Overview

Bitcoin’s price quickly dropped to $56,000, while Ethereum fell to $2,500. Nasdaq withdrew two applications for listing and trading Bitcoin and Ethereum spot ETF options. On the same day, NYSE also withdrew applications for listing and trading Bitwise and Grayscale Bitcoin spot ETF options.

Daily Macro

Bitcoin Market Price briefly fell to $56,000; Ethereum dropped to $2,500; SOL fell below $140.

Bitcoin ETF On August 16, preliminary reports show Bitcoin spot ETF net inflow of $11 million;

Ethereum ETF On August 16, preliminary reports show Ethereum spot ETF net outflow of $39.19 million.

Macroeconomic Data U.S. initial jobless claims for the week of August 10th came in at 227,000, lower than the forecast of 235,000 and the previous figure of 234,000, marking the lowest level since early July. Swap market prices indicate that the Federal Reserve’s rate cuts in 2024 are expected to be less than 100 basis points.

Daily Focus

Nasdaq and NYSE:

Reason for Focus: Nasdaq withdrew two applications for listing and trading Bitcoin and Ethereum spot ETF options. Simultaneously, NYSE withdrew applications for listing and trading Bitwise and Grayscale Bitcoin spot ETF options. Other exchanges, including MIAX, MIAX Pearl, and BOX Exchange, also withdrew similar proposals last week. Cboe withdrew its application for listing options on spot Bitcoin ETFs last week

Market Outlook: Bloomberg analyst James Seyffart expects Nasdaq and NYSE to resubmit proposals for listing and trading options on spot Bitcoin ETFs in the near future. The SEC has yet to approve trading of options products based on spot Bitcoin and Ethereum ETFs.

Next Focus

Donald Trump Jr.

Reasons for Focus:Former U.S. President’s son, Donald Trump Jr., announced the launch of a Telegram channel “The DeFiant Ones” on X to introduce an upcoming crypto project. He stated, “There are many rumors about our crypto project. To get the truth and stay updated on official announcements, join our official Telegram channel. Don’t rely on speculation, get the news directly here.” This is likely a DeFi project.

How to Participate:Users can search and join “The DeFiant Ones” Telegram group on their own. Once inside, they can stay updated on the latest developments related to the project.

CoinEx Daily: Bitcoin Briefly Dips to $56,000; Nasdaq and NYSE Withdraw Bitcoin and Ethereum Spot E