Overview

Bitcoin has stabilized at $68,000 amidst market fluctuations, while the ETH ETF is set to launch soon. Market anticipation for the Ethereum ETF is high. The macroeconomic environment is favorable for the crypto market, with investor sentiment boosted by Federal Reserve rate cut expectations. Market highlights focus on the Ethereum ETF launch and Politifi MEME, with the next ETF expected to be SOL.

Daily Macro

Bitcoin Market Bitcoin price has stabilized at $68,000 amidst market fluctuations. US Senator Cynthia Lummis hinted at significant Bitcoin-related news to be announced this week, which could further boost Bitcoin prices.

Bitcoin ETF Last Friday, Bitcoin ETF saw a net inflow of $383 million. Grayscale plans to split GBTC into mini ETFs and reduce fees to 0.15%.

Ethereum ETF The Ethereum ETF will launch on July 23rd. However, market expectations for demand might be lower than anticipated. ETFs issued by Vaneck, Invesco, Fidelity, 21Shares, and Franklin Templeton can begin trading.

Macroeconomic Data Federal Reserve rate cut expectations have strengthened, with CME predicting a 98% probability of a rate cut in September. Reuters forecasts the Federal Reserve FOMC meeting will remove references to high inflation, further reinforcing the likelihood of a rate cut.

Daily Focus - Ethereum

Ethereum

Reason for Focus: The Ethereum ETF is set to launch, but demand might be lower than expected. The market is concerned about the unlocking of 3 million ETH by Grayscale.

Token Performance: The ETH/BTC exchange rate has dropped from 0.535 last week to 0.51, indicating market caution in response to the ETF news.

Outlook: In the short term, Ethereum may continue to fluctuate due to the ETF launch and selling pressure. However, in the long term, the ETF will bring sustained positive impact.

Politifi MEME:

Reason for Focus: The Politifi MEME frenzy triggered by the US presidential election remains strong. Biden's withdrawal has caused $KAMA to double, while $Boden has dropped more than 60%.

Token Performance: The market is focused on MEME tokens related to candidates like Harris, Newsom, Whitmer, and Shapiro.

Outlook: The US presidential election is still ongoing, and there will be continuous topics of discussion. Related MEME tokens have high volatility, so investors should invest cautiously and be aware of risks.

Next Focus

SOL ETF

Potential Reason: It is expected that many institutions will issue BTC, ETH, and SOL combined spot ETFs in the coming months. This product is likely to have a higher approval rate than a standalone SOL ETF.

Token Performance:

SOL has shown strong performance, up 12% in the past 7 days.
$RAY is up 14.72% in the past 7 days.
$BONK is up 9.96% in the past 7 days.
$JTO is up 9.94% in the past 7 days.

CoinEx Daily: ETH ETF to Launch Soon, Politifi MEME Frenzy Remains Strong