PANews reported on July 11 that Matrixport released this week's report stating that Bitcoin's price has broken the historical high, and this round of increase has not seen leverage driving it, primarily driven by ETF capital inflows and corporate demand. Data shows that Bitcoin ETFs have attracted a total of $49 billion in funds, with institutions steadily entering the market.
At the same time, July is a strong month for Bitcoin, combined with Washington's 'Crypto Policy Week', the market welcomes a resonance of favorable policies and macro conditions. The progress of the (GENIUS Act) in the U.S. Congress is accelerating, which is expected to have a positive impact on stablecoin regulation and the promotion of digital assets.
Regarding the Federal Reserve, recent CPI data released three times have all been below market expectations, indicating some relief in inflationary pressure. The minutes from the June meeting show that Federal Reserve officials tend to start cutting interest rates this year, with the market expecting two rate cuts within the year, the first of which may occur in September. If next week's inflation data continues to show mild results, Fed Chairman Powell may face greater pressure to cut rates.
Matrixport stated that although prices have reached new highs, the funding and position structure indicates that the market has not fully digested these benefits, and there is still room for further increases.
