan’s interest rate hike issue. Investors should prepare for risk management accordingly.