CoinEx Daily: Bitcoin fell to $58,000; The Federal Reserve releases PPI, CPI and other important data this week

Overview

The Bitcoin price retraced to 58,000, and the overall decline in the crypto market was large. This week, the Federal Reserve will release the US July PPI monthly rate, the US July non seasonally adjusted CPI annual rate of key economic indicators

Daily Macro

Bitcoin Market After a brief recovery, Bitcoin fell to $58,000, dropping nearly $4,000 in a short period, leading to an overall pullback in the crypto market, with ETH and SOL experiencing significant pullbacks.

Bitcoin ETF The US Bitcoin spot ETF had a net outflow of $166 million last week.

Ethereum ETF Last week's US Ethereum spot ETF accumulated net inflows of $104.8 million.

Macroeconomic Data This week, the United States will release important economic data such as CPI, PPI, due to its importance will affect the monetary policy of the United States, triggering an increase in market risk aversion, short-term funds out of the crypto market.

Daily Focus

MEME

Reason for Focus: In the past 90 days, only the meme coin sector has remained up, and the AI and chain travel sectors have fallen by more than 60%. Among them: meme coin plate rose by 2.89%, is the only major plate to keep up, Layer1 plate fell by 15.21%, against the decline, chain tour plate and AI plate fell 60.69% and 63.6% respectively.

Market Outlook:MEME as a track with outstanding performance in this cycle, attracts more attention from retail investors than other sectors, and its rebound strength is also the best during the sharp decline in the market, which can reflect the very strong consensus of meme currency.

Next Focus

Trump and Musk

Reasons for Focus: Former U.S. President Donald Trump said he will conduct an interview with Tesla CEO Elon Musk on Monday night. Since both parties have a lot of influence in the crypto space, the dialogue between the two parties may affect the direction of the crypto market

How to Participate: Users can get a timely understanding by watching live broadcasts, paying attention to news media, etc., so as to make corresponding treatment for bad or good news