Last night, the Goldman Sachs team stated that a 50 basis point rate cut in September has become the baseline scenario. Today, the cryptocurrency market has basically rebounded across the board. It seems everyone has taken a 25 basis point cut for granted. If a 50 basis point cut occurs, it is expected to further boost market confidence!!!
ETF Market: Last night, the ETF funds for Bitcoin and Ethereum finally returned to a net inflow status after several days of significant outflows. Although it's not much, Bitcoin saw an inflow of 90 million, and Ethereum saw an inflow of 30 million. This is not the hundreds of millions we saw before, but the impact on market sentiment is still quite evident.
Just now, Ethereum $eth broke through 3750. As I write this, it is about to challenge 3800. Ever since institutions and consortiums set their sights on Ethereum ETFs, any pullback followed by upward spikes has been led by Ethereum. This is something everyone should adjust their views on!
Speaking of altcoins, I just took a quick look, and the Binance gainers list is basically dominated by the DEFI sector. This summer, with Ethereum leading the way, could we see a repeat of the DeFi summer of yesteryears??? Therefore, it is quite necessary to position in leading DEFI projects during pullbacks, such as $uni, $ena, etc.
