Check-in

At the macro level, the latest data from CME's "FedWatch" indicates a mere 14.1% probability of the Fed maintaining interest rates in September, while the likelihood of a 25 basis point rate cut stands at 85.9%. Looking ahead to October, expectations of a cumulative 50 basis point rate cut exceed half, further strengthening market confidence in easing policy.
CoinShares' latest report shows that digital asset investment products saw renewed inflows last week, totaling $572 million. Ethereum-related ETPs performed particularly well, receiving $268 million in inflows, setting a year-to-date record of $8.2 billion and pushing assets under management to a new high of $32.6 billion. Ethereum-related products have grown 82% year-to-date. Bitcoin also saw $260 million in inflows after two consecutive weeks of outflows, while short positions on Bitcoin decreased by $4 million. Among other major cryptocurrencies, Solana, XRP, and Near saw inflows of $21.8 million, $18.4 million, and $10.1 million, respectively.