Daily News | BTC ETF Funds Continue to Receive Large Inflows, REEF Plummeted by 70%
Crypto Daily Digest: BTC ETF Inflows exceeded $300 Million, EIGEN Welcomes Large Unlocking Today
According to Farside Investor data, US spot Bitcoin ETFs had a net inflow of $371.66 million yesterday. BlackRock’s IBIT inflow was $289 million, and Fidelity’s FBTC inflow was $35 million. The US spot Ethereum ETF had a net outflow of $12.7 million yesterday.
Bitwise Chief Investment Officer: A large amount of funds are looking out of the market, waiting to enter after the risk of US cryptocurrency regulation is lifted
Bitwise Chief Investment Officer Matt Hougan stated that recent comments by US Vice President Harris on cryptocurrency indicate that if regulators give the green light, investors will flock to the digital asset market.
On Monday, Harris promised to support a regulatory framework protecting black investment and cryptocurrency ownership. Hougan pointed out in a blog post that Harris’ proposal coincided with a 5% increase in Bitcoin prices on Monday, with $555.8 million flowing into Bitcoin spot ETFs, the largest inflow since June 4.
He added, “Regardless of what Harris said, the price trend of the day tells me that there are many funds on the sidelines waiting to clear the alarm and enter the market.”
The probability of the Fed cutting interest rates by 25BP in November is 90.6%
According to CME’s “FedWatch”, the probability of the Federal Reserve lowering interest rates by 25 basis points by November is 90.6%, and the probability of maintaining current interest rates unchanged is 9.4%. The probability of a cumulative interest rate cut of 25 basis points by December is 13.3%, and the probability of a cumulative interest rate cut of 50 basis points is 86.2%.
EIGEN welcomes large unlocking today
The re-staking protocol Eigenlayer (EIGEN) unlocked 11.22 million tokens worth approximately $41.85 million at 3 a.m. today, accounting for 6.01% of the liquidity. EIGEN’s current circulating market cap is about $660 million, ranking it 102nd in market cap.
EigenLayer is a protocol built on the Ethereum network that utilizes the new concept of “re-staking” to extend the network’s security and practicality to other industry projects.
Market Trends: REEF dropped 70%, Altcoins generally adjusted
Market Hotspots
The storage concept token STORJ has surged by over 25%, and the storage sector token has been a hot topic in the past few rounds of market trends, often emerging as an independent market;
New public chain projects such as SUI and SAGA have experienced a significant drop, with on-chain data showing that addresses holding $1 billion in SUI continue to sell, which the community believes is Sui’s official coin-selling behavior;
The meme project DEEP on the chain has surged threefold. DEEP is the aggregation trading platform of Sui Chain and has now been launched on Gate.io.
Mainstream Coins
Once approaching $68,000, BTC quickly fell back to $65,000, and then returned to above $67,500. BTC buying was strong, and ETF funds continued to flow in;
ETH performance lags behind BTC, still consolidating around $2,600, with small outflows from ETH ETFs;
Altcoins generally fell, with the early market leader token REEF plummeting by 70% within the day, most of them entering the adjustment range.
Macroeconomics: The three major US stock indices collectively closed lower, and global market uncertainty increased
The three major indexes of the US stock market collectively closed down, with the S&P 500 index falling 0.76% to 5,815.26 points; The Dow Jones Industrial Average fell 0.75% to 42,740.42 points; The Nasdaq index fell 1.01% to 18,315.59 points. The benchmark 10-year Treasury yield is 4.03%, while the 2-year Treasury yield, most sensitive to the Federal Reserve policy rate, is 3.95%. The US stock market closed lower on Tuesday (October 15th), mainly due to the unexpected release of the third quarter financial report by Dutch lithography machine giant ASML, which fell short of expectations.
On the news front, North Korea claimed that due to South Korea’s provocative actions, more than 1.4 million youth league cadres and young students across the country have signed up to join or rejoin the military, exacerbating market uncertainty. In addition, Israeli officials have stated that they may strike Iranian military bases or government buildings, further increasing tensions in the Middle East.
Overall, the global market has become more uncertain, and investors have become more cautious about holding risky assets. In this context, safe-haven assets such as gold are favored, and international precious metal futures generally close higher. Market participants closely monitor the development of geopolitical situations and changes in global economic data to make corresponding investment decisions.
