Overview

Bitcoin prices are highly volatile, having once fallen below $52,000 and currently fluctuating between $54,000 and $55,000. U.S. July non-farm payroll data came in below expectations, and the unemployment rate has risen, leading the market to anticipate a potential 50 basis point rate cut by the Federal Reserve in September. MicroStrategy plans to raise $2 billion to purchase more Bitcoin and for general corporate purposes.

Daily Macro

Bitcoin Market Bitcoin once fell below $52,000, with the highest single-day decline exceeding 10%, currently fluctuating between $54,000 and $55,000.

Bitcoin ETF On August 2nd, the report shows a net outflow of 237.4 million US dollars.

Ethereum ETF On August 2nd, the net outflow reported was $54.2 million.

Macroeconomic Data In July, the US non-farm payrolls added 114,000 jobs, far below the expected 175,000 jobs. The unemployment rate rose to 4.3%, reaching a near three-year high and triggering the recession indicator of the Sam rule. After the data was released, futures for the three major US stock indexes and US Treasury yields fell, with traders starting to bet that the Federal Reserve will cut interest rates by 50 basis points in September.

Daily Focus

MicroStrategy

Reason for Focus: Recently, MicroStrategy plans to raise $2 billion by selling Class A shares to purchase more Bitcoin and for general corporate purposes. MicroStrategy is not only a business intelligence and data analytics software company but has also attracted widespread attention in recent years due to its large-scale investment in Bitcoin.

Market Outlook: MicroStrategy's CEO Michael Saylor is a staunch supporter of Bitcoin, believing it to be a superior store of value than cash. As of the first quarter of 2024, MicroStrategy disclosed that it holds over 200,000 bitcoins. The stock sale plan indicates that MicroStrategy continues to firmly integrate Bitcoin as part of its long-term strategy, aiming to increase the company's asset value by increasing its holdings in Bitcoin.

Next Focus

The Fed may cut interest rates in September

Reasons for Focus: There is currently no definite decision on whether the Fed will cut interest rates in September 2024. Overall, there is a higher possibility of the Fed cutting interest rates in September 2024, mainly due to signs of economic recession and weakness in the job market.

How to Participate: In the context of a potential rate cut by the Federal Reserve, risk assets may perform well, and investment opportunities could arise in the cryptocurrency market.

CoinEx Daily：Bitcoin falls below $52,000; MicroStrategy plans to raise $2 billion to buy Bitcoin.