QCP Market Update- 15 Aug 24
BTC reclaimed $60K overnight and is stabilizing at these levels, fully reversing last Monday’s sell-off. BTC even ticked higher when Bitgo moved $2B of Mt. Gox BTC last night. This could signal that the market is beginning to disregard this supply factor.
ETH spot ETFs continue to attract inflows, marking a 2-day winning streak and drawing $24.3 million in net inflows on Tuesday.
Last night’s softer US PPI print shifted market expectations towards a 50bps rate cut in September by the Fed, with the probability now at 52.5% for 50bps versus 47.5% for 25bps.
All eyes are on tonight’s US CPI print. A soft CPI could support a recovery in risk assets like equities and crypto on the back of anticipated Fed rate cuts.
Trade Idea
With consistent ETF inflows and BlackRock buying the dip last week, crypto seems relatively well supported. However with no major catalysts on the horizon, we anticipate limited major breakouts until Q4.
PRINCIPAL PROTECTED BTC RANGE ACCRUAL
- Coupon Rate: 19% pa in USD if BTC/USD fixes at-or-within the range 56k to 66k, 0% otherwise
- Maturity: 8NOV24
- Coupon Frequency: Weekly from 23AUG24
- Full redemption 100% in USDC at maturity
Spot ref: 61,000
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Data-Anchored Tokens (DAT) and ERC-8028: The Native AI Asset Standard for the Decentralized AI (dAI) Era on Ethereum
If Ethereum is to become the settlement and coordination layer for AI agents, it will need a way to represent native AI assets—something as universal as ERC-20, but also capable of meeting the specific economic model requirements of AI.
Who decides the fate of 210 billions euros in frozen Russian assets? German Chancellor urgently flies to Brussels to lobby Belgium
In order to push forward the plan of using frozen Russian assets to aid Ukraine, the German Chancellor even postponed his visit to Norway and rushed to Brussels to have a working meal with the Belgian Prime Minister, all in an effort to remove the biggest "obstacle."
The "Five Tigers Competition" concludes successfully | JST, SUN, and NFT emerge as champions! SUN.io takes over as the new driving force in the ecosystem
JST, SUN, and NFT are leading the way, sparking increased trading and community activity, which is driving significant capital inflows into the ecosystem. Ultimately, the one-stop platform SUN.io is capturing and converting these flows into long-term growth momentum.
Trending news
MoreCrypto prices
More
