Overview

The crypto market suffered another major crash early yesterday, with major cryptocurrencies dropping around 10%. The Fear & Greed Index shifted from neutral to fear.

Daily Macro

Bitcoin Performance: Bitcoin experienced a sharp drop early morning, briefly falling below $91,000.

Bitcoin ETF: Net outflow of $358M yesterday.

Ethereum ETF: Net outflow of $29M yesterday.

Macroeconomic Data: The South Dakota House Commerce and Energy Committee decided not to include Bitcoin as an official investment option for the state at this time.

Daily Focus

Raydium

Reason for Attention: Pump.fun announced plans to build its own AMM. Since Pump.fun has been a key traffic provider for Raydium, this news significantly impacted Raydium, leading to a sharp short-term price decline.

Token Performance: RAY: -2.98% (24h)

How to Participate: Pump.fun is currently testing AMM functionality. Investors should monitor the development of both Raydium and Pump.fun to seize potential opportunities.

Next Focus

Citadel Securities

Reason for Attention: Citadel Securities, the largest market maker on the NYSE with a $65 billion valuation, plans to enter the crypto market-making space, betting that President Trump’s support for crypto will lead to market growth.

How to Participate: Citadel Securities is planning to join the market-making lists of Coinbase Global, Binance, and Crypto.com, and may initially set up its market-making team outside the U.S. Investors should stay informed on further developments.

CoinEx Daily: Crypto Market Plummets, Sentiment Turns to Extreme Fear