Crypto Starts July With a Bounce, ETH ETF Launch Likely Pushed to Next Week

Jul 1, 2024

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CRYPTO MARKET UPDATE DESPITE BEING THE LAUNCH DAY FOR ETH -0.89% ETFS, CRYPTO BROADLY MOVED LOWER IN THE EARLY MORNING HOURS TODAY, POSSIBLY DUE TO MOVEMENT OUT OF THE MT. GOX TRUSTEE WALLETS. Mt. Gox sent approximately $130 million in BTC -2.38% to Bitstamp, leaving about 90k BTC -2.38% remaining in the trustee wallets. This move lower was likely also influenced by a rise in the DXY. Currently, BTC -2.38% is trading around $66.5k,...

CRYPTO MARKET UPDATE U.S. EQUITIES ARE CONTINUING THIS WEEK’S SELL-OFF, WITH THE SPY 0.97%  AND QQQ 1.40%  BOTH DECLINING APPROXIMATELY 0.28%, WHILE THE DXY N/A% AND TREASURY YIELDS INCH UPWARDS. In contrast, BTC -2.38% is moving sharply higher, trading at $65.8k, with rumors circulating that former President Trump will unveil plans to add Bitcoin as a strategic reserve at next week’s Bitcoin conference. ETH -0.89% is trading at $3,450 ahead of potential S-1 approval after...

CRYPTO MARKET UPDATE THE CRYPTO MARKET MOVED HIGHER IN THE EARLY MORNING HOURS AND IS NOW CONSOLIDATING POST-US MARKET OPEN. BTC -2.38% once again challenged the $65k level and is currently sitting just below it, following the ninth consecutive day of net inflows for BTC -2.38% ETFs. ETH -0.89% is showing outsized strength, likely due to ETF issuers filing their final documents yesterday afternoon, with the ETF launch expected on Tuesday (more on...

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