The market's expectation for maintaining interest rates in July is now almost certain, even with Trump's aggressive statements against the Federal Reserve, the market is not buying it. Therefore, the first rate cut is still expected in September. If the market sends positive signals tomorrow, August could very likely be a month of speculative trading.
On July 28, Bitcoin ETFs had a net inflow of $157.1 million, while Ethereum ETFs had a net inflow of $65.2 million. The net inflow for Ethereum has started to decrease.
U.S. publicly listed company CEA Industries Inc. (NASDAQ: VAPE) announced in conjunction with 10 X Capital the completion of a PIPE® (Private Investment in Public Equity) financing of up to $500 million, specifically aimed at establishing a reserve fund for crypto assets centered around BNB°. This transaction structure also includes warrants of up to $750 million, making the potential total financing scale up to $1.25 billion. Due to this news, VAPE's stock price surged 5 times. This is the logic behind the recent surge of BNB that has been widely discussed, as no news was released yesterday—only rumors. Therefore, I didn't mention it, but it has spread in the community. This is a capital operation by CZ to purchase tokens via a backdoor listing. Currently, Bitcoin, Ethereum, and BNB have all been hit, and the 9th ranked TRON has also been listed. Now, only XRP (ranked 3rd) and ADA (ranked 10th) are left out of the top 10 by market cap.
The implementation of Hong Kong's (Stablecoin Regulation) is imminent, with several institutions confirming to reporters that the Hong Kong Monetary Authority will hold a technical briefing on the regulatory framework for stablecoin issuers today at 4:30 PM. It is reported that the briefing will be led by senior executives from the Monetary Authority, including Vice President Chen Weimin, Assistant President (Regulation and Anti-Money Laundering) Chen Jinghong, Assistant President (Currency Management) He Hanjie, and Digital Finance Head He Hongzhe, among others. The Hong Kong Monetary Authority had previously stated that it would release accompanying implementation guidelines for stablecoins this month, clarifying core regulatory details such as anti-money laundering and customer identity verification. The regulators also remind the market to maintain a rational perspective and avoid excessive speculation, with the number of initial stablecoin issuer licenses strictly controlled to single digits, planned to be completed within the year.
In the past 12 hours, Galaxy Digital has transferred out 3782 BTC (approximately $447 million), most of which flowed to trading platforms.
Market Interpretation
Bitcoin continues to fluctuate, unable to rise or fall significantly. Let's see if there will be a movement tomorrow that can break this pattern of fluctuation.
Ethereum met resistance at 3940 and did not touch 4000. This is the first scenario I mentioned yesterday. I think if this is the case, we need to completely resolve the divergence; either it quickly reverses and stabilizes above 4000 in the next couple of days, or it returns to 3600 for further consolidation.
On Altcoins:
CFX has been the most prominent coin in the market for a few days. The market manipulation is really impressive, with very aggressive price increases, leaving no chance for unloading, and the wash trading is also quite fierce. Such coins must endure the wash well. Currently, 0.27 is a resistance point from a previous high, but with such aggressive buying, I believe the chances of encountering resistance at this level are low, and it should break through smoothly.
MEME is still brewing; apart from VINE, I think we might see some golden dogs emerge in the next few days, depending on who works harder.
Opportunities are here; assets could double! Follow Biao Ge closely and easily make big money.
Continuously monitoring: BANANAS31, ATM
